Hyperliquid Fees Explained
Hyperliquid fees depend on whether an order makes or takes liquidity, your volume tier and eligible discounts. Here is how to calculate the cost.
Direct answer
How are Hyperliquid trading fees structured?
Hyperliquid charges each fill as a percentage of notional value. Maker and taker rates improve with rolling volume, while eligible referral and HYPE-staking discounts can reduce the effective rate. Check the live fee schedule for current numbers.
Updated 19 Aug 2026
Every Hyperliquid trade pays a fee calculated as a percentage of the position's notional value. Which percentage depends on three things: whether you made or took liquidity, your rolling volume tier, and any discounts attached to your account.
What is the difference between maker and taker fees?
Taker orders (market orders, or limit orders that cross the book) remove liquidity and pay the higher rate. Maker orders rest on the book and pay less — on some tiers makers have even been paid rebates. If your strategy allows resting orders, the fee difference compounds meaningfully over volume.
How can you reduce Hyperliquid fees?
- Volume tiers — rolling trading volume moves you to better rates automatically.
- Referral codes — new accounts get a percentage off eligible fees, subject to programme limits.
- Staking — HYPE staking tiers have offered additional fee reductions; check current terms.
How do Hyperliquid fees affect a trade?
Fee example
illustrative values
- Example trade size
- $10,000.00
- Base taker fee
- 0.045%
- Referral discount
- −4% of fee
- Effective fee rate
- 0.0432%
- Fee without code
- $4.50
- Fee with code
- $4.32
A 4% referral discount reduces the fee itself, not the trade — on a $10,000.00 taker order it is the difference between the last two rows. Actual rates depend on your fee tier and Hyperliquid's current schedule; this panel is an example, not a quote.
Read the complete fee guide · Discount shown: 4% (configurable)
Frequently asked questions
Are fees charged on both open and close?
Yes — each fill is a trade, so a round trip pays fees twice. Factor that into break-even calculations.
Does the referral discount stack with volume tiers?
The discount applies to the fees your tier produces, so improving your tier and holding a referral discount both help. Exact stacking rules are defined in the official terms.
Sources
- Hyperliquid documentation — Fees↗ external