# Reporting

Each fund has its own reporting period. When creating a fund, you can choose from 3 options: 1 week, 1 month, and 1 quarter. Reporting is a key event in DeFunds, and a fund usually undergoes reporting for the following reasons:

* Planned report
  * For weekly funds - every Monday
  * For monthly funds - every first day of the month
  * For quarterly funds - every first day of the quarter (1st of Jan, 1st of Apr, 1st of Jul, 1st of Oct)
* Before [updating one of the contracts](https://defunds.gitbook.io/defunds/security#contract-updates)
* Before [updating fund's permissions](https://defunds.gitbook.io/defunds/security#updating-permissions)

The report consists of several steps that are performed sequentially:

* Charging [PF](https://defunds.gitbook.io/defunds/fees#performance-fee) and [EF](https://defunds.gitbook.io/defunds/fees#execution-fee) fees
* [Deposits](https://defunds.gitbook.io/defunds/for-investors#making-an-investment) accrual
* Fulfillment of [withdrawal](https://defunds.gitbook.io/defunds/for-investors#withdraw) requests
* Moving [indented](https://defunds.gitbook.io/defunds/for-investors#indent) withdrawal requests to the next period
* Saving [HWM](https://defunds.gitbook.io/defunds/fees#performance-fee) value

The report has a limit of **20** operations. One operation is counted for each [deposit](https://defunds.gitbook.io/defunds/for-investors#making-an-investment) or [withdrawal](https://defunds.gitbook.io/defunds/for-investors#withdraw). If the number of operations in the report exceeds the limit, the report is executed in multiple transactions. [Execution fee](https://defunds.gitbook.io/defunds/fees#execution-fee) is charged from fund assets for every report transaction.

{% hint style="info" %}
Note: Only trigger server is authorized to call the report
{% endhint %}

## Autoclosing

During report, these expenses are paid from fund assets in **USDT**:

* [Withdrawals](https://defunds.gitbook.io/defunds/for-investors#withdraw)
* [Performance fee](https://defunds.gitbook.io/defunds/fees#performance-fee)
* [Execution fee](https://defunds.gitbook.io/defunds/fees#execution-fee)

If the fund's **USDT** balance and the **total deposit size** for the last period are insufficient to cover the fund's expenses, the auto-closing process is initiated, in order to get needed amount of **USDT**. Usually it's **110%** of needed amount is closed, to handle high volatility at the moment of closing positions. The order of services during auto-closing is: **GMX -> AAVE -> 0x**. Positions are closed in order from the biggest to the smallest.

Execution fees are calculated using this formula:

$$
(gasFee\*gasPrice+value)\*priceETH
$$

* **gasFee** - amount of gas used for an autoclosing transaction
* **gasPrice** - gas price
* **value** - amount of base currency sent with a transaction (needed for decreasal of GMX positions)
* **priceETH** - price of network's base currency in USDT fetched from a [Chainlink](https://chain.link/) price feed contract

Execution fees are tracked as debt and are charged from Trade contract in USDT every hour.

{% hint style="info" %}
Hint: To avoid unwanted auto-closing, you should close positions in advance to fulfill all withdrawal requests during the [indent](https://defunds.gitbook.io/defunds/for-investors#indent) period
{% endhint %}


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