vsHead-to-Head Comparisons
Terminal (formerly Padre) vs Photon SOL (TinyAstro): Net Fee & Rebate Comparison (2026)
Direct comparison of standard schedules, net effective costs after applying VIP codes (vip25 vs VIP25) and settlement rules.
Terminal (Padre) Net Taker
0.65%
Photon Net Taker
1%
Lower Net Cost Winner
Terminal (Padre)
Side-by-Side Fee & Rebate Audit: Terminal (Padre) vs Photon
| Specification | Terminal (formerly Padre) | Photon SOL (TinyAstro) |
|---|---|---|
| Standard Maker / Taker | 1% / 1% | 1% / 1% |
| VIP Rebate Kickback | 35% (vip25) | 0% (VIP25) |
| Net Maker / Taker After Rebate | 0.65% / 0.65% | 1% / 1% |
| Net Annual Cost at $2.5M/mo | $195,000 / yr | $300,000 / yr |
| Rebate Payout | Claimable SOL in Rewards tab | Photon Points & Weekly Leaderboard Rewards |
| KYC & Custody | No KYC (Non-custodial) (Self-custody) | No KYC (Phantom connect) (Self-custody) |
| Max Leverage | Spot + Trenches | Spot Memecoins |
| Action | Claim Terminal (Padre) 35% | Claim Photon 0% |
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Frequently Asked Questions
Is Terminal (Padre) or Photon cheaper after VIP rebates?
With 35% back on Terminal (Padre) (code vip25) and 0% back on Photon (code VIP25), use the calculator on this page to compare net costs at your exact maker/taker mix.
Can I use both Terminal (Padre) and Photon codes at the same time?
Yes. Active traders frequently split volume or funded allocations across both Terminal (formerly Padre) and Photon SOL (TinyAstro) to diversify counterparty risk.
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