> For the complete documentation index, see [llms.txt](https://docs.level.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.level.finance/tutorials/trading-tutorials/fee.md).

# Fee

* **Position fee**: 0.05% of position size
* **Execution fee**: fee paid to the network to execute your trade
* **Swap fee**: ranging from 0% to 0.65% depending on the pool weight of the asset used for collateral
* **Borrowing fee**: calculated dynamically based on the asset utilization rate

Opening or closing a position incurs a 0.05% fee based on the Position Size of the trade. Once a request has been made to open, close, or edit (deposit/withdraw) a position, keepers execute the actual trade in a separate transaction. This second transaction incurs an ‘Execution Fee’, paid to the network, and is displayed in the trade confirmation box.

Depending on the trade opened, a specific type of collateral is required (ETH for ETH longs, BTC for BTC longs, and USDT for any shorts). If you open a position with a different collateral asset than that required, the collateral will be automatically swapped, incurring a regular swap fee. Depending on each LEVEL Liquidity Pool's current and target weights, this swap fee can range from 0 - 0.65% of the Collateral Size.

A borrowing fee is also applied to open positions, paid every hour and calculated dynamically based on the asset utilization rate up to a maximum borrowing fee of 0.01% per hour at 100% utilization.