Trading Fee & Price Impact

Trading Fees

  • Opening/Closing Positions: 0.04% or 0.06% of position size

    • 0.04% if trade balances long/short ratio

    • 0.06% if trade imbalances pool

  • Swap Fees:

    • Regular tokens: 0.05% or 0.07%

    • Stablecoins: 0.005% or 0.02%

    • Lower fee when balancing pool

Price Impact

  • Positive Impact:

    • Occurs when trade balances pool

    • Better entry/exit price than market

    • Increases tokens received in swaps

    • Example: Opening long when shorts > longs

  • Negative Impact:

    • Occurs when trade imbalances pool

    • Worse entry/exit price than market

    • Decreases tokens received in swaps

    • Example: Opening long when longs > shorts

  • Calculation: Based on pool balance and trade size

  • Visibility: Always displayed in interface before trade execution

Price Impact Rebates

  • Threshold: Each market has maximum acceptable price impact (~1%)

  • Rebate Process:

    • Close position with >1% negative impact

    • Excess impact becomes claimable after ~10 days

    • Example: 3% impact → 2% rebate claimable

  • Purpose: Protect traders during high volatility, prevent manipulation

  • Scope: Only applies to closing/decreasing positions

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