Arbitrum gas fees computed incorrectly
Looks like Koinly is picking up the field that shows up in Arbiscan as "Gas Price Bid," but it should instead pick up the field showing up as "'Gas Price Paid." This is resulting in all my Arbitrum transactions showing up in Koinly with too-high gas fees.
Thank you so much for the Arbitrum support! So excited!
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After a lot of work, this issue is finally fixed. It was unfortunately not an easy fix since most data providers are only providing the gas estimate (including the Arbiscan API).
Transactions will be synced with the correct fees from now on.
In order to fix any older transactions that were incorrectly synced, we would recommend deleting and recreating the wallet or updating the wallet as described here (this method involves deleting all affected transactions and then resyncing them):
Petur: Fantastic news, thanks!!
Petur: Thanks. Can you guys get Optimism fixed next? Same problem w/ tx fees although Optimism fees = (L2 gas fee x L2 gas used) + (L1 gas fee x L1 gas used x L1 scalar) and Koinly api just grabs the L2 part of the equation.
Petur: Wow, I just checked their API and you weren't kidding. What an incredible oversight on arbiscan's part. Thank you for working on this.
Petur: Excellent. Thanks!
Petur: Thank you! Hopefully the fix for Optimism fee problems is similar :)
Petur: I don't think this has been fully solved. When I swap tokens on Arbitrum there is a small fee which is not captured by Koinly. Koinly is treating these txs as zero-fee txs when they are not. I created a new bug report here https://feedback.koinly.io/bug-reports-public/p/arbitrum-fees-not-computed
Petur Any chance of an update on this one? Tax season is here, and this (fairly critical) bug is resulting in wrong Koinly tax reports for anyone using Arbitrum.
Merged in a post:
Arbitrum API: Fees being imported incorrectly
Looks like the deficit of the ETH balance was caused because the fee amounts being imported incorrectly.
The fees for each transaction are calculated as = the amount of gas * gas price paid.
But for the fee calculations, we take "the gas price bid" instead of "gas price paid".
Attaching an example of the cost transaction from this wallet on Sep 15, 2021.
Instead of calculating the fees at 737529*0.000000001242118964=
It should be calculated as
I just deleted and resynced my arbitrum wallet since it appears that newer transactions don't have this issue. Txs from 2021 still don't price correctly. Over a year later and this straightforward problem is _still_ not fixed... meanwhile Arbitrum did more tx than the ethereum network itself a couple of weeks ago
Looks like arbitrum transactions starting Sep 10, 2022 start to report correctly. Everything before that is still wrong
Garrett Holbrook: make me wonder why it work only at certain period. This is after complete deletion and resync? Have you try to remove wallet completely?
T WIN: yes completely deleted the wallet and resynced
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Petur: what is taking so long for simple fix? Tax deadline is almost here and i got thousand of tx to go through!
Koinly team, Arbitrum is becoming a Defi powerhouse. Please put this on the priority list since it will affect a lot of people. It should be relatively easy fix to change code to pull the correct price.
I have this issue too.
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Would love an update on this if possible :) As mentioned, it essentially means that the Tax Report is wrong for Arbitrum transactions.
I recognize that perhaps there's something complex to fixing this that we're not seeing – but the fix seems to be explained in Will's original bug report: The calculation should use "Gas Price Paid" to calculate the fee, but is currently using "Gas Price Bid".
Petur Is there any chance of an update to this issue?