Hyperliquid Fee Structure at a Glance
- Perp taker fees: 0.045% down to 0.024% (base rates by volume tier, Tier 0-6)
- Perp maker fees: 0.015% down to 0%, with negative rebates up to −0.003% for top market makers
- Spot fees: 0.07% taker / 0.04% maker at base rates, with lower rates for aligned and stable pairs
- Funding: paid hourly, peer-to-peer between longs and shorts, capped at 4% per hour
- Withdrawals: a flat 1 USDC fee (2% drag at $50, 0.02% drag at $5,000); deposits are free
- Staking discounts: 5%-40% off trading fees for staking 10 to 500,000+ HYPE
How are Hyperliquid fee tiers calculated and when do they update?
Your tier is based on rolling 14-day weighted volume and is reassessed at the end of every day in UTC. Spot volume counts double toward the threshold, and every product type-validator perps, HIP-3 perps, and spot, shares a single fee tier per account. The weighted formula is:
14d weighted volume = 14d perps volume + 2 × 14d spot volume.
- Daily refresh: tier changes take effect at 00:00 UTC based on the trailing 14 days
- Sub-accounts: all sub-account volume aggregates to the master account, which shares one tier across every sub-account
- Vaults: vault volume is tracked separately and does not lift your personal tier
- One-time limits: referral discounts apply to your first $25M in volume; referral rewards apply to your first $1B
How much do perpetual futures trades cost on Hyperliquid?
Perp trading costs a taker or maker fee charged on the full notional value of the order (leverage included). At the base tier, takers pay 0.045% and makers pay 0.015%. Here is the complete official tier schedule:
| Volume Threshold (14d weighted) | Taker (Base) | Maker (Base) | Taker (Diamond) | Maker (Diamond) |
|---|---|---|---|---|
| Tier 0 (under $5M) | 0.045% | 0.015% | 0.0270% | 0.0090% |
| Tier 1 (> $5M) | 0.040% | 0.012% | 0.0240% | 0.0072% |
| Tier 2 (> $25M) | 0.035% | 0.008% | 0.0210% | 0.0048% |
| Tier 3 (> $100M) | 0.030% | 0.004% | 0.0180% | 0.0024% |
| Tier 4 (> $500M) | 0.028% | 0% | 0.0168% | 0% |
| Tier 5 (> $2B) | 0.026% | 0% | 0.0156% | 0% |
| Tier 6 (> $7B) | 0.024% | 0% | 0.0144% | 0% |
Diamond rates shown above apply when a trader holds the Diamond staking tier (>500,000 HYPE, 40% discount). Every other staking level gets its own discounted column in the official schedule (Bronze, Silver, Gold, Platinum, Wood).
How do negative maker fees work for market makers?
High-volume makers don't just pay zero, they get paid. Makers whose 14-day weighted share of market maker volume crosses set thresholds earn negative maker fees credited directly to their trading wallet on every fill, and the rebates flow continuously rather than requiring a claim. There is no separate designated market maker (DMM) program, special rebates, or latency advantages; the volume tables are the entire system.
| 14d Weighted Maker Volume Share | Maker Fee | On a $10,000 fill |
|---|---|---|
| > 0.5% | −0.001% | $0.10 credited |
| > 1.5% | −0.002% | $0.20 credited |
| > 3.0% | −0.003% | $0.30 credited |
How much does spot trading cost, and what do aligned quote assets change?
Spot base rates are 0.07% taker / 0.04% maker at Tier 0 higher than perps, but with their own discounts. Spot volume also counts double toward your fee tier, which is how many traders climb tiers faster.
| Spot Pair Type | Taker (Tier 0) | Maker (Tier 0) | Volume Contribution |
|---|---|---|---|
| Standard pair (e.g., SOL-USDC) | 0.070% | 0.040% | 200% (2× multiplier) |
| Aligned quote asset pair | 0.056% (−20%) | 0.032% (−20%) | 240% (+20% bonus) |
| Two-spot-quote-asset pair | 0.014% (−80%) | 0.008% (−80%) | 40% (−80% reduction) |
For the full spot schedule, base Tier 0 runs 0.070% taker / 0.040% maker, compressing to 0.025% taker / 0% maker at Tier 6.
How does the hourly funding rate actually get calculated?
Funding is the carry cost of holding a perpetual (a peer-to-peer payment) from one side to the other with no fee taken by the protocol. Hyperliquid settles it every hour (CEXs typically use 8-hour windows), sampling order-book depth every 5 seconds and averaging over the hour.
- Formula: Funding rate = Average Premium Index + clamp(interest rate − Premium Index, -0.05%, +0.05%), computed as an 8-hour rate and paid hourly at one-eighth
- Interest component: fixed at 0.01% per 8 hours (about 0.00125% per hour, roughly 11% APR flowing to shorts)
- Premium component: tracks the gap between the perp price and the validator oracle price; if the perp trades above spot, longs pay shorts, and vice versa
- Cap: 4% per hour, far more permissive than CEX caps
-
Payment math:
position size × oracle price × funding rate, added or subtracted at each hourly mark
In concrete terms, a $1M notional long with a 0.02%/hour rate (premium plus interest) pays $200 per hour and $4,800 per day if that rate persisted which is exactly why funding drag dominates the cost of crowded, leveraged swing trades.
What does it cost to deposit and withdraw on Hyperliquid?
Deposits are free of Hyperliquid fees; you only pay gas on the source chain (Arbitrum gas if bridging USDC, native gas on Bitcoin/Solana/Ethereum for direct asset deposits). Note the minimum: deposits under 5 USDC are not credited and are lost permanently.
Withdrawals carry a flat 1 USDC fee charged on Hyperliquid to cover the Arbitrum gas costs paid by validators. No Arbitrum transaction is needed from your wallet — you sign on Hyperliquid and funds typically arrive in 3–5 minutes.
| Withdrawal Amount | Flat Fee | Effective Fee Drag |
|---|---|---|
| $50 | 1 USDC | 2.00% |
| $500 | 1 USDC | 0.20% |
| $5,000 | 1 USDC | 0.02% |
| $50,000 | 1 USDC | 0.002% |
Here's the catch: the flat fee punishes micro-withdrawals. Withdrawing $50 costs 2% more than most perp trades. Batch withdrawals or keep a working balance on-platform instead of pulling out after every session.
Frequently Asked Questions (FAQs)
Q1: Does Hyperliquid charge gas fees when I trade perps?
A: No. Trading on HyperCore is gas-free after account activation; gas applies only on the source chain for deposits and on HyperEVM contract interactions (paid in HYPE).
Q2: What is the taker fee for a small perp trader on Hyperliquid?
A: 0.045% of notional at the base tier, falling to 0.024% at the highest volume tier, with staking discounts of 5-40% applied on top.
Q3: How often is funding paid on Hyperliquid perpetuals?
A: Every hour, at one-eighth of the computed 8-hour rate (0.01% interest plus a 5-second-sampled premium), capped at 4% per hour and paid peer-to-peer between longs and shorts.
Q4: Can I earn money as a market maker on Hyperliquid?
A: Yes — makers whose volume share exceeds 0.5%, 1.5%, or 3.0% of market maker volume earn rebates up to −0.003% per fill with no DMM program, special terms, or latency advantages.
Disclaimer: This content is for informational purposes only and does not constitute financial or trading advice. Fee structures and platform rules may change over time; always verify current rates on the official Hyperliquid platform before trading.
