# 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) --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://hyperliquid-co.gitbook.io/wiki/architecture/hypercore/dex/clearinghouse/fees-builder-codes.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.