> For the complete documentation index, see [llms.txt](https://elysia.gitbook.io/elysia-perps/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://elysia.gitbook.io/elysia-perps/mechanics/fees.md). # Fees Elysia Perps charges fees in only two places: when your order **trades**, and if your position is **liquidated**. Funding payments are exchanged directly between traders and are not a fee. See [Funding](/elysia-perps/mechanics/funding.md). ## Trading fees Trading fees are **set per market**. The rates below are the current values on the live Elysia Perps market; a market launched on the module can set its own. Every fill is charged a fee on its **notional value** (price × size): | Role | Fee (Elysia Perps) | When | | --------- | ------------------ | ------------------------------------------------------------------------------------- | | **Taker** | **0.05%** | Your order removes liquidity: a market order, or a limit order that fills immediately | | **Maker** | **0.02%** | Your resting limit order is filled by someone else: it added liquidity | A single order can be charged as both: the part that fills immediately pays the taker fee, and any remainder that rests on the book and fills later pays the maker fee. Whether an order is maker or taker is explained in [Order Types](/elysia-perps/trading/order-types.md). ``` trading fee = notional × fee rate ``` For example, a market buy of 0.1 BTC at $95,000 has a notional of $9,500 and pays a taker fee of `$9,500 × 0.05% = $4.75`. ## Funding is not a fee While a position is open, **funding** is paid between long and short traders to keep the market price aligned with the index. The protocol takes no cut of it. Depending on the market, funding can be paid *or* received. Full mechanics are in [Funding](/elysia-perps/mechanics/funding.md). ## Liquidation fee If a position is liquidated, a **liquidation fee of 0.5% of the position's value** is charged out of its remaining margin. It applies *only* on liquidation (you never pay it on a normal close), and it funds the insurance backstop that absorbs bad debt. This rate is currently a platform-wide setting (0.5% on Elysia Perps). The best way to avoid it is to avoid liquidation: keep a margin buffer and watch your leverage. See **Risk & Security → Liquidation Risk**. ## Where to go next * How funding is calculated and exchanged: [Funding](/elysia-perps/mechanics/funding.md). * What happens at liquidation: [Liquidation](/elysia-perps/mechanics/liquidation.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://elysia.gitbook.io/elysia-perps/mechanics/fees.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.