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Fees

Our fees aren't just low, they're transparent too.

Fees with referrals

Mycelium's referrals program allows traders to access lower fees, and referrers to access commissions. We want to be incentivising traders to access those benefits and be rewarded for their trading loyalty with our platform. The more volume you trade, the higher discount and commission you can access! More information on referrals can be found here. You can generate your referral code and track your commissions via the Referrals page here.

Entry and Exit Fee

Traders will be charged both an entry, and an exit fee. Entry fees will be 0.09% of the trader’s notional value. Exit fees will also be 0.09% of the trader’s notional value. The fees are swapped to ETH before being sent to the fee pool.
The entry fee will be transferred straight from the user’s margin to the fee pool where it will then be sent to the LP pool (70%), Trader Rewards pool (5%), and the Mycelium treasury (25%). The exit fee will also be sent from the user’s margin to the fee pool when the position is closed.

(Potential) Spot Swap Fee

Levered long positions require their margin in the asset which is being traded (e.g. if you're 10x long ETH, you need to margin your position in ETH). Levered shorts positions require their margin in any of the stablecoins in the pool.
A trader who does not have the correct margin for that position, will be required to swap that asset for the correct margin asset. Users will be charged the appropriate spot swap fee for this conversion. This is to prevent deposits from being used as a zero fee swap. Withdrawing of collateral from longs and shorts do not have this fee. See Trading Fees for more details.

Borrowing Fees

Traders will be charged a borrowing fee on the total notional value of their position. The borrowing fee rate will increase as the utilisation of the individual asset in the liquidity pool increases. The increase in borrowing fee rate deters the utilisation of any given asset reaching 100% due to the high costs of maintaining these positions. This is to ensure the liquidity pool's funds remain liquid.
The borrowing fees are paid out of the user’s margin when their position is settled, is swapped to ETH before being sent to the fee pool. The fee per hour will vary continually based on utilization.

Bid-Ask Spread

There is no bid-ask spread on BTC and ETH.
There is a small bid-ask spread on the long tail assets. The bid ask spread is the difference between the price a user enters and exits a position. For long-tail assets, the traders' execution price will now be the current oracle price plus or minus a small spread. Users will enter long positions and close short positions at a higher price than they will close long positions and open short positions. The bid-ask spread revenue is entirely received by LPs and will be realised via the appreciation of the MLP token.
Asset
Bid-Ask Spread (excluding entry/exit fee)
ETH (0x82aF49447D8a07e3bd95BD0d56f35241523fBab1)
0
BTC (0x2f2a2543B76A4166549F7aaB2e75Bef0aefC5B0f)
0
LINK (0xf97f4df75117a78c1A5a0DBb814Af92458539FB4)
0.44%
UNI (0xFa7F8980b0f1E64A2062791cc3b0871572f1F7f0)
0.44%
CRV (0x11cDb42B0EB46D95f990BeDD4695A6e3fA034978)
0.88%
BAL (0x040d1EdC9569d4Bab2D15287Dc5A4F10F56a56B8)
0.88%
FXS (0x9d2F299715D94d8A7E6F5eaa8E654E8c74a988A7)
0.88%