diff --git a/closingd/closingd.c b/closingd/closingd.c
index 6c95ab92679d..106b7caa552d 100644
--- a/closingd/closingd.c
+++ b/closingd/closingd.c
@@ -491,6 +491,84 @@ static void closing_dev_memleak(const tal_t *ctx,
 }
 #endif /* DEVELOPER */
 
+/* Figure out what weight we actually expect for this closing tx (using zero fees
+ * gives the largest possible tx: larger values might omit outputs). */
+static size_t closing_tx_weight_estimate(u8 *scriptpubkey[NUM_SIDES],
+					 const u8 *funding_wscript,
+					 const struct amount_sat *out,
+					 struct amount_sat funding,
+					 struct amount_sat dust_limit)
+{
+	/* We create a dummy close */
+	struct bitcoin_tx *tx;
+	struct bitcoin_txid dummy_txid;
+	struct bitcoin_signature dummy_sig;
+	struct privkey dummy_privkey;
+	struct pubkey dummy_pubkey;
+	u8 **witness;
+
+	memset(&dummy_txid, 0, sizeof(dummy_txid));
+	tx = create_close_tx(tmpctx, chainparams,
+			     scriptpubkey[LOCAL], scriptpubkey[REMOTE],
+			     funding_wscript,
+			     &dummy_txid, 0,
+			     funding,
+			     out[LOCAL],
+			     out[REMOTE],
+			     dust_limit);
+
+	/* Create a signature, any signature, so we can weigh fully "signed"
+	 * tx. */
+	dummy_sig.sighash_type = SIGHASH_ALL;
+	memset(&dummy_privkey, 1, sizeof(dummy_privkey));
+	sign_hash(&dummy_privkey, &dummy_txid.shad, &dummy_sig.s);
+	pubkey_from_privkey(&dummy_privkey, &dummy_pubkey);
+	witness = bitcoin_witness_2of2(NULL, &dummy_sig, &dummy_sig,
+				       &dummy_pubkey, &dummy_pubkey);
+	bitcoin_tx_input_set_witness(tx, 0, take(witness));
+
+	return bitcoin_tx_weight(tx);
+}
+
+/* Get the minimum and desired fees */
+static void calc_fee_bounds(size_t expected_weight,
+			    u32 min_feerate,
+			    u32 desired_feerate,
+			    struct amount_sat maxfee,
+			    struct amount_sat *minfee,
+			    struct amount_sat *desiredfee)
+{
+	*minfee = amount_tx_fee(min_feerate, expected_weight);
+	*desiredfee = amount_tx_fee(desired_feerate, expected_weight);
+
+	/* Can't exceed maxfee. */
+	if (amount_sat_greater(*minfee, maxfee))
+		*minfee = maxfee;
+
+	if (amount_sat_less(*desiredfee, *minfee)) {
+		status_unusual("Our ideal fee is %s (%u sats/perkw),"
+			       " but our minimum is %s: using that",
+			       type_to_string(tmpctx, struct amount_sat, desiredfee),
+			       desired_feerate,
+			       type_to_string(tmpctx, struct amount_sat, minfee));
+		*desiredfee = *minfee;
+	}
+	if (amount_sat_greater(*desiredfee, maxfee)) {
+		status_unusual("Our ideal fee is %s (%u sats/perkw),"
+			       " but our maximum is %s: using that",
+			       type_to_string(tmpctx, struct amount_sat, desiredfee),
+			       desired_feerate,
+			       type_to_string(tmpctx, struct amount_sat, &maxfee));
+		*desiredfee = maxfee;
+	}
+
+	status_debug("Expected closing weight = %zu, fee %s (min %s, max %s)",
+		     expected_weight,
+		     type_to_string(tmpctx, struct amount_sat, desiredfee),
+		     type_to_string(tmpctx, struct amount_sat, minfee),
+		     type_to_string(tmpctx, struct amount_sat, &maxfee));
+}
+
 int main(int argc, char *argv[])
 {
 	setup_locale();
@@ -504,6 +582,7 @@ int main(int argc, char *argv[])
 	struct amount_sat funding, out[NUM_SIDES];
 	struct amount_sat our_dust_limit;
 	struct amount_sat min_fee_to_accept, commitment_fee, offer[NUM_SIDES];
+	u32 min_feerate, initial_feerate;
 	struct feerange feerange;
 	enum side opener;
 	u8 *scriptpubkey[NUM_SIDES], *funding_wscript;
@@ -531,8 +610,8 @@ int main(int argc, char *argv[])
 				    &out[LOCAL],
 				    &out[REMOTE],
 				    &our_dust_limit,
-				    &min_fee_to_accept, &commitment_fee,
-				    &offer[LOCAL],
+				    &min_feerate, &initial_feerate,
+				    &commitment_fee,
 				    &scriptpubkey[LOCAL],
 				    &scriptpubkey[REMOTE],
 				    &fee_negotiation_step,
@@ -544,6 +623,17 @@ int main(int argc, char *argv[])
 	/* stdin == requests, 3 == peer, 4 = gossip, 5 = gossip_store, 6 = hsmd */
 	per_peer_state_set_fds(notleak(pps), 3, 4, 5);
 
+	funding_wscript = bitcoin_redeem_2of2(ctx,
+					      &funding_pubkey[LOCAL],
+					      &funding_pubkey[REMOTE]);
+
+	/* Start at what we consider a reasonable feerate for this tx. */
+	calc_fee_bounds(closing_tx_weight_estimate(scriptpubkey,
+						   funding_wscript,
+						   out, funding, our_dust_limit),
+			min_feerate, initial_feerate, commitment_fee,
+			&min_fee_to_accept, &offer[LOCAL]);
+
 	snprintf(fee_negotiation_step_str, sizeof(fee_negotiation_step_str),
 		 "%" PRIu64 "%s", fee_negotiation_step,
 		 fee_negotiation_step_unit ==
@@ -565,10 +655,6 @@ int main(int argc, char *argv[])
 					      &wrong_funding->txid),
 			       wrong_funding->n);
 
-	funding_wscript = bitcoin_redeem_2of2(ctx,
-					      &funding_pubkey[LOCAL],
-					      &funding_pubkey[REMOTE]);
-
 	peer_billboard(
 	    true,
 	    "Negotiating closing fee between %s and %s satoshi (ideal %s) "
diff --git a/closingd/closingd_wire.csv b/closingd/closingd_wire.csv
index 4558c9a982d2..aa58ea18fa08 100644
--- a/closingd/closingd_wire.csv
+++ b/closingd/closingd_wire.csv
@@ -17,9 +17,9 @@ msgdata,closingd_init,opener,enum side,
 msgdata,closingd_init,local_sat,amount_sat,
 msgdata,closingd_init,remote_sat,amount_sat,
 msgdata,closingd_init,our_dust_limit,amount_sat,
-msgdata,closingd_init,min_fee_satoshi,amount_sat,
+msgdata,closingd_init,min_feerate_perksipa,u32,
+msgdata,closingd_init,preferred_feerate_perksipa,u32,
 msgdata,closingd_init,fee_limit_satoshi,amount_sat,
-msgdata,closingd_init,initial_fee_satoshi,amount_sat,
 msgdata,closingd_init,local_scriptpubkey_len,u16,
 msgdata,closingd_init,local_scriptpubkey,u8,local_scriptpubkey_len
 msgdata,closingd_init,remote_scriptpubkey_len,u16,
diff --git a/closingd/closingd_wiregen.c b/closingd/closingd_wiregen.c
index bb7d9d776d39..9c840a5a0a99 100644
--- a/closingd/closingd_wiregen.c
+++ b/closingd/closingd_wiregen.c
@@ -48,7 +48,7 @@ bool closingd_wire_is_defined(u16 type)
 
 /* WIRE: CLOSINGD_INIT */
 /* Begin!  (passes peer fd */
-u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams, const struct per_peer_state *pps, const struct channel_id *channel_id, const struct bitcoin_txid *funding_txid, u16 funding_txout, struct amount_sat funding_satoshi, const struct pubkey *local_fundingkey, const struct pubkey *remote_fundingkey, enum side opener, struct amount_sat local_sat, struct amount_sat remote_sat, struct amount_sat our_dust_limit, struct amount_sat min_fee_satoshi, struct amount_sat fee_limit_satoshi, struct amount_sat initial_fee_satoshi, const u8 *local_scriptpubkey, const u8 *remote_scriptpubkey, u64 fee_negotiation_step, u8 fee_negotiation_step_unit, bool dev_fast_gossip, const struct bitcoin_outpoint *shutdown_wrong_funding)
+u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams, const struct per_peer_state *pps, const struct channel_id *channel_id, const struct bitcoin_txid *funding_txid, u16 funding_txout, struct amount_sat funding_satoshi, const struct pubkey *local_fundingkey, const struct pubkey *remote_fundingkey, enum side opener, struct amount_sat local_sat, struct amount_sat remote_sat, struct amount_sat our_dust_limit, u32 min_feerate_perksipa, u32 preferred_feerate_perksipa, struct amount_sat fee_limit_satoshi, const u8 *local_scriptpubkey, const u8 *remote_scriptpubkey, u64 fee_negotiation_step, u8 fee_negotiation_step_unit, bool dev_fast_gossip, const struct bitcoin_outpoint *shutdown_wrong_funding)
 {
 	u16 local_scriptpubkey_len = tal_count(local_scriptpubkey);
 	u16 remote_scriptpubkey_len = tal_count(remote_scriptpubkey);
@@ -67,9 +67,9 @@ u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams
 	towire_amount_sat(&p, local_sat);
 	towire_amount_sat(&p, remote_sat);
 	towire_amount_sat(&p, our_dust_limit);
-	towire_amount_sat(&p, min_fee_satoshi);
+	towire_u32(&p, min_feerate_perksipa);
+	towire_u32(&p, preferred_feerate_perksipa);
 	towire_amount_sat(&p, fee_limit_satoshi);
-	towire_amount_sat(&p, initial_fee_satoshi);
 	towire_u16(&p, local_scriptpubkey_len);
 	towire_u8_array(&p, local_scriptpubkey, local_scriptpubkey_len);
 	towire_u16(&p, remote_scriptpubkey_len);
@@ -86,7 +86,7 @@ u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams
 
 	return memcheck(p, tal_count(p));
 }
-bool fromwire_closingd_init(const tal_t *ctx, const void *p, const struct chainparams **chainparams, struct per_peer_state **pps, struct channel_id *channel_id, struct bitcoin_txid *funding_txid, u16 *funding_txout, struct amount_sat *funding_satoshi, struct pubkey *local_fundingkey, struct pubkey *remote_fundingkey, enum side *opener, struct amount_sat *local_sat, struct amount_sat *remote_sat, struct amount_sat *our_dust_limit, struct amount_sat *min_fee_satoshi, struct amount_sat *fee_limit_satoshi, struct amount_sat *initial_fee_satoshi, u8 **local_scriptpubkey, u8 **remote_scriptpubkey, u64 *fee_negotiation_step, u8 *fee_negotiation_step_unit, bool *dev_fast_gossip, struct bitcoin_outpoint **shutdown_wrong_funding)
+bool fromwire_closingd_init(const tal_t *ctx, const void *p, const struct chainparams **chainparams, struct per_peer_state **pps, struct channel_id *channel_id, struct bitcoin_txid *funding_txid, u16 *funding_txout, struct amount_sat *funding_satoshi, struct pubkey *local_fundingkey, struct pubkey *remote_fundingkey, enum side *opener, struct amount_sat *local_sat, struct amount_sat *remote_sat, struct amount_sat *our_dust_limit, u32 *min_feerate_perksipa, u32 *preferred_feerate_perksipa, struct amount_sat *fee_limit_satoshi, u8 **local_scriptpubkey, u8 **remote_scriptpubkey, u64 *fee_negotiation_step, u8 *fee_negotiation_step_unit, bool *dev_fast_gossip, struct bitcoin_outpoint **shutdown_wrong_funding)
 {
 	u16 local_scriptpubkey_len;
 	u16 remote_scriptpubkey_len;
@@ -108,9 +108,9 @@ bool fromwire_closingd_init(const tal_t *ctx, const void *p, const struct chainp
  	*local_sat = fromwire_amount_sat(&cursor, &plen);
  	*remote_sat = fromwire_amount_sat(&cursor, &plen);
  	*our_dust_limit = fromwire_amount_sat(&cursor, &plen);
- 	*min_fee_satoshi = fromwire_amount_sat(&cursor, &plen);
+ 	*min_feerate_perksipa = fromwire_u32(&cursor, &plen);
+ 	*preferred_feerate_perksipa = fromwire_u32(&cursor, &plen);
  	*fee_limit_satoshi = fromwire_amount_sat(&cursor, &plen);
- 	*initial_fee_satoshi = fromwire_amount_sat(&cursor, &plen);
  	local_scriptpubkey_len = fromwire_u16(&cursor, &plen);
  	// 2nd case local_scriptpubkey
 	*local_scriptpubkey = local_scriptpubkey_len ? tal_arr(ctx, u8, local_scriptpubkey_len) : NULL;
@@ -195,4 +195,4 @@ bool fromwire_closingd_complete(const void *p)
 		return false;
 	return cursor != NULL;
 }
-// SHA256STAMP:cbcaa37f43a9705e657ef6905e276ac4b703171a3f9dcd6f6ca352e3d753a6f2
+// SHA256STAMP:a8b0af1ae87e71bc448585060b8d449c3e5f0d0f4f3ac195dcd4d84f8176ae17
diff --git a/closingd/closingd_wiregen.h b/closingd/closingd_wiregen.h
index d39505198708..b948b737fc3c 100644
--- a/closingd/closingd_wiregen.h
+++ b/closingd/closingd_wiregen.h
@@ -37,8 +37,8 @@ bool closingd_wire_is_defined(u16 type);
 
 /* WIRE: CLOSINGD_INIT */
 /*  Begin!  (passes peer fd */
-u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams, const struct per_peer_state *pps, const struct channel_id *channel_id, const struct bitcoin_txid *funding_txid, u16 funding_txout, struct amount_sat funding_satoshi, const struct pubkey *local_fundingkey, const struct pubkey *remote_fundingkey, enum side opener, struct amount_sat local_sat, struct amount_sat remote_sat, struct amount_sat our_dust_limit, struct amount_sat min_fee_satoshi, struct amount_sat fee_limit_satoshi, struct amount_sat initial_fee_satoshi, const u8 *local_scriptpubkey, const u8 *remote_scriptpubkey, u64 fee_negotiation_step, u8 fee_negotiation_step_unit, bool dev_fast_gossip, const struct bitcoin_outpoint *shutdown_wrong_funding);
-bool fromwire_closingd_init(const tal_t *ctx, const void *p, const struct chainparams **chainparams, struct per_peer_state **pps, struct channel_id *channel_id, struct bitcoin_txid *funding_txid, u16 *funding_txout, struct amount_sat *funding_satoshi, struct pubkey *local_fundingkey, struct pubkey *remote_fundingkey, enum side *opener, struct amount_sat *local_sat, struct amount_sat *remote_sat, struct amount_sat *our_dust_limit, struct amount_sat *min_fee_satoshi, struct amount_sat *fee_limit_satoshi, struct amount_sat *initial_fee_satoshi, u8 **local_scriptpubkey, u8 **remote_scriptpubkey, u64 *fee_negotiation_step, u8 *fee_negotiation_step_unit, bool *dev_fast_gossip, struct bitcoin_outpoint **shutdown_wrong_funding);
+u8 *towire_closingd_init(const tal_t *ctx, const struct chainparams *chainparams, const struct per_peer_state *pps, const struct channel_id *channel_id, const struct bitcoin_txid *funding_txid, u16 funding_txout, struct amount_sat funding_satoshi, const struct pubkey *local_fundingkey, const struct pubkey *remote_fundingkey, enum side opener, struct amount_sat local_sat, struct amount_sat remote_sat, struct amount_sat our_dust_limit, u32 min_feerate_perksipa, u32 preferred_feerate_perksipa, struct amount_sat fee_limit_satoshi, const u8 *local_scriptpubkey, const u8 *remote_scriptpubkey, u64 fee_negotiation_step, u8 fee_negotiation_step_unit, bool dev_fast_gossip, const struct bitcoin_outpoint *shutdown_wrong_funding);
+bool fromwire_closingd_init(const tal_t *ctx, const void *p, const struct chainparams **chainparams, struct per_peer_state **pps, struct channel_id *channel_id, struct bitcoin_txid *funding_txid, u16 *funding_txout, struct amount_sat *funding_satoshi, struct pubkey *local_fundingkey, struct pubkey *remote_fundingkey, enum side *opener, struct amount_sat *local_sat, struct amount_sat *remote_sat, struct amount_sat *our_dust_limit, u32 *min_feerate_perksipa, u32 *preferred_feerate_perksipa, struct amount_sat *fee_limit_satoshi, u8 **local_scriptpubkey, u8 **remote_scriptpubkey, u64 *fee_negotiation_step, u8 *fee_negotiation_step_unit, bool *dev_fast_gossip, struct bitcoin_outpoint **shutdown_wrong_funding);
 
 /* WIRE: CLOSINGD_RECEIVED_SIGNATURE */
 /*  We received an offer */
@@ -56,4 +56,4 @@ bool fromwire_closingd_complete(const void *p);
 
 
 #endif /* LIGHTNING_CLOSINGD_CLOSINGD_WIREGEN_H */
-// SHA256STAMP:cbcaa37f43a9705e657ef6905e276ac4b703171a3f9dcd6f6ca352e3d753a6f2
+// SHA256STAMP:a8b0af1ae87e71bc448585060b8d449c3e5f0d0f4f3ac195dcd4d84f8176ae17
diff --git a/common/peer_billboard.c b/common/peer_billboard.c
index 183b9191c721..7ed816eb284d 100644
--- a/common/peer_billboard.c
+++ b/common/peer_billboard.c
@@ -12,6 +12,7 @@ void peer_billboard(bool perm, const char *fmt, ...)
 	str = tal_vfmt(NULL, fmt, ap);
 	va_end(ap);
 
+	status_debug("billboard%s: %s", perm ? " perm" : "", str);
 	status_send(take(towire_status_peer_billboard(NULL, perm, str)));
 	tal_free(str);
 }
diff --git a/lightningd/closing_control.c b/lightningd/closing_control.c
index d2070875715f..42d9909bf6aa 100644
--- a/lightningd/closing_control.c
+++ b/lightningd/closing_control.c
@@ -79,7 +79,7 @@ static bool closing_fee_is_acceptable(struct lightningd *ld,
 	if (amount_sat_less(fee, min_fee)) {
 		log_debug(channel->log, "... That's below our min %s"
 			  " for weight %"PRIu64" at feerate %u",
-			  type_to_string(tmpctx, struct amount_sat, &fee),
+			  type_to_string(tmpctx, struct amount_sat, &min_fee),
 			  weight, min_feerate);
 		return false;
 	}
@@ -197,8 +197,8 @@ void peer_start_closingd(struct channel *channel,
 {
 	u8 *initmsg;
 	u32 feerate;
-	struct amount_sat minfee, startfee, feelimit;
 	struct amount_msat their_msat;
+	struct amount_sat feelimit;
 	int hsmfd;
 	struct lightningd *ld = channel->peer->ld;
 	u32 final_commit_feerate;
@@ -247,10 +247,6 @@ void peer_start_closingd(struct channel *channel,
 	feelimit = commit_tx_base_fee(final_commit_feerate, 0,
 				      channel->option_anchor_outputs);
 
-	/* Pick some value above slow feerate (or min possible if unknown) */
-	minfee = commit_tx_base_fee(feerate_min(ld, NULL), 0,
-				    channel->option_anchor_outputs);
-
 	/* If we can't determine feerate, start at half unilateral feerate. */
 	feerate = mutual_close_feerate(ld->topology);
 	if (!feerate) {
@@ -258,13 +254,6 @@ void peer_start_closingd(struct channel *channel,
 		if (feerate < feerate_floor())
 			feerate = feerate_floor();
 	}
-	startfee = commit_tx_base_fee(feerate, 0,
-				      channel->option_anchor_outputs);
-
-	if (amount_sat_greater(startfee, feelimit))
-		startfee = feelimit;
-	if (amount_sat_greater(minfee, feelimit))
-		minfee = feelimit;
 
 	/* BOLT #3:
 	 *
@@ -298,7 +287,7 @@ void peer_start_closingd(struct channel *channel,
 				       amount_msat_to_sat_round_down(channel->our_msat),
 				       amount_msat_to_sat_round_down(their_msat),
 				       channel->our_config.dust_limit,
-				       minfee, feelimit, startfee,
+				       feerate_min(ld, NULL), feerate, feelimit,
 				       channel->shutdown_scriptpubkey[LOCAL],
 				       channel->shutdown_scriptpubkey[REMOTE],
 				       channel->closing_fee_negotiation_step,
diff --git a/lightningd/invoice.c b/lightningd/invoice.c
index 4101853b030c..eb73a821410c 100644
--- a/lightningd/invoice.c
+++ b/lightningd/invoice.c
@@ -443,7 +443,7 @@ invoice_check_payment(const tal_t *ctx,
 			log_debug(ld->log, "Attept to pay %s with amount %s > %s",
 				  type_to_string(tmpctx, struct sha256,
 						 &details->rhash),
-				  type_to_string(tmpctx, struct amount_msat, details->msat),
+				  type_to_string(tmpctx, struct amount_msat, &msat),
 				  type_to_string(tmpctx, struct amount_msat, &twice));
 			/* BOLT #4:
 			 *
diff --git a/tests/test_closing.py b/tests/test_closing.py
index 127511a3ed87..0bb6c170bc41 100644
--- a/tests/test_closing.py
+++ b/tests/test_closing.py
@@ -5,7 +5,7 @@
 from pyln.testing.utils import SLOW_MACHINE
 from utils import (
     only_one, sync_blockheight, wait_for, TIMEOUT,
-    account_balance, first_channel_id, basic_fee, TEST_NETWORK,
+    account_balance, first_channel_id, closing_fee, TEST_NETWORK,
     scriptpubkey_addr
 )
 
@@ -22,7 +22,7 @@
 def test_closing(node_factory, bitcoind, chainparams):
     l1, l2 = node_factory.line_graph(2)
     chan = l1.get_channel_scid(l2)
-    fee = basic_fee(3750) if not chainparams['elements'] else 4477
+    fee = closing_fee(3750, 2) if not chainparams['elements'] else 3603
 
     l1.pay(l2, 200000000)
 
@@ -236,8 +236,8 @@ def test_closing_different_fees(node_factory, bitcoind, executor):
     # Default feerate = 15000/11000/7500/1000
     # It will start at the second number, accepting anything above the first.
     feerates = [[20000, 11000, 15000, 7400], [8000, 6000, 1001, 100]]
-    amounts = [0, 545999, 546000]
-    num_peers = len(feerates) * len(amounts)
+    balance = [False, True]
+    num_peers = len(feerates) * len(balance)
 
     addr = l1.rpc.newaddr()['bech32']
     bitcoind.rpc.sendtoaddress(addr, 1)
@@ -248,10 +248,10 @@ def test_closing_different_fees(node_factory, bitcoind, executor):
     # Create them in a batch, for speed!
     peers = []
     for feerate in feerates:
-        for amount in amounts:
+        for b in balance:
             p = node_factory.get_node(feerates=feerate)
             p.feerate = feerate
-            p.amount = amount
+            p.balance = balance
             l1.rpc.connect(p.info['id'], 'localhost', p.port)
             peers.append(p)
 
@@ -266,7 +266,7 @@ def test_closing_different_fees(node_factory, bitcoind, executor):
     l1.daemon.wait_for_logs(['update for channel .* now ACTIVE'] * num_peers
                             + ['to CHANNELD_NORMAL'] * num_peers)
     for p in peers:
-        if p.amount != 0:
+        if p.balance:
             l1.pay(p, 100000000)
 
     # Now close all channels (not unilaterally!)
@@ -377,7 +377,7 @@ def feerate_for(target, minimum=0, maximum=10000000):
         """Binary search to find feerate"""
         assert minimum != maximum
         mid = (minimum + maximum) // 2
-        mid_fee = basic_fee(mid)
+        mid_fee = closing_fee(mid, 1)
         if mid_fee > target:
             return feerate_for(target, minimum, mid)
         elif mid_fee < target:
@@ -452,11 +452,11 @@ def test_closing_negotiation_step_30pct(node_factory, bitcoind, chainparams):
     opts['fee_negotiation_step'] = '30%'
 
     opts['close_initiated_by'] = 'opener'
-    opts['expected_close_fee'] = 20537 if not chainparams['elements'] else 33870
+    opts['expected_close_fee'] = 20537 if not chainparams['elements'] else 26046
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
     opts['close_initiated_by'] = 'peer'
-    opts['expected_close_fee'] = 20233 if not chainparams['elements'] else 33366
+    opts['expected_close_fee'] = 20233 if not chainparams['elements'] else 25657
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
 
@@ -466,11 +466,11 @@ def test_closing_negotiation_step_50pct(node_factory, bitcoind, chainparams):
     opts['fee_negotiation_step'] = '50%'
 
     opts['close_initiated_by'] = 'opener'
-    opts['expected_close_fee'] = 20334 if not chainparams['elements'] else 33533
+    opts['expected_close_fee'] = 20334 if not chainparams['elements'] else 25789
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
     opts['close_initiated_by'] = 'peer'
-    opts['expected_close_fee'] = 20334 if not chainparams['elements'] else 33533
+    opts['expected_close_fee'] = 20334 if not chainparams['elements'] else 25789
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
 
@@ -480,7 +480,7 @@ def test_closing_negotiation_step_100pct(node_factory, bitcoind, chainparams):
     opts['fee_negotiation_step'] = '100%'
 
     opts['close_initiated_by'] = 'opener'
-    opts['expected_close_fee'] = 20001 if not chainparams['elements'] else 32985
+    opts['expected_close_fee'] = 20001 if not chainparams['elements'] else 25366
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
     # The close fee of 20499 looks strange in this case - one would expect
@@ -489,7 +489,7 @@ def test_closing_negotiation_step_100pct(node_factory, bitcoind, chainparams):
     # * the opener is always first to propose, he uses 50% step, so he proposes 20500
     # * the range is narrowed to [20001, 20499] and the peer proposes 20499
     opts['close_initiated_by'] = 'peer'
-    opts['expected_close_fee'] = 20499 if not chainparams['elements'] else 33808
+    opts['expected_close_fee'] = 20499 if not chainparams['elements'] else 25998
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
 
@@ -499,11 +499,11 @@ def test_closing_negotiation_step_1sat(node_factory, bitcoind, chainparams):
     opts['fee_negotiation_step'] = '1'
 
     opts['close_initiated_by'] = 'opener'
-    opts['expected_close_fee'] = 20989 if not chainparams['elements'] else 34621
+    opts['expected_close_fee'] = 20989 if not chainparams['elements'] else 26624
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
     opts['close_initiated_by'] = 'peer'
-    opts['expected_close_fee'] = 20010 if not chainparams['elements'] else 32995
+    opts['expected_close_fee'] = 20010 if not chainparams['elements'] else 25373
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
 
@@ -513,11 +513,11 @@ def test_closing_negotiation_step_700sat(node_factory, bitcoind, chainparams):
     opts['fee_negotiation_step'] = '700'
 
     opts['close_initiated_by'] = 'opener'
-    opts['expected_close_fee'] = 20151 if not chainparams['elements'] else 33459
+    opts['expected_close_fee'] = 20151 if not chainparams['elements'] else 25650
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
     opts['close_initiated_by'] = 'peer'
-    opts['expected_close_fee'] = 20499 if not chainparams['elements'] else 33746
+    opts['expected_close_fee'] = 20499 if not chainparams['elements'] else 25998
     closing_negotiation_step(node_factory, bitcoind, chainparams, opts)
 
 
diff --git a/tests/test_plugin.py b/tests/test_plugin.py
index 01f4760cd353..457334d9a1a1 100644
--- a/tests/test_plugin.py
+++ b/tests/test_plugin.py
@@ -1884,8 +1884,8 @@ def test_coin_movement_notices(node_factory, bitcoind, chainparams):
             {'type': 'chain_mvt', 'credit': 1000000000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'channel_mvt', 'credit': 0, 'debit': 100000000, 'tag': 'routed'},
             {'type': 'channel_mvt', 'credit': 50000501, 'debit': 0, 'tag': 'routed'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 4477501, 'tag': 'chain_fees'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 945523000, 'tag': 'withdrawal'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 4271501, 'tag': 'chain_fees'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 945729000, 'tag': 'withdrawal'},
         ]
 
         l2_wallet_mvts = [
@@ -1898,7 +1898,7 @@ def test_coin_movement_notices(node_factory, bitcoind, chainparams):
             {'type': 'chain_mvt', 'credit': 0, 'debit': 8092000, 'tag': 'chain_fees'},
             {'type': 'chain_mvt', 'credit': 991908000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'chain_mvt', 'credit': 100001000, 'debit': 0, 'tag': 'deposit'},
-            {'type': 'chain_mvt', 'credit': 945523000, 'debit': 0, 'tag': 'deposit'},
+            {'type': 'chain_mvt', 'credit': 945729000, 'debit': 0, 'tag': 'deposit'},
         ]
     elif EXPERIMENTAL_FEATURES:
         # option_anchor_outputs
@@ -1906,8 +1906,8 @@ def test_coin_movement_notices(node_factory, bitcoind, chainparams):
             {'type': 'chain_mvt', 'credit': 1000000000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'channel_mvt', 'credit': 0, 'debit': 100000000, 'tag': 'routed'},
             {'type': 'channel_mvt', 'credit': 50000501, 'debit': 0, 'tag': 'routed'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 4215501, 'tag': 'chain_fees'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 945785000, 'tag': 'withdrawal'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 2520501, 'tag': 'chain_fees'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 947480000, 'tag': 'withdrawal'},
         ]
 
         l2_wallet_mvts = [
@@ -1921,15 +1921,15 @@ def test_coin_movement_notices(node_factory, bitcoind, chainparams):
             {'type': 'chain_mvt', 'credit': 0, 'debit': 4567000, 'tag': 'chain_fees'},
             {'type': 'chain_mvt', 'credit': 995433000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'chain_mvt', 'credit': 100001000, 'debit': 0, 'tag': 'deposit'},
-            {'type': 'chain_mvt', 'credit': 945785000, 'debit': 0, 'tag': 'deposit'},
+            {'type': 'chain_mvt', 'credit': 947480000, 'debit': 0, 'tag': 'deposit'},
         ]
     else:
         l2_l3_mvts = [
             {'type': 'chain_mvt', 'credit': 1000000000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'channel_mvt', 'credit': 0, 'debit': 100000000, 'tag': 'routed'},
             {'type': 'channel_mvt', 'credit': 50000501, 'debit': 0, 'tag': 'routed'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 2715501, 'tag': 'chain_fees'},
-            {'type': 'chain_mvt', 'credit': 0, 'debit': 947285000, 'tag': 'withdrawal'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 2520501, 'tag': 'chain_fees'},
+            {'type': 'chain_mvt', 'credit': 0, 'debit': 947480000, 'tag': 'withdrawal'},
         ]
 
         l2_wallet_mvts = [
@@ -1943,7 +1943,7 @@ def test_coin_movement_notices(node_factory, bitcoind, chainparams):
             {'type': 'chain_mvt', 'credit': 0, 'debit': 4567000, 'tag': 'chain_fees'},
             {'type': 'chain_mvt', 'credit': 995433000, 'debit': 0, 'tag': 'deposit'},
             {'type': 'chain_mvt', 'credit': 100001000, 'debit': 0, 'tag': 'deposit'},
-            {'type': 'chain_mvt', 'credit': 947285000, 'debit': 0, 'tag': 'deposit'},
+            {'type': 'chain_mvt', 'credit': 947480000, 'debit': 0, 'tag': 'deposit'},
         ]
 
     l1, l2, l3 = node_factory.line_graph(3, opts=[
diff --git a/tests/utils.py b/tests/utils.py
index de1a7060cf95..6f1d7842b86a 100644
--- a/tests/utils.py
+++ b/tests/utils.py
@@ -151,6 +151,12 @@ def basic_fee(feerate):
     return (weight * feerate) // 1000
 
 
+def closing_fee(feerate, num_outputs):
+    assert num_outputs == 1 or num_outputs == 2
+    weight = 424 + 124 * num_outputs
+    return (weight * feerate) // 1000
+
+
 def scriptpubkey_addr(scriptpubkey):
     if 'addresses' in scriptpubkey:
         return scriptpubkey['addresses'][0]