> For the complete documentation index, see [llms.txt](https://docs.bounce.tech/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bounce.tech/basics/fees.md).

# Fees

Bounce charges streaming and redemption fees on all leveraged tokens. All fees that are charged by Hyperliquid (funding, rebalancing) are realized directly by the underlying perpetual contracts.

***Streaming fee: 2.0%***\
Annualized fee that is continuously charged on the notional value of a position. 

***Redemption fee: 0.3%***\
The redemption fee is charged on the amount of USDC redeemed multiplied by the target leverage of the position.

### Rebates

Users can unlock rebates by using a referral link. Rebates are calculated as a percentage of the redemption fee and can be claimed in the Bounce rewards section.

***Rebate: 10%***

To learn more about the Bounce referral program, please refer to the following section:

{% content-ref url="/pages/IfLRTxdGBXF9wWCK4NFD" %}
[Referral Program](/community/referral-program.md)
{% endcontent-ref %}


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