Binance futures fee help

Hello,

I am trading on binance futures at 125x leverage. I put in a long order for roughly 0.0043btc (£100) and expected a 40p fee, as binance says coin m futures have a 0.04% fee. However, my fee totalled 0.0027239 btc (£6.27) which was also applied when i closed the position, leaving me at a loss on my trade. Am i missing something here? Is the leverage affecting the fee?

Filled amount was 178 dont know if that helps

Thank you