> For the complete documentation index, see [llms.txt](https://docs.position.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.position.exchange/products/exchange/token-swaps.md).

# Token Swaps

Token Swaps on Position exchange are a simple way to trade one BEP-20 token for another via automated liquidity pools.

![](/files/-MgUgDpubniB2U7Zsu6F)

As our Liquidity is on PancakeSwap, when you make a token swap (trade) on the exchange you will pay a **0.25% trading fee**, which is broken down as follows:

**0.17%** - Returned to Liquidity Pools in the form of a fee reward for liquidity providers.

**0.03%** - Sent to the PancakeSwap Treasury.

**0.05%** - Sent towards CAKE buyback and burn.