Hyper liquid fees are set by maker-taker rates, volume, and HYPE staking

Which quote is cheaper for the order you are placing?

A Hyperliquid order quote is cheaper only when its complete execution cost is lower for the same market, direction, notional, and expected fill. Start with filled notional multiplied by the account's applicable maker or taker rate, add any builder charge, and then account for the bid-ask spread, price impact, and funding expected during the holding period.

Consider one transparent hypothetical. A 25,000 USDC perpetual fill at the base taker rate of 0.045% costs 11.25 USDC, because 25,000 × 0.00045 equals 11.25. The same notional filled as a maker at 0.015% costs 3.75 USDC. If an opening fill and a later closing fill are both exactly 25,000 USDC, the two taker charges total 22.50 USDC, while two maker charges total 7.50 USDC.

That arithmetic isolates trading fees; it does not predict execution quality. A resting order might never fill, whereas an immediately executable order accepts the available book. Comparing Hyper liquid fees therefore requires both the percentage and the quantity likely to execute at each price level.

Hyperliquid, GMX V2, dYdX Chain, and Uniswap v3 price liquidity differently

Hyperliquid and dYdX Chain use order books where maker-taker classification, spread, and fill depth shape cost. GMX V2 uses oracle-referenced pools, combining position charges with price impact, borrowing, funding, and network execution costs rather than rewarding a resting limit order through the same maker schedule.

Uniswap v3 applies the selected pool's fee tier - commonly 0.01%, 0.05%, 0.30%, or 1.00% - alongside curve-based price impact and chain gas, including Ethereum gas when the trade settles there. Hyperliquid trading on HyperCore has no per-order gas charge, yet that difference alone does not settle the comparison. Normalize the asset exposure, notional, expected execution price, holding time, collateral route, and closing cost before choosing a venue.

The perpetual schedule from base tier to high-volume tiers

On a practical level, Hyperliquid's perpetual schedule contains seven volume levels, numbered 0 through 6, and gives each level separate taker and maker rates. At tier 0, perpetual takers pay 0.045% and makers pay 0.015%; above 5 million dollars of weighted 14-day volume, those rates fall to 0.040% and 0.012%. Above 25 million dollars, the pair becomes 0.035% and 0.008%, followed by 0.030% and 0.004% above 100 million dollars.

The remaining thresholds mainly reward sustained scale. Above 500 million dollars, the taker rate is 0.028% and the scheduled maker rate is 0%; above 2 billion dollars, they are 0.026% and 0%; above 7 billion dollars, they are 0.024% and 0%. A maker-rebate qualification can move the effective maker rate below zero, but it belongs to a separate maker-volume ladder rather than the ordinary volume tier alone.

One fee tier applies across validator-operated perpetuals, HIP-3 perpetuals, and spot assets. The asset changes the schedule or modifier used for a particular fill; it does not create an independent volume tier for every ticker.

Spot rates and the double-weighted volume rule

After the first pass, Hyperliquid's spot schedule starts at 0.070% for takers and 0.040% for makers. Above 5 million dollars of weighted volume, the rates become 0.060% and 0.030%; above 25 million dollars, they become 0.050% and 0.020%; and above 100 million dollars, they become 0.040% and 0.010%.

Higher spot tiers charge 0.035% taker and 0% maker above 500 million dollars, 0.030% and 0% above 2 billion dollars, then 0.025% and 0% above 7 billion dollars. Tier qualification uses the formula: 14-day weighted volume equals perpetual volume plus two times spot volume. The two-times weighting accelerates tier progress; it does not double the notional used to calculate a spot fill's fee.

For most users, Hyperliquid reassesses the rolling 14-day tier at the end of each day in UTC. Subaccount volume contributes to the master account, and those subaccounts share its tier, while vault volume is measured separately. That distinction matters when two interfaces show the same market but route activity through different account structures.

When a limit order receives the maker rate

Order role determines the Hyperliquid fee: a fill that removes resting liquidity is a taker fill, while one that supplies resting liquidity is a maker fill. A market order and an Immediate or Cancel order remove available liquidity. A marketable limit order also pays the taker rate when it crosses the book immediately.

A Good Til Cancel limit order can produce either classification. Its crossing portion is taker activity, while a remainder that rests and fills later supplies liquidity. Add Liquidity Only, also called post-only, prevents an immediate cross by canceling the order instead. Cancellation and unfilled size create no trading charge because fees attach to completed fills.

Generally, Hyperliquid TWAP divides an order into suborders submitted every 30 seconds, with a 3% maximum slippage constraint for each suborder. Those child orders behave like market execution, so the displayed maker rate is not the appropriate assumption for estimating their direct trading charge.

How HYPE staking changes Hyper liquid fees

HYPE staking selects a discount column that reduces scheduled trading rates across the account. More than 10 HYPE unlocks the Wood discount of 5%; more than 100 HYPE gives Bronze at 10%; more than 1,000 HYPE gives Silver at 15%; and more than 10,000 HYPE gives Gold at 20%.

The upper staking levels are Platinum, which requires more than 100,000 HYPE for a 30% discount, and Diamond, which requires more than 500,000 HYPE for 40%. At volume tier 0, Diamond changes the perpetual taker and maker figures from 0.045% and 0.015% to 0.027% and 0.009%. Its tier-0 spot figures are 0.042% taker and 0.024% maker.

Staking and trading from the same address requires no linking action. A separate staking address can be linked to a trading address, but the link is permanent, gives the staking address control of the trading account, and removes the staking address's own staking-related fee discount. That arrangement is an account-control decision, not merely a cheaper rate.

Maker rebates, referrals, and special quote-asset modifiers

In the usual case, Hyperliquid's maker-rebate ladder turns qualifying maker fees into credits paid directly to the trading wallet. When 14-day weighted maker volume exceeds 0.5%, the maker fee is -0.001%; above 1.5%, it is -0.002%; and above 3.0%, it is -0.003%. A negative fee represents a rebate rather than a charge.

Special asset classifications alter the quote further. A spot pair between two spot quote assets receives 80% lower taker fees, maker rebates, and volume contribution. An aligned quote asset receives 20% lower taker fees, 50% stronger maker rebates, and 20% greater contribution toward volume tiers. Because these modifiers affect different parts of the formula, the account-specific rate shown for the selected market is more useful than applying one blanket discount.

An eligible referral code gives the trader a 4% fee discount over the first 25 million dollars of volume. Referral discounts do not apply to vaults or subaccounts, so moving the same strategy into one of those account types changes the available discount even when the volume tier remains familiar.

HIP-3 deployer charges and builder codes

HIP-3 perpetuals and builder-routed orders can add charges beyond the ordinary Hyperliquid schedule. A HIP-3 deployer can configure an additional fee scale from 0% to 300%, narrowed to 0% through 100% when growth mode is active. If the setting exceeds 100%, the protocol fee also rises until it equals the deployer fee.

Growth mode reduces protocol fees, rebates, fee-tier volume contribution, and Hyperliquid L1 rate-limit contribution by 90% for that HIP-3 market. The lower fee comes with correspondingly lower rebate and tier credit, so it should not be modeled as an unrestricted 90% discount on every economic component.

Builder codes operate per order after the user approves a maximum for a builder address. An added builder fee is capped at 0.1% for perpetuals and 1% for spot, and one user can maintain at most 10 active builder approvals. The builder needs at least 100 USDC of perpetual account value. Builder fees apply to both sides of perpetual trading, but not to the buying side of spot, where the collected asset is not the quote or collateral asset used by this fee mechanism.

Where charges go, and which costs sit outside trading fees

At a protocol level, Hyperliquid trading fees flow through community-facing protocol components, including HLP, the Assistance Fund, and eligible asset deployers. Spot and HIP-3 deployers can retain up to 50% of trading fees generated by their assets. The Assistance Fund converts its collected fees into HYPE through Hyperliquid L1 execution and burns that HYPE.

Perpetual funding is separate from the maker-taker fee and passes directly between long and short positions; the protocol collects no fee from that payment. Funding settles every hour. Its predetermined interest component is 0.00125% per hour, equivalent to 0.01% over 8 hours, while the premium component moves with the perpetual-oracle relationship. The combined funding rate has a 4% hourly cap.

Trading actions on HyperCore carry no gas charge. Depositing native USDC from Arbitrum requires ETH for the Arbitrum transaction, while withdrawing USDC back to Arbitrum deducts a fixed 1 USDC fee and requires no Arbitrum ETH from the user. A new HyperCore destination account also incurs a one-time activation charge of 1 quote token, such as 1 USDC, 1 USDT, or 1 USDH. HyperEVM transactions have their own network-cost model.

Five conditions to resolve before accepting the quote

A Hyperliquid fee decision should reconcile account rate, execution role, market modifier, routing charge, and position duration. The following five checks keep each comparison tied to the order that will actually execute.

• If the order crosses immediately, calculate with the taker rate even when it uses a limit price.
• If volume or HYPE stake recently changed, use the displayed account tier rather than the anticipated next tier.
• If the market is HIP-3, include its deployer setting and any growth-mode adjustment.
• If an external interface uses a builder code, add the approved per-order builder percentage.
• If a perpetual remains open across funding intervals, keep hourly funding separate from opening and closing fees.

Finish by comparing expected proceeds or position value after all named components, not by selecting the lowest isolated percentage. Recalculate the exit independently because its notional, order role, funding balance, and available book depth will differ from entry. This turns Hyper liquid fees into a usable quote comparison rather than a rate copied from the base row.