How the desk actually did.

Settlement returns model ONE V2 taker fee — the entry buy. A contract held to official resolution has no exit trade, so no exit fee applies.

Paper-exit returns model TWO V2 taker fees — the entry buy and the exit sell — because closing early is a taker round trip. Both legs use Polymarket's share- and price-dependent fee formula evaluated CONTINUOUSLY at the configured weather fee rate. Polymarket rounds the fee it actually charges to 5 decimal places per trade; this replay applies no trade-level venue rounding, so a modeled figure can differ from the venue's charge in the fifth decimal per leg.

Accounting v2. Settlements model an entry taker fee; paper exits model entry plus exit taker fees. Both are MODELED replays of the continuous analytical fee formula over recorded entry and exit prices at the published modeled_taker_fee_rate — they are not proof of the fees actually charged. Polymarket rounds the charged fee to 5 decimal places per trade and this replay applies no trade-level venue rounding (venue_rounding_applied is false), so figures are not venue-reconciled; they also model no slippage, partial fills, or price impact. Hit rate is settlement-only and is computed on the primary resolver-grade cohort; managed return covers the broader eligible settlement population plus paper exits, so the two figures have different denominators — see hit_rate_coverage. Positions whose return cannot be expressed are reported as a separate count and are excluded from every sum and average rather than treated as zero; when return_coverage_complete is false the published returns are priced-position subtotals, not totals. Under v1, paper exits carried no modeled fee, so rolling figures published before this version may be restated under the versioned convention.

Modelled fee rate

5.00% per taker leg

Venue rounding

not applied — venue rounds to 5 decimals

Accounting

scorecard-accounting-v2