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.
Fee Structure Overview
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
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
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 $1B in volume
Discounts don't apply to vaults or sub-accounts
Builder Codes: Staking referral program also applies to builder codes (more info on this page). Builders receive builder fee + up to 40% of HL fees and can share up to 50% of these fees with users
Fee Assessment: Calculated at end of each day in UTC
Fee Distribution & Sources
On Hyperliquid, fees are entirely directed to the community through HLP, the Assistance Fund, and spot/perp deployers rather than being extracted by the protocol team.
Current Fee Allocation:
7% of fees → HLP vault
93% of fees → Assistance Fund
Fee Tracking: Direct fee visibility is limited - estimates based on trading volume. Analytics: HyperDash | HypurrScan
Fee Sources:
Perpetual trading:
Hyperliquid Labs perps: All fees go to protocol
HIP-3 perps: Up to 50% of fees go to deployer, remainder to protocol
Spot trading:
USDC side (bid): Fees go to protocol
Token side (ask): Deployer controls what percentage of fees they collect (0-100%)
If 100% → All fees go to deployer's address
If 0% → All fees are burned
Deployers can only decrease their share permanently
Tokens deployed before January 2025 have all fees burned (including HYPE)
To check a token's fee share: Call API
spotMetaAndAssetCtxs→deployerTradingFeeShare
Spot deployment: Auction fees paid by deployers to purchase tickers
Future: HyperEVM fees may be distributed to HYPE stakers
Fee Tiers
You can view your current fee tier on your portfolio page which includes an integrated fee schedule calculator.
Staking Tiers
Wood
>10
5%
Bronze
>100
10%
Silver
>1,000
15%
Gold
>10,000
20%
Platinum
>100,000
30%
Diamond
>500,000
40%
Fee Schedule (VIP + Staking Tiers)
Tier
14d Weighted Volume ($)
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%
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 | #api-traders Discord.
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
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)
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
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 →
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 → and Explore the technical Implementation guide →
Resources
Official documentation on Fees, Referrals and Builder Codes.
Fee Calculator: You can determine the number of fees you pay in different situations. @0xHyperBeat
Fee Comparison Sheet - Hyperliquid vs major exchanges (Bybit, Binance, OKX, Coinbase) showing 10x-25x savings
Jeff's Vision for Builder Codes - 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
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