Leveraged tokens beginner question

Hello,

I'm just starting to research about leveraged tokens and got some personal questions:

1- When you buy a leveraged token let's say BTCUP for 100 USDT. Do you pay 0.1%/D management fee on that 100 usdt as long as you keep holding it?

2 - What will be the worse case scenario with leveraged tokens If you buy BTCUP but the price of BTC never goes up and keeps going down? You keep paying 0.1%/D management fees until all your amount is taken, so if you buy btcup for 100 usdt you'll loose it after 1000 days if you don't sell?

Thanks.