Hyperliquid referral earnings calculator
Hyperliquid pays referrers 10% of referred users' fees, less any fee discount those users receive, on each user's first $1B of volume. The calculator shows a range because the docs don't spell out how the discount is netted. You need $10,000 of volume to create a code.
How the estimate works
Fee per referral = volume × (taker share × taker rate + maker share × maker rate). While a referral is within their first $25M of volume, they get 4% off. The docs say you earn "10% of referred users' fees, less any fee discount they receive": the low estimate assumes the discount is taken out of your 10% (about 6% of base fees), the high estimate assumes you get 10% of the discounted fee (9.6%). After $25M you earn the full 10%. Staking discounts reduce your referrals' fees and therefore your income. Rewards accrue in the quote asset and can be claimed once above $1. Full terms: Hyperliquid referral code.
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