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

Hyperliquid charges 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. Fees fall automatically with your 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. This 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

• Base perp fees: 0.045% taker / 0.015% maker; spot: 0.07% / 0.04%. No gas, no funding fee to the protocol.
• Volume tiers are computed on rolling 14-day volume; spot volume counts double toward your tier.
• Zero maker fee starts at $500M 14-day volume; the top tier ($7B+) pays 0.024% taker.
• Discounts stack multiplicatively: volume tier x staking tier (5–40%) x referral (4%).
• HIP-3 markets add a deployer fee of up to 50% on top of the base rate; builder-code apps may add a few basis points.
• Almost all perp fees are used to buy back HYPE via the Assistance Fund, which is why fees are not a pure cost to token holders.

Hyperliquid fees at a glance

Fees are charged in USDC at settlement and appear on each fill in your trade history. The official schedule lives in the Hyperliquid docs.

Hyperliquid fee tiers by 14-day volume

Your tier is set by your 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?

Searches for "hyperliquid 0 fee" and "hyperliquid zero fee" usually come from traders comparing with Lighter, which markets no fees for retail. On Hyperliquid, "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 Hyperliquid vs Lighter.

HYPE staking fee discounts

Staking HYPE with any validator moves you into a discount tier. 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 Hyperliquid staking.

The 4% referral discount

Every account created via a referral link receives a 4% discount on trading fees for its first $25 million of volume. 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, and stacks with staking. There is no downside to using one.

👉 Open the Hyperliquid app and save 4% on fees

How discounts stack

Discounts 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

Spot trading of HYPE, PURR, HIP-1 tokens and Unit-bridged BTC/ETH/SOL is charged at 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

HIP-3 lets anyone who stakes 500,000 HYPE deploy perp markets, and it changed the fee picture. 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 HIP-3 builder markets.

HIP-4 prediction market fees

HIP-4 outcome markets, live since May 2026 with Outcome.xyz's daily BTC markets first, follow the same principle: 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 HIP-4 prediction markets guide.

Builder codes: app-level fees

Builder codes allow third-party front-ends, bots and mobile apps to attach a fee to orders they route. 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 trading bots and builder codes.

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 Hyperliquid funding rates.
• Liquidation: if a position is liquidated, the maintenance margin is generally lost to the liquidator (often the HLP vault); details in leverage and liquidation.

Routes are compared in the bridge and deposit guide.

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

All examples use the base volume tier (< $5M in 14 days), perps, as of September 2026.

A few things stand out. 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

Because every fee is on-chain, 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 revenue, volume and valuation breakdown; the HYPE token guide explains how the Assistance Fund works.

Hyperliquid fees vs Lighter, Aster, dYdX and CEXs

Hyperliquid is not the cheapest venue on paper, but its fees are already below Binance and Coinbase at the base tier and reach parity with zero-fee venues for high-volume makers. 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: Hyperliquid vs Lighter, vs Aster, vs dYdX and vs Coinbase, Kraken and Robinhood.

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 funding guide.

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

Bottom line

Hyperliquid's fees are simple: 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. Because nearly all perp fees fund HYPE buybacks, 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 app DEX with self-custody.