# Platform Fees

### 1. Close an order

When **closing an order you created**, whether it's an order to buy or sell, you will incur 0.5% fee.

This fee is **charged only on your claimable collateral or deposit**, means the unfilled amount from buyers or sellers.

The smart contract will **automatically deduct this fee** from that amount **when you reclaim your claimable collateral or deposit funds**.

<figure><img src="https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2FL6fIX98qUT8yCeJHEZDB%2Fimage.png?alt=media&#x26;token=e09ef063-3e00-4be6-b08a-fdca52583e64" alt=""><figcaption></figcaption></figure>

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### 2. Settle an order

When **settling buy token order**, you are required to pay a platform fee.

This fee is **charged only on your settlement amount.**

The smart contract **automatically deducts this fee** when you settle the buy order, enabling you to claim your collateral and the settlement amount.

<figure><img src="https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2FICW8yk4mSDdUnDumB4Bq%2Fimage.png?alt=media&#x26;token=ab539232-c39d-4d74-8535-09fba3f2c224" alt=""><figcaption></figcaption></figure>

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### 3. Buy token

When you make an order to buy or fill another user’s order to sell, a **2.5% platform fee** applies.

* The fee is based on the **total tokens purchased**.
* It is deducted only after the settlement is successfully completed.

<figure><img src="https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2F104GpjEG5L3OBck5xf14%2Fimage.png?alt=media&#x26;token=4771b403-34c9-4e4f-862e-68d298c22a55" alt=""><figcaption></figcaption></figure>

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### **4. Cancel an order**

When **cancelling a buy token order** because the seller failed to deliver (ghosting), fees apply to both parties:

* 2.5% fee is charged from the buyer’s deposit.
* 2.5% fee is charged from the seller’s collateral.

The smart contract **automatically deducts this fee** when you cancel the buy order, allowing you to claim both your initial deposit and the compensation.

<figure><img src="https://640655427-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIZ0DIaAx9IWoM4I1YGdV%2Fuploads%2FPFoelUtHt063qeqcGaUk%2Fimage.png?alt=media&#x26;token=72c3c020-e0e5-49ac-8fda-80ae8b885d57" alt=""><figcaption></figcaption></figure>

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### FAQ

<details>

<summary>What type of fees are there on Whales Market?</summary>

Whales Market charges platform fees for specific actions. These fees are automatically deducted by the smart contract from your collateral, deposit, or settlement amount, depending on the action.

</details>

<details>

<summary>Do I have to pay a fee when buying a token?</summary>

Yes. When you buy a token, a 2.5% platform fee is applied based on the total tokens purchased. This fee is only deducted after the settlement is successfully completed.

</details>

<details>

<summary>Do I have to pay a fee when closing an Order?</summary>

Yes. When you close an Order, a fee will be charged. This fee applies only to the unfilled amount and is automatically deducted when you reclaim these funds.

</details>

<details>

<summary>What happens if I cancel an Order because the seller failed to deliver?</summary>

If an Order is canceled because the seller failed to deliver, a 2.5% fee will be deducted from both the buyer's deposit and the seller's collateral.

</details>

<details>

<summary>Is there a fee when settling an Order?</summary>

Yes. When settling a buy token Order, you must pay a platform fee. This fee is automatically deducted from your settlement amount by the smart contract.

</details>