> ## 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.

# Gas Auctions

> Dutch auction system for asset deployment gas pricing and the live priority fee infrastructure on HyperLiquid.

HyperLiquid uses a Dutch auction mechanism to price gas for deploying new assets. Three separate auction systems exist within the protocol: perp market deployment, spot pair deployment, and the priority fee system (live since April 2026).

## Dutch Auction Mechanism

All gas auctions on HyperLiquid follow a Dutch auction model. The price starts high and decreases linearly over a fixed duration. The first participant willing to pay the current price wins.

```
Price
  |
  |\ 
  | \ 
  |  \
  |   \
  |    \
  |     \  <-- First bidder wins at current price
  |      \
  |_______\___________
  0                   Time
  Start               End
```

Key properties:

* **No floor price** -- auctions can decay all the way to zero if no one bids
* **Automatic restart** -- a new auction begins as soon as the previous one ends
* **Cycle duration** -- each auction lasts 111,600 seconds (31 hours)
* **Linear decay** -- price decreases at a constant rate over the duration

The 31-hour cycle is deliberate. Because it is not a multiple of 24, the auction's cheapest window rotates through different times of day across cycles, preventing any single timezone from consistently getting the best prices.

## Perp Deploy Auction

Deploying a new perpetual market requires winning the perp deploy gas auction.

<ParamField path="perpDeployAuctionStatus" type="object">
  Current state of the perp deployment auction. Query via the `/info` endpoint with `{"type": "perpDeployAuctionStatus"}`.
</ParamField>

Live parameters (observed April 2026):

| Parameter    | Value                 |
| ------------ | --------------------- |
| Start price  | 1,000 gas             |
| Duration     | 31 hours (111,600s)   |
| Decay rate   | \~16 gas/hour         |
| Floor price  | None (decays to zero) |
| Denomination | HYPE                  |

Example API response:

```json theme={null}
{
  "startTimeSeconds": 1775332800,
  "durationSeconds": 111600,
  "startGas": "1000.0",
  "currentGas": "945.47",
  "endGas": null
}
```

At 1,000 HYPE starting price and \~16 gas/hour decay, a deployer waiting 6 hours would pay roughly 904 HYPE. Waiting the full 31 hours approaches zero.

## Spot Pair Deploy Auction

Creating a new spot trading pair has its own separate auction with different pricing.

<ParamField path="spotPairDeployAuctionStatus" type="object">
  Current state of the spot pair deployment auction. Query via the `/info` endpoint with `{"type": "spotPairDeployAuctionStatus"}`.
</ParamField>

Live parameters (observed April 2026):

| Parameter    | Value               |
| ------------ | ------------------- |
| Start price  | 500 gas             |
| Duration     | 31 hours (111,600s) |
| Floor price  | None                |
| Denomination | HYPE                |

```json theme={null}
{
  "startTimeSeconds": 1775332800,
  "durationSeconds": 111600,
  "startGas": "500.0",
  "currentGas": "500.0",
  "endGas": null
}
```

Spot pair deployment starts at half the cost of perp deployment (500 vs 1,000 HYPE), reflecting the lower complexity of spot pairs compared to perpetual markets with funding, margin, and liquidation infrastructure.

<Note>
  A `currentGas` equal to `startGas` indicates the auction just restarted or no time has elapsed in the current cycle.
</Note>

## Priority Fees (Live)

HyperLiquid launched priority fees on mainnet in April 2026. Two mechanisms exist:

### Write Priority (Order Priority Fees)

A fee parameter on IOC orders for HIP-3 assets. Paying HYPE gets your order executed with higher priority.

| Parameter    | Value                      |
| ------------ | -------------------------- |
| Max fee      | 8 bps                      |
| Applies to   | IOC orders on HIP-3 assets |
| Denomination | HYPE                       |

Orders with priority fees carry `builderFee` and `builder` fields in their fill events.

### Read Priority (Gossip Auction)

A Dutch auction system where participants bid for priority data access. 5 slots run 180-second (3 minute) auction cycles.

```json theme={null}
// Query via hypernode REST API
GET /v2/gossip-priority-auction

// Response: [write_slots, read_slots]
[
  [null, null, null, null, null],
  [
    {
      "startTimeSeconds": 1776203460,
      "durationSeconds": 180,
      "startGas": "0.1",
      "currentGas": "0.1",
      "endGas": null
    }
  ]
]
```

| Parameter      | Value                   |
| -------------- | ----------------------- |
| Slots          | 5                       |
| Cycle duration | 180 seconds (3 minutes) |
| Start gas      | 0.1 HYPE                |
| Denomination   | HYPE                    |

### Querying Priority Auction Status

```python theme={null}
import requests

# Via hypernode
resp = requests.get(
    "https://hyper.polynode.dev/v2/gossip-priority-auction",
    headers={"x-api-key": "YOUR_KEY"}
)
print(resp.json())

# Via HyperLiquid directly
resp = requests.post(
    "https://api.hyperliquid.xyz/info",
    json={"type": "gossipPriorityAuctionStatus"}
)
print(resp.json())
```

## Deployer Fee Share

Winning a gas auction and deploying a token also determines the deployer's share of trading fees. Observed values:

| Token Type                       | `deployerTradingFeeShare`        |
| -------------------------------- | -------------------------------- |
| HIP-3 spot tokens                | `1.0` (100% of fees to deployer) |
| HIP-4 prediction market outcomes | `0.0` (0% to deployer)           |

This means spot token deployers currently receive all trading fees generated by their tokens, creating a strong economic incentive to deploy and maintain liquid markets.

## Governance Controls

Gas auction parameters are controlled through validator governance:

| Action                                     | Effect                                |
| ------------------------------------------ | ------------------------------------- |
| `GasAuctionChange::EnableAndRestart`       | Start or restart an auction cycle     |
| `SetGossipPriority::Params`                | Configure priority auction parameters |
| `VoteGlobalAction::DeployGasAuctionChange` | Validator vote on auction changes     |

The decay curve is constrained by an internal assertion (`decay <= 1.0`), ensuring the auction price never increases during a cycle.

## Querying Auction Status

Both active auctions can be queried through the HyperLiquid info API:

```python theme={null}
import requests

# Perp deploy auction
resp = requests.post("https://api.hyperliquid.xyz/info", json={
    "type": "perpDeployAuctionStatus"
})
print(resp.json())

# Spot pair deploy auction
resp = requests.post("https://api.hyperliquid.xyz/info", json={
    "type": "spotPairDeployAuctionStatus"
})
print(resp.json())
```

The response includes `startTimeSeconds`, `durationSeconds`, `startGas`, `currentGas`, and `endGas` for each auction. Use `currentGas` to determine the current deployment cost.