> For the complete documentation index, see [llms.txt](https://docs.superlend.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.superlend.xyz/products/vaults/high-yield-vaults/fees-and-risks.md). # Fees & Risks ### Fees High Yield Vaults incur fees related to building and unwinding leveraged positions. Fees apply to the total leveraged exposure, not just your initial deposit. #### Entry & Exit Costs When depositing or withdrawing, the following costs may apply: * Flashloan fee (\~0.01%)\ Applied on the leveraged exposure created. * Swap fee (\~0.01%)\ Charged per swap during looping and unwinding. * Slippage (up to \~0.15%)\ Applied when swapping into or out of the base token.\ Slippage is set by the user. The same types of costs apply on withdrawal when leveraged positions are unwound. #### Performance Fee * 15% performance fee * Applied only on profits * Realized when you interact with the vault * Never charged on principal *** ### Key Risks * Market Risk: Asset prices can move against leveraged positions * Leverage Risk: Gains and losses are amplified * Liquidity Risk: Instant withdrawals depend on available reserves * Smart Contract Risk: All interactions are onchain Risk controls reduce risk but do not eliminate it. *** ### Limits & Constraints * Supply Cap: Deposits fail if the vault cap is reached * Slippage: Applies when swapping non-base tokens * Withdrawal Liquidity: Scheduled withdrawals may be required when liquidity is low --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.superlend.xyz/products/vaults/high-yield-vaults/fees-and-risks.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.