Hyper liquid fees are maker and taker charges set by 14-day volume

Hyper liquid fees are calculated on each filled order from its notional value, maker-or-taker status, rolling 14-day weighted volume tier, and any active discounts or market-specific modifiers. The base Tier 0 rate is 0.045% taker and 0.015% maker for perpetuals, versus 0.070% taker and 0.040% maker for spot. Higher volume lowers those rates; spot volume counts twice toward the shared tier. Funding, spread, and price impact remain separate trading costs.

Updated on 15 July 2026

Follow the charge from order entry to the final fill

The Hyperliquid fee path begins when HyperCore fills an order. Submission and cancellation create no trading charge because the fee applies to executed notional. Each fill receives maker status when a resting order supplies liquidity. It receives taker status when the order immediately matches liquidity already on the book.

A partial fill carries a fee only on the executed quantity. The unfilled remainder produces no charge unless it later trades. HyperCore records each execution separately, so one order filled against several counterparties produces several fee entries. Trade history shows the realized charge, while the Hyperliquid API exposes the fee within the fill record.

The order label alone does not determine the rate. A limit order may become either maker or taker. Its actual interaction with HyperCore's price-time-priority order book decides the classification.

Marketable limits turn price control into taker status

A Hyperliquid marketable limit order pays the taker rate because it crosses the book immediately. The limit price restricts the worst acceptable execution price; it does not promise maker treatment. This distinction matters whenever the gap between maker and taker rates exceeds the expected benefit of immediate execution.

Post Only, also called ALO, forces an order to rest as liquidity. HyperCore rejects a Post Only order that would match immediately. Immediate or Cancel, or IOC, takes available liquidity and cancels any remainder, so each executed portion receives taker treatment. Triggered take-profit and stop-loss instructions become market orders and therefore remove liquidity when filled.

Moving a price one tick away from the book does not guarantee a fill. Moving it through the best opposing price gains immediacy but changes the fee role. That cause-and-effect relationship belongs in every quote comparison.

Fourteen-day weighting moves one account through seven volume tiers

Hyperliquid's rolling 14-day weighted volume sets one fee tier across perpetuals, HIP-3 perpetuals, and spot. The protocol assesses the tier at the end of each UTC day. Its weighting formula adds perpetual notional to twice the spot notional, giving every dollar of spot volume a 2× contribution.

There are seven volume tiers. Tier 0 has no minimum. Tiers 1 through 6 require weighted volume above $5 million, $25 million, $100 million, $500 million, $2 billion, and $7 billion, respectively. These are strict threshold tests: reaching a displayed boundary is not the same as exceeding it.

Subaccount activity contributes to the master account's volume, and all associated subaccounts share that volume tier. Vault volume remains separate. Referral discounts also treat vaults and subaccounts as independent clearinghouse accounts, so their final rates may differ even when the volume tier matches.

Perpetual rates step down at six volume thresholds

The base Hyperliquid perpetual schedule begins at 0.045% taker and 0.015% maker in Tier 0. Both rates decline as the rolling weighted-volume tier rises.

The Tier 1 through Tier 6 taker-and-maker rate pairs are 0.040% and 0.012%, 0.035% and 0.008%, 0.030% and 0.004%, 0.028% and 0.000%, 0.026% and 0.000%, and 0.024% and 0.000%. These figures are base rates before staking, referral, HIP-3, aligned-collateral, growth-mode, or builder-code adjustments.

The fee uses filled notional rather than posted margin or profit. Opening and closing fills are charged independently. A 0.000% base maker rate in Tiers 4, 5, and 6 means no base maker charge; a negative rate requires qualification under the separate maker-rebate schedule.

Spot trades cost more at base rates yet advance tiers faster

The Hyperliquid spot schedule starts at 0.070% taker and 0.040% maker in Tier 0. Tier 1 charges 0.060% and 0.030%, Tier 2 charges 0.050% and 0.020%, and Tier 3 charges 0.040% and 0.010%.

At Tier 4, spot taker and maker rates become 0.035% and 0.000%. Tier 5 uses 0.030% and 0.000%, while Tier 6 uses 0.025% and 0.000%. Spot notional still receives the 2× weighting when HyperCore determines the account's shared volume tier, so spot trading advances the threshold calculation faster than equal perpetual notional.

Pairs between two spot quote assets receive an 80% reduction in taker fees, maker rebates, and volume contribution. USDC and USDT are established quote assets within this framework. Pair metadata determines whether the reduction applies; the ticker alone does not establish fee treatment.

HYPE staking and referrals reduce the scheduled charge

HYPE staking cuts the scheduled trading rate through six fixed discount levels. Holding more than 10 HYPE in the staking balance earns 5%, while amounts above 100 HYPE and 1,000 HYPE earn 10% and 15%.

The upper staking tiers require more than 10,000 HYPE for 20%, 100,000 HYPE for 30%, and 500,000 HYPE for 40%. Volume chooses the base rate first; the staking percentage then reduces that rate. Trading and staking from the same address require no separate link.

An active referral code supplies a 4% fee discount on the referred user's first $25 million of cumulative volume. That discount does not apply to vaults or subaccounts. Referrers receive 10% of the user's eligible fees, less the discount granted, during the first $1 billion of referred volume. The effective account rate therefore reflects volume, staking, and referral state together.

The Hyperliquid maker-rebate schedule rewards accounts that supply a defined share of rolling 14-day weighted maker volume. A qualifying negative maker rate means the trading wallet receives value when its resting order fills.

A maker share above 0.5% sets the maker fee to −0.001%. Shares above 1.5% and 3.0% raise the rebate to −0.002% and −0.003%, respectively. HyperCore pays these rebates continuously on each trade rather than waiting for the full order to finish or for a later monthly settlement.

Volume tiers and maker-share tiers measure different behavior. Total weighted volume lowers the ordinary schedule. Weighted maker share determines eligibility for a negative maker rate. A trader should therefore inspect both values before treating a zero base rate as a rebate.

HIP-3, builder codes, and quote assets alter the final rate

HIP-3 markets and builder codes introduce market-specific charges after the account-level rate is known. A HIP-3 deployer may configure an additional fee share from 0% to 300%; growth mode narrows that range to 0% through 100%. When the configured share exceeds 100%, the protocol fee rises to equal the deployer fee.

Growth mode reduces protocol fees, rebates, volume contributions, and Hyperliquid L1 user-rate-limit contributions by 90%. An aligned quote or collateral asset reduces taker fees by 20%, improves maker rebates by 50%, and adds 20% more volume contribution toward tiers. These modifiers belong to the selected market, not merely to the trader's address.

A builder code adds an authorized fee to an order routed by a third-party interface. The maximum is 0.1% for perpetuals and 1% for spot, with no more than 10 active builder approvals per user. The main wallet must approve the ceiling, and the builder needs at least 100 USDC in perpetual account value. Builder charges apply to both sides of perpetual trades but not to the buying side of spot trades.

A hypothetical round trip exposes the notional arithmetic

The Hyperliquid trading-fee formula multiplies filled notional by the effective percentage for that fill. Every account, order, and notional input in this worked example is hypothetical; the Tier 1 schedule rates are the published lookup values.

Assume hypothetical rolling weighted volume of $6 million, no HYPE staking or referral discount, no builder charge, and an ordinary USDC-collateralized perpetual market without HIP-3 modifiers. A hypothetical $40,000 opening taker fill uses the Tier 1 rate of 0.040%. The calculation is $40,000 × 0.0004, producing a 16 USDC fee. Closing the same hypothetical notional as a taker adds another 16 USDC, making the concrete round-trip fee 32 USDC, as set out in Using Hyper liquid.

If both hypothetical fills instead rest as makers, the 0.012% Tier 1 maker rate produces 4.80 USDC per fill and 9.60 USDC total. The maker-versus-taker difference is 22.40 USDC. Spread, price impact, and hourly funding are excluded from both results.

Fee destinations explain why trading, funding, and gas differ

Realistically, Hyperliquid trading fees flow to community components that include HLP, the assistance fund, and eligible deployers. Spot and HIP-3 deployers may retain up to 50% of trading fees generated by their deployed assets. The assistance fund converts its trading-fee allocation into HYPE through Hyperliquid L1 execution, then burns that HYPE.

Perpetual funding is a separate peer-to-peer payment between long and short positions. Hyperliquid settles it every hour and collects no protocol fee from the funding transfer. Its changing rate should not be added to the maker or taker percentage until the position actually spans a funding timestamp.

Generally, HyperEVM transactions form another cost category. They use HYPE for gas under the EIP-1559 mechanism, whereas HyperCore order-book fees follow the schedules above. A new HyperCore account also carries a one-time activation charge of 1 quote token on the first transaction sent to it, such as 1 USDC, 1 USDT, or 1 USDH. Neither amount belongs inside a per-fill trading-rate comparison.

Reconstruct the effective rate before comparing two quotes

A Hyperliquid quote becomes comparable after maker status, product schedule, volume tier, and every modifier are placed in the correct order. Start with the spot or perpetual base pair. Match the account's 14-day tier, then apply HYPE staking, an active referral reduction, maker-rebate eligibility, and any aligned-asset, HIP-3, growth-mode, or builder adjustment.

The Hyperliquid API's userFees response reports account-specific cross and add rates, corresponding to taker and maker execution. A fill's total fee includes its builderFee, while the builder component is also exposed separately. That separation prevents an interface surcharge from being mistaken for a protocol rate.

Day to day, Hyper liquid fees should be compared at equal notional and expected execution status. Normalize each recorded charge into quote value at the fill price, then keep spread, price impact, hourly funding, HyperEVM gas, and account activation outside the maker-taker subtotal. The cleaner quote is the one with the lower complete execution cost for the intended order path.

Hyper liquid fees: quick answers

Does canceling an unfilled Hyperliquid order incur a trading fee?

Canceling an entirely unfilled Hyperliquid order incurs no maker or taker trading fee. Fees attach to executed notional, so a partially filled order pays only on the quantity completed before the remainder is canceled. A Post Only order that would cross immediately is rejected, while an Immediate or Cancel order pays taker fees on any portion that executes.

Can an API wallet approve its own builder-fee allowance?

An API or agent wallet cannot approve its own builder-fee allowance. Hyperliquid requires the user's main wallet to sign the approval that sets a maximum for a named builder; later orders may include a fee up to that ceiling. Each user supports no more than 10 active builder approvals and may revoke an approval when it is no longer needed.

Why does leverage not reduce the fee on a perpetual fill?

Leverage does not reduce a Hyperliquid perpetual trading fee because the fee is calculated from filled notional rather than posted margin. Two positions with equal notional, fee tier, execution role, and modifiers carry equal trading fees even when their collateral allocations differ. Leverage changes margin usage and liquidation exposure, not the maker or taker percentage.

Which account receives maker rebates from partial fills?

Maker rebates from partial fills are paid directly to the qualifying trading wallet as each fill executes. Hyperliquid does not wait for the entire order to complete. If an order fills across several matches, every fill carries its own fee or rebate entry, allowing the total to be reconciled against executed notional and the wallet's effective maker rate.

Are liquidations charged a separate clearance fee on Hyperliquid?

Hyperliquid applies no separate clearance fee to liquidation events. Positions are first submitted to the order book as market liquidation orders, so execution price and ordinary position accounting still matter. The absence of a clearance surcharge does not remove liquidation losses, price impact, or any trading fee associated with completed order-book execution.