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Hyperliquid has the most aggressive fee structure in all of crypto derivatives trading. Zero gas fees on every transaction. Zero maker fees at higher volume tiers. And a 90% fee reduction on dozens of HIP-3 growth mode assets — including commodities, equities, and real-world asset perps.
If you're paying 0.05–0.10% taker fees on Binance or Bybit, switching to Hyperliquid can cut your trading costs by 50–90% depending on what and how you trade.
I've been trading perpetuals on Hyperliquid since late 2025. This guide breaks down every fee-saving mechanism available on the platform — from the obvious ones to the strategies most traders miss.
The Basics: Hyperliquid's Fee Structure
Let's start with what you're actually paying on Hyperliquid versus a typical centralized exchange.
Perpetual Futures Fees (Base Tier)
| Exchange | Taker Fee | Maker Fee | Gas Fee |
|---|---|---|---|
| Hyperliquid | 0.045% | 0.015% | $0 |
| Binance | 0.045% | 0.020% | Network-dependent |
| Bybit | 0.055% | 0.020% | Network-dependent |
| OKX | 0.050% | 0.020% | Network-dependent |
| dYdX | 0.050% | 0.020% | $0 (appchain) |
On Binance, you pay gas when depositing, withdrawing, and interacting with any on-chain element. On Hyperliquid, gas is absorbed by the L1. This matters more than most people realize: active traders placing 50–200 orders per day save meaningfully on gas alone.
The Real Edge: Volume Tiers
Hyperliquid's fee tiers get aggressive fast. Here's the perpetual fee schedule by 14-day rolling volume:
| Tier | 14-Day Volume | Taker Fee | Maker Fee |
|---|---|---|---|
| 0 | < $5M | 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% |
Even at Tier 2 ($25M in 14-day volume), maker fees drop to 0.008% — roughly half of what Binance charges at equivalent volume levels.
Volume Counting: The Double-Dip
Here's a detail most guides miss: spot trading volume counts double toward your fee tier. The formula is:
14d weighted volume = (14d perps volume) + 2 × (14d spot volume)
If you trade both spot and perps on Hyperliquid, your spot volume accelerates your tier progression. A trader doing $10M in perps and $5M in spot volume gets credited as $20M — enough for Tier 2.
Sub-account volume also counts toward your master account, so all accounts share the same fee tier.
Where "Zero Fee" Actually Exists
Now for the main question: which trades on Hyperliquid are truly free or near-free?
1. All Gas Fees — Always Zero
Every action on Hyperliquid costs zero gas:
- Placing orders (limit, market, stop, TP/SL)
- Cancelling orders
- Modifying orders
- Opening and closing positions
- Deposits and withdrawals (Hyperliquid side — you still pay Arbitrum gas for the bridge)
- Transfers between sub-accounts
2. Maker Fees at Tier 4+ — Zero
If your 14-day rolling volume exceeds $500 million, every limit order that fills as a maker (providing liquidity) has zero fees. This is primarily relevant for:
- Market makers
- Algorithmic trading firms
- High-frequency traders
- Whale traders running systematic strategies
3. HIP-3 Growth Mode Assets — 90% Fee Reduction
This is where it gets interesting for everyone. HIP-3 growth mode slashes all protocol fees, rebates, and volume contributions by 90% on qualifying assets.
When growth mode is active on a HIP-3 perp, your effective fees look like this:
| Tier | Normal Taker | Growth Mode Taker | Normal Maker | Growth Mode Maker |
|---|---|---|---|---|
| 0 | 0.045% | ~0.0045% | 0.015% | ~0.0015% |
| 1 | 0.040% | ~0.0040% | 0.012% | ~0.0012% |
| 2 | 0.035% | ~0.0035% | 0.008% | ~0.0008% |
Which Assets Have Growth Mode?
Growth mode is activated by the deployer (the entity that listed the market via HIP-3) and applies to non-crypto assets — it explicitly cannot be used on:
- Standard crypto perpetuals (BTC, ETH, SOL, etc.)
- Crypto index perps
- ETF-tracking perps
- Assets that closely replicate existing listings
- Commodity perpetuals — crude oil, gold, silver, natural gas (deployed by Trade[XYZ] and others)
- Equity perpetuals — individual stock perps like TSLA, NVDA, AAPL (via Trade[XYZ])
- Index perpetuals — the recently launched S&P 500 perp
- Exotic/novel assets — pre-IPO tokens, real-world yield products, tokenized treasuries
For a detailed walkthrough on trading commodities, see our guide to trading oil, gold, and silver on Hyperliquid. For the new S&P 500 index perp specifically, see our S&P 500 on Hyperliquid step-by-step guide.
4. Maker Rebates — Getting Paid to Trade
At higher maker volume levels, Hyperliquid doesn't just waive your maker fee — it pays you a rebate:
| Maker Rebate Tier | 14-Day Weighted Maker Volume (% of total) | Maker Fee |
|---|---|---|
| 1 | > 0.5% | -0.001% |
| 2 | > 1.5% | -0.002% |
| 3 | > 3.0% | -0.003% |
Rebates are paid continuously — directly to your trading wallet on each fill. No claiming, no waiting periods.
HYPE Staking: 5–40% Fee Discount
Beyond volume tiers, Hyperliquid offers an additional layer of fee reduction through HYPE token staking. Stake HYPE and get a percentage discount applied on top of your volume-based fees:
| Staking Tier | HYPE Staked | Fee 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% |
- Base taker: 0.045%
- After 10% staking discount: 0.045% × 0.90 = 0.0405%
- Base maker: 0.015%
- After 10% staking discount: 0.015% × 0.90 = 0.0135%
- Base taker: 0.040%
- After 20% staking discount: 0.040% × 0.80 = 0.032%
- Base maker: 0.012%
- After 20% staking discount: 0.012% × 0.80 = 0.0096%
| Staking Tier | HYPE Needed | Approximate Cost (at $40/HYPE) |
|---|---|---|
| Wood (5%) | 10 | ~$400 |
| Bronze (10%) | 100 | ~$4,000 |
| Silver (15%) | 1,000 | ~$40,000 |
| Gold (20%) | 10,000 | ~$400,000 |
Staking Linking
An important feature: you can link a staking wallet to a separate trading wallet. This means your HYPE staking position and your trading capital don't need to be in the same address.
Warning: This link is permanent and gives the staking wallet control over the trading wallet. Only link wallets you fully control. There is no unlinking.Referral Discounts: Free Fee Reduction for New Users
If you sign up through a referral link, you receive a discount on fees for your first $25 million in trading volume. The referrer also earns rewards on your first $1 billion in volume.
This is a straightforward way to get reduced fees from day one. If you haven't signed up yet, using a referral link like this one gives you the discount automatically.
The exact referral discount rate depends on the referrer's configuration, but it typically provides an additional 4–5% reduction on your trading fees during the eligible period.
Spot Trading Fees: Different Schedule
Spot trading on Hyperliquid has a separate — and higher — fee schedule:
| Tier | 14-Day Weighted Volume | Spot Taker | Spot Maker |
|---|---|---|---|
| 0 | < $5M | 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% |
Aligned Quote Assets: Extra Savings
Spot pairs between "aligned quote assets" (pairs where both sides are stablecoins or closely related assets) get an additional 20% taker fee reduction and 50% better maker rebates. If you're swapping between USDC and another stablecoin, check if the pair qualifies for this discount.
Deployer Fee: The HIP-3 Surcharge
One cost that's unique to HIP-3 markets: deployers can configure an additional fee share between 0–300% (0–100% if growth mode is active). This deployer fee goes to the entity that listed the market.
In practice, this means some HIP-3 perps (equity, commodity, index contracts) may charge a small additional fee on top of the standard Hyperliquid schedule. This varies by deployer and market.
For Trade[XYZ] markets, the deployer fee has generally been modest. But always check the fee breakdown shown on each specific market before trading. The Hyperliquid interface shows you the total fee (protocol + deployer) before you confirm a trade.
If the deployer fee is set above 100%, the protocol fee increases to match the deployer fee — effectively doubling the cost floor. This is rare but worth knowing about.
How Fees Are Used: Why It Matters
Unlike most exchanges where fees enrich the company or insiders, Hyperliquid's fee distribution is transparent and community-oriented:
- HLP (Hyperliquidity Provider) — The protocol's liquidity provision vault
- Assistance Fund — A system address that converts trading fees to HYPE and burns them permanently, reducing total supply
- Deployers — Up to 50% of fees from HIP-3 assets goes to the deployer
This is why HYPE staking for fee discounts has a secondary benefit: the token you're staking may appreciate partly because trading fees keep burning supply.
Practical Fee Optimization: 7 Strategies
Here's what I actually do to minimize fees on Hyperliquid:
1. Use Limit Orders Whenever Possible
The single biggest fee reducer. At base tier, switching from market orders (0.045% taker) to limit orders (0.015% maker) cuts your trading fee by 67%. On a $10,000 position, that's $4.50 vs $1.50.
For entries that aren't time-critical, always use limit orders. Set your price slightly below the current ask (for longs) or above the current bid (for shorts), and let the order fill passively.
2. Stake at Least 10 HYPE
The Wood tier (10 HYPE, ~$400) gives a 5% fee discount for essentially pocket change. If you're trading regularly on Hyperliquid, this is a no-brainer. The discount applies automatically once you stake.
3. Sign Up With a Referral Link
If you're creating a new account, start with a referral link to get the automatic fee discount on your first $25M in volume. There's no reason not to.
4. Trade HIP-3 Growth Mode Assets for Lowest Possible Fees
If you're interested in commodities, equities, or index exposure, the HIP-3 growth mode perps offer the lowest fees on the platform. Trading gold, oil, or the S&P 500 perp on Hyperliquid costs a fraction of what equivalent perps cost on competing platforms — sometimes under 0.005% for takers.
5. Combine Spot and Perps Volume
If you're already trading spot on another platform, consider moving some of that volume to Hyperliquid. Spot volume counts double toward fee tier progression, which means even moderate spot trading can push you into Tier 1 or Tier 2 faster than perps alone.
6. Use Sub-Accounts Strategically
All sub-account volume rolls up to your master account's fee tier. If you run multiple strategies (one discretionary, one algorithmic), use sub-accounts to keep them separate while benefiting from combined volume for tier calculation.
7. Time Your Entries Around Funding Rates
This isn't a fee reduction per se, but funding rates are a real cost of holding perpetual positions. Before entering a trade, check the current funding rate:
- If funding is heavily positive and you want to go long, consider waiting for it to normalize
- If you're opening a short when funding is positive, you'll earn funding — effectively getting paid to hold
For a detailed explanation of how to set stop-losses on Hyperliquid, see our stop-loss guide.
Real-World Fee Comparison: A $100K Monthly Trading Example
Let's make this concrete. Assume a trader doing $100,000 in notional perps volume per month, mixing limit and market orders 50/50.
On Binance (Base Tier):
- 50% market orders: $50K × 0.045% = $22.50
- 50% limit orders: $50K × 0.020% = $10.00
- Gas fees (deposits/withdrawals): ~$5.00
- Total monthly cost: ~$37.50
On Hyperliquid (Base Tier, No Staking):
- 50% market orders: $50K × 0.045% = $22.50
- 50% limit orders: $50K × 0.015% = $7.50
- Gas fees: $0
- Total monthly cost: ~$30.00 (20% cheaper)
On Hyperliquid (Bronze Staking + HIP-3 Growth Mode Asset):
- 50% market orders: $50K × 0.045% × 0.10 × 0.90 = ~$2.03
- 50% limit orders: $50K × 0.015% × 0.10 × 0.90 = ~$0.68
- Gas fees: $0
- Total monthly cost: ~$2.71 (93% cheaper than Binance)
Even without growth mode, the combination of lower maker fees and zero gas consistently saves 15–30% versus major centralized exchanges for most trading patterns.
What About Withdrawal Costs?
Withdrawals from Hyperliquid go through the Arbitrum bridge. You'll pay:
- Hyperliquid side: $0 (no protocol fee for withdrawals)
- Arbitrum gas: Typically $0.05–0.50 depending on network congestion
Frequently Asked Questions
Is Hyperliquid truly zero gas fees?
Yes. All on-chain actions on Hyperliquid's L1 (order placement, cancellation, trades, funding payments) cost zero gas. You only pay gas when bridging USDC to/from the Arbitrum network. This is a permanent feature of the protocol design, not a temporary promotion.
Can I get zero trading fees on Hyperliquid?
Maker fees drop to zero at Tier 4 (> $500M in 14-day volume). For most retail traders, this isn't achievable. However, on HIP-3 growth mode assets, maker fees at Tier 0 are already near-zero at ~0.0015%. Combined with staking discounts, your effective fee can be under 0.001%.
What's the cheapest way to start trading on Hyperliquid?
1. Sign up with a referral link for the automatic discount
2. Deposit USDC via Arbitrum (cheapest source: withdraw from OKX on Arbitrum network, ~$0.10) 3. Stake 10 HYPE for the Wood tier discount ($400 at current prices) 4. Use limit orders whenever possible 5. Trade HIP-3 growth mode assets for the lowest possible feesHow do Hyperliquid fees compare to dYdX?
dYdX charges 0.050% taker and 0.020% maker at base tier — higher than Hyperliquid on both sides. dYdX also has zero gas (it's an appchain), but Hyperliquid wins on base fee rates, staking discounts, and the HIP-3 growth mode ecosystem.
Do HIP-3 growth mode fees apply to BTC and ETH perps?
No. Growth mode explicitly cannot be activated on standard crypto perpetuals, crypto indexes, or ETFs that closely track existing listings. It only applies to non-crypto or novel assets — primarily commodities, equities, indices, and exotic markets.
Is the HYPE staking discount worth it?
At the Wood tier (10 HYPE, ~$400), almost certainly yes if you trade regularly. The 5% fee discount at $5,000+ monthly volume pays for the capital allocation within a few months, and you retain ownership of the HYPE tokens (which may appreciate). Higher tiers require more capital and should be evaluated based on your trading volume.
The Bottom Line
Hyperliquid's fee structure is designed to be aggressive. Zero gas, low base rates, volume-based tiers, staking discounts, maker rebates, and the HIP-3 growth mode ecosystem all stack together to create the lowest trading costs available in on-chain derivatives — and competitive with the best centralized exchange rates.
For crypto perps, you're saving 15–30% versus major CEXs through lower maker fees and zero gas. For HIP-3 assets (commodities, equities, indices), the savings are dramatic — often 80–95% cheaper than equivalent products on centralized platforms.
The recent $45 billion daily volume milestone isn't just a vanity metric. Traders follow the lowest costs and best execution, and Hyperliquid is winning that race.
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Ready to start? Create a Hyperliquid account with a referral discount, deposit USDC from OKX, and stake a few HYPE tokens for an immediate fee reduction. Then use limit orders and watch your trading costs drop.---
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