Rebates and Rewards
Referrers: Earn USDC Rewards
Perennial’s referral program is open, meaning everyone (trader, community member, influencer, LP) is able to create referral codes & earn rewards.
To create and manage your referral code:
On Perennial, head to the "Refer" tab in the app to generate and enter your code.
On Perpfun, open the menu and use the Refer Widget to enter and share your referral code.
You’ll earn a percentage of all trading fees generated by users who enter your code. The more volume your referrals trade, the more you earn. Rewards are tracked on a 14-day rolling window and paid weekly in USDC.
Your referral tier updates automatically as volume increases. There is no cap on earnings.
Traders: Fee Rebates
Traders receive automatic fee discounts based on their own trading activity and the referral link they used.
Higher personal volume → higher fee rebate (paid back to you weekly).
Higher referrer tier → bigger upfront fee discount when you trade.
Every trade you make counts toward your 14-day rolling volume. As you trade more, you unlock higher tiers and get bigger discounts. The rebate is automatically tracked on all trades, and claimable weekly in-app.
If your referrer has a high volume tier, you benefit even more. Their rebate tier stacks with your own, reducing your trading fees further.
You can check your current tier and referral status from your profile page on either Perennial or Perpfun.
🧩 Referral Tiers
Referral rewards on Perennial are volume-based. Both traders and referrers move up tiers based on their 14-day rolling volume.
As your volume increases, so do your rewards.
Tier Breakdown
None
< $50,000
0%
0% / 0%
Silver
≥ $50,000
10%
10% / 10%
Gold
≥ $500,000
15%
15% / 15%
Platinum
≥ $5,000,000
20%
20% / 20%
Solaris
≥ $50,000,000
25%
25% / 25%
Discounts are applied as rebates, credited weekly based on your 14-day trading volume.
Your referrer earns rewards too - based on their 14-day volume.
All rewards are calculated weekly and claimable in-app.
💡 Example:
If your 14-day volume is $600K (Gold), and your referrer’s is $5.2M (Platinum):
You’ll get back 35% (15% for your volume, 20% for your referrer's) of your trade fees as a rebate
Your referrer earns 20% of your trade fees as a reward
Reward Calculation & Claiming
Rebates and rewards are calculated weekly based on a 14-day rolling trading volume.
Rebates go to both the trader and their referrer
Volume Tiers are based on your 14-day trailing volume
Calculations are based on total notional traded and your current tier
Rewards are denominated in USDC and are claimable directly in the app.
💡 How it works:
You trade → full fee is charged up front (4.0 bps)
System calculates your & your referrers tier
Your share of that fee is returned to you as a rebate
Your referrer also gets a cut as their referral reward
You can claim your rewards weekly via the refer tab
💡 Example calculation:
You trade $1M notional
Your tier = 15%, your referrer’s = 20%
Base fee = 4.0 bps = $400
You get back $140 (15% + 20%)
Your referrer gets $80 (20%)
Last updated