# Fluid DEX Fees Methodology

## 1. Overview

Fees measures the total value paid by users to trade and interact with liquidity pools within Fluid DEX, including its implementations as Fluid DEX Lite and Venus Flux. These fees are generated through trading spreads (swap fees) and specific internal arbitrage mechanisms triggered during liquidity operations. The metric represents the gross economic value processed by the exchange infrastructure across all supported blockchain networks.

## 2. Data sources

- **Blockchain events**: `Swap` events from `FluidDex` and `FluidDexT1` contracts, `LogSwap` events from `FluidDexLite` contracts, and `LogOperate` events from `FluidLiquidity` and `FluidLiquidityProxy` contracts, covering Ethereum, Arbitrum, Base, Polygon, and 2 other chains
- **External data**: End-of-day price feeds for traded assets

## 3. Step-by-step calculation

### Component A: Swap fee extraction

- **Purpose**: Captures user-paid fees from trading activity on Fluid DEX, Fluid DEX Lite, and Venus Flux.
- **Logic**: Trading volume is extracted as two-leg token amounts from `Swap` events (for Fluid DEX and Venus Flux) and `LogSwap` events (for Fluid DEX Lite). For each trade, the input asset amount (determined by the trade direction) is multiplied by the pool's trade fee rate to calculate the swap fee. For Fluid DEX Lite, swap data is decoded from log inputs to determine adjusted amounts and trade directions.
- **Key fields**: `amount_0`, `amount_1`, `a_to_b`, `trade_fee_rate`

### Component B: Arbitrage fee extraction

- **Purpose**: Captures fees generated through internal arbitrage logic during liquidity operations.
- **Logic**: `LogOperate` events are parsed from `FluidLiquidity` and `FluidLiquidityProxy` contracts. Fees are identified by calculating the absolute difference between supply and borrow amounts in transactions where both values are non-zero and unequal. These operations are filtered to include only those associated with verified Fluid DEX addresses.
- **Key fields**: `supply_amount`, `borrow_amount`, `dex_address`

### Component C: USD conversion and aggregation

- **Purpose**: Normalizes fee values to USD for comparative analysis.
- **Logic**: Fee amounts are normalized based on asset-specific decimal precision. Normalized values are multiplied by end-of-day price feeds to determine the USD value. All data is aggregated at a daily granularity using UTC day boundaries.
- **Key fields**: `block_timestamp`, `token_address`, `price_usd`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

Fees

Exchanges (DEX)

Fluid acts as a lending, vault, and DEX platform for seamless DeFi interaction.

Fluid is a non-custodial lending, vaults, and DEX protocol built by Instadapp. Instadapp was founded by Samyak Jain & Sowmay Jain and launched in 2018.

FLUID tokenholders own and govern the protocol. They currently earn a cut of the fees generated through Fluid lending, vault and DEX services. Instadapp's investors include Coinbase Ventures, Pantera Capital, Robot Ventures, etc.

Fluid DEX

Fees

Fees

Chain breakdown