Hyperliquid fees explained

Contents

All rates in this guide come from Hyperliquid's official documentation and announcements as of 2 November 2026. For what Hyperliquid is and how its two halves fit together, start with what Hyperliquid is and how it works.

How are Hyperliquid trading fees calculated?#

Hyperliquid sets your fee tier from your rolling 14-day volume and reassesses it at the end of each UTC day, according to Hyperliquid's fees documentation. Four rules decide which tier you land in:

• One tier for everything. Each account has one fee tier across validator-operated perps, HIP-3 perps and spot.
• Spot counts double. The formula is 14d weighted volume = 14d perps volume + 2 × 14d spot volume.
• Sub-accounts share the master's tier. Sub-account volume counts toward the master account. Vault volume is counted separately.
• Makers can earn rebates. Rebates are paid continuously on each trade, straight to the trading wallet.

A taker is an order that fills immediately against the book. A maker is an order that rests on the book until someone else fills it. Maker fees are lower on every tier because makers supply the liquidity takers use.

A worked example of the weighting: a trader with $3M of perps volume and $1.5M of spot volume over 14 days has a weighted volume of $3M + 2 × $1.5M = $6M. That clears the $5M threshold for tier 1, so that trader's perps taker fee drops from 0.045% to 0.040%.

Hyperliquid perps fees#

These are the base perps rates on Hyperliquid's fees page, before any staking discount, as of 2 November 2026.

Most retail traders sit on tier 0 for good. Reaching tier 1 takes more than $5M of weighted volume every 14 days.

Hyperliquid spot fees#

Spot trading on HyperCore uses a separate, higher schedule. These are the base spot rates on the same fees page, as of 2 November 2026.

Two spot discounts apply on top of the table. Spot pairs between two quote assets, such as a stablecoin against another stablecoin, have 80% lower taker fees, maker rebates and volume contribution. Pairs quoted in an aligned quote asset get 20% lower taker fees, 50% better maker rebates and 20% more volume credit under the aligned quote asset rules (AQAv1). The newer AQAv2 designation on the same page carries no trading fee benefit.

How do I lower my Hyperliquid fees?#

Hyperliquid has four documented ways to pay less: stake HYPE, trade more volume, use a referral code, and post maker orders.

Staking discounts#

Staking HYPE gives a discount on all trading fees. The tiers below are from Hyperliquid's fees page as of 2 November 2026.

The discount needs staked HYPE, not HYPE sitting in a spot balance. You can stake from one address and trade from another by linking them, but the fees page warns that linking is permanent, that the staking address loses its own discount, and that the staking address can lock the trading address and take its funds after a year. Only link two addresses you control. The mechanics of staking, lockups and validators are in our HYPE token and staking guide.

Referral discount#

A referral code gives a 4% fee discount for your first $25M of volume, per Hyperliquid's referrals page. The referrer earns 10% of the referred user's fees, less the discount, for that user's first $1B of volume. The referral discount does not apply to vaults or sub-accounts.

Maker rebates#

High-volume makers on Hyperliquid can earn a rebate instead of paying a fee. The rebate tier depends on your share of total 14-day weighted maker volume.

A negative maker fee means Hyperliquid pays the maker. Outcome markets (HIP-4) pay no rebates: a trader who would earn a rebate on perps or spot pays zero on outcome maker orders instead.

Worked example: a $10,000 perps trade on Hyperliquid vs Binance#

Take a $10,000 BTC perpetual position, opened and closed with market orders (taker both ways), on a new account with no referral code.

The same trade with resting limit orders (maker both ways) costs $3.00 on Hyperliquid tier 0 at 0.015%, against $4.00 on Binance at its 0.0200% regular maker rate.

The Binance rates are the regular-user row on Binance's USDⓈ-M futures fee page as of 2 November 2026. That page also lists a promotion with 0% maker and 0.0400% taker on USDC-margined perps, and Binance gives 10% off for paying fees in BNB. On spot, Binance's regular rate is 0.100% maker and 0.100% taker on its spot fee schedule, against Hyperliquid's 0.070% taker and 0.040% maker.

Fees are only part of the cost. Spread, slippage and funding payments usually matter more on a single trade, and a centralized exchange holds your funds while Hyperliquid settles on its own chain.

What are HIP-3 fees on Hyperliquid?#

HIP-3 markets are perpetual futures deployed by outside teams, such as equity, index and commodity perps. Each HIP-3 deployer sets a fee scale that adds a deployer fee on top of the protocol fee. The HIP-3 deployer actions reference gives the split, and the developer formula on the fees page converts it to a multiplier on your normal rate:

• A scale below 1 multiplies your fee by 1 + scale. The protocol keeps your normal fee and the deployer gets the extra.
• A scale of 1 or more multiplies your fee by 2 × scale. Above 1, the protocol fee rises to match the deployer fee, so both halves are equal.
• Growth mode cuts the protocol fee, rebates and volume credit by 90%, and multiplies your fee by 0.1 before the deployer's scale. In growth mode the scale can run from 0 to just below 10, against 0 to 3 normally. Only markets that do not overlap validator-operated perps qualify (no crypto, crypto baskets or gold), and a deployer can change it once per 30 days per asset.

Here is what one $10,000 taker fill costs on a HIP-3 perp for a tier 0 trader with no staking, computed from those rules.

The growth-mode rows at scales 0 and 1 match the fees page, which puts the baseline all-in taker rate under growth mode at 0.0045% to 0.009% and calls it a cut of at least 90%. That holds against the same fee scale outside growth mode. Against the 0.045% base rate it holds only at low scales: the deployer actions reference allows any growth-mode scale below 10, and at 9.99 the fee is about twice the base rate. Your staking discount and referral discount still apply on top. Check the deployer's fee scale before you trade a HIP-3 market, because the same order can cost six times the base rate. Our guide to HIP-3 builder-deployed perpetuals covers how those markets work.

What are HIP-4 outcome market fees?#

Hyperliquid charges fees on outcome markets (HIP-4), its prediction markets, only when a position is closed or settled. Opening a position pays no Hyperliquid fee, though an app's builder fee may apply. Hyperliquid's 14 August 2026 app announcement gives the example: a tier 0 taker pays nothing to open an outcome position and 0.07% to close it. The same announcement says the average outcome trading fee is half that of non-outcome spot, which is consistent with charging the spot taker rate on one side of the round trip only.

Three more rules apply to outcome fees on Hyperliquid:

• Volume counts only when someone pays. Minting, where two new positions are created, pays no fee and adds no volume. At settlement each holder is credited settle_fraction × size of volume.
• No maker rebates. Outcome markets never pay rebates.
• Deployers can add a fee. Each permissionless HIP-4 market carries a deployerFeeScale from 0 to 10. Per the HIP-4 deployer actions reference, you pay the base outcome rate times scale + max(scale, 1). Scale 0 means 1× the base rate, scale 1 means 2×, and scale 10 means 20×.

Why the HIP-4 page still says fees are zero#

The HIP-4 overview page still reads "Fees are currently zero for outcome markets for initial testing" when fetched on 2 November 2026. That sentence predates the fee switch. Hyperliquid's 14 August 2026 announcement on its Telegram channel said validator-deployed outcome markets would have fees enabled at the next network upgrade, and the app announcement of the same day linked the fees page. Treat outcome trading as fee-paying.

The fees page prints no separate outcome table, and the announcement gives only the tier 0 taker example. Hyperliquid does not publish the settlement rate or the outcome maker rate as separate numbers. The Totalis app models the closing fee as your spot rate (taker, or maker floored at zero) less any referral discount, times a global outcome fee scale, times scale + max(scale, 1) for the market's deployer scale. A sale pays the taker or maker version of that rate depending on how it fills, settlement and burning a Yes and No pair pay the taker version, and buying pays none of it. Your rate therefore depends on your account and the market, not one flat number.

Worked example: a HIP-4 trade through an app#

A trader buys 100 Yes shares at $0.40 in a validator-deployed outcome market, so the position costs $40. Later the trader sells them at $0.60 as a taker, for $60. The example assumes an undiscounted tier 0 spot taker rate, a global outcome scale of 1, a deployer scale of 0, and orders that carry an already approved Totalis builder fee.

On a permissionless market with deployerFeeScale 1, the Hyperliquid close fee doubles to 0.14%, or $0.084 here. The builder column applies only when the order goes through an app that charges one, as the next section explains. Our HIP-4 outcome markets guide covers the Yes and No tokens, the merged order book and settlement.

Builder fees: what apps add on top#

Many people trade Hyperliquid through another app: a wallet, a mobile app or a trading terminal. Those apps can charge a builder fee on each fill, on top of Hyperliquid's fee. The builder codes documentation sets the rules:

• You must first approve a maximum builder fee for that app with the ApproveBuilderFee action, signed by your main wallet. An API or agent wallet cannot sign it.
• The cap is 0.1% on perps and 1% on spot. You can revoke an approval at any time, and you can hold at most 10 active approvals.
• On spot, builder fees apply only to the side paid in the quote asset, so a spot buy pays no builder fee. On outcome markets, the HIP-4 deployer reference says builder codes also apply to buy orders.

A builder fee can be larger than the protocol fee. An app charging the full 0.1% on a $10,000 perps trade adds $10 per side, more than the $4.50 Hyperliquid itself charges a tier 0 taker. Check the approval prompt before you sign it. Our guide to Hyperliquid builder codes explains how apps earn from them.

The HIP-4 worked example above uses Totalis, which publishes this guide, as the app: per its public limits and fees page, it charges a 0.1% builder fee on single-market orders placed in the Totalis app, with exceptions such as a new account's first buy. Orders you send to Hyperliquid yourself pay only Hyperliquid's fee. Apps can also price multi-outcome positions outside Hyperliquid's fee system. A Totalis Combo, one position on 2 to 5 outcomes quoted by market makers through an RFQ, pays no builder fee but a 1.5% entry fee on the stake and a 1% profit fee on proceeds above the net stake. In the same page's example, a 10 USDC Combo with a 25 USDC payout pays 0.15 USDC to enter and, if it wins in full, a 0.1515 USDC profit fee, so the trader receives 24.8485 USDC.

Gas, activation and priority fees#

Trading on HyperCore needs no gas token: orders, cancels and transfers inside HyperCore are signed actions, not paid transactions. A few other costs do apply.

Activation gas fee#

A new HyperCore account costs 1 quote token, typically 1 USDC, once. The activation gas fee page charges it on the first transaction that sends anything to the account, whatever the asset. A USDC deposit through Circle's CoreDepositWallet works differently: Circle's CCTP on HyperCore page says it credits the full deposit, sets 1 USDC aside, and charges it on the account's first outbound action. An account that has not been activated cannot send CoreWriter actions from a HyperEVM contract.

HyperEVM gas#

The HyperEVM is the smart-contract half of Hyperliquid, and it charges gas in HYPE. It uses EIP-1559, and unlike most EVM chains it burns both the base fee and the priority fee, per the HyperEVM developer page. Moving tokens between HyperCore and HyperEVM also costs gas. Our HyperCore vs HyperEVM guide explains the two environments.

Priority fees#

Priority fees are optional and aimed at market makers. Hyperliquid's priority fees page describes two kinds, both burned:

• Gossip priority is a Dutch auction for faster read access to block data, with a minimum price of 0.1 HYPE per slot.
• Order priority lets IOC and post-only orders pay a rate on notional, taken from undelegated staked HYPE, to move ahead in the queue. It does not apply to outcome markets.

Ordinary traders never need either.

Deposit and withdrawal fees on Hyperliquid#

Hyperliquid's own deposit and withdrawal costs are small and flat. Bridges and networks add their own.

Every route, minimum and common failure is in our guide to depositing and withdrawing on Hyperliquid.

Other one-off protocol costs#

Creating a vault on HyperCore costs a 10,000 USDC gas fee, distributed like trading fees, per the vault leaders page. Deploying a spot token or a HIP-3 market involves a gas auction, and HIP-3 also needs a 500,000 HYPE stake. Deploying HIP-4 outcome markets has no gas cost: it needs a 500,000 HYPE deployer stake, and per-deployer capacity limits bound how many markets you run, per the HIP-4 deployer actions reference cited above. These are covered in the vaults and HLP guide and the HIP-3 and HIP-4 guides.

Where do Hyperliquid fees go?#

Hyperliquid's fees page says trading fees go to the community: HLP (the protocol vault), the Assistance Fund and deployers. Spot and HIP-3 deployers may keep up to 50% of the fees their assets generate. The Assistance Fund uses the system address 0xfefefefefefefefefefefefefefefefefefefefe. It converts fees to HYPE automatically as part of block execution, and HYPE in the fund is burned, removing it from circulating and total supply. Hyperliquid does not publish a fixed percentage split between HLP and the Assistance Fund on that page, and figures quoted on social media vary, so this guide leaves them out.

Frequently asked questions#

Are Hyperliquid fees lower than Binance?#

At the entry level, yes on the published rates: 0.045% against 0.0500% taker on perps, and 0.070% against 0.100% on spot. Binance runs promotions and BNB discounts that can narrow or reverse the gap, and an app's builder fee on Hyperliquid can add up to 0.1% on perps.