Trading Fees
Fees
The cost to open / close a position is 0.25% of the position size. However there will be a loyalty program with discounts for a big volume traders soon.
The collateral of long positions is the token being longed, for ETH longs the collateral is ETH and for BTC longs the collateral is WBTC, etc. The collateral of shorts positions is any of the supported stablecoins e.g. USDC, USDT, DAI, FRAX. If a swap is needed when opening or closing a position then the regular swap fee would apply, this fee is 0.2% to 0.8% of the collateral size, the exact fee depends on whether the swap improves balance or reduces it.
There is also an execution fee detailed below which is used to pay for the blockchain network costs.
Execution Fee
There are two transactions involved in opening / closing / editing 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 "Execution Fee". This network cost is paid to the blockchain network.
Fee Structure
FRX for now uses only fix fees system on all type of the orders. Limit orders add depth and liquidity to the order book as they are orders that are not executed and filled immediately. Market orders, on the other hand, are executed and filled immediately, removing liquidity from the pool. Maker fees are at 0.25%, and taker fees are at 0.25%. FRX will introduce a tiered trading fee structure soon so traders can enjoy even greater cost reductions on fees, the more they trade.
Will I be charged if I cancel my order?
No, if your order is open and you cancel it, you will not be charged a fee. Fees are only charged on filled orders.
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