effective rate = volume-tier rate × (1 - staking discount) × (1 - referral discount)
The documented feeRates function applies the referral discount to the maker and taker rates supplied by the userFees endpoint. If you are calculating manually from the published fee tables, start with the volume-tier rate, apply the staking-tier discount, then apply the referral discount. If the rate you are using already reflects staking, do not apply the staking discount again.
This article contains a Hyperliquid referral link. If you sign up through this Hyperliquid referral link, you may receive a 4% fee discount on the first $25M of volume; vaults and sub-accounts are excluded. The site may earn a referral reward.
How volume tier, staking tier, and referral discount combine
Hyperliquid fees are based on rolling 14-day volume and are assessed at the end of each day in UTC. Perps and spot volume are counted together to determine one fee tier across all assets, with spot volume counted double:
14d weighted volume = 14d perps volume + 2 × 14d spot volume
Sub-account volume counts toward the master account, and all sub-accounts share the same fee tier. Vault volume is treated separately from the master account.
Staking tiers reduce the applicable trading fee rate. The Hyperliquid Fees docs list the staking thresholds and discounts:
| Staking 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% |
Base fee tables for manual calculation
The tables below show the base rates before staking and referral discounts. The docs also show staking-adjusted columns for Wood, Bronze, Silver, Gold, Platinum, and Diamond.
Perps base rates
| Tier | 14d weighted volume | Taker | Maker |
|---|---|---|---|
| 0 | — | 0.045% | 0.015% |
| 1 | >$5M | 0.040% | 0.012% |
| 2 | >$25M | 0.035% | 0.008% |
| 3 | >$100M | 0.030% | 0.004% |
| 4 | >$500M | 0.028% | 0.000% |
| 5 | >$2B | 0.026% | 0.000% |
| 6 | >$7B | 0.024% | 0.000% |
Spot base rates
| Tier | 14d weighted volume | Taker | Maker |
|---|---|---|---|
| 0 | — | 0.070% | 0.040% |
| 1 | >$5M | 0.060% | 0.030% |
| 2 | >$25M | 0.050% | 0.020% |
| 3 | >$100M | 0.040% | 0.010% |
| 4 | >$500M | 0.035% | 0.000% |
| 5 | >$2B | 0.030% | 0.000% |
| 6 | >$7B | 0.025% | 0.000% |
Step-by-step calculator
- Choose the market type: perps or spot.
- Calculate your 14-day weighted volume:
perps volume + 2 × spot volume. - Select the matching volume tier.
- Apply your staking-tier discount, or use the staking column in the docs' fee table.
- Apply the active referral discount to the resulting positive maker or taker rate.
- Apply any additional market-specific multiplier if relevant, such as stable-pair or aligned-quote-asset adjustments.
effective rate = base volume-tier rate × (1 - staking discount) × (1 - referral discount)
For example, with a 4% referral discount:
effective rate = staking-adjusted rate × 0.96
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Worked examples
Example 1: Tier 0 perps, Diamond staking, 4% referral discount
Start with Tier 0 perps base rates:
- Taker: 0.045%
- Maker: 0.015%
- Taker:
0.045% × 0.60 = 0.0270% - Maker:
0.015% × 0.60 = 0.0090%
- Taker:
0.0270% × 0.96 = 0.02592% - Maker:
0.0090% × 0.96 = 0.00864%
Example 2: Tier 2 spot, Silver staking, 4% referral discount
Start with Tier 2 spot base rates:
- Taker: 0.050%
- Maker: 0.020%
- Taker:
0.050% × 0.85 = 0.0425% - Maker:
0.020% × 0.85 = 0.0170%
- Taker:
0.0425% × 0.96 = 0.0408% - Maker:
0.0170% × 0.96 = 0.01632%
feeRates function does not apply the referral discount to increase the rebate.
How the documented feeRates function treats these inputs
The fee formula for developers takes the maker and taker rates from the userFees endpoint, the active referral discount, and market arguments. In simplified form:
taker = takerRate × 100 × stablePairScale × hip3Scale × growthModeScale × (1 - referralDiscount)
maker = makerRate × 100 × stablePairScale × growthModeScale
if maker > 0:
maker = maker × hip3Scale × (1 - referralDiscount)
else:
maker = maker × alignedQuoteRebateScale
Key implications:
- Referral discount is applied to positive maker fees and taker fees.
- Referral discount is not applied to maker rebates.
- Stable-pair, aligned-quote-asset, HIP-3, and growth-mode multipliers can change the final rate.
- The calculation above isolates volume tier, staking tier, and referral discount.
Staking-link setup and security rules
If you trade and stake from the same address, no staking-link action is required.
If you use separate addresses, a staking user and a trading user can be linked so that the staking user's HYPE staked is attributed to the trading user's fees. The docs state that linking requires the trading user to send an action first, and then the staking user to finalize the link. The docs point to "Link Staking" at app.hyperliquid.xyz/portfolio for the interface.
Important rules:
- The staking user and trading user must be controlled by the same user.
- Linking is permanent; unlinking is not supported.
- The staking user will not receive any staking-related fee discount after being linked.
- For security, the staking user can unilaterally transfer all funds from the trading user to the staking user's account in a single irreversible transaction.
- A trading user should never link to a staking user controlled by another user.
Related calculators
- Hyperliquid Trading Fees 2026: Maker, Taker & Rebates
- Hyperliquid Referral Discount Calculator (2026)
- Hyperliquid Gasless Trading and HYPE Staking Fee Discounts: How to Pay Less in 2026
- Hyperliquid 4% Fee Discount: $25M Cap Math (2026)
CTA
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