Hyperliquid fees explained: tiers, maker rebates, HYPE staking and hidden costs
Hyperliquid charges a fee on every fill: a taker fee when your order takes liquidity from the book (market orders and limit orders that execute immediately) and a lower maker fee when your resting limit order is filled. There are no deposit, withdrawal or liquidation fees on the exchange itself. Funding is not a fee either — it is paid between traders.
Fee tiers
The tier depends on your trading volume over the last 14 days (perps volume plus twice the spot volume) and is recalculated daily. Sub-accounts share the tier of the main account. The table shows the perp fees and what a $100K trade costs to open and close with market orders:
| 14-day volume | Taker | Maker | Round trip on $100K | |
|---|---|---|---|---|
| Hyperliquid tier 0 | < $5M | 0.045% | 0.015% | $90 |
| Hyperliquid tier 1 | > $5M | 0.040% | 0.012% | $80 |
| Hyperliquid tier 2 | > $25M | 0.035% | 0.008% | $70 |
| Hyperliquid tier 3 | > $100M | 0.030% | 0.004% | $60 |
| Hyperliquid tier 4 | > $500M | 0.028% | 0.000% | $56 |
| Hyperliquid tier 5 | > $2B | 0.026% | 0.000% | $52 |
| Hyperliquid tier 6 | > $7B | 0.024% | 0.000% | $48 |
| Lighter Standard | — | 0.000% | 0.000% | $0 |
| Lighter Premium | — | 0.028% | 0.004% | $56 |
How to pay less
- Use limit orders. At the base tier a maker fill costs 0.015% instead of 0.045% — three times cheaper. Large makers with more than 0.5% of the exchange’s maker volume even receive rebates of 0.001–0.003%.
- Stake HYPE. Staking gives a discount on all trading fees: from 5% for more than 10 HYPE to 40% for more than 500,000 HYPE (Diamond).
- Use a referral code. A new account that joins with a code gets a 4% fee discount on its first $25M of volume.
- Watch the app you trade from. Wallets and third-party trading apps can add a builder fee on top of the exchange fee — up to 0.1% on perps and up to 1% on spot. On the official interface there is none.
Stocks and other HIP-3 markets cost more
Markets deployed by builders under HIP-3 can have a higher fee. On the xyz exchange with stocks, indices and commodities (NVDA, S&P 500, gold, oil — see the stocks page) the fee is twice the usual: 0.090% taker and 0.030% maker at the base tier, shared between Hyperliquid and the market deployer. Some new markets run in “growth mode” with fees cut by 90% or more.
Hyperliquid vs Lighter and centralized exchanges
Lighter, the second-largest perp DEX, charges nothing on Standard accounts (market orders get a 300 ms delay) and 0.028% taker / 0.004% maker on Premium accounts. Typical base fees on large centralized exchanges are around 0.05% taker and 0.02% maker. Compare the two DEXs side by side on the Hyperliquid vs Lighter page.
Fees are only part of the cost
For a position held for days, funding often costs more than fees: at the baseline rate longs pay about 11% a year. Count everything before you trade — the PnL calculator includes fees and the breakeven price, the funding calculator shows what holding costs.