How do fees compare across polymarket, azuro, and SX bet?
The three major on-chain prediction market platforms - Polymarket, Azuro, and SX Bet - charge fees in fundamentally different ways. Polymarket takes a flat taker fee per trade. Azuro embeds fees into the odds via a liquidity provider spread. SX Bet charges a small percentage on winning bets only. No platform is universally cheaper; the best choice depends on whether you are a frequent trader, a casual bettor, or someone placing large one-off wagers.
Polymarket: per-trade taker fees
Polymarket charges a fixed percentage on every trade that removes liquidity from its order book. This is the taker fee. Maker orders - orders that add liquidity and are not immediately filled - pay no fee and may earn a small rebate.
- Taker fee: Check the current rate on the Polymarket fee schedule page. Historically it has been around 0.1 - 0.2% per trade.
- Maker fee: 0% (sometimes a small rebate).
- Settlement fee: None. Settlement is handled on-chain; you pay gas to claim, but Polymarket does not take an additional cut.
- Gas cost: You pay Ethereum gas for every trade and every settlement claim. On busy days, gas can exceed the fee on small positions.
Because Polymarket charges per trade, active traders who take liquidity pay every time they enter or exit. A round-trip (buy then sell) costs two taker fees. If you hold to settlement, you pay one taker fee on entry plus gas to claim.
Azuro: spread-based fees embedded in odds
Azuro does not charge a visible per-trade fee. Instead, it uses a liquidity pool model. The platform takes a cut by adjusting the odds slightly in its favor. This is sometimes called the "house edge" or "vig."
- Fee structure: A percentage of every bet is taken before the bet is placed, reflected in worse odds than the "true" probability. The exact percentage varies by market and liquidity depth.
- No separate taker/maker distinction: Every bet is against the pool, not against other traders.
- Settlement fee: None. Payouts are automatic when the oracle resolves; you do not need to claim.
- Gas cost: You pay gas on the network Azuro uses (typically Gnosis Chain or a sidechain). Gas is lower than Ethereum mainnet.
The spread-based model means you never see a line item for fees. The cost is already in the odds. For a single bet, this can be cheaper than Polymarket's per-trade fee plus gas - especially on small amounts. But if you trade in and out of positions, Azuro's model penalizes you each time you open a new bet, with no rebate for providing liquidity.
SX bet: fee on winning bets only
SX Bet takes a fee only when you win. This is unusual among prediction market platforms and can be attractive to bettors who expect to lose more often than they win.
- Fee: A percentage of your net profit on winning bets. The current rate is published on the SX Bet fee page. Historically it has been around 2 - 5%.
- Losing bets: No fee. You lose only your stake.
- Settlement fee: None. Winnings are paid out on-chain after resolution.
- Gas cost: SX Bet runs on its own sidechain (SX Network), which uses low gas fees. Settlement transactions are cheap.
The "fee on winners" model means that if you place many bets and win a few, you pay less overall than on a platform that charges per trade. But if you win frequently, the percentage on profits can add up. SX Bet also allows you to trade positions before settlement (like Polymarket), but the fee structure remains the same: no fee to sell, only a fee if you hold and win.
Comparing costs by use case
Casual single bettor
- Polymarket: One taker fee + gas on entry. Gas may be high on Ethereum mainnet. Settlement requires another gas transaction.
- Azuro: One embedded fee in the odds. No separate gas for settlement. Likely the cheapest for a single small bet.
- SX Bet: No fee if you lose. If you win, a percentage of profit. For a small bet that wins, the fee may be similar to or slightly higher than Azuro's spread.
Active trader (multiple entries and exits)
- Polymarket: Two taker fees per round-trip. Gas for each trade. Cost grows quickly.
- Azuro: Not designed for trading. Each new bet pays the spread again. Selling a position is not straightforward.
- SX Bet: No fee to sell a position before settlement. Only pay if you hold to a win. This can be cheapest for traders who exit early.
Large bettor
- Polymarket: Percentage fee scales linearly. Gas cost becomes negligible relative to bet size.
- Azuro: Spread percentage may be smaller on deep liquidity pools, but large bets can move the odds against you.
- SX Bet: Percentage on profit scales with winnings. On a large winning bet, this can be a significant absolute amount.
Hidden costs to watch
- Slippage: On Polymarket, large market orders may fill at worse prices than the displayed best bid or ask. This is not a fee but a real cost.
- Oracle resolution delays: If a market takes weeks to resolve, your funds are locked. This is an opportunity cost, not a fee, but it matters.
- Deposit and withdrawal fees: All three platforms require you to move collateral (USDC or DAI) on-chain. The cost of bridging or depositing is not part of the platform fee but adds to your total cost.
Summary
- Polymarket charges per trade, best for makers and large bets where gas is negligible.
- Azuro charges in the odds, cheapest for single small bets.
- SX Bet charges on winners only, best for bettors who lose more than they win or who trade positions before settlement.
Check each platform's current fee page before placing a bet. Fee schedules change, and the cheapest option today may not be cheapest tomorrow.
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