> For the complete documentation index, see [llms.txt](https://docs.antimatter.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.antimatter.finance/antimatter-perpetual-options/core-concept/slippage-and-fees-full-disclosure.md).

# Slippage & Fees (full disclosure)

To sum up, there are 5 factors leading to a gap in the price of an options token upon selling and buying. 

1. Transaction fee (0.5%) + Slippage (0.5%) = 1%;
2. Paying $1.5 worth of BNB can get the user $0.5 worth of BUSD. Both will charge 1% of transaction fees. Hence, transaction fee = 1.5*1% + 0.5*1% = 2%;
3. Meanwhile, BUSD will be swapped into BNB and PancakeSwap will charge 0.3% as the transaction fee;
4. Buying activities will lead to an increase in the price. In this case, Bull token will go from 465.09716 (pre-purchase) to 466.36835 (post-purchase), with a 0.2733% growth. The swap will also cause the price BNB to go up. However, its effect is limited and can be ignored;
5. Selling activity has a reverse process. Hence the price difference is twice of what we discussed above.

For instance, as of Oct. 9th, the price of one +BNB($200) token is 1.597742393051479425 BNB, and the buyer will also get 209.205337167898666200 BUSD upon purchase. Both will charge 0.5% as transaction fee on top of 0.5% of slippage. Hence the total cost comes to 1.613719816981994219 BNB. The user gets 1 +BNB($200) token and 207.113283796219679538 BUSD. PancakeSwap charges 0.3% of transaction fee when swapping these BUSD into 0.488892 BNB. This brings the cost of 1 +BNB($200) token to 1.613719816981994219 BNB - 0.488892 BNB = 1.124827816981994219 BNB. Please note that we didn’t take the price increase caused by buying pressure into consideration.