Hyperliquid Fees Explained: 0.015% Maker / 0.045% Taker, VIP Tiers, Staking Discounts and Worked Examples (2026)

You keep more of every trade on Hyperliquid: 0.045% taker and 0.015% maker on perpetual futures at the base tier, 0.07% / 0.04% on spot, and no gas on any trade. Your fees fall automatically with 14-day trading volume, drop further when you stake HYPE (5% to 40% off) or sign up through a referral (4% off), and reach 0% for makers above $500 million in fortnightly volume. Our guide lays out every Hyperliquid fee tier, the spot, HIP-3 and HIP-4 fee rules, deposit and withdrawal costs, worked examples at $10k, $100k and $1M of volume, and the practical ways to pay less.

Key takeaways

• You pay less than on Binance from day one: base perp fees are 0.045% taker / 0.015% maker and spot is 0.07% / 0.04%, with no gas and no funding fee to the protocol.
• You climb the ladder faster by trading spot: volume tiers are computed on rolling 14-day volume and spot volume counts double toward your tier.
• You can reach a zero maker fee at $500M 14-day volume; the top tier ($7B+) pays 0.024% taker.
• You can stack every discount: volume tier x staking tier (5–40%) x referral (4%), multiplied together.
• Watch for add-ons: HIP-3 markets add a deployer fee of up to 50% on top of the base rate, and builder-code apps may add a few basis points.
• Your fees are not lost to a treasury: almost all perp fees buy back HYPE via the Assistance Fund, so they flow back to token holders.

Hyperliquid fees at a glance

You can see exactly what each trade cost you: fees are charged in USDC at settlement and appear on each fill in your trade history. USDC is also the only collateral perps accept; our Hyperliquid USDC guide explains where USDT and other stablecoins fit in. The official schedule lives in the Hyperliquid docs.

Hyperliquid trading fees vs gas fees: what maker, taker and futures fees really mean

Separating the three costs people lump together as "hyperliquid trading fees", "hyperliquid futures fees" or simply "hyperliquid fee" shows you that only one of them actually hits your account:

• Maker and taker fees are the only per-trade fees Hyperliquid charges. A taker order removes liquidity (a market order, or a limit order that crosses the spread) and pays 0.045% of notional at the base tier. A maker order rests on the book and pays 0.015%. The split rewards traders who add depth: on a $10,000 perp order the difference is $4.50 versus $1.50. Hyperliquid maker taker fees apply identically to BTC, ETH, altcoin perps and HIP-3 markets, with the deployer surcharge added on the latter.
• Futures fees on Hyperliquid are simply the perpetual-futures fees above. There are no dated contracts, so there is no expiry, roll or settlement fee to budget for, unlike quarterly futures on a CEX.
• Gas fees are effectively zero for trading. HyperCore processes orders, cancels, transfers and staking as signed messages, so a cancel-heavy market maker pays nothing beyond fills. The only Hyperliquid gas fees you will meet are Arbitrum gas on deposit (usually $0.10–$0.50) and HYPE-denominated gas on HyperEVM contract calls, which has nothing to do with the order book.

The practical rule: your total trading cost on Hyperliquid is maker or taker fee x notional, minus discounts, plus any funding you pay while holding through the hour. No other line items apply.

Hyperliquid fee tiers by 14-day volume

The more you trade, the less you pay per fill: your tier is set by total trading volume over the trailing 14 days, recalculated continuously. Spot volume counts 2x toward the threshold, so $1M of spot trades moves you along the ladder as much as $2M of perps.

Two observations. First, the maker side is designed to hit zero relatively early ($500M in two weeks is large but well within reach of professional market makers), which is how Hyperliquid keeps books tight. Second, the taker curve is gentle: even a $7B-a-fortnight whale pays 0.024%, roughly half the retail rate, not a tenth of it. Hyperliquid deliberately avoids giving huge takers near-free trading because taker fees fund the buybacks.

Maker rebates: at very high tiers Hyperliquid has offered small negative maker fees (rebates) for market makers meeting volume share thresholds. These are programmatic and change over time; check the docs if you run a market-making operation.

Hyperliquid zero fee: who actually pays nothing?

You can trade several things on Hyperliquid for free, even if "hyperliquid 0 fee" searches usually come from traders comparing with Lighter, which markets no fees for retail. "Zero" applies in these cases:

• Makers above $500M 14-day volume pay 0% on perps and spot.
• Order placement, cancels and modifications are always free; you are charged only on fills.
• Deposits and internal transfers are free.
• Vault depositors pay no fee to the protocol on the vault's trading (HLP trades under its own tier).

Everyone else pays, but the money is recycled: the Assistance Fund uses roughly 97–99% of perp fees to buy HYPE. If you stake HYPE, part of what you pay comes back as fee discounts and, indirectly, buyback pressure. We compare the two models in our Hyperliquid vs Lighter comparison.

HYPE staking fee discounts

Staking HYPE with any validator cuts your fees by 5% to 40%. The discount applies to your volume-tier rate, not the base rate, so it benefits everyone.

At September 2026 prices, Wood costs a few hundred dollars and pays for itself after roughly $500k of taker volume; Gold is a meaningful commitment but 10% off is worth $45 per $1M of taker volume, on top of the 2–2.5% staking APY. Remember the 7-day unbonding period if you might need the HYPE back quickly. Full walkthrough in our Hyperliquid staking guide.

The 4% referral discount

You get a 4% discount on trading fees for your first $25 million of volume simply by creating your account via a referral link. The discount is applied at fill time and is visible in the Referrals tab. The referrer receives a share of the fees paid. It is the simplest discount to obtain, costs nothing, stacks with staking and has no downside. Our Hyperliquid referral code guide walks through applying SIXPROSPER before your first trade.

👉 Open the Hyperliquid app and save 4% on fees

How discounts stack

You can combine every discount, because they are multiplicative, not additive. Your effective fee is:

Effective fee = tier rate x (1 − staking discount) x (1 − referral discount)

Example: a retail trader (base tier) with Gold staking and a referral pays a taker fee of 0.045% x 0.90 x 0.96 = 0.03888%. A Diamond staker with a referral at the $500M tier pays 0.036% x 0.60 x 0.96 = 0.0207% taker and 0% maker.

Spot fees on Hyperliquid

You can buy and sell HYPE, PURR, HIP-1 tokens and Unit-bridged BTC/ETH/SOL for 0.07% taker / 0.04% maker at the base tier, falling with volume to 0.02% / 0%. Spot fees are paid in the quote asset (usually USDC) and, unlike perp fees, are burned rather than sent to the Assistance Fund; HYPE-quoted pairs burn HYPE directly. Spot volume counts 2x toward fee tiers, a nudge to keep spot books liquid. Token deployers who win a HIP-1 ticker auction can also set a trading fee share on their pair, so check the market info panel for any deployer fee.

HIP-3 builder market fees

Check the deployer fee before trading stocks or commodities, because HIP-3 lets anyone who stakes 500,000 HYPE deploy perp markets with their own surcharge. On a HIP-3 market such as XYZ100, NVDA, gold or WTI crude you pay:

1. The protocol fee at your normal tier and discounts, and
2. A deployer fee set by the market's operator, capped at 50% of the base rate.

So a base-tier taker on a trade.xyz market might pay up to 0.045% + 0.0225% = 0.0675%, though most deployers charge less than the cap to stay competitive. The deployer's fee is displayed in the market details panel. Deployer fees go to the deployer; the protocol portion still feeds the Assistance Fund. The August 2026 "Star" update gave deployers finer control over fee schedules, so rates can vary by market. Learn how these markets work in our Hyperliquid HIP-3 guide.

HIP-4 prediction market fees

You pay a familiar structure on prediction markets too: HIP-4 outcome markets, live since May 2026 with Outcome.xyz's daily BTC markets first, charge a protocol fee comparable to perps plus a deployer-set component within protocol limits. Because outcome shares are priced between 0 and 1, fees are charged on notional traded rather than on the payout. Check each market's info panel; details are in our Hyperliquid outcome markets guide.

Builder codes: app-level fees

You stay in control of what any app can charge you: builder codes let third-party front-ends, bots and mobile apps attach a fee to orders they route, but you approve a maximum builder fee once per app (for example 0.01% or 0.05%) and the app cannot exceed it. The official web and mobile apps charge no builder fee; third-party mobile clients like Lootbase or Dexari and bot platforms typically charge one to five basis points. Always read the approval prompt. More in the Hyperliquid builder codes guide.

Deposit, withdrawal and other costs

• Deposit via Arbitrum bridge: free from Hyperliquid's side; you pay Arbitrum gas for the approve and deposit transactions, usually $0.10–$0.50 total.
• Withdrawal to Arbitrum: flat ≈ $1 USDC, deducted from the amount; arrives in roughly 3–5 minutes.
• Unit deposits (BTC/ETH/SOL): you pay the source chain's network fee; Unit charges a small spread on withdrawals.
• Third-party bridges (deBridge, Across, Relay, Jumper): 0.05%–0.3% plus gas, in exchange for one-click routes from other chains.
• HyperEVM transactions: gas paid in HYPE, typically fractions of a cent, and separate from HyperCore trading, which is gas-free.
• Funding payments are transfers between longs and shorts, not fees; the protocol keeps none. See the Hyperliquid funding rates guide.
• Liquidation: if a position is liquidated, the maintenance margin is generally lost to the liquidator (often the HLP vault); details in the Hyperliquid leverage guide.

Routes are compared in the Hyperliquid withdraw guide.

Worked examples: what you pay at $10k, $100k and $1M

These examples show what you actually pay at the base volume tier (< $5M in 14 days), perps, as of September 2026.

The biggest saving is in your hands: trading with limit orders cuts your bill by two-thirds regardless of discounts. A $1M-a-fortnight trader saves $83 per million by combining Platinum staking and a referral, but would save $300 per million simply by switching from taker to maker. And note that "volume" means notional: a $10,000 position at 10x leverage is $100,000 of volume to open and another $100,000 to close, so a round trip costs $90 at taker rates with $10,000 of margin. Leverage multiplies fees exactly as it multiplies exposure.

Hyperliquid 24h fees and daily revenue

You can verify where your fees go, because every fee is on-chain and aggregate numbers are public. As of September 2026, Hyperliquid's 24h fees typically run between $2.5 million and $5 million, corresponding to $5–15 billion of daily perp volume, and monthly revenue of roughly $80–120 million. Around 97–99% of the perp portion is spent on HYPE buybacks the same day, which is why traders track "hyperliquid daily revenue" as a token metric. You can watch live figures on DefiLlama and in our Hyperliquid revenue breakdown; the Hyperliquid tokenomics guide explains how the Assistance Fund works. The dedicated Hyperliquid Assistance Fund guide goes deeper on what is bought, what is burned and how to track it.

Hyperliquid fees vs Lighter, Aster, dYdX and CEXs

You already pay less than on Binance and Coinbase at the base tier, and high-volume makers reach parity with zero-fee venues, even though Hyperliquid is not the cheapest venue on paper. The relevant comparison is total cost: spread, slippage and funding usually matter more than the headline rate on liquid markets, and Hyperliquid's depth is the deepest on-chain. Detailed head-to-heads: Lighter vs Hyperliquid, Aster vs Hyperliquid, Hyperliquid vs dYdX and Hyperliquid vs Binance. GMX, the older pool-based venue in the chart above, is covered in GMX vs Hyperliquid.

How to reduce your Hyperliquid fees

1. Use limit orders. Maker fees are one-third of taker fees at every tier. Post-only mode guarantees you never accidentally take.
2. Sign up with a referral. 4% off for $25M of volume, zero effort.
3. Stake HYPE. Even 10 HYPE (Wood) gives 5%; 1,000 HYPE (Gold) gives 10%.
4. Consolidate volume. Tiers are per address, so trading from one main account instead of several gets you to $5M faster. Sub-accounts share the master's tier.
5. Trade spot to climb tiers. Spot counts double toward your volume tier.
6. Avoid builder fees you do not need. Use the official app for large trades; third-party apps for convenience.
7. Watch HIP-3 deployer fees. Two deployers may list the same asset at different fees.
8. Batch withdrawals. The $1 withdrawal fee is flat, so withdraw less often in larger amounts.
9. Check funding. Holding a position through high funding can cost more than any trading fee; see the Hyperliquid funding rates guide.

Risk note: cheaper fees never justify a larger position. Leverage, not fees, is what empties accounts.

Bottom line

You pay a simple, low schedule on Hyperliquid: 0.045% taker and 0.015% maker on perps, 0.07% / 0.04% on spot, no gas, and a $1 withdrawal. Volume tiers bring makers to zero at $500M a fortnight, HYPE staking cuts 5–40% and a referral adds 4%, all stacked multiplicatively. HIP-3 and HIP-4 markets can add a deployer fee, and third-party apps a builder fee, both disclosed before you trade. Nearly all perp fees fund HYPE buybacks, so the schedule doubles as the token's cash-flow engine. Trade with limit orders, stake a little HYPE and use a referral, and you will already be paying less than on Binance while trading on the Hyperliquid DEX with self-custody.