> ## Documentation Index
> Fetch the complete documentation index at: https://docs.livepeer.org/llms.txt
> Use this file to discover all available pages before exploring further.
# Set Pricing
In this guide we'll go over how to set and configure pricing to charge for
transcoding advertised to gateways off-chain.
# Setting WEI Price
## Choose a Price
To charge for transcoding orchestrators set a price per pixel denominated in Wei
(1 ETH = 1e18 Wei), advertised to gateways off-chain.
To get support for setting a price that will allow you to receive work on the
network, contact us on our [Discord](https://discord.gg/livepeer) channel.
## Configure Automatic Price Adjustments
The default behavior of orchestrators is to automatically adjust their
advertised price per pixel based on the estimated overhead for redeeming a
ticket. The overhead for redeeming a ticket is the estimated transaction cost of
the redemption transaction divided by the face value of the ticket represented
as a percentage. For example, given a base price per pixel of 1000 wei:
* If the overhead is 1%, the advertised price would be 1010 wei
* If the overhead is 20%, the advertised price would be 1200 wei
* If the overhead is 50%, the advertised price is 1500 wei
The motivation for this automatic price adjustment mechanism is to allow
orchestrators to dynamically adjust their price to compensate for higher
overheads for ticket redemptions when gas prices are high.
Orchestrators can disable this mechanism and advertise a constant price by
setting the `-autoAdjustPrice=false` flag.
## Set a Price With `livepeer_cli`
You can set the base price per pixel using the `livepeer_cli`:
1. Run `livepeer_cli`
2. Enter the number corresponding to the `Set orchestrator config` option
3. You will get prompted to enter values for several fields.
If you only want to set the price, you can continue using the existing default
values.
4. You will get prompted for the price per pixel:
5. Set the number of pixels in a single unit of work you will charge for.
**For example:**
```bash theme={"theme":{"light":"github-light","dark":"dark-plus"}}
Enter a transcoding base price in wei per pixels
eg. 1 wei / 10 pixels = 0,1 wei per pixel
Enter the number of pixels that make up a single unit (default: 1 pixel):
```
The Default setting `option (1)` is typically used.
6. Set the price (in wei) that you will charge per unit of work:
```bash theme={"theme":{"light":"github-light","dark":"dark-plus"}}
Enter the price for 1 pixel in Wei (required):
```
7. To verify the price was updated, check the log from your node.
# Setting fiat-denominated price
With the release of go-livepeer version 0.8.0, we are introducing a feature to
allow specifying the transcoding price per pixel in USD. This is a
backward-compatible change, which still supports setting the price in Wei but
now gives the option of using custom currencies instead, with USD being the
default.
The feature works by integrating with a
[Chainlink Price Feed](https://docs.chain.link/data-feeds/price-feeds) to fetch
the quote of the given currency and periodically update the transcoding price on
the running node. This is meant to be performed both in Bs and Os, keeping the
price over the network consistent over time.
## Configuration
To set a price in USD, one just needs to add the `USD` suffix to the value
provided in the `-pricePerUnit` flag sent to the `livepeer` binary. If the
currency suffix is missing, it will default to Wei to keep
backward-compatibility.
Given the price per pixel in USD is going to be a really low number, the
recommendation is to also set the `-pixelsPerUnit` flag so a more human-friendly
number can be specified on the price per unit. The `-pixelsPerUnit` acts as a
denominator on the `-pricePerUnit` and the recommendation is to keep it constant
over time, updating only the price per unit as seen fit.
e.g.:
* To set a price of **\$4.10 E -13**
```jsx theme={"theme":{"light":"github-light","dark":"dark-plus"}}
-pixelsPerUnit 1e12 \
-pricePerUnit 0.41USD
```
* To set a price of **\$6.65 E -14**
```jsx theme={"theme":{"light":"github-light","dark":"dark-plus"}}
-pixelsPerUnit 1e12 \
-pricePerUnit 0.0665USD
```
Notice that the `-pixelsPerUnit` flag supports the exponential notation, so it’s
easier to understand the value being set. The `-pricePerUnit` does not support
it though, so a standard decimal notation must be used. This is also an
incentive to use the `-pixelsPerUnit` value in order to keep the `-pricePerUnit`
as an easily readable value.
This feature is also supported by gateways, with the `-pixelsPerUnit` flag
staying the same, while the `-maxPricePerUnit` should be set instead for the max
price. The currency is specified in the same format.
### Advanced
The `livepeer` binary is automatically configured with the ETH/USD price feed in
the Arbitrum mainnet. If you are running the node on a different network or
would like to use a different currency to peg the price to, you should configure
the `-priceFeedAddr` with the address of the corresponding price feed. You can
search for existing price feed addresses on
[Chainlink website](https://docs.chain.link/data-feeds/price-feeds/addresses?network=ethereum\&page=1).
Notice that the price feed must have both `ETH` and your desired currency in the
quote pair. You should then specify the price per unit with the currency suffix
corresponding to the currency provided by the price feed.
e.g.
* To use `USD` as the price currency in Ethereum mainnet:
```jsx theme={"theme":{"light":"github-light","dark":"dark-plus"}}
-priceFeedAddr 0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419 \
-pricePerUnit 1USD
```
* To use `BTC` as the price currency on Arbitrum mainnet:
```jsx theme={"theme":{"light":"github-light","dark":"dark-plus"}}
-priceFeedAddr 0xc5a90A6d7e4Af242dA238FFe279e9f2BA0c64B2e \
-pricePerUnit 1BTC
```
The `-pixelsPerUnit` flag is independent of this. Also keep in mind that while
custom currencies are supported, Livepeer Studio will be pegging their
`-maxPricePerPixel` to USD so the recommendation is to also keep the default USD
configuration on your node to stay in sync with the rest of the network.