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Yes. Auto-close liquidations incur fees that vary by market, generally corresponding to 10% of the market’s Initial Margin Fraction. For example, a 10x market carries a 1% liquidation fee. Liquidation fees are capped at 1% across all markets. Liquidation fees flow to the Insurance Fund, which backstops the exchange in case large market moves cause accounts to have negative equity and incur bad debt. They are not revenue taken by the exchange. Each market’s liquidation fee is set per market and subject to change. Arcus Liquidation Fees Selection (1)