Start with the bill the trade creates
Entropy’s fee documentation splits the standard HIP-3 charge between the protocol and deployer. The rebate concerns the deployer portion. Market settings and account discounts affect the original bill, so copying a percentage into a spreadsheet before checking the executed fee can produce the wrong answer.
Separate three figures in your notes: the total fee paid, the portion eligible for return, and the amount actually credited. That makes a later comparison with another venue much clearer.
Calculate on the smaller base
The early-bird table starts at a 60% self-rebate. Hypothetically, a $24 fee split equally leaves $12 eligible: the return is $7.20, and $16.80 remains before other costs.
Use the higher eligible self-rebate or referred-user benefit, never their sum. Check the assigned account tier.
What the September payout confirms
On 12 September, Entropy announced that its first trading and referral rebates had been distributed in HYPE bought with deployer fees. Claims were available from the account’s referral page. That establishes a fee-rebate payout; it does not establish a newly issued Entropy token.
The rules require an Entropy account and qualifying Entropy-deployed markets. Merely using the website to reach another deployer’s market is not enough.
Keep a decision record you can update
Before relying on a rebate, record the market identifier, account tier, fee charged, expected return and claim status. Save the dated rule link alongside those figures. When the terms change, you can identify which assumption changed instead of trying to reconstruct an entire trading history.
The useful comparison is the cost of the trade you already intended to make. More turnover can increase fees and market exposure as well as the displayed reward. Regional eligibility must be checked separately; the current restricted list is wider than a simple “not in the United States” rule.