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The number you enter as trade size is not the only thing that can affect the final result. Before trading, understand the difference between trading fees, funding, and slippage.

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Trading fees

Leap charges no platform trading fee. Orders routed through Hyperliquid can still incur Hyperliquid’s own trading or network fees. These are external to Leap; review the applicable amount in the order flow and the current venue schedule. Card on-ramp providers can also charge separately.

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Funding

Funding applies to perpetual positions. It is a periodic transfer between long and short holders and can either cost you money or credit your account depending on the current funding direction. On Hyperliquid-backed perpetuals, funding is settled hourly. See Trading → Funding for the full explanation.

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Slippage

Slippage is the difference between the price you expect and the price at which the order actually executes. It becomes more noticeable when:
  • the market moves quickly
  • the order is large relative to available liquidity
  • the market is thin
  • you use an aggressive market order
Leap exposes slippage controls in the trade settings so you can define how much price movement you are willing to accept for applicable orders.

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On-ramp fees

If you buy crypto with a card through a provider such as MoonPay or Transak, the on-ramp provider can charge its own fees. Those costs are separate from trading execution inside Leap and are shown by the provider during the purchase flow.

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Think in total cost

For a short trade, execution cost may matter most. For a position held for longer, funding can become more important. For a large or fast market order, slippage can be the bigger factor. There is no single cost number that describes every trade, so review the order and the market you are actually using.