10101's Fee Structure

Channels

Channel opening fees:

10101 doesn't charge any fee for opening a DLC Channel (or trading channel). This may change in the future, but rest assured that we will communicate any updates on the subject.

ℹ️ When opening a channel, you're funding a 2-on-2 multisig. This action involves mining fees on the Bitcoin blockchain.

🎁 Please note that the implied mining fees are shared at 50% by 10101's coordinator! 🎁

Channel closing fees:

10101 doesn't charge any fee for closing a DLC Channel (or trading channel).

ℹ️ When closing a channel, you're broadcasting a transaction from the 2-of-2 multisig to your on-chain wallet. This action involves mining fees on the Bitcoin blockchain, however, a reserve has been set aside for this purpose when the channel was opened.

⚠️ Depending on the fee environment, the reserve might be large enough to cover the fee requirements. This transaction could get stuck in the mempool. It's possible to bump this transaction by performing a CPFP transaction. ⚠️

Trading

Order matching fees:

10101 will charge fees to match your position with another. These fees correspond to 0.3% of the QUANTITY (the size of your trade expressed in USD) and are paid in sats at the current exchange rate.

ℹ️ If you open a $1000 long, the equivalent of $3 in sats will be taken by the coordinator.

⚠️ Closing a position is an implicit reverse order and therefore involves new order matching fees.

You can benefit from fee rebates on this item.

Rollovers:

10101 doesn't charge any fee for Rollovers (Renewing a contract before it expires). This may change in the future, but rest assured that we will communicate any updates on the subject.

ℹ️ *When rolling over a position, you're replacing your order with a new one, with an expiry date further in the future.*

Funding rates:

In 10101, funding rates in Bitcoin perpetuals trading are periodic payments to align contract prices with Bitcoin's spot price. Generally, longs pay if the market is bullish 📈, and shorts pay if the market is bearish 📉. This mechanism helps maintain price stability in the market.

The funding fee is calculated using the formula:

funding_fee = funding_rate * (quantity / index_price)

Funding rates details can be viewed directly in the Trade tab.

Fee rebates:

Fee rebates will be applied to the order matching fee for one month from activation. You can benefit from these discounts:

• 👨‍💻 As an active user, by referring users to 10101, provided they have opened a DLC channel and at least one trade.
• 🦐 As a new user, you'll receive an immediate 10% discount when you enter a referral code and open your first trading order.

Tier level	Min. users to refer	Fee rebate
🐟	3	20%
🦈	5	35%
🐋	10	50%

ℹ️ You can also benefit from it based on various promotional operations.

⚠️ The nature and structure of fee rebates may vary in the future. Rest assured that we will communicate on the subject.**