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Trading Costs
Alpaca paper fills charge no fees, so raw paper P&L overstates a scalp's real edge. Every lab strategy must clear the modelled hurdle below before it fires, and every closed trade is re-scored against these costs. The live model uses the current fee tier from config; update it as the account's measured tier changes.
Current cost model
Round-trip fee floors
Fees only — spread and slippage are added on top by the trade gate.
| Liquidity path | Fee floor (bps) |
|---|---|
| Maker → Maker | 30.0 |
| Maker → Taker | 40.0 |
| Taker → Taker | 50.0 |
All-in hurdle a move must clear
Fees + one round-trip spread + slippage (both sides) + buffer, in bps, at a few example spreads. A strategy's target must exceed this or the trade never fires.
| Liquidity path | spread 0.0bp | spread 2.0bp | spread 5.0bp |
|---|---|---|---|
| Maker → Maker | 50.0bp | 50.0bp | 50.0bp |
| Maker → Taker | 60.0bp | 61.0bp | 62.5bp |
| Taker → Taker | 70.0bp | 72.0bp | 75.0bp |
Cost vs return — recent lab trades
No closed lab trades with booked modelled P&L yet. Activate a lab strategy and let it trade to populate this.
Alpaca crypto fee tiers (reference)
| 30-day volume tier | Maker | Taker |
|---|---|---|
| Entry (< $100k 30d vol) | 0.15% | 0.25% |
| $100k – $500k | 0.12% | 0.22% |
| $500k – $1M | 0.10% | 0.20% |
| $1M – $10M | 0.08% | 0.18% |
| $10M – $25M | 0.05% | 0.15% |
| $25M – $100M | 0.02% | 0.13% |
Reviewed 20 Jul 2026 (playbook platform decision table). Spread, slippage, funding, market impact and FX are excluded from this reference and modelled separately above.