Legal
Fee disclosure
Every charge that can reduce your balance, how it is calculated, and when it is applied.
Last updated 21 August 2026
1.Scope of this document
This disclosure lists every category of charge that can reduce your balance. Live rates for each strategy are shown on the allocation screen before you confirm, and every charge actually applied appears as its own ledger entry you can inspect.
2.Management fee
A management fee may be charged as a percentage of allocated capital, accrued daily and settled periodically. It is charged whether the strategy gains or loses, and it is deducted from the allocation itself rather than invoiced separately.
3.Performance fee
A performance fee may be charged as a percentage of net new profit above a high-water mark, so the same gain is never charged twice after a drawdown is recovered. The applicable rate, crystallisation frequency and high-water mark treatment are shown per strategy.
4.Trading costs
Venue commissions, maker/taker fees and clearing charges are incurred each time a strategy trades and are borne by the allocation. A strategy that trades more frequently incurs more cost, independent of whether it is profitable.
5.Spread and slippage
The difference between the quoted price and the achieved fill is a real cost even though it is not itemised as a fee. In thin or fast markets it can be materially larger than the commission.
6.Funding and financing
Strategies using perpetual futures or margin pay or receive funding at venue-defined intervals. Funding can be persistently negative and erode returns over time.
7.Network fees
Deposits and withdrawals incur blockchain network fees set by the network, not by TANO. Withdrawal quotes state the fee before you confirm, and it is deducted from the amount sent.
8.Conversion
Where an asset must be converted to settle a fee or a withdrawal, the conversion rate and any spread applied are shown at the time of the operation.
9.Fees we do not charge
There is no account opening fee, no inactivity fee and no charge for viewing your data or exporting your statements. If this ever changes, it will be disclosed here and notified in advance.
10.Net versus gross
All fees compound against your capital. A strategy can produce a gross gain and still leave you with a net loss after costs. Figures labelled net are after the charges described above; figures labelled gross are not.
11.Sandbox note
In the current sandbox deployment no real money changes hands, so no fee shown has actually been collected. Fee mechanics are simulated so the accounting can be inspected end to end, not to demonstrate real charges.