Fees
Hyperliquid Protocol Fees
Fees are determined based on your rolling 14-day trading volume and are recalculated daily at UTC midnight. All sub-account volume contributes to the master account’s tier, and all sub-accounts share the same rate. Vault trading volume is calculated separately.
Maker rebates are paid instantly on each trade directly to your wallet.
Fee tiers are shared between perpetuals and spot markets, but spot volume counts double toward tier progression:
14-day weighted volume = (perps volume) + 2 × (spot volume)
HIP-3 Fees
There is one unified fee tier across all markets - including perps, HIP-3 perps, and spot. HIP-3 perps charge 2× fees but maintain the same rebate structure.
HyENA, as a HIP3 market, incorporates the usual sources of trading fee discounts, including staking discounts and referral rewards. From the user perspective, fees are 2x the usual fees on validator-operated perp markets (i.e., Hyperliquid's traditional USDC-margined crypto perps). User rebates are unaffected, and do not interact with the deployer.
For spot-to-spot pairs (where both assets are quote assets, which is practically stable-swaps such as USDe/USDC), taker fees, maker rebates, and tier contribution are all reduced by 80%. Fee tiers (following Hyperliquid's fee table)
0
0.045%
0.015%
0.070%
0.040%
1
>5M
0.040%
0.012%
0.060%
0.030%
2
>25M
0.035%
0.008%
0.050%
0.020%
3
>100M
0.030%
0.004%
0.040%
0.010%
4
>500M
0.028%
0.000%
0.035%
0.000%
5
>2B
0.026%
0.000%
0.030%
0.000%
6
>7B
0.024%
0.000%
0.025%
0.000%
Maker rebates (following Hyperliquid's maker rebates)
1
>0.5%
-0.001%
2
>1.5%
-0.002%
3
>3.0%
-0.003%
Staking tiers (following Hyperliquid's staking tiers)
Wood
>10
5%
Bronze
>100
10%
Silver
>1,000
15%
Gold
>10,000
20%
Platinum
>100,000
30%
Diamond
>500,000
40%
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