💰Dynamic close fee for Degen Mode

APX V2 Degen Mode uses a dynamic close fee model. This fee is designed to charge fees by PnL and protect users from losses.

How does it work?

where:

• Pnl is the profit or loss on the position

• shareRate is the share rate, which is the percentage of the notional that is paid in fees

• Notional is the amount of money that is used to open the position

• closeMinRate is the minimum closing fee rate, which is the lowest amount that you can pay to close a position

Parameters:

Example:

For example, if you have a position with a profit of $100, a share rate of 15%, and a notional of $600, then the closing fee rate would be:

Closing fee rate = Max(100 * 15% / 600, 0.03%) = 0.03%

In this case, the closing fee rate would be 0.03%, which is the minimum closing fee rate.

Note:

The execution fee will only be charged when a position is opened. It is set at 0.5 USD (BNB Chain) / 0.2 USD (Arbitrum)/ 0.01 USD (opBNB)/ 0.3 USD (Base) similar to what is being charged when trading classic perpetual trading pairs. There is no opening position fee.

In the event of liquidation, the 85% liquid lost rate includes close fee.