Trading Fees

Open / Close Fees​

The trading fee to open a position is 0.05% or 0.07% of the position size, similarly there is a 0.05% or 0.07% fee when closing the position. This applies for increasing the position size of an existing position and partially decreasing a position size as well.

If the trade increases the balance of longs and shorts then the fee would be 0.05%, otherwise the fee would be 0.07%.

Swap Fees​

The fees for a normal swap are 0.05% or 0.07% of the swap amount.

If the trade increases the balance of tokens in the pool then the fee would be 0.05%, otherwise the fee would be 0.07%.

The fees for stablecoin swaps are 0.005% and 0.02% of the swap amount.

If the trade increases the balance of tokens in the stablecoin pool then the fee would be 0.005%, otherwise the fee would be 0.02%.

Price Impact​

There may be a positive or negative price impact for increasing / decreasing positions and for swaps.

If the trade improves the long / short balance or tokens in the pool then there would be a positive price impact, otherwise there would be a negative price impact.

For increasing / decreasing positions, a positive price impact would result in an entry / exit price that is more favourable for your position, e.g. if opening a long position with a positive price impact, the position's entry price would be lower. A negative price impact would result in a entry / exit price that is less favourable, e.g. if opening a long position with a negative price impact, the position's entry price would be higher.

For swaps, a positive price impact would increase the amount of tokens received while a negative price impact would decrease the amount of tokens received.

The price impact values can be viewed on the interface when making a trade.

Funding Fees​

There may be positive or negative funding fees while a position is open. If there are more longs than shorts then longs would pay a funding fee to shorts, if there are more shorts than longs then shorts would pay a funding fee to longs.

The funding fee rate can be viewed on the interface when making a trade. Note that the rate will change over time based on the balance of longs and shorts.

If you receive positive funding fees for your position, these fees can be claimed by using the "Claim" button in the "Claimable Funding" box of the Trade page.

Borrowing Fees​

To avoid a scenario where liquidity is fully reserved by a user opening equal long and short positions for a small cost, there is a borrowing fee for open positions. If there are more longs than shorts then longs would pay the borrowing fee, if there are more shorts than longs then shorts would pay the borrowing fee. This borrowing fee also helps to provide incentive for more liquidity to be added in the event that all liquidity is reserved for positions.

The borrowing fee rate can be viewed on the interface when making a trade. Note that the rate will change over time based on the pool utilization percentage.

Execution Fee​

There are two transactions involved in opening / closing a position:

• User sends the first transaction to request open / close / deposit collateral / withdraw collateral

• Keepers observe the blockchain for these requests then execute them

The cost of the second transaction is displayed in the confirmation box as the "Max Execution Fee". This network cost is paid to the blockchain network when the order is executed. This cost is overestimated to handle potential increases in gas price, when the order is executed, any excess execution fee is sent back to your account.