ElementFees & costs
The canonical reference for every fee, margin, and leverage parameter on Element.
The one place for every number
This page is the source of truth for Element's fees and risk parameters. Where another page restates one of these numbers, this table is authoritative.
| Parameter | Value |
|---|---|
| Open fee | 0.10% of notional (0.05% when reducing OI imbalance) |
| Close fee | 0.10% of notional (0.05% when reducing OI imbalance) |
| Initial margin | 0.50% of notional (sets the 200x max leverage) |
| Maintenance margin | 0.40% of notional |
| Minimum collateral | $10 USDG |
| Max leverage | 200x (smallest tier) down to 10x (largest) |
| Max open positions per wallet | 64 |
| Liquidation fee | 20% of remaining equity, split 50/50 liquidator and insurance |
| Mark staleness window | 120 seconds (fail-closed) |
| Per-side open-interest cap | $5,000,000 regular hours, $500,000 off-hours |
Trading fees
You pay a fee to open and to close. The base rate is 0.10% of position notional on each side. When your trade reduces the market's open-interest imbalance, taking the lighter side of the book, the rate drops to 0.05%.
Half of every trading fee is added to the liquidity vault; the rest goes to the protocol treasury.
Trading fees are quoted as a percentage of notional. Internally the fee rate is stored in 0.001% units, while every other rate on this page (margins, liquidation fee) is in true basis points. The distinction matters if you integrate directly.
Leverage tiers
Maximum leverage steps down as position notional grows.
| Position notional | Max leverage |
|---|---|
| Up to $100,000 | 200x |
| $100,000 to $200,000 | 100x |
| $200,000 to $250,000 | 50x |
| $250,000 to $1,000,000 | 20x |
| Above $1,000,000 | 10x |
Ongoing costs
- Funding accrues while a position is open and can be positive or negative depending on which side is crowded
- Borrowing accrues per side based on how much of the vault your side is using
- Network gas is paid in ETH and is negligible on Robinhood Chain
- A liquidation charges 20% of your remaining equity if your position is closed out
Minimum collateral
Every position requires at least $10 USDG of collateral. This applies when you open, when a limit or stop increase order is placed, when you partially close (the remainder must stay above $10), and when you remove margin.