Novig
Daily activity, published fees, parlay length, and leading markets on Novig.
Contracts traded
Open interest
Parlays
Markets traded
Daily volume
Categories by day
Biggest games by volume
What Novig charges
| Trade type | Maker | Taker |
|---|---|---|
| Pre-game straight | No fee | No fee |
| Live (in-game) straight | No fee | 0.03 × P × (1 − P) per contract |
| Parlay | N/A on app/web; no fee via API | 0.10 × P × (1 − P) per contract, already inside the quoted price |
How these fees are computed — and why one half is a range
The parlay half is exact, and it is exact because the fee is inside the price. Novig quotes parlays all-in, so the price on our tape already contains the fee. The fee is recovered by inverting the venue's own formula rather than by applying it: if the quoted price is Q and the fair price is F, then Q = F + 0.10 × F × (1 − F), which solves to F = (1.1 − √(1.21 − 0.4Q)) / 0.2. Applying 0.10 × P × (1 − P) to the observed price instead would overstate the fee, because the observed price is not the P the schedule refers to. The inversion is checked against Novig's published worked example on every run and the build fails if it stops reproducing it.
The straight half is a range because our feed cannot tell a pre-game trade from a live one. The schedule charges nothing before a game starts and 0.03 × P × (1 − P) once it has, and that distinction turns on whether the event had commenced — a fact the trade file does not carry and the market file cannot supply, because it has no event start time. So the honest published figure is a bound: zero if every straight trade was pre-game,
The maker credit is not computed here, and on the measurable half it is zero anyway. Makers are charged nothing on every trade type, and a credit pays back up to half the taker fee — "up to" being the venue's own wording, a cap rather than a rate. The operative section of the exchange's filing is redacted, so the exact percentage is not available from a primary source and is not guessed at here. It does not affect the parlay figure regardless: the credit excludes parlays outright, and the parlay maker side is not charged, so parlay fees are also exactly what the exchange keeps. Any credit paid on live straights would reduce the pale band, never the solid bar.
The split is exhaustive, which is the check that matters. Parlay contracts plus straight contracts equal this page's own daily volume on every date, to the cent, so the fee calculation neither double-counts a trade nor drops one. Fees are counted on the taker side only, consistent with every other number on this page.