Hyperliquid Fees Explained (2026): Maker/Taker Breakdown
Hyperliquid charges 0.045% taker / 0.015% maker on perpetual futures and 0.070% taker / 0.040% maker on spot trades. Those are the base rates a fresh account pays before any volume-tier discount or HYPE staking reduction is applied. This page breaks down how the tiers work, what staking HYPE does to your rate, how funding is charged separately from trading fees, and what you don't pay at all.
Rates verified against the official Hyperliquid fee schedule on 2026-07-16.
Base rates
These flat rates apply to any account with no trailing volume history and no HYPE staked. Every discount described below is subtracted from these numbers, not from some other published "list price."
| Market | Taker | Maker |
|---|---|---|
| Perpetuals | 0.045% | 0.015% |
| Spot | 0.070% | 0.040% |
Volume tiers
Hyperliquid groups accounts into seven tiers, numbered 0 through 6, based on trailing 14-day weighted trading volume. Higher tiers pay lower taker and maker fees on both perp and spot markets.
| Tier | 14-day weighted volume | Perp taker | Perp maker | Spot taker | Spot maker |
|---|---|---|---|---|---|
| 0 | Base (no minimum) | 0.045% | 0.015% | 0.070% | 0.040% |
| 1 | >$5M | — | — | — | — |
| 2 | >$25M | — | — | — | — |
| 3 | >$100M | — | — | — | — |
| 4 | >$500M | — | — | — | — |
| 5 | >$2B | — | — | — | — |
| 6 | >$7B | 0.024% | — | 0.025% | — |
Only the Tier 0 and Tier 6 rates above are independently verified against Hyperliquid's published schedule. Rates decrease stepwise across Tiers 1 through 5 between those two endpoints; we haven't listed intermediate figures because we can't confirm them independently. For the exact rate at every tier, check Hyperliquid's own fee schedule, since it can change without notice.
Spot volume counts double toward tier qualification. Your 14-day weighted volume is calculated as perps volume plus two times spot volume, so trading spot markets is a faster way to climb the tier ladder than perps volume alone.
HYPE staking discounts
Staking HYPE, Hyperliquid's native token, applies a percentage discount on top of whatever rate your volume tier already qualifies you for. The discount scales with the amount staked, across six named tiers:
| Tier | HYPE staked | Discount |
|---|---|---|
| Wood | >10 HYPE | 5% |
| Bronze | >100 HYPE | 10% |
| Silver | >1,000 HYPE | 15% |
| Gold | >10,000 HYPE | 20% |
| Platinum | >100,000 HYPE | 30% |
| Diamond | >500,000 HYPE | 40% |
Staking and volume tiers are separate mechanisms that stack: the staking discount reduces your tier rate, it doesn't replace it.
Funding rates
Perpetual positions also carry hourly funding payments, which are separate from the maker/taker fees above. Funding on Hyperliquid is purely peer-to-peer — it's paid directly between long and short position holders, and the exchange collects nothing from it. Funding has two components: a variable premium reflecting the gap between the perp price and the underlying spot price, and an interest-rate component predetermined at 0.01% per 8 hours. Because funding settles hourly and scales with position size, it can outweigh the trading fee for anyone holding a leveraged position open for more than a few hours. Leverage magnifies both funding cost and liquidation risk — see our risk disclosure before sizing a leveraged position.
What you don't pay
There's no separate gas fee charged per trade — Hyperliquid runs its own L1, and the trading fee is the only cost attached to each fill. At higher volume or staking tiers, maker orders don't just avoid a fee; they earn a rebate, paid continuously to the trading wallet that posted the order rather than credited as a one-time bonus.
How to pay less
Two adjustments lower your effective rate without waiting to climb the volume tiers organically: staking HYPE per the table above, and trading through a referral link, which applies a 4% discount on fees for your first $25M of trading volume. See our Hyperliquid referral page for details.
FAQ
Does Hyperliquid charge gas fees on top of trading fees?
No. The maker/taker rates above are the entire cost of a fill; there's no separate
per-trade gas charge.
How is my 14-day weighted volume calculated for tier purposes?
Perpetuals volume plus two times spot volume, measured on a trailing 14-day basis.
Does Hyperliquid keep any part of the funding rate?
No. Funding is paid directly between long and short holders; the exchange doesn't take a
cut.
Can I combine the HYPE staking discount with the referral discount?
They are separate programs and both can be active on an account — Hyperliquid's referral
terms explicitly account for referred users who also hold other fee discounts. The referral
discount runs for your first $25M in volume; staking discounts depend on staked HYPE.
For a broader look at the exchange beyond fees, see our Hyperliquid overview.
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