> For the complete documentation index, see [llms.txt](https://hyperliquid-co.gitbook.io/wiki/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hyperliquid-co.gitbook.io/wiki/architecture/hypercore/dex/clearinghouse/fees-builder-codes.md). # Fees - Builder Codes Hyperliquid's fee system is designed to reward active users, builders, and the broader community. By leveraging volume-based discounts, staking incentives, and referral programs, the platform ensures that participation benefits users while funding the ecosystem's development.

Standard Referral Program

### Fee Structure Overview | Category | Method | Benefit | Details | | ---------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | --------------------------------------------------------------------------------------- | | **User Fee Reduction** | [VIP Tiers](/wiki/architecture/hypercore/dex/clearinghouse/fees-builder-codes.md#fee-schedule-vip--staking-tiers) (Volume-Based) | Up to 47% discount | Based on rolling 14-day weighted volume | | | Staking Tiers | Up to 40% discount | Based on HYPE tokens staked | | | Referral Discount | 4% discount | For first $25M volume when using referral code | | **User Fee Rewards** | Referral Rewards | 10% of referred users' fees | For first $1B volume of referred users | | | [Staking Referral Program](/wiki/architecture/hypercore/dex/clearinghouse/fees-builder-codes.md#staking-referral-program) | 40% to 100% of fees difference | *Coming soon* - Enhanced rewards for staking referrers (depends on referred user's VIP) | | | Staking Referral Sharing | Up to 50% revenue sharing | *Coming soon* - Can share staking referral revenue with referred users | | | Builder Codes | 100% custom fee + 40% to 100% | Builder fee + staking referral rewards if staking HYPE | | | Maker Rebates | Up to -0.003% rebate | Continuous rebates for market makers | | **Community Benefits** | [HLP Vault](https://hyperliquid-co.gitbook.io/wiki/architecture/hypercore/dex/clearinghouse/pages/EFLRWYJZNs6DVfSGkh7E#id-1.-protocol-vaults-hyperliquidity-provider-hlp) | Liquidity incentives | Fees fund liquidity provision rewards | | | Assurance Fund | fees reinvested | Ecosystem protection and HYPE buybacks | **Please note:** * **Volume Calculation:** Fees based on rolling 14-day weighted volume: `(14d perps volume) + 2 × (14d spot volume)` * **Spot volume counts double** toward fee tier calculation * **Sub-Accounts:** Volume from sub-accounts counts toward master account's fee tier—all sub-accounts share the same tier * **Vault Volume:** Vault transactions treated separately from master account * **Referral Limits:** * Referral discounts apply for first $25M in volume * Referral rewards apply for first $1B in volume * Discounts don't apply to vaults or sub-accounts * **Builder Codes:** Staking referral program also applies to builder codes (more info on this [page](/wiki/guide/builder-guide/hypercore.md)). Builders receive builder fee + up to 40% of HL fees and can share up to 50% of these fees with users * **Fee Assessment:** Calculated at end of each day in UTC *** ### **Fee Distribution & Sources** On Hyperliquid, **fees are entirely directed to the community** through HLP, the Assistance Fund, and spot/perp deployers rather than being extracted by the protocol team. **Current Fee Allocation:** * **7% of fees** → HLP vault * **93% of fees** → Assistance Fund * **Fee Tracking:** Direct fee visibility is limited - estimates based on trading volume. Analytics: [HyperDash](https://hyperdash.info/statistics) | [HypurrScan](https://hypurrscan.io/dashboard) **Fee Sources:** * **Perpetual trading:** * **Hyperliquid Labs perps:** All fees go to protocol * **HIP-3 perps:** Up to 50% of fees go to deployer, remainder to protocol * **Spot trading:** * **USDC side (bid):** Fees go to protocol * **Token side (ask):** Deployer controls what percentage of fees they collect (0-100%) * If 100% → All fees go to deployer's address * If 0% → All fees are burned * Deployers can only decrease their share permanently * Tokens deployed before January 2025 have all fees burned (including [HYPE](https://data.asxn.xyz/dashboard/hype-burn)) * To check a token's fee share: Call API `spotMetaAndAssetCtxs` → `deployerTradingFeeShare` * **Spot deployment:** [Auction fees](/wiki/architecture/hypercore/hips/spot-deployments-hip-1-hip-2.md#what-is-hip-1) paid by deployers to purchase tickers * **Future:** HyperEVM fees may be distributed to HYPE stakers *** ### Fee Tiers You can view your current fee tier on your [portfolio page](https://app.hyperliquid.xyz/portfolio) which includes an integrated fee schedule calculator. #### Staking Tiers | Tier | HYPE Staked | Trading Fee Discount | | -------- | ----------- | -------------------- | | Wood | >10 | 5% | | Bronze | >100 | 10% | | Silver | >1,000 | 15% | | Gold | >10,000 | 20% | | Platinum | >100,000 | 30% | | Diamond | >500,000 | 40% | #### Fee Schedule (VIP + **Staking Tiers)** | Perp | VIP | Base Rate | Diamond | Platinum | Gold | Silver | Bronze | Wood | | ----- | ----------------------- | --------------- | ----------------- | ----------------- | ----------------- | ----------------- | ----------------- | ----------------- | | Tier | 14d Weighted Volume ($) | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | | **0** | | 0.045% / 0.015% | 0.0270% / 0.0090% | 0.0315% / 0.0105% | 0.0360% / 0.0120% | 0.0383% / 0.0128% | 0.0405% / 0.0135% | 0.0428% / 0.0143% | | **1** | >5M | 0.040% / 0.012% | 0.0240% / 0.0072% | 0.0280% / 0.0084% | 0.0320% / 0.0096% | 0.0340% / 0.0102% | 0.0360% / 0.0108% | 0.0380% / 0.0114% | | **2** | >25M | 0.035% / 0.008% | 0.0210% / 0.0048% | 0.0245% / 0.0056% | 0.0280% / 0.0064% | 0.0298% / 0.0068% | 0.0315% / 0.0072% | 0.0333% / 0.0076% | | **3** | >100M | 0.030% / 0.004% | 0.0180% / 0.0024% | 0.0210% / 0.0028% | 0.0240% / 0.0032% | 0.0255% / 0.0034% | 0.0270% / 0.0036% | 0.0285% / 0.0038% | | **4** | >500M | 0.028% / 0.000% | 0.0168% / 0.0000% | 0.0196% / 0.0000% | 0.0224% / 0.0000% | 0.0238% / 0.0000% | 0.0252% / 0.0000% | 0.0266% / 0.0000% | | **5** | >2B | 0.026% / 0.000% | 0.0156% / 0.0000% | 0.0182% / 0.0000% | 0.0208% / 0.0000% | 0.0221% / 0.0000% | 0.0234% / 0.0000% | 0.0247% / 0.0000% | | **6** | >7B | 0.024% / 0.000% | 0.0144% / 0.0000% | 0.0168% / 0.0000% | 0.0192% / 0.0000% | 0.0204% / 0.0000% | 0.0216% / 0.0000% | 0.0228% / 0.0000% | | Spot | VIP | Base Rate | Diamond | Platinum | Gold | Silver | Bronze | Wood | | ----- | ----------------------- | --------------- | ----------------- | ----------------- | ----------------- | ----------------- | ----------------- | ----------------- | | Tier | 14d Weighted Volume ($) | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | Taker/Maker | | **0** | | 0.070% / 0.040% | 0.0420% / 0.0240% | 0.0490% / 0.0280% | 0.0560% / 0.0320% | 0.0595% / 0.0340% | 0.0630% / 0.0360% | 0.0665% / 0.0380% | | **1** | >5M | 0.060% / 0.030% | 0.0360% / 0.0180% | 0.0420% / 0.0210% | 0.0480% / 0.0240% | 0.0510% / 0.0255% | 0.0540% / 0.0270% | 0.0570% / 0.0285% | | **2** | >25M | 0.050% / 0.020% | 0.0300% / 0.0120% | 0.0350% / 0.0140% | 0.0400% / 0.0160% | 0.0425% / 0.0170% | 0.0450% / 0.0180% | 0.0475% / 0.0190% | | **3** | >100M | 0.040% / 0.010% | 0.0240% / 0.0060% | 0.0280% / 0.0070% | 0.0320% / 0.0080% | 0.0340% / 0.0085% | 0.0360% / 0.0090% | 0.0380% / 0.0095% | | **4** | >500M | 0.035% / 0.000% | 0.0210% / 0.0000% | 0.0245% / 0.0000% | 0.0280% / 0.0000% | 0.0298% / 0.0000% | 0.0315% / 0.0000% | 0.0333% / 0.0000% | | **5** | >2B | 0.030% / 0.000% | 0.0180% / 0.0000% | 0.0210% / 0.0000% | 0.0240% / 0.0000% | 0.0255% / 0.0000% | 0.0270% / 0.0000% | 0.0285% / 0.0000% | | **6** | >7B | 0.025% / 0.000% | 0.0150% / 0.0000% | 0.0175% / 0.0000% | 0.0200% / 0.0000% | 0.0213% / 0.0000% | 0.0225% / 0.0000% | 0.0238% / 0.0000% | #### Market Maker Tiers Market makers benefit from lower fees through a dedicated tier system that rewards high liquidity providers. Hyperliquid offers no special programs or rebates, **anyone can participate**. Tools and support: [Python SDK](https://github.com/hyperliquid-dex/hyperliquid-python-sdk) | [#api-traders Discord](https://discord.gg/hyperliquid). | Tier | 14d Weighted Maker Volume | Maker Fee Rebate | | ---- | ------------------------- | ---------------- | | 1 | >0.5% | -0.001% | | 2 | >1.5% | -0.002% | | 3 | >3.0% | -0.003% | *** ### Referral Program #### Standard Referral Program **How to Refer:** * Complete $10,000 in trading volume to create your referral code at [Hyperliquid Referrals](https://app.hyperliquid.xyz/referrals) * Share your unique link: `https://app.hyperliquid.xyz/join/YOURCODE` **Benefits:** * **Referrers Earn:** 10% of referred users' fees (for first $1B volume) * **Referred Users Get:** 4% fee discount (for first $25M volume) #### Staking Referral Program *Coming soon* - The staking referral program allows builders and referrers who stake HYPE to earn enhanced rewards based on the **difference between their staking tier discount and their referred user's discount**. **Key Mechanism:** * If a referrer has a higher staking tier than their referred user, they can keep a percentage of the staking discount difference * The percentage kept decreases as the referred user's VIP tier increases (higher VIP = lower earnings for referrer) | VIP Tier | 14d Weighted Volume ($) | Amount Kept by Referrer | | -------- | ----------------------- | ----------------------- | | **0** | | 100% | | **1** | >5M | 90% | | **2** | >25M | 80% | | **3** | >100M | 70% | | **4** | >500M | 60% | | **5** | >2B | 50% | | **6** | >7B | 40% | **Example:** Alice stakes 100K HYPE (Platinum tier = 30% discount) and refers Bob who stakes 100 HYPE (Bronze tier = 10% discount). Bob is VIP 1 (90% rate). * **Staking discount difference:** 30% - 10% = 20% * **Alice keeps:** 20% × 90% = 18% of Bob's fees * **Alice can share back:** Up to 50% of her 18% = 9% discount for Bob * **Result:** Bob gets up to 9% additional discount using Alice's referral code

Staking Referral Program

*** ## Builder Codes **Builder codes** enable developers to earn **custom fees** from trades executed through their applications. This **permissionless monetization system** allows builders to focus on user experience while generating sustainable revenue.
#### **What Are Builder Codes** * **No liquidity bootstrapping** - instant access to deep orderbooks * **User-controlled permissions** - traders approve maximum fees and can revoke anytime * **Fully onchain processing** - integrated into Hyperliquid's native fee logic * **No technical complexity** - focus on UX, not blockchain infrastructure * **Sustainable revenue model** - earn proportional to value provided **Fee Limits:** * **Perpetuals:** Up to **0.1%** additional fee * **Spot Trading:** Up to **1%** additional fee * Only applies to **USDC-collected fees** #### **How It Works** **Builder Setup:** * Maintain **minimum 100 USDC** in perps account value * Implement builder fee parameter in order logic: `{"b": address, "f": number}` **User Experience:** * User approves **maximum builder fee** via signed transaction (main wallet required) * Future trades through builder app automatically include approved fee * **Full transparency** - all fees visible onchain **Revenue Collection:** * Builder fees collected automatically with each trade * Claim fees through standard **referral reward system** * Real-time tracking via API queries #### **Success Examples** Early builders are already generating significant revenue from builder codes. **Top performers** have earned millions in fees by providing value-added trading experiences. [View current HyperCore projects and earnings →](/wiki/ecosystem/projects/hypercore.md) #### **Builder Opportunities** The builder codes ecosystem creates opportunities across multiple categories: * **Social Trading Platforms** - copy-trading and community-driven strategies * **Mobile-First Applications** - streamlined interfaces for new users * **AI-Powered Trading Tools** - intelligent automation and strategy execution * **Regional Solutions** - localized access and language support [Explore more builder opportunities →](/wiki/ecosystem/projects.md#why-build-on-hyperliquid) and [Explore the technical Implementation guide →](/wiki/guide/builder-guide/hypercore/builder-codes.md) *** ## Resources * Official documentation on [Fees](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees), [Referrals](https://hyperliquid.gitbook.io/hyperliquid-docs/referrals) and [Builder Codes](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/builder-codes). * [Fee Calculator](https://app.hyperbeat.org/dapp/calculator): You can determine the number of fees you pay in different situations. [@0xHyperBeat](https://x.com/0xHyperBeat/status/1902396341520675060) * [Fee Comparison Sheet](https://x.com/smartestmoney_/status/1890981680724525464) - Hyperliquid vs major exchanges (Bybit, Binance, OKX, Coinbase) showing 10x-25x savings * [Understanding HyperCore and Builder Codes](https://x.com/xulian_hl/status/1910188302579458173) by Xulian * [Jeff's Vision for Builder Codes](https://x.com/stevenyuntcap/status/1942969648527667325) - how builder codes will onboard the next wave of users to crypto * "Builders are incentivized to stake 500k HYPE so that they charge their users the lowest fees possible" - [steven.hl](https://x.com/stevenyuntcap/status/1922258987967512732)