Short selling fee at IB

Hello,

I'm new to short selling. IB has a fee rate of 8% for GME as of today. Is this fee assessed on the price of GME I borrowed at or the daily closing price? Say I shorted 100 shares of GME at $100 and few days later it is trading at $50, will the 8% rate be assessed on the $10,000 or current market value of $5,000?

Thanks.

 

It should the current market price, rounded up to the nearest dollar.

 

I think GME is being restricted everywhere, a bit late for shorting that thing

GME @53 OMG!!! LOL

 

Not since Monday. I just shorted GME at 73 at IBKR.

 

fuck the millennial losers are back, the damn thing is back to $79 !!!

 

I feel guilty about shorting. People from low income families are betting their life savings going long on GME. So I'm only shorting small qty so they can exit before this thing tanks again.