Documentation Index
Fetch the complete documentation index at: https://hypernode-docs.polynode.dev/llms.txt
Use this file to discover all available pages before exploring further.
HyperLiquid’s fee system is one of the most layered in DeFi. Base rates are straightforward, but the effective rate a user pays depends on their 14-day volume, maker fraction, HYPE stake, referral status, and builder configuration. This page covers every component.
Base rates
All fees are expressed in basis points (bps). 1 bps = 0.01%.
“Cross” means taker (crossing the spread). “Add” means maker (adding liquidity to the book).
| Market | Taker (cross) | Maker (add) |
|---|
| Perpetuals | 4.5 bps (0.045%) | 1.5 bps (0.015%) |
| Spot | 7.0 bps (0.070%) | 4.0 bps (0.040%) |
VIP tiers
Volume-based fee reductions. Tier qualification is based on 14-day rolling notional traded volume (NTL). Spot volume may count at 2x toward tier qualification when the weighSpotVolumeDouble flag is active.
| Tier | 14d NTL | Perp Taker | Perp Maker | Spot Taker | Spot Maker |
|---|
| Base | < $5M | 0.0450% | 0.0150% | 0.0700% | 0.0400% |
| VIP 1 | $5M+ | 0.0400% | 0.0120% | 0.0600% | 0.0300% |
| VIP 2 | $25M+ | 0.0350% | 0.0080% | 0.0500% | 0.0200% |
| VIP 3 | $100M+ | 0.0300% | 0.0040% | 0.0400% | 0.0100% |
| VIP 4 | $500M+ | 0.0280% | 0.0000% | 0.0350% | 0.0000% |
| VIP 5 | $2B+ | 0.0260% | 0.0000% | 0.0300% | 0.0000% |
| VIP 6 | $7B+ | 0.0240% | 0.0000% | 0.0250% | 0.0000% |
VIP 4 and above pay zero maker fees on both perps and spot. This is a significant edge for high-volume market makers.
reassessFees action.
Market maker rebates
Separate from VIP tiers, the MM rebate program rewards users who contribute a high fraction of maker (add) volume. Qualification is based on maker fraction — the percentage of your total volume that is maker.
| MM Tier | Maker Fraction | Perp Maker Rate |
|---|
| MM 1 | >= 0.5% | -0.001% (0.1 bps rebate) |
| MM 2 | >= 1.5% | -0.002% (0.2 bps rebate) |
| MM 3 | >= 3.0% | -0.003% (0.3 bps rebate) |
Negative maker rates mean you get paid to provide liquidity. MM rebates stack with VIP tiers. A VIP 3 user with 3%+ maker fraction would receive -0.003% maker instead of paying +0.004%.
HYPE staking discounts
Staking HYPE tokens reduces trading fees. Discount tiers are based on basis points of the max HYPE supply staked:
| BPS of Max Supply | Fee Discount |
|---|
| 0 | 0% (no stake) |
| 0.0001 | 5% |
| 0.001 | 10% |
| 0.01 | 15% |
| 0.1 | 20% |
| 1.0 | 30% |
| 5.0 | 40% (max) |
linkStakingUser action. The per-user API returns stakingLink, activeStakingDiscount, and the full stakingDiscountTiers table.
Referral discount
Users who set a referrer receive a 4% discount on all trading fees.
- Referred users get 4% off their effective rate
- Referrers receive a fraction of that 4% as revenue
- Setting a referrer is a one-time action (
setReferrer)
- Referrer registration uses
RegisterReferrerAction
Staking discounts and referral discounts stack multiplicatively. Maximum combined discount: 4% referral + 40% staking = up to ~42.4% total fee reduction.
Builder fees
Builder fees are additional fees charged on top of protocol fees by frontends, bots, or SDKs that route orders through HyperLiquid.
Key mechanics:
- Users must explicitly approve each builder via
approveBuilderFee
- The builder address and maximum fee capacity are embedded in each order
- Builder fees are collected separately and tracked in
CollectedBuilderFees
- Builders can be any address (frontend operator, bot developer, SDK author)
Builder fees are additive. A user paying 4.5 bps protocol fee plus a 1 bps builder fee pays 5.5 bps total.
Deployer fee share
HIP-3 token deployers earn a share of all trading fees generated by their deployed assets.
| Parameter | Description |
|---|
fee_recipient | Address receiving the deployer’s fee share |
deployer_trading_fee_share | Fraction of trading fees routed to deployer |
deployer_fee_scale | Scale factor controlling fee share magnitude |
last_deployer_fee_scale_change_time. Sub-deployers can also be designated to receive fee shares.
This creates an economic flywheel: deployers are incentivized to create and promote active markets because they earn ongoing revenue from trading activity.
HIP-4 prediction market deployers also earn fee share on outcome token trading. See HIP-4 for deployment details. Fee trials
Fee trials let users temporarily access lower fee tiers without meeting the volume requirements.
| Field | Description |
|---|
trial | Current active trial details (null if none) |
validUntil | Trial expiration timestamp |
feeTrialEscrow | USDC escrowed for the trial period |
nextTrialAvailableTimestamp | Cooldown before next trial is available |
trials_disabled flag.
Fee tier override states
The protocol can override a user’s fee tier in two ways:
| State | Effect |
|---|
Na (default) | Normal fee calculation applies |
UserDisabled | User’s VIP/MM tiers disabled, pays base rate |
ValidatorDisabled | Validator-enforced tier disable, pays base rate |
HIP-4 outcome fees
Prediction market (HIP-4) outcomes use spot fee rails:
- Opening a position is free (no fee on SplitOutcome)
- Closing on the orderbook charges spot taker/maker rates
- Settlement charges fees in the outcome token, not USDC
- A governance hook (
SetOutcomeFeeScale) can adjust outcome fees independently
All discounts (VIP, staking, referral) apply to outcome fees.
Aligned quote token scaling
Different quote tokens can have different fee scales:
| Parameter | Description |
|---|
cross_scale | Multiplier on taker fees for this quote token |
vlm_contribution_scale | How much volume in this token counts toward VIP tier progression |
Querying fees via API
curl -X POST https://api.hyperliquid.xyz/info \
-H "Content-Type: application/json" \
-d '{"type": "userFees", "user": "0xYourAddress"}'
| Field | Description |
|---|
userCrossRate | Effective perp taker rate |
userAddRate | Effective perp maker rate |
userSpotCrossRate | Effective spot taker rate |
userSpotAddRate | Effective spot maker rate |
activeReferralDiscount | Current referral discount (0.0 if no referrer) |
activeStakingDiscount | Current staking tier and discount |
stakingLink | Linked staking address |
dailyUserVlm | 14-day rolling volume breakdown (date, userCross, userAdd, exchange) |
trial | Active fee trial details (null if none) |
feeTrialEscrow | Escrowed USDC for trial |
nextTrialAvailableTimestamp | Next trial availability |
feeSchedule | Full fee schedule with all tiers |
Request weight system
HyperLiquid implements a request weight system that governs API rate limits. Every API request consumes a certain amount of request weight from the user’s allocation.
Expanding request weight
Users can purchase additional request weight through the reserveRequestWeight action at a cost of 0.0005 USDC per request weight unit. This provides a self-service mechanism to scale API access beyond the default allocation.
Rate limit queries
Users can check their current rate limit status via the userRateLimit info endpoint, which returns:
- Current request weight consumption
- Remaining allocation
- Reset timing
Request weight is separate from WebSocket subscription limits. A user on a higher fee tier automatically receives higher default request weight allocations.
Fee schedule internals
The protocol maintains a FeeSchedule structure that encapsulates all fee configuration:
FeeSchedule:
base_rates — perp and spot base taker/maker rates
vip_tiers — volume-based tier thresholds and rates
mm_rebate_tiers — market maker rebate tiers
stake_discounts — HYPE staking discount tiers
referral_discount — flat referral discount rate
builder_fee_caps — maximum builder fees (perp and spot)
Fee trials
Fee trials allow users to temporarily test a lower fee tier:
- User initiates via
startFeeTrial action
- An escrow is placed for the trial period
- During the trial, the user pays the lower tier’s rates
- After the trial ends, the escrow is returned and fees revert
- A cooldown period prevents immediate re-trials
Fee reassessment
The reassessFees action triggers a recalculation of a user’s fee tier based on their current 14-day rolling volume. This is useful after large trading periods to ensure the correct tier is applied without waiting for the automatic reassessment cycle.
Override states
Fee tiers can be overridden through several mechanisms:
| Override | Description |
|---|
| VIP tier | Automatic based on 14-day volume |
| Market maker | Applied based on maker fraction qualification |
| Staking discount | Multiplicative with other discounts |
| Referral discount | Flat 4%, multiplicative with staking |
| Builder fee | Additive, set per-order by builder |
| Fee trial | Temporary tier override during trial period |