Hyperliquid fees: full tier tables and worked examples

How the fee tiers work

Hyperliquid uses one fee tier for everything you trade: perps, HIP-3 markets and spot. Your tier depends on your 14-day weighted volume, which is your perps volume plus twice your spot volume. Tiers are assessed at the end of each day in UTC. Sub-accounts count towards their master account and share its tier, while vaults are treated as separate accounts.

A taker is an order that fills immediately against the book (a market order, or a limit order priced to cross). A maker is a limit order that rests on the book until someone else fills it. Makers always pay less, and at high tiers they pay nothing.

Perpetuals fee tiers

Spot fee tiers

Spot pairs that use an aligned quote asset get 20% lower taker fees, 50% better maker rebates and 20% more volume credit toward fee tiers. Spot pairs between two quote assets get 80% lower fees, rebates and volume credit. HIP-3 markets (perps launched by outside deployers) usually cost more than core perps because the deployer can add its own fee share on top; deployers in growth mode instead cut all-in fees by more than 90%.

HYPE staking discounts

If you stake HYPE (see how to stake HYPE), your trading fees are reduced according to how much is staked:

Staked HYPE is not risk-free: its value moves with the token price and unstaking takes 7 days. Buying HYPE purely to save fees only makes sense if you trade a lot.

Maker rebates

Very active market makers can earn a rebate instead of paying a maker fee. It depends on your share of total maker volume over 14 days:

These thresholds are aimed at professional firms; ordinary traders will not reach them.

Referral discount

Signing up with a referral code gives you 4% off your fees on your first $25M of volume. With our code POLYGOLD that discount applies to you, and Hyper Primer receives a share of the fees you pay (see referral code for full disclosure). The discount does not apply to vaults or sub-accounts.

Worked examples

1. $10,000 BTC market order, tier 0, no discounts: 10,000 × 0.045% = $4.50. Closing it later with another market order costs about the same again, so a round trip is roughly $9.
2. Same trade with the referral discount: $4.50 × (1 − 0.04) = $4.32.
3. Same trade with the referral discount and Gold staking (20%): if the two discounts stack multiplicatively, $4.50 × 0.96 × 0.80 ≈ $3.46. The docs list both discounts but do not spell out exactly how they combine, so treat this as an estimate.
4. $10,000 limit order that rests and fills as maker, tier 0: 10,000 × 0.015% = $1.50.
5. $2,000 spot purchase of HYPE as taker, tier 0: 2,000 × 0.070% = $1.40. That $2,000 also counts as $4,000 of weighted volume towards your tier.
6. Reaching tier 1: $6M of perps plus $2M of spot over 14 days is $6M + 2 × $2M = $10M weighted volume, which is above $5M, so you pay 0.040% taker / 0.012% maker on perps.

Try your own numbers with the Hyperliquid fee calculator.

Other costs to remember

• Funding: perp positions pay or receive funding every hour. On a position held for days this can outweigh trading fees. See funding rates.
• Spread and slippage: market orders in thin markets can fill well away from the mid price. That is a real cost even though it is not called a fee.
• Bridging and withdrawals: moving funds in or out can involve network gas and a small withdrawal fee. Check the current figure in the app before you withdraw (see how to withdraw).

Where the fees go

Hyperliquid says fees go to the community: to the HLP vault, to the Assistance Fund and, for HIP-3 and spot assets, partly to deployers. The Assistance Fund automatically converts fees into HYPE, and the docs state that HYPE held in the Assistance Fund is treated as burned. More on this in HYPE token.

Frequently asked questions