Yes 100% free. As quin said entry cost is $250 play money which you can top up anytime.

Step structure is like so

Step 1 top 3 make it to step 2

Step 2 top 2 make it to step 3 3Rd reentry to step 2

Step 3 1st place gets $1 2nd place reentry to step 3 and 3rd play reentry into step 2.

It isn't easy by any regard but if you have the time and determination along with a little luck it can be an affective way to build a small brankroll to start playing low stakes double up sng's or something similar.