Fees

Open and Close Fee

It is charged when opening and closing positions.

	1-100x	500x, 750x, 1000x
Open Fee	0.05% of position size	N/A
Close Fee	0.05% of position size	0.03% of position size or 15% of profit, whichever is higher.

Execution Fee

USD 0.3 in collateral token is charged when opening and closing positions to cover the gas cost of our Keeper bots.

Holding Fee

It is charged when closing positions. The fee is calculated based on the size of the position and the duration for which the Strider holds it:

Holding Fee = Position Size * Entry Price * (Close Block - Open Block) * Holding Fee Rate Per Block

Funding Fee

Depending on the position you hold, it can be charged/paid to you when closing position.

It is used to balance the Long and Short Open Interest (OI) and to protect MLP liquidity providers from excessive risk exposure.

• When Long OI > Short OI, the Long positions pay funding fee, while the Short positions earn funding fee.

• When Long OI < Short OI, the Long positions earn funding fee, while the Short positions pay funding fee.

The fee is calculated at every block and automatically adjusts as the market fluctuates. Throughout the position's duration, it may either accrue or incur funding fees intermittently. The fee is deducted/added to the collateral of the position and is reflected in the unrealized PnL of the position, directly impacting the position’s liquidation price. When closing the position, the final funding fee is reconciled.

You may find the funding fee rate under each trading pair.

Note that Funding Fee and Holding Fee are combined, displayed, and charged as Holding Fee on our platform.

Here is how the Funding Fee is calculated:

Base Interest Rate

The fundingFeePerSecondP represents the base interest rate calculated and reported per second by an off-chain keeper. This keeper retrieves the daily closing price for each trading pair from the Pyth API and then calculates this parameter using historical price data.

The base interest rate is determined by multiplying the Annualized Historical Volatility by a constant k:

Base Interest Rate = k * HV

where HV is the Annualized Historical Voltaility

The base interest rate is an annualized interest rate. It is further converted into a per-second rate:

Base Interest Rate Per Second = Base Interest Rate / (365 * 24 * 3600)

Basic Funding Rate

Basic funding rate per second is calculated based on the Long/Short OI and base interest rate discussed above:

If longOI != shortOI

basicFundingRatePerSecond = baseInterestRatePerSecond * (longOI - shortOI) / max(longOI, shortOI)

if abs(basicFundingRatePerSecond) < minFundingFeeR

basicFundingRatePerSecond = minFundingFeeR

else if abs(basicFundingRatePerSecond) > maxFundingFeeR

basicFundingRatePerSecond = maxFundingFeeR

else

basicFundingRatePerSecond = 0

The basic funding rate calculated above is positive when Long OI exceeds Short OI. This suggests that Long positions are required to pay the funding fee to Short positions. Conversely, a negative basic funding rate indicates that Short positions are paying the funding fee to Long positions.

The variable baseInterestRatePerSecond (also known as fundingFeePerSecondP) represents the basic funding fee rate in a one-sided market condition, where either Long OI or Short OI is 0.