Fees

Program Fees

These fees are charged at the smart contract level and apply regardless of how you interact with the protocol.

Deposits and Withdrawals

There are no fees to deposit into or withdraw from P0.

Borrowing

Borrowers pay interest to lenders. For most Banks, a small portion of borrow interest paid is a fee that goes to the administrator. A small portion also goes to the Bank's insurance fund.

The protocol supports borrow origination fees, but as of November 2025, these have always been zero.

Repayment

There are no fees to repay a debt on P0.

Flashloans

There are no fees to execute a flashloan on P0.

If an Account is partially liquidated, it can lose up to 10% of the cash equity value liquidated. For example, if an account has $100 in assets and $90 in debt (net worth $10), a liquidator seizes $10 of collateral and repays $9 in debt. The account now has $90 in assets and $81 in debt: net worth declined by 10%.

Accounts with a net worth of less than $10 can be fully liquidated: all remaining collateral on the Account is seized and all debt repaid, closing out the Account.

Front-End Fees

These fees are specific to the app.0.xyz front end. You can avoid them by using a different front end, calling the program directly through scripts, CPI, etc.

Slippage

When swapping asset A for asset B, the value of B you get is slightly smaller than the value of A you give up. You can configure your maximum tolerated slippage for all swap operations in settings. Different asset pairs have different slippage expectations.

Swap Fees

When swapping asset A to asset B (for features such as collateral repay), a small fee is charged. You can see the fee in the preview breakdown before approving the transaction. Typically this is around 5 bps (0.05%).

Looping Fees

A "loop" is when a user lends A, borrows B, swaps B to A, and repeats. There is no fee to loop, but since a swap is involved, swap fees and slippage are incurred.

The theoretical max leverage of a pair A/B, given Collateral Weight of A (CW) and Liability Weight of B (LW), is:

L = 1 / (1 - CW/LW)

Example: Asset Weight of A is 90%, Liability Weight of B is 100%.

User has $10 in Asset A

* Deposits $10 in A (worth $9 in collateral), borrows $9 of B
* Swaps B to A, incurring slippage + fees, getting ~$9 in A
* Deposits $9 in A and repeats

Max leverage in this example is 1 / (1 - 0.9/1.0) = 10x.

Under the hood, a loop is built in one step using a flashloan. For example, for 7x leverage:

Start flashloan
Borrow ~$60 of B
Swap B to A, netting ~$60 after fees
Deposit A (initial $10 + $60 = $70)
End flashloan

The user ends up with $70 deposited and $60 in debt. The portfolio net value is still $10. One swap + slippage fee is incurred when opening the position, and another set when closing it.

Strategy Fees

Like loops, there is no fee to open a strategy except the swap fees and slippage incurred to create the looped position. Swapping from one loop pair (A/B) to another (C/D) may incur two sets of swap fees: one to close out the A/B loop, and another to open the C/D loop.

Fees from Integrated Venues

Currently, none of the venues integrated with P0 charge notable additional fees.