> For the complete documentation index, see [llms.txt](https://docs.wasabi.xyz/perps-lite-paper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.wasabi.xyz/perps-lite-paper/fees.md).

# Fees

1. **Trading Fee:** Trading fees range from 0.1% to 0.5%. ETH trading is 0.1% while more exotic pairs are 0.5%. Trading fees are charged during both the opening and closing of positions.
2. **Borrow Rates:** The interest rate is a function of the LP pool utilization rate and a max APR, which Wasabi determines based on volatility. Borrow interest is charged hourly.
3. **Liquidation Penalty:** 5% of the residual value post liquidation will be charged as a liquidation penalty to the trader.