Perpetual fee tiers
Hyperliquid recalculates fee tiers daily at 00:00 UTC from rolling 14-day weighted volume. The displayed percentages below are the protocol’s standard perpetual tiers before staking and referral discounts. HIP-3 markets can have additional deployer economics, so confirm the order preview for the exact product.
| 14-day volume | Taker | Maker |
|---|---|---|
| $5M or less | 0.045% | 0.015% |
| >$5M | 0.040% | 0.012% |
| >$25M | 0.035% | 0.008% |
| >$100M | 0.030% | 0.004% |
| >$500M | 0.028% | 0.000% |
| >$2B | 0.026% | 0.000% |
| >$7B | 0.024% | 0.000% |
Spot fee tiers
Spot trading uses the same tier ladder but higher starting rates. Spot volume counts twice toward the shared fee tier. Some aligned quote-asset and quote-to-quote markets can receive different treatment; use the official fee schedule and the live order preview for those cases.
| 14-day volume | Taker | Maker |
|---|---|---|
| $5M or less | 0.070% | 0.040% |
| >$5M | 0.060% | 0.030% |
| >$25M | 0.050% | 0.020% |
| >$100M | 0.040% | 0.010% |
| >$500M | 0.035% | 0.000% |
| >$2B | 0.030% | 0.000% |
| >$7B | 0.025% | 0.000% |
Staking, referral and maker rebates
Staking discounts run from 5% above 10 HYPE to 40% above 500,000 HYPE. The referral discount is 4% of eligible fees for the first $25M of referred volume. The calculator applies the staking reduction to the tier fee. The calculator then shows referral savings as 4% of the remaining eligible fee, which makes each line auditable.
Maker rebates are a separate liquidity-share program, paid continuously to the trading wallet. They are not the same as a zero maker tier and should not be assumed unless your maker share qualifies under the current official table.
| HYPE staked | Trading-fee discount |
|---|---|
| >10 | 5% |
| >100 | 10% |
| >1 000 | 15% |
| >10 000 | 20% |
| >100 000 | 30% |
| >500 000 | 40% |
Calculate costs beyond the fee table
A round trip includes opening and closing fees and slippage on both fills. Total cost can include funding paid while the position is open. Possible bridge, builder or deployer fees can also apply. Funding can be a credit when its sign favors your side. Slippage increases with order size and thin books.
Compare strategies in dollars and basis points against notional. A maker order that misses the market can cost more than a taker order that executes when intended. Execution quality depends on more than the fee rate.
- Model open and close legs separately.
- Use signed funding: positive can be a cost and negative a credit for a long.
- Estimate slippage from the actual market and size.
- Treat bridge and third-party interface fees as separate line items.
HIP-3, aligned quotes and special fee rules
One standard table does not describe every Hyperliquid fill. HIP-3 deployers can configure an additional fee share, while growth mode reduces specified protocol fees, rebates, volume contribution and L1 user-rate-limit contribution by 90%. The exact result depends on the market’s current configuration.
Spot pairs between two quote assets receive lower taker fees and maker-rebate treatment. AQAv1 aligned quote assets can provide lower taker fees, better maker rebates and higher volume contribution. The adjustments are product-specific, so the calculator leaves them as explicit additional inputs instead of treating one base rate as universal.
- Identify whether the market is standard, HIP-3, spot or outcome.
- Check the collateral or quote asset and any aligned status.
- Inspect the deployer or builder fee shown before signing.
- Use the userFees endpoint for account-specific rates.
Outcome-market fees are a separate model
HIP-4 outcomes are fully collateralized contracts, not perpetuals. The HIP-4 documentation currently states that outcome-market fees are zero during initial testing. The fee documentation also defines how fee-paying outcome volume would be counted when fees apply.
Treat zero fees as a dated product state, not a permanent promise. Builder codes can still attach builder fees to qualifying sell orders, and future protocol updates can change the fee schedule.
Frequently asked questions
What are Hyperliquid’s base perpetual maker and taker fees?
For the lowest standard perpetual tier, the published rates are 0.015% maker and 0.045% taker before eligible staking and referral reductions. Special products and account-specific conditions can differ, so the order preview remains decisive.
Does Hyperliquid spot volume count toward the fee tier?
Yes. The official fee schedule says spot volume counts double toward the shared rolling 14-day tier. The fee charged on a spot fill still follows the applicable spot schedule.
Can staking and referral discounts both apply?
They can both affect eligible trading fees. Keep each line separate when calculating the result, and do not apply referral savings to funding, slippage, vault activity or excluded subaccount fees.