Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.
Hyperliquid Referral Code: How the 4% Fee Discount Works
Hyperliquid runs a standard referral program: anyone who joins through a referral link or enters a referral code gets a 4% discount on trading fees. This page lays out exactly how that discount works, how to activate it, and how the referral relationship works on our side too. Program terms below were checked against Hyperliquid's official documentation on 2026-07-16.
What the referral discount is
Accounts with an active referral relationship receive a 4% discount on their trading fees, applied automatically — there's no rebate to claim and no separate step after the trade. It applies to the first $25M in cumulative trading volume on that account. Once volume crosses that threshold, the discount stops and fees revert to Hyperliquid's standard fee schedule for the account's volume tier.
How to activate it
There are two ways to attach a referral relationship to a Hyperliquid account:
- Click a referral (join) link and complete account setup through it.
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Or enter a referral code manually on the Referrals page at
app.hyperliquid.xyz/referrals.
One scope limit worth knowing: the discount does not apply to vaults or sub-accounts. Hyperliquid treats those as independent accounts, and referral discounts don't extend to them.
Our own referral code is currently being set up. The program terms described above apply to any valid Hyperliquid referral link.
Using a referral link earns this site a share of trading fees, at no cost to you — it reduces your fees instead. See our methodology for how we handle affiliate relationships.
How the referral program works on both sides
The referral program is two-sided, and we'd rather be plain about our side of it than leave it implicit. When a referred account trades, Hyperliquid pays the referrer 10% of that account's trading fees, calculated after the referred trader's discounts have already been subtracted — so the split is on the discounted fee, not the standard one. That 10% share applies to the referred account's first $1B in cumulative trading volume. PerpDEX Guide participates in this program: if you activate the Hyperliquid discount through a link on this page, we receive that referral share. Nothing about your fees, execution, or account changes as a result — the 4% discount is identical whether you arrive through a referral link or type a code in manually.
FAQ
Does the discount cost me anything?
No. The 4% discount doesn't cost the trader anything and doesn't add any fee on top. It's funded out of the referrer's 10% share, not out of the trader's side of the transaction.
When does the discount stop applying?
It applies to the referred account's first $25M in cumulative trading volume. The cap is defined in volume, not time — a low-activity account keeps the discount for longer in calendar time than a high-volume one. Once the account crosses $25M in volume, fees return to the standard schedule.
Can it be combined with HYPE staking discounts?
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. Staking discounts are worth 5% to 40% off trading fees depending on how much HYPE is staked; see our Hyperliquid fees breakdown for the full staking tier structure.
Does the referral discount apply to vaults and sub-accounts?
No. Hyperliquid treats vaults and sub-accounts as independent accounts, and referral discounts don't apply to them.
Trading perpetual futures involves leverage: your entire margin can be lost quickly. Read our full risk disclosure before trading, and see our Hyperliquid overview for the exchange itself.