# What Fees We Collect Origami collects fees on OPAL V3 vaults through the following mechanisms: ### Performance Fee A percentage of the vault's positive yield is collected by minting new shares to the fee collector address. The performance fee rate is set per vault and is capped by the immutable `MAX_PERFORMANCE_FEE_BPS` constant in the vault contract. Fee accrual is continuous and visible in real time by monitoring the total share supply. {% hint style="info" %} Each vault will display the current performance fee which is set to 0.5% for most OPAL vaults. {% endhint %} The performance fee is subject to change. Fee collection may be paused if the yield is less than 1% for an extended period of time. If the OPAL vault returns are high, the performance fee may be raised to no more than 10% of the APY e.g. if the OPAL vault yield was consistently at 50%, the performance fee may be raised to 5%. There is no automatic performance fee increase or decrease. ### Deposit and Exit Fees Some vaults may charge a fee on deposits, withdrawals, or both. These fees are deducted from the respective token amount before shares are minted (deposit), or before tokens are transferred to the user (exit). Deposit and exit fee rates are documented on each vault's Fee Schedule page. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.origami.finance/the-third-fold-opal/what-fees-we-collect.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.