Document how fees are charged

[fhenneke]

Adds a "How fees are charged" section to the fees page, documenting how protocol and partner fees are computed from publicly available data.

• Describes the three inputs that fully determine the fees of an executed order: the on-chain execution, the fee policies attached to the order in each auction, and the quote.
• Documents the iterative computation in reverse policy order, including the modified factor formulas and why the protocol computes fees this way (only the settled amounts are observable on-chain).
• Adds a worked example with three fee policies.

🤖 Generated with Claude Code

Summary by CodeRabbit

• Documentation
  • Added detailed guidance on how protocol and partner fees are charged during order execution.
  • Documented fee calculation rules, ordering, formulas, caps, and zero-fee scenarios.
  • Included a worked example explaining fee and amount calculations.
  • Added information about viewing computed protocol fees through the trades API.
  • Noted that fee behavior and ordering may change through governance.

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Project	Deployment	Actions	Updated (UTC)
docs	Ready	Preview	Jul 24, 2026 10:48am

[coderabbitai]

No actionable comments were generated in the recent review. 🎉

ℹ️ Recent review info

⚙️ Run configuration

Configuration used: defaults

Review profile: CHILL

Plan: Pro Plus

Run ID: f8de5495-dfd6-4106-b929-122122878389

📥 Commits

Reviewing files that changed from the base of the PR and between c582f1d and f3117ae.

📒 Files selected for processing (1)

• docs/governance/fees/fees.md

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📝 Walkthrough

Walkthrough

The fees guide now explains how fees are embedded in settlement, calculated from ordered fee policies and quotes, and derived iteratively. It adds formulas, a worked example, API exposure details, and notes about implementation-dependent ordering.

Changes

Fee charging documentation

Layer / File(s)	Summary
Fee calculation model docs/governance/fees/fees.md	Documents embedded settlement fees, fee-policy ordering, reverse iterative calculation, fee-factor references, volume fees, and surplus or quote-improvement formulas.
Worked example and implementation notes docs/governance/fees/fees.md	Adds step-by-step fee calculations, the executedProtocolFees API field, order-dependence details, and a governance caveat about current implementation behavior.

Estimated code review effort: 2 (Simple) | ~10 minutes

Possibly related PRs

• cowprotocol/docs#596: Documents related fee and amount composition concepts in the order-formation flow.

🚥 Pre-merge checks | ✅ 5

✅ Passed checks (5 passed)

Check name	Status	Explanation
Title check	✅ Passed	The title clearly and concisely summarizes the main change: documenting how fees are charged.
Description check	✅ Passed	The description covers the purpose and key changes, though it does not use the exact template headings.
Docstring Coverage	✅ Passed	No functions found in the changed files to evaluate docstring coverage. Skipping docstring coverage check.
Linked Issues check	✅ Passed	Check skipped because no linked issues were found for this pull request.
Out of Scope Changes check	✅ Passed	Check skipped because no linked issues were found for this pull request.

✨ Finishing Touches

🧪 Generate unit tests (beta)

• Create PR with unit tests
• Commit unit tests in branch partner_fee_example

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