> For the complete documentation index, see [llms.txt](https://nobots.gitbook.io/nobots-gitbook/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nobots.gitbook.io/nobots-gitbook/trading/fees.md). # 💸 Fees This page covers all fees on NoBots, including trading fees, swap fees, price impact, funding, borrowing, and network fees. #### 💰 Open / close fees The position fee is 0.05% of the position size. It applies when opening, closing, increasing, or partially decreasing a position. #### 🔄 Swap fees Swap fees on NoBots vary by market type — standard or stablecoin — and whether your swap improves or worsens the pool's balance. All fees are calculated on the swap input amount. Standard swap fees, the fee is 0.05% of the swap amount #### ⏱️ Slippage Slippage is the difference between the expected execution price when you submit an order and the actual price when the order executes, caused by price movement during the brief window while the order is processing. The default allowed slippage is 1% and can be adjusted in settings or directly in the trade box. Slippage applies to market orders only. When you submit a market order, the interface computes an `acceptablePrice` by applying your slippage setting to the mark price. At execution, the contract checks whether the actual execution price satisfies that `acceptablePrice`, and reverts if it doesn't. Slippage on NoBots vs. other platforms On most trading venues, "slippage" refers to the total difference between the quoted price and the execution price, which includes the effect of your trade on market liquidity (price impact). On NoBots, these are two distinct mechanisms\ For a standard swap: * Slippage protects only against oracle price movement between the time you submit an order and when a keeper executes it. * Price impact is a separate adjustment based on pool imbalance, calculated and applied independently at execution time. #### 📉 Price impact On NoBots, opening a position incurs no price impact at entry. The entry price is determined by the oracle price. Price impact is calculated based on the net open interest imbalance caused by both opens and closes, but it is only applied when you close or decrease a position. Net price impact can be positive or negative, up to a market-specific cap. Price impact formula Price impact is calculated from the change in pool imbalance caused by a trade: priceImpact = (initialImbalance ^ exponent × factor) − (finalImbalance ^ exponent × factor) Where: * initialImbalance: the absolute difference between long and short values before the trade. * finalImbalance: the absolute difference after the trade. * factor & exponent: per-market configuration parameters. For swaps, positive price impact increases the tokens you receive, while negative price impact decreases them. #### 💸 Funding fees Funding fees may be a cost or a credit while a position is open. The rate changes over time based on the balance of longs and shorts in the market. Adaptive funding Funding rates gradually adjust over time based on the ratio of long to short open interest. The imbalance ratio used for threshold comparisons and rate adjustments is: longShortImbalance = \[abs(longOpenInterest - shortOpenInterest) / totalOpenInterest] ^ fundingExponentFactor The rate adjusts according to three zones defined by this imbalance relative to two thresholds: * Above stable threshold: The rate increases until the imbalance falls or hits the max cap. * Between thresholds: The rate remains constant. * Below decrease threshold: The rate decreases toward zero. Accrual and settlement Funding fees accrue continuously using per-second arithmetic. The total funding accrued for the paying side over a period is: fundingUsd = sizeOfPayingSide × durationInSeconds × fundingFactorPerSecond #### 🏦 Borrow Fees A borrow fee is applied to open positions to ensure the efficient use of the platform's liquidity pool. It prevents scenarios where traders might try to reserve all available liquidity by opening equal long and short positions at a minimal cost. **How It Works** * Market Imbalance: To help keep the market balanced, the borrow fee is only charged to the side (long or short) that has the larger total open interest. The side with less open interest does not pay a borrow fee. * Dynamic Rates: The borrow fee rate is dynamic and scales based on how much of the pool's liquidity is currently being used. As more liquidity gets locked up in open positions, the fee increases. * Utilization Thresholds: During normal conditions, the rate increases gradually alongside utilization. However, if pool utilization surpasses an optimal threshold, the fee rate spikes sharply. This designed increase helps protect the pool and encourages traders to close out positions during periods of extreme demand. #### 🌐 Network fee Every trade on NoBots involves two transactions: your request and the keeper's execution. The network fee covers the gas cost of the second transaction on World Chain. Because gas prices can spike between your request and the keeper's execution, the interface charges a max network fee that overestimates the likely cost. When the keeper executes your order, only the gas actually consumed is paid, and the remainder is refunded to your account automatically. #### 🪙 Arbitraging NoBots's fee and price impact mechanics reward trades that rebalance pools, creating arbitrage opportunities. * Perps: You can arbitrage positive price impact and funding fees. For example, if WETH long open interest exceeds short open interest, opening a short position reduces the imbalance. You receive a positive price impact (better entry) and earn funding fees while the position is open. * Swaps: You can arbitrage positive price impact on swap markets. If your swap reduces the USDC difference between the long and short token pools, you receive a positive price impact — additional output tokens beyond the baseline swap amount. --- # 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 dynamically by asking a question. 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