Verslan BUBE charges a single entry fee at match, tiered by duration from 0.025% to 0.50% of notional. Long-duration swaps (15 days, 1 month, 1 year) add a 0.10% settlement fee at expiry, paid by the losing side. No funding rates. No spread games. No surprise debits.
The example column assumes a notional of $10,000. The fee scales linearly with your notional. Both bull and bear pay the same entry fee.
| Duration | Tier | Entry fee | On $10,000 | Notes |
|---|---|---|---|---|
| 15 minutes | 15m | 0.025% | $2.50 | min margin 1% |
| 30 minutes | 30m | 0.050% | $5.00 | min margin 1% |
| 1 hour | 1h | 0.10% | $10.00 | min margin 2% |
| 3 hours | 3h | 0.15% | $15.00 | min margin 2% |
| 6 hours | 6h | 0.15% | $15.00 | min margin 2% |
| 12 hours | 12h | 0.15% | $15.00 | min margin 2% |
| 24 hours | 24h | 0.15% | $15.00 | min margin 2% |
| 15 days | 15d | 0.20% | $20.00 | + 0.10% settlement |
| 1 month | 1mo | 0.35% | $35.00 | + 0.10% settlement |
| 1 year | 1yr | 0.50% | $50.00 | + 0.10% settlement |
Charged at expiry — both the winner and the loser pay 0.10% of notional. Short and medium swaps (15 min → 24 h) have no settlement fee — only the entry fee at match.
If your position is auto-closed at 95% margin depletion, the protocol sweeps whatever remains of your margin (max 5%), but the fee is hard-capped at 2% of notional. Anything above that cap is refunded to you.
2% of your margin goes to the counterparty as compensation, 1% to Verslan. Your current mark-to-market PnL is settled normally on top of the penalty.
BUBE is bilateral, not perpetual. No 8h funding skim.
Match price is the Hyperliquid mid — no maker/taker spread.
No leverage borrowing. Margin is your maximum loss.
Move USDC in and out without protocol charges.
Every fee above is what you'll see in the swap ticket — to the cent.