# Fees

When you trade with leverage, you pay two types of fees. The **transaction fee** is a flat charge each time you open or close a position. The **borrowing fee** accrues over time based on the amount you’ve borrowed. Together, they make up the total cost of trading with leverage.

### Transaction fees

| Trade size | Fee                        |
| ---------- | -------------------------- |
| $5-$100    | 0.20% with a $0.25 minimum |
| >$100      | 0.10%                      |

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Fees subject to change - see [Terms](https://moonshot.com/terms) for more
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### Leverage fees 

When you open a leveraged position, you’re borrowing from a liquidity pool to increase your exposure. That borrowing comes with a cost: **borrowing fees,** designed to reward liquidity providers for supplying assets and to keep the system healthy as traders take on leverage.\
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Instead of long vs. short funding payments, as some exchanges do, we use a straightforward borrow-fee model. Borrowing fees compound hourly based on the amount you’ve borrowed, and may change over time based on market conditions. \
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These are outstanding fees that are accumulated over the total time your position is open, and are paid the next time you modify or close your position. If unpaid fees get too close to your position's value, your position will be liquidated to cover them.