Hyperliquid fees: maker, taker and VIP tiers
Hyperliquid fees at a glance
- Taker fee, Tier 0
- 0.045% (4.5 bps)
- Maker fee, Tier 0
- 0.015% (1.5 bps)
- Lowest taker fee by volume
- 0.024% at Tier 6, from $7B of 14-day volume
- Measured cost, $10,000 BTC buy
- 4.57 bps, rank 13 of 38 on November 9, 2026
- Funding interval
- 1 hour on every market
- BTC leverage cap
- 40x
Hyperliquid counts perps volume once and spot volume twice when it sets the tier, over a rolling 14 days. Tier 3 ($100M) is the first tier at a 0.030% taker rate, and Tier 4 is the first with no maker fee. On a $10,000 taker round trip at Tier 0, the 4% referral discount saves $0.36.
Hyperliquid discounts and fee conditions
- A referral code gives a 4% fee discount on the first $25 million of volume. The discount does not apply to vaults or sub-accounts. hyperliquid.gitbook.io, read September 23, 2026.
- HYPE staking can lower the rate further. The registry does not model staking discounts, maker-share rebates or HIP-3 deployer fees. api.hyperliquid.xyz, read September 3, 2026.
- Spot uses its own rates. An account with no volume pays 0.040% to add spot liquidity and 0.070% to take it. Staking and pair discounts are not included. api.hyperliquid.xyz, read September 13, 2026.
The 4% comes off the rate of the Hyperliquid fee tier that the account is on, until the account reaches $25M of volume. The referrer gets 10% of the fees of the referred account, less the discount. The largest saving on the full $25M is $450, at the Tier 0 taker rate. An account that only adds liquidity at Tier 0 saves $150 on the same volume. How to apply a Hyperliquid referral code.
| Tier | Taker rate | With the code | Taker fees on $25M | Saved on the cap |
|---|---|---|---|---|
| Tier 0, from $0 | 0.045% | 0.0432% | $11,250 | $450 |
| Tier 1, from $5M | 0.040% | 0.0384% | $10,000 | $400 |
| Tier 2, from $25M | 0.035% | 0.0336% | $8,750 | $350 |
| Tier 3, from $100M | 0.030% | 0.0288% | $7,500 | $300 |
Hyperliquid fee tiers by 14-day volume
Hyperliquid sets the level from 14-day weighted volume (perps + 2x spot). The maker rate falls to 0% at Tier 4, from $500M of volume. The largest taker cut is from Tier 1 to Tier 2: 0.040% to 0.035%.
| Level | 14-day volume from | Maker | Taker |
|---|---|---|---|
| Tier 0 | $0 | 0.015% | 0.045% |
| Tier 1 | $5M | 0.012% | 0.040% |
| Tier 2 | $25M | 0.008% | 0.035% |
| Tier 3 | $100M | 0.004% | 0.030% |
| Tier 4 | $500M | 0% | 0.028% |
| Tier 5 | $2B | 0% | 0.026% |
| Tier 6 | $7B | 0% | 0.024% |
With $10M of 14-day volume, a Hyperliquid account reaches Tier 1 and pays $4,000 in taker fees for that window.
| 14-day volume | Level | Fees, all taker | Fees, all maker |
|---|---|---|---|
| $1M | Tier 0, 0.045% taker | $450 | $150 |
| $10M | Tier 1, 0.040% taker | $4,000 | $1,200 |
| $100M | Tier 3, 0.030% taker | $30,000 | $4,000 |
| $1B | Tier 4, 0.028% taker | $280,000 | $0.00 |
Measured cost of a Hyperliquid market buy
A $1,000,000 BTC buy cost 5.13 bps on Hyperliquid, 0.56 bps more than the $10,000 buy.
| Market buy | Rank | Taker fee, bps | Half-spread, bps | Impact, bps | Total, bps | Total, USD |
|---|---|---|---|---|---|---|
| BTC $10,000 | 13 of 38 | 4.50 | 0.07 | 0.00 | 4.57 | $4.57 |
| BTC $100,000 | 13 of 35 | 4.50 | 0.07 | 0.21 | 4.78 | $47.81 |
| BTC $1,000,000 | 9 of 33 | 4.50 | 0.07 | 0.56 | 5.13 | $512.87 |
| ETH $10,000 | 15 of 40 | 4.50 | 0.24 | 0.00 | 4.74 | $4.74 |
| ETH $100,000 | 11 of 37 | 4.50 | 0.24 | 0.00 | 4.74 | $47.35 |
| ETH $1,000,000 | 6 of 34 | 4.50 | 0.24 | 0.32 | 5.06 | $505.63 |
Hyperliquid fees vs Binance, Bybit, OKX and Lighter
Hyperliquid charges a lower base taker rate than Binance, Bybit and OKX, by up to 1 bps. Lighter charges less, by up to 4.5 bps. For a measured $100,000 BTC buy, Hyperliquid had the second-lowest cost of the 5 venues in this table.
| Metric | Hyperliquid | Binance | Bybit | OKX | Lighter |
|---|---|---|---|---|---|
| Base maker | 0.015% | 0.020% | 0.020% | 0.020% | 0% |
| Base taker | 0.045% | 0.050% | 0.055% | 0.050% | 0% |
| Taker fee on $10,000 | $4.50 | $5.00 | $5.50 | $5.00 | $0.00 |
| Taker fee on $100,000 | $45.00 | $50.00 | $55.00 | $50.00 | $0.00 |
| Lowest ladder taker | 0.024% from $7B | 0.017% from $25B | 0.035% from $50M | 0.015% from $20B | — |
| Measured BTC buy, $10,000, bps | 4.57 | 5.01 | 5.51 | 5.01 | 0.31 |
| Measured BTC buy, $100,000, bps | 4.78 | 5.01 | 5.51 | 5.01 | 0.32 |
| Funding interval, hours | 1 | 8 | 8 | 8 | 1 |
Worked example: a $10,000 round trip on Hyperliquid
Hypothetical: a $10,000 Hyperliquid position opens and closes at one price, so only the trading fees apply.
| Entry + exit | Entry fee | Exit fee | Total fee |
|---|---|---|---|
| Taker + taker, Tier 0 | $4.50 | $4.50 | $9.00 |
| Maker + taker, Tier 0 | $1.50 | $4.50 | $6.00 |
| Taker + taker, Tier 3 ($100M) | $3.00 | $3.00 | $6.00 |
| Taker + taker, 4% referral discount | $4.32 | $4.32 | $8.64 |
Hyperliquid funding interval and leverage cap
Hyperliquid settles funding every hour on every market. The Hyperliquid BTC perpetual allows leverage of up to 40x.
- The funding formula uses an 8-hour rate, and each hour pays one eighth of it. The cap is 4% per hour. hyperliquid.gitbook.io, read September 23, 2026.
From October 10, 2026 to November 9, 2026, 720 settled Hyperliquid BTC payments added up to +0.7607%. A $10,000 BTC long paid $76.07 in that time, and a short of the same size got it. That is about 8 times the $9.00 taker fee to open and close the same position at the base tier. 95% of those payments had a positive rate, so longs paid shorts in most hours. The cap of 4% per hour limits one payment to $400 on a $10,000 position. Funding is a payment between longs and shorts. The referral discount and the fee tiers do not change it.
| $10,000 position | BTC | ETH |
|---|---|---|
| Settled payments, last 30 days | 720 | 720 |
| Sum of settled rates | +0.7607% | +0.5475% |
| Funding paid by a long | $76.07 | $54.75 |
| Payments with a positive rate | 95% | 88% |
| Taker fee to open and close, base tier | $9.00 | $9.00 |
What wallets and apps add to Hyperliquid fees
A wallet or trading app can send orders to Hyperliquid with a builder code, and it then adds its own fee to each fill. Hyperliquid caps that builder fee at 10 bps (0.1%) on perps. From November 2, 2026 to November 8, 2026, the 6 apps with the most notional added 1.48 to 10.00 bps. A $10,000 taker order costs $4.50 direct at the base tier and $14.50 through Trust Wallet. 3 of these 6 apps at least double the Hyperliquid taker fee.
Hyperliquid fee questions
How much are Hyperliquid fees?
At Tier 0, a Hyperliquid taker order pays 0.045% and a maker order pays 0.015%.
That base taker rate is below the 0.050% median of 19 venues with a fee page.
Volume can lower the taker rate to 0.024% at Tier 6, from $7B of 14-day volume.
What does a $10,000 Hyperliquid trade cost in fees?
At the base rate, Hyperliquid takes $4.50 on a $10,000 taker fill and $9.00 on a taker entry and exit.
On November 9, 2026, the cost engine measured 4.57 bps ($4.57) for a $10,000 BTC market buy, rank 13 of 38.
The spread and the price impact added 0.07 bps to the fee.
How do Hyperliquid fee tiers work?
Hyperliquid has 7 fee levels, and 14-day weighted volume (perps + 2x spot) decides the level of an account.
The taker rate first falls at Tier 1, from $5M, to 0.040%.
Is there a discount on Hyperliquid trading fees?
Yes. A referral code gives a 4% fee discount on the first $25 million of volume. The discount does not apply to vaults or sub-accounts.
HYPE staking can lower the rate further. The registry does not model staking discounts, maker-share rebates or HIP-3 deployer fees.
How do Hyperliquid fees compare with Binance?
By the November 9, 2026 sweep, Hyperliquid cost 0.44 bps less than Binance for a $10,000 BTC buy: 4.57 bps against 5.01 bps.
At $100,000, the base taker fee is $45.00 on Hyperliquid and $50.00 on Binance.
How often does Hyperliquid charge funding?
Hyperliquid settles funding every hour on every market.
In the last 30 days, settled BTC funding cost a $10,000 long $76.07. The taker fee to open and close the same position at the base tier is $9.00.
Do wallets and apps add fees to Hyperliquid trades?
Yes, an app that routes orders with a builder code adds its own fee, up to 10 bps on perps.
From November 2, 2026 to November 8, 2026, the largest apps added 1.48 to 10.00 bps. A $10,000 taker order cost $4.50 direct and $14.50 through Trust Wallet.
More on Hyperliquid
Sources
- Base rates: hyperliquid.gitbook.io, read September 23, 2026
- Fee tiers: api.hyperliquid.xyz, read September 13, 2026
- Funding interval: hyperliquid.gitbook.io
- Measured cost: PerpFinder cost methodology