💲Fee Breakdown
Opening Fee
A one-time opening fee is charged when a position is opened, designed to cover the cost of initiating trades without charging again on close. This fee is a flat rate for traditional (non-crypto) assets—e.g., a 4 bps fee, equivalent to 2 bps open + 2 bps close on other platforms—kept simple and predictable. More details here.
Crypto Pairs
Fees vary based on leverage and open interest (OI) skew:
"Maker" fee applies if leverage <= 20× and the trade reduces the OI imbalance.
"Taker" fee applies if leverage > 20× or the trade increases the OI imbalance.
For mixed trades (partially balancing, partially new imbalance), maker fees apply to the balancing portion and taker fees to the imbalance-creating portion.
The total opening fee equals the sum of maker + taker charges.
Non-Crypto Pairs
Static Taker fee, offering a straightforward fee model without any OI or leverage adjustments.
Fees per Asset Class
Crypto
maker: 3 bps taker: 10 bps
0
Indices
taker: 5 bps
0
Forex*
taker: 3 bps
0
Stocks
taker: 5 bps
0
Exceptions*
USD/MXN
taker: 5 bps
0
Commodities:
XAU/USD
taker: 3 bps
0
CL/USD
taker: 10 bps
0
HG/USD
taker: 15 bps
0
XAG/USD
taker: 15 bps
0
XPT/USD
taker: 20 bps
0
XPD/USD
taker: 20 bps
0
Oracle Fee
A flat $0.10 fee charged whenever the protocol must fetch and attest an external price (oracle read) to process your action. This covers oracle and automation costs. For market opens, if the transaction reaches chain and fails for any reason, the oracle fee is still charged. The front end blocks most failure cases except slippage, so slippage is the most common reason you might see a fail with the fee consumed.
When the oracle fee is charged (and refunded or not)
Open market order
Yes
No
If the open fails (including due to slippage), collateral is returned but the oracle fee is consumed.
Open limit order (place)
Yes
No
Charged when placing the limit order.
Cancel limit order
—
No
Collateral is returned, but the fee paid at placement is not refunded.
Partial close
Yes
No
Charged per partial-close execution.
Remove collateral (reduce margin)
Yes
No
Charged per request.
Full close (100%)
Yes
Yes, if successful
Fee is charged upfront and refunded on a successful full close. If the close fails (e.g., slippage), the fee is not refunded.
Liquidation Fee
If a position is liquidated, the trader’s remaining collateral is seized and paid out as a negative pnl to the Vault. More details here.
Price Impact
Orders execute at the underlying bid or ask price based on the order’s side and type, unless the pair has Dynamic Spreads enabled—in which case execution occurs at the Price-After-Impact, a dynamically adjusted price that reflects real-time liquidity conditions and short-term order flow balance. Click here to learn more.
Funding Rate (Crypto Pairs)
Applied only to crypto pairs, the funding fee compensates for OI imbalances between long and short sides. It:
Incentivizes OI rebalancing
Minimizes delta exposure for the liquidity buffer
Operates as a zero-sum transfer between traders
Funding fees accrue continuously (compounding per block) and are realized upon position close. More details here.
The funding rate is displayed on the Net Rate (L/S) label. Hover over it to display a tooltip explaining the long/short funding rates.
Rollover Fee (Non-Crypto Pairs)
The rollover fee reflects underlying market carry costs. Applied to non-crypto assets (forex, commodities, indices, stocks). It:
Charges may be different on both sides
Compounds per block are realized when the position is closed
This fee covers the cost of carrying positions over time. More details here.
The rollover fee is displayed on the Net Rate (L/S) label. Hover over it to display a tooltip explaining the long/short rollover fees.
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