> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Monetization

> How the Perps builder fee works and how it's configured for your project.

Trade monetization works through Hyperliquid's builder fee: a per-fill fee on executed notional, collected in USDC. The fee is 1 to 10 bps and is the same regardless of the position's leverage.

## Builder fee approval

Before a user's orders can carry a builder fee, that user approves it once via the `approveBuilderFee` action. The Perps API prepends this action automatically when it's needed, so you don't have to check approval status yourself before submitting an order.

## Configuration

Set your project's builder fee (1 to 10 bps) in the dashboard's Trade fee configuration; yield.xyz sets and confirms the builder address before the configuration goes live. It is available once the Perps fee config feature is enabled for the Hyperliquid provider in your project's Trade provider settings, and only a live configuration applies to new orders.

<Note>
  Earn has a separate fee model built around fee configurations attached to a project and a yield. See [Earn monetization](/documentation/earn/monetization) for that model; it doesn't apply to Trade.
</Note>

## Tokenized Stocks

Tokenized Stocks is upcoming: no monetization model is documented for it yet. See [Tokenized Stocks](/documentation/trade/tokenized-stocks) for what's confirmed so far.

## Next steps

<Columns cols={2}>
  <Card title="Perps" icon="chart-candlestick" href="/documentation/trade/perps">
    Discover markets, open positions, and manage them through the Perps API.
  </Card>

  <Card title="Coverage" icon="table" href="/documentation/trade/coverage">
    Live providers, networks, and how to fetch the current market list.
  </Card>
</Columns>


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