If sending $120, the amount that will go to fees is $4.68 and the recipient will receive $115.32. That's 3.9% going to fees, effectively.
* Using Domestic fee rate of 3.49% + $.49 (Invoicing, PayPal Checkout, Venmo)
To receive $120, a payment of $124.85 should be sent. $4.85 will go to fees. That's 3.88% in fees, effectively.