# Hyperliquid Fees: 0.015% Maker, 0.045% Taker — No Gas, No KYC (2026)

> Hyperliquid charges 0.015% maker / 0.045% taker on perps. No gas fees. No KYC required. Full fee breakdown including spot trading, withdrawals, funding rates, and how to get 4% off with a referral code.

*Source: https://hyperliquidguide.com/guides/fees/fees-explained*

| Fee Type | Rate |
|----------|------|
| **Perp Taker** | 0.045% |
| **Perp Maker** | 0.015% |
| **Spot Taker** | 0.070% |
| **Spot Maker** | 0.040% |
| **Gas Fees** | Free (zero) |
| **Deposit Fee** | Free (zero) |
| **Withdrawal Fee** | 1 USDC flat |
| **Funding Rate** | Every 8 hours |
| **Referral Discount** | 4% lifetime |
| **Max Staking Discount** | 40% (Diamond tier) |

Fees are the silent killer of trading profits. A 0.05% difference between exchanges might not sound like much, but on a $100,000 position it is $50 per trade - and that adds up fast across hundreds or thousands of trades per month. Understanding exactly what you pay on Hyperliquid, and how to pay less, is one of the highest-leverage things you can do as a trader.

This guide covers the complete Hyperliquid fee structure for 2026: base rates, volume tiers, every available discount, and how to stack them for maximum savings. For a dedicated breakdown of volume-based tier thresholds and how to qualify for lower rates, see our [fee tiers guide](/guides/fees/fee-tiers). US traders should note [Hyperliquid's availability restrictions](/privacy/hyperliquid-us-availability) before reviewing fees — the frontend geo-blocks US IP addresses regardless of your fee tier.

> **Key takeaway:** **What Are Hyperliquid's Fees? Quick Answer** — Hyperliquid charges some of the lowest trading fees in crypto. Perpetual futures cost **0.015% maker / 0.045% taker** at base tier, while spot trading is **0.040% maker / 0.070% taker**. USDC withdrawals are free — the only withdrawal cost is a flat 1 USDC fee to cover Arbitrum validator gas. There are zero gas fees on any trade, order, or cancellation. These rates are significantly lower than centralized exchanges like Binance (0.02%/0.05%) and far below other DEXes like dYdX (0.02%/0.05%). Stack a 4% referral discount with HYPE staking (up to 40% off) to reduce effective fees even further. When you factor in zero gas costs and available discounts, Hyperliquid is the most cost-competitive exchange — centralized or decentralized — for active futures traders in 2026.

## What Are Hyperliquid's Current Fees? (Updated May 2026)

### Fee Changes in 2026 — What's Actually Different?

As of May 26, 2026, Hyperliquid has not changed its base fee structure since the protocol launched its mainnet. The same 0.015% maker and 0.045% taker rates that applied at launch remain the published base tier today, verified directly against the [Hyperliquid official fee documentation](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees). Spot fees (0.040% maker, 0.070% taker) are likewise unchanged, and the 1 USDC flat withdrawal fee has remained constant since the native bridge to Arbitrum launched. The only fee-adjacent updates in 2026 have been (1) the introduction of HIP-3 builder markets in early 2026, which carry a slightly higher 0.03% maker / 0.09% taker rate because a portion routes to the builder (trade.xyz, Felix Protocol) that deployed the market; (2) the sunsetting of the legacy USDH aligned-quote-asset rebate program in favor of the broader AQAv2 framework; and (3) a small adjustment to the VIP tier thresholds in mid-2026 that lowered the entry point for the first paid tier (now $5M in 14-day rolling volume, down from the launch threshold). The four discount layers — referral, VIP volume tiers, HYPE staking, and aligned-quote-asset rebates — remain the only ways to reduce your effective fee, and they continue to stack multiplicatively rather than additively.

| Fee | Rate | What It Means |
|-----|------|---------------|
| Maker Fee | 0.015% | Adds liquidity (limit orders that rest in the book) |
| Taker Fee | 0.045% | Takes liquidity (market orders, immediate-fill limits) |
| Spot Maker | 0.040% | Spot trading on Hyperliquid's HIP-1 pairs |
| Spot Taker | 0.070% | Spot trading on Hyperliquid's HIP-1 pairs |
| Gas Fee | $0.00 | No gas on any trade, cancel, or modification |
| Withdrawal | 1 USDC | Flat fee per USDC withdrawal to Arbitrum |

Hyperliquid charges 0.015% maker and 0.045% taker fees on perpetual futures as of May 2026, with zero gas fees on every trade, cancellation, or modification. Maker orders add liquidity to the order book by resting as limit orders, while taker orders remove liquidity through market orders or immediate-fill limits. Spot trading uses higher rates of 0.040% maker and 0.070% taker, reflecting the different liquidity profile of HIP-1 spot markets. Withdrawals cost a flat 1 USDC fee to cover Arbitrum validator gas; deposits via the native USDC bridge are free from Hyperliquid's side. Stacking discounts can reduce effective fees by approximately 30% — a 4% lifetime referral discount applies automatically at signup, VIP volume tiers begin at $5M in 14-day trading volume, and HYPE staking tiers add up to 40% off at the Diamond tier (500,000+ HYPE staked). These figures are sourced from [Hyperliquid's official fee documentation](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees) and verified May 2026.

## Does Hyperliquid Have Gas Fees?

**No — Hyperliquid does not charge gas fees for trading.** As of March 2026, there are zero gas fees on perpetual or spot trades. Users pay only maker/taker spread fees (0.015% maker, 0.045% taker at base tier). Deposits via the native USDC bridge are also free of gas charges from Hyperliquid's side.

This is possible because Hyperliquid runs on its own purpose-built Layer 1 blockchain rather than settling on Ethereum or Arbitrum. Every order placement, cancellation, and modification is completely gas-free — no matter how many transactions you make per day. By contrast, DEXs built on Ethereum or Arbitrum (like GMX) charge $2–20+ in gas per transaction, which can easily exceed the trading fee itself on smaller positions. On Hyperliquid, your only cost is the trading fee. For a full breakdown of what those trading fees look like, see the [fee tiers below](#current-hyperliquid-fee-rates).

## Does Hyperliquid Charge a Deposit Fee?

**No — deposits via the native USDC bridge are free. Hyperliquid charges zero deposit fees.** Whether you bridge USDC from Arbitrum, use a cross-chain bridge like Across Protocol, or deposit directly with BTC, ETH, or SOL, Hyperliquid takes no cut on any deposit method.

The only cost you will encounter is the source-chain network gas fee paid to blockchain validators — not to Hyperliquid. On Arbitrum, this is typically $0.10–0.50 in ETH. Through Across Protocol, deposits from 22+ chains arrive in seconds with near-zero bridge fees. This makes Hyperliquid one of the cheapest exchanges to fund in all of crypto, whether you compare it to centralized or decentralized alternatives. For a step-by-step walkthrough, see our [USDC deposit guide](/guides/getting-started/deposit-usdc-to-hyperliquid) or [bridge guide](/guides/getting-started/bridge-to-hyperliquid).

> **Warning:** Every rate on this page assumes you are trading directly on Hyperliquid. If you place orders through a wallet or third-party app instead, that app may be adding a [builder fee](/guides/trading/hyperliquid-builder-fees-explained) of up to 0.1% on top. Phantom charges 0.05%, which more than doubles a base-tier taker fill.

## Why Hyperliquid Fees Are Worth Understanding

Hyperliquid is not just another DEX. It runs on its own purpose-built Layer 1 blockchain, which means two things that directly affect your wallet:

- **[Zero gas fees.](/guides/fees/zero-gas-fees-explained)** Every order, every cancel, every modification - free. On Ethereum-based DEXs like GMX, a single trade can cost $5-20 in gas during congestion. On Hyperliquid, gas costs are exactly zero, always.
- **Central limit order book (CLOB).** Unlike AMM-based DEXs that charge swap fees and suffer from [slippage](/guides/trading/slippage-explained), Hyperliquid uses a traditional order book. This means you get maker/taker pricing similar to centralized exchanges, but fully on-chain.

The result is a fee structure that competes directly with centralized exchanges - while being completely decentralized, permissionless, and requiring no KYC.

This page covers the perp and spot rates in depth. If you want the whole picture in one place, including deposit and withdrawal costs, worked examples, and where the fee revenue goes, [our full Hyperliquid fee breakdown](/guides/fees) collects it.

Worth knowing where your fees actually end up: the headline rates below are what you pay, but only part of that reaches the protocol itself. The rest goes to liquidity providers and, on builder-deployed markets, to the deployer. We track the split month by month in [Hyperliquid revenue vs volume](/ecosystem/hyperliquid-revenue-vs-volume), where the protocol's retained share of fees drops from 94.2% in mid-2025 to 69.7% by July 2026.

> **Key takeaway:** Hyperliquid charges zero gas fees. Perp base rates are 0.015% maker and 0.045% taker. Stack a referral discount and HYPE staking for up to 42% total reduction.

![Hyperliquid trading interface showing fee structure](/images/compare/shared/hyperliquid-trading-interface.webp)

## Maker vs Taker Fees: The Basics

Before diving into specific numbers, you need to understand the two types of fees every exchange charges. (For full definitions of trading terms, see our [glossary](/guides/getting-started/hyperliquid-glossary).)

### What Is a Taker Fee?

A **taker fee** is charged when your order executes immediately against an existing order on the book. This happens when you:

- Place a **market order** (buy or sell at current price)
- Place a **limit order** at a price that already has a match (e.g., placing a buy limit at or above the current ask)

You are "taking" liquidity away from the order book, so the exchange charges more.

### What Is a Maker Fee?

A **maker fee** is charged when your order sits on the book and waits for someone else to fill it. This happens when you:

- Place a **limit order** below the current ask (for buys) or above the current bid (for sells)
- Your order adds liquidity to the book, which benefits all traders

Because you are "making" the market deeper, the exchange rewards you with a lower fee.

**The takeaway:** if you want to pay less, use limit orders that rest on the book instead of market orders. This single habit can cut your fee costs by more than 65%. Every perps venue splits fees this way, but the rates differ enough to matter over a year of trading, so it is worth checking [how those fees compare with dYdX](/compare/hyperliquid-vs-dydx) before you decide where to rest your orders.

> **Tip:** Switching from market orders to limit orders reduces your per-trade fee from 0.045% to 0.015% - a 67% reduction. This is the single biggest fee optimization available to every trader.

## Current Hyperliquid Fee Rates

### Perpetual Trading Fees

Hyperliquid's official fee schedule (updated April 2026, published at [app.hyperliquid.xyz/docs](https://app.hyperliquid.xyz/join/Concept211)) shows taker fees of 0.045% and maker fees of 0.015% on perpetual futures at the base tier — structurally lower than Binance (0.050% taker) and dYdX v4 (0.050% taker). The standard fee rates for perpetual futures on Hyperliquid:

| Fee Type | Rate | Cost on $10,000 Trade |
|---|---|---|
| **Taker Fee** | 0.045% | $4.50 |
| **Maker Fee** | 0.015% | $1.50 |

These are the base rates before any discounts. According to [CoinGecko's derivatives exchange rankings](https://www.coingecko.com/en/exchanges/derivatives), Hyperliquid consistently ranks among the top three exchanges by 24-hour derivatives volume. Combined with zero gas fees, these rates remain highly competitive — especially for active traders where gas costs on other DEXs add up quickly.

### Spot Trading Fees

Hyperliquid's spot market has a separate fee schedule:

| Fee Type | Rate | Cost on $10,000 Trade |
|---|---|---|
| **Taker Fee** | 0.070% | $7.00 |
| **Maker Fee** | 0.040% | $4.00 |

Spot fees are higher than perps, but spot volume counts **2x toward your fee tier** - meaning $1M in spot volume gives you the same tier credit as $2M in perp volume.

**Special spot fee reductions:**
- **Stable pairs** (e.g., USDC/USDT): 80% lower taker fees and maker rebates
- **Aligned quote assets**: 20% lower taker fees, 50% better maker rebates

### HIP-3 Builder Market Fees

Markets deployed by [HIP-3 builders](/ecosystem/hip-3-builder-codes) (like [trade.xyz](https://app.trade.xyz) for stocks and commodities) set their own rates through a **deployer fee scale**. Since August 2026 that scale is a continuous value from 0.1 to 3, chosen per market rather than once per venue, so two contracts on the same builder's DEX can charge different amounts.

The setting nearly everyone uses is 1.0, which doubles the native perp rate:

| Fee Type | Rate at scale 1.0 |
|---|---|
| **Taker Fee** | 0.09% (9 bps) |
| **Maker Fee** | 0.03% (3 bps) |

That is what you pay on trade.xyz, Paragon, EntropyIO and Markets By Kinetiq, covering 131 of the 144 builder markets trading on August 31, 2026. Two venues charge less: **HyENA** runs a scale of 0.1111 across its markets, which works out to 0.050% taker and 0.0167% maker, and Paragon runs one market at 0.5. Note that HyENA [announced it is sunsetting its DEX](https://docs.hyena.trade/) in late August 2026, so that cheaper rate is attached to a venue that is winding down rather than to one you can plan around. The ceiling is a scale of 3, or 0.27% taker, though nobody has gone above 1.0 yet. Your [VIP tier, staking and referral discounts](/guides/fees/fee-tiers) apply on top of whatever the builder charges, and new HIP-3 markets may also run in **Growth Mode**, which cuts taker fees by over 90% to bootstrap liquidity.

### HIP-4 Outcome Market Fees

[Outcome markets](/ecosystem/hip-4-outcome-trading) currently charge **nothing on mainnet**. Hyperliquid said on August 14, 2026 that the next network upgrade switches fees on for validator-deployed outcome markets, and that **the average outcome trading fee will be half that of non-outcome spot trading**. Against the 0.070% spot taker base, that points at roughly 0.035% on average.

The pricing works differently enough from perps and spot that the headline rate alone will mislead you:

| Event | What you pay |
|---|---|
| Minting a complete set of outcome tokens | Nothing, and no volume is counted |
| Opening a position | Nothing |
| Closing a position | The fee applies here |
| Burning a set back to collateral | One or both sides pay |
| Settlement at expiry | Charged on `settle_fraction × size` |
| Maker orders | Zero, but no rebate either |

Two consequences worth planning around. A round trip costs one fee instead of two, since nothing is charged on the way in. And because there are no rebates, outcome markets are a worse deal for market makers than spot is: a trader who would collect 0.040% as a spot maker collects nothing here, they simply pay nothing. Only fee-paying volume counts toward your VIP tier, so outcome trading also builds volume history more slowly than the notional suggests.

Once [permissionless HIP-4 deployment](/ecosystem/hip-4-permissionless-deployment) reaches mainnet, deployers layer their own multiplier on top through a `deployerFeeScale` bounded between 0 and 10, using the same formula HIP-3 uses. At the maximum, a market charges twenty times the base outcome rate. Check the scale before trading a permissionless outcome market, because two deployments of the same template can differ by an order of magnitude.

**Lock In a 4% Discount Before Your First Trade** — Users who sign up through a referral link get a 4% lifetime discount on every trade. Users who sign up directly get nothing. It takes 10 seconds. [Get the 4% Discount](https://app.hyperliquid.xyz/join/Concept211)

---

## VIP Tier System: Volume-Based Discounts

Hyperliquid rewards high-volume traders with reduced fees through a tiered system. Fees are assessed daily based on your rolling 14-day weighted volume. Sub-account volume counts toward the master account, and all sub-accounts share the same fee tier.

**Weighted volume formula:** `(14d perps volume) + 2 × (14d spot volume)`

### Perpetual VIP Tiers

| Tier | 14-Day Volume | Taker Fee | Maker Fee |
|---|---|---|---|
| **Tier 0** | < $5M | 0.045% | 0.015% |
| **Tier 1** | $5M+ | 0.042% | 0.012% |
| **Tier 2** | $50M+ | 0.040% | 0.010% |
| **Tier 3** | $200M+ | 0.038% | 0.008% |
| **Tier 4** | $500M+ | 0.036% | 0.000% |
| **Tier 5** | $2B+ | 0.030% | 0.000% |
| **Tier 6** | $7B+ | 0.024% | 0.000% |

At Tier 4+, maker fees drop to zero - you pay nothing to add liquidity. High-volume makers who exceed 0.5% of 14-day platform activity may even earn **maker rebates** of -0.001% to -0.003%.

For most individual traders, the volume thresholds for Tier 3+ are out of reach. That is exactly why the referral discount and HYPE staking are so important - they are accessible to everyone regardless of volume.

## Referral Discount: The Easiest 4% You Will Ever Save

Here is the single easiest thing you can do to reduce your fees on Hyperliquid: **sign up through a [referral link](/referral).**

When you create your Hyperliquid account through a referral link like Concept211, you lock in a **4% lifetime discount** on all trading fees. This applies to:

- All perpetual trades
- All spot trades
- Both maker and taker fees
- The first $25M in trading volume

### What Does 4% Actually Save You?

Let's do the math. On a standard taker fee of 0.045%:

- **Without referral:** 0.045% per trade
- **With referral (4% off):** 0.0432% per trade
- **Savings per $100,000 traded:** $1.80

That might sound modest, but active traders easily do $100K+ in daily volume. Over a month, that is $54 saved - and over a year, $650+. The discount applies automatically to every single trade, forever.

### Why This Matters

The critical detail most traders miss: **users who sign up without any referral code get zero discount.** There is no way to apply a referral code after the fact. The discount window is only open at account creation.

This is not a trick or an upsell. It is simply how Hyperliquid's referral system works. Using a referral code is strictly better for you - there is no catch and no downside.

[Sign up with our referral code and save 4% on every trade](https://app.hyperliquid.xyz/join/Concept211)

---

## HYPE Staking Discount: Up to 40% Additional Reduction

Beyond the referral discount, Hyperliquid offers a staking-based fee reduction for holders of the HYPE token (Hyperliquid's native token).

By staking HYPE tokens, you can unlock an **additional discount of up to 40%** on your trading fees. The discount scales with the amount of HYPE you stake:

| Staking Tier | HYPE Staked | Fee Discount |
|---|---|---|
| **Wood** | 10+ HYPE | 5% |
| **Silver** | 100+ HYPE | 5% |
| **Gold** | 1,000+ HYPE | 10% |
| **Platinum** | 10,000+ HYPE | 15% |
| **Emerald** | 100,000+ HYPE | 25% |
| **Diamond** | 500,000+ HYPE | 40% |

### How Staking Discounts Work

1. **Acquire HYPE** - [buy on Hyperliquid's spot market](/guides/getting-started/how-to-buy-hype-token) or receive from staking rewards
2. **Stake your HYPE** - delegate to a validator through the staking interface
3. **Discount applies automatically** - your trading fees adjust based on your staked amount
4. **Unstaking period** - there is typically a cooldown period when you unstake, so plan accordingly

The staking discount is particularly attractive for longer-term traders who plan to be active on the platform for months or years. The HYPE you stake also [earns staking rewards](/ecosystem/hype-staking-yields-guide), so you are effectively being paid to lower your own fees.

## How Discounts Stack: Referral + Staking

This is where it gets powerful. The referral discount and the HYPE staking discount **stack on top of each other.**

Here is what that looks like in practice:

**Example: Taker fee with both discounts**

1. Base taker fee: **0.045%**
2. Apply 4% referral discount: 0.045% × 0.96 = **0.0432%**
3. Apply 40% staking discount (Diamond): 0.0432% × 0.60 = **0.02592%**

That takes your effective taker fee from 0.045% down to roughly **0.026%** - a **42.4% total reduction** from the base rate.

**Example: Maker fee with both discounts**

1. Base maker fee: **0.015%**
2. Apply 4% referral discount: 0.015% × 0.96 = **0.0144%**
3. Apply 40% staking discount: 0.0144% × 0.60 = **0.00864%**

Your maker fee drops to under **0.009%** - essentially negligible.

To skip the arithmetic entirely, run your own numbers through the [Hyperliquid fee calculator](/tools/fee-calculator) — it stacks your volume tier, staking discount, and referral discount and shows your effective rate, monthly cost, and annual savings.

### The Savings Add Up

For a trader doing $1M in monthly volume with a 50/50 split between maker and taker orders:

| Scenario | Monthly Fee Cost | Annual Savings vs Base |
|---|---|---|
| Base rates only | $300 | - |
| Referral discount only | $288 | $144/year |
| Staking discount only (40%) | $180 | $1,440/year |
| **Both stacked** | **$172.80** | **$1,526.40/year** |

The referral discount is free. The staking discount requires capital but earns yield. Together, they represent the best available fee optimization for most traders.

**Start With the Free Discount** — Every optimization starts with the referral link. Lock in your 4% discount now, then layer on staking later. Users who skip this step pay full price forever. [Claim 4% Lifetime Discount](https://app.hyperliquid.xyz/join/Concept211)

## Hyperliquid Fees vs Competitors

How does Hyperliquid stack up against the competition? Here is a direct comparison of base fees across major exchanges:

### Key Takeaways From the Comparison

- **Maker fees are industry-leading.** At 0.015%, Hyperliquid's maker fee is lower than every competitor listed.
- **Taker fees are competitive.** At 0.045%, Hyperliquid undercuts dYdX, GMX, [Kraken](/compare/hyperliquid-vs-kraken), [OKX](/compare/hyperliquid-vs-okx), [Gate.io](/compare/hyperliquid-vs-gate-io), [Crypto.com](/compare/hyperliquid-vs-crypto-com), and [Bybit](/compare/hyperliquid-vs-bybit). Binance's base taker of 0.040% is slightly lower, but Binance requires KYC and is centralized.
- **Zero gas fees** give Hyperliquid a hidden cost advantage over GMX, where Arbitrum gas can add $2-20 per transaction depending on network conditions.
- **[No KYC](/guides/getting-started/hyperliquid-kyc-requirements)** means you can start trading immediately - unlike Binance and Bybit, which require identity verification that can take days.

When you factor in gas costs, Hyperliquid is often the cheapest option overall. A GMX trader paying 0.070% plus $5 in gas on a $10,000 trade is paying an effective rate of 0.120% - more than double Hyperliquid's taker fee.

For detailed head-to-head breakdowns, see our comparison guides: [Hyperliquid vs Binance](/compare/hyperliquid-vs-binance), [vs Binance Futures (fees deep-dive)](/compare/hyperliquid-vs-binance-futures), [vs Bybit](/compare/hyperliquid-vs-bybit), [vs dYdX](/compare/hyperliquid-vs-dydx), [vs GMX](/compare/hyperliquid-vs-gmx), [vs OKX](/compare/hyperliquid-vs-okx), [vs Kraken](/compare/hyperliquid-vs-kraken), [vs MEXC](/compare/hyperliquid-vs-mexc), [vs Crypto.com](/compare/hyperliquid-vs-crypto-com), and [vs Gate.io](/compare/hyperliquid-vs-gate-io).

## Real-World Fee Scenarios: What You Actually Pay

Abstract percentages are hard to reason about. Here are three realistic trader profiles showing actual monthly costs on Hyperliquid. One caveat before the scenarios: for anyone holding a position rather than round-tripping it, fees are the smaller half of the bill. Our measurement of [what Hyperliquid perps actually cost over 90 days](/ecosystem/what-hyperliquid-perps-cost) puts funding against fees market by market, and funding wins by a wide margin at any holding period beyond a few days.

Understanding your effective fee rate also matters once tax season arrives — see our guide to [tax implications of fee structures](/guides/trading/hyperliquid-tax-reporting-guide) for how Hyperliquid trading costs, funding payments, and referral rebates are treated under common crypto tax frameworks. The fee number that wins on the calculator above is not always the same one your accountant treats as deductible, and the gap matters most for high-volume traders.

### Scenario 1: Casual Trader ($50K Monthly Volume)

A beginner placing a few trades per week, mostly market orders on BTC and ETH.

| Component | Cost |
|---|---|
| Taker fees (0.045% × $50K) | $22.50 |
| With referral discount (4% off) | $21.60 |
| Gas fees | $0.00 |
| Deposit cost (one-time Arbitrum gas) | ~$0.20 |
| **Total monthly cost** | **~$21.80** |

According to [CoinMarketCap's exchange comparison data](https://coinmarketcap.com/rankings/exchanges/), Binance charges a base futures taker fee of 0.050% — the same $50K volume costs $25.00 in fees, requires full KYC, forfeits self-custody, and the withdrawal fee to get funds back out is $1+ per transaction.

### Scenario 2: Active Day Trader ($500K Monthly Volume)

A trader using a mix of limit and market orders (60% maker, 40% taker), trading daily across multiple markets.

| Component | Cost |
|---|---|
| Taker fees (0.045% × $200K) | $90.00 |
| Maker fees (0.015% × $300K) | $45.00 |
| Subtotal before discounts | $135.00 |
| With referral (4%) + Gold staking (10%) | $116.64 |
| Gas fees | $0.00 |
| **Total monthly cost** | **~$116.64** |

That is $1,399/year in trading fees. Compare that to GMX, where the same volume with 0.070% taker/maker plus an average $3 in gas per trade (500 trades/month) would cost roughly $3,500 + $1,500 in gas = **$5,000/year**.

### Scenario 3: High-Volume Trader ($5M Monthly Volume)

A professional trader or algorithmic system executing high volume with mostly limit orders (80% maker, 20% taker).

| Component | Cost |
|---|---|
| Taker fees (0.045% × $1M) | $450.00 |
| Maker fees (0.015% × $4M) | $600.00 |
| Subtotal before discounts | $1,050.00 |
| With referral (4%) + Platinum staking (15%) | $856.80 |
| VIP Tier 1 applied (additional ~7% maker reduction) | ~$800.00 |
| **Total monthly cost** | **~$800** |

At this volume, the trader also benefits from VIP tier progression. Maker fees alone save thousands per year compared to any AMM-based DEX.

> **Key takeaway:** The total cost of trading on Hyperliquid is not just the fee percentage - it is the fee plus zero gas, zero deposit fee, and stackable discounts. When you add it all up, Hyperliquid is often the cheapest platform regardless of whether you compare it to DEXs or CEXs.

---

## Aligned Quote Assets — USDH (Sunset) and AQAv2 With USDC

[USDH](/ecosystem/usdh-stablecoin-guide) was Hyperliquid's native aligned stablecoin from September 2025 through May 2026. Trading with USDH as the quote asset (rather than USDC) unlocked special fee reductions under the original AQAv1 spec:

- **Taker fees:** 20% lower than standard rates (0.045% → 0.036% at base tier)
- **Maker rebates:** 50% higher than standard rates

On May 14, 2026, Hyperliquid announced **[Aligned Quote Asset v2 (AQAv2)](/ecosystem/aqav2-usdc-aligned-quote-asset)**, a new spec where Coinbase (treasury deployer) and Circle (technical deployer) activate aligned status on **USDC** — making USDC the canonical quote asset for HIP-4 and validator-operated perp markets in a future network upgrade. Importantly, **AQAv2 has no trading fee or volume contribution benefit**. The USDH-style trader discounts do not carry over to USDC under AQAv2 — alignment value flows entirely through reserve yield share back to the protocol, not through reduced fees at the trading interface.

As of June 2026, the USDH sunset is complete: all USDH-denominated markets on HyperCore have settled, so the AQAv1 fee discounts no longer apply anywhere. USDC pairs use standard fee tiers. If you still hold USDH, swap it to USDC — feeless via Across on HyperEVM, or on the HyperCore spot order book.

## 8 Strategies to Minimize Your Hyperliquid Fees

Here is the complete playbook for paying as little as possible on every trade:

### 1. Sign Up With a Referral Link

This is step zero. Before you place a single trade, make sure you created your account through a referral link. The 4% discount applies automatically and permanently. If you have not signed up yet, use referral code Concept211. See our [referral program guide](/guides/getting-started/hyperliquid-referral-program-guide) for full details on how the discount works and how to stack it with HYPE staking.

[Create your account with our referral link](https://app.hyperliquid.xyz/join/Concept211)

### 2. Use Limit Orders Instead of Market Orders

Switching from market orders to limit orders reduces your per-trade fee from 0.045% to 0.015% - a 67% reduction. For most strategies, placing a limit order a few cents away from the current price gets you filled within seconds at a fraction of the cost.

### 3. Stake HYPE for the Additional Discount

If you plan to trade on Hyperliquid long-term, staking HYPE is a no-brainer. You earn staking rewards while simultaneously reducing your fees by up to 40%. It is one of the rare cases where a single action improves both your passive income and your active trading costs.

### 4. Stack Every Discount Available

The referral discount (4%) and staking discount (up to 40%) multiply together. Use both. There is no reason not to.

### 5. Be Aware of Your VIP Tier

If your 14-day rolling volume crosses a VIP threshold, your fees drop further. Keep an eye on your volume in the Hyperliquid dashboard and consider consolidating your trading with a [unified account](/guides/trading/unified-accounts-guide) to maximize tier progression. Remember: spot volume counts 2x toward your tier.

### 6. Avoid Unnecessary Order Cancellations and Modifications

While Hyperliquid does not charge for cancellations (no gas fees), excessive modifications in volatile markets can lead to unintended taker fills. Be deliberate with your orders.

### 7. Use Post-Only Orders When Available

Post-only orders guarantee your order will only be placed as a maker order. If it would immediately fill as a taker, the order is rejected. This ensures you always pay the maker rate of 0.015% instead of accidentally paying the taker rate.

### 8. Time Large Orders to Avoid Slippage

For larger positions, consider breaking them into smaller limit orders or using Hyperliquid's TWAP (Time-Weighted Average Price) feature. This avoids eating through the book and paying excessive taker fees on the deeper levels. For more advanced execution strategies, see our [trading tools guide](/guides/trading/hyperliquid-trading-tools).

## What About Funding Rates?

Funding rates are not technically "fees," but they are a cost (or income) that perpetual traders need to understand. For a deep dive, see our complete [funding rates explained guide](/guides/trading/funding-rates-explained). On Hyperliquid:

- **Funding is exchanged between longs and shorts** every hour
- **Positive funding** means longs pay shorts (common in bullish markets)
- **Negative funding** means shorts pay longs (common in bearish markets)
- **Funding rates vary by asset** and are determined by the difference between the perpetual price and the spot index price

Funding rates are not set by Hyperliquid - they emerge from market dynamics. You can view current funding rates for every asset on the Hyperliquid trading interface. Smart traders factor funding into their position management, sometimes earning significant income by taking the funded side. Some traders automate this with [copy trading vaults](/guides/trading/copy-trading-guide) or [delta-neutral yield strategies](/ecosystem/hyperevm-yield-strategies) that systematically harvest funding rate arbitrage.

> **Tip:** Compare live funding rates across Hyperliquid, Binance, and Bybit with our [Funding Rates tool](/tools/funding-rates). Spot arbitrage opportunities and avoid holding positions on the expensive side.

## Deposits and Withdrawals: Complete Cost Breakdown

Moving money in and out of Hyperliquid is one of its cheapest features. Here is exactly what each method costs:

### How Much Does It Cost to Deposit on Hyperliquid?

**Hyperliquid charges zero deposit fees.** Depositing USDC to your Hyperliquid account is completely free - the platform takes no cut. The only cost you pay is a small network gas fee on the source blockchain (typically a few cents on Arbitrum). If you use a cross-chain bridge like Across Protocol to deposit from Ethereum, Polygon, or 20+ other chains, the bridge fee is usually under $1. This makes Hyperliquid one of the cheapest exchanges to fund, especially compared to centralized exchanges that charge $5-25 for crypto deposits from external wallets.

### Deposit Costs by Method

| Deposit Method | Hyperliquid Fee | Network/Bridge Fee | Total Cost | Speed |
|---|---|---|---|---|
| **Native bridge (Arbitrum USDC)** | Free | ~$0.10-0.50 ETH gas | **$0.10-0.50** | 1-2 min |
| **Across Protocol (any chain)** | Free | $0-1 | **$0-1** | 2-10 sec |
| **CEX withdrawal to Arbitrum** | Free | Varies by CEX | **$0-5** | 2-10 min |
| **Direct BTC/ETH/SOL deposit** | Free | Network gas | **Varies** | Varies |

Hyperliquid charges **zero** on all deposits. The only costs are third-party network fees that go to validators, not to Hyperliquid. For a complete guide to all deposit methods, see our [bridge guide](/guides/getting-started/bridge-to-hyperliquid) or [USDC deposit guide](/guides/getting-started/deposit-usdc-to-hyperliquid).

### Withdrawal Costs

| Detail | Value |
|---|---|
| **Hyperliquid withdrawal fee** | 1 USDC (flat) |
| **ETH required on Arbitrum** | None |
| **Processing time** | Seconds to a few minutes |

The flat 1 USDC withdrawal fee covers the validator gas costs on Arbitrum. You do not need ETH in your Arbitrum wallet - the fee is deducted directly from your USDC balance on Hyperliquid. For the full step-by-step flow, see our [withdraw USDC from Hyperliquid guide](/guides/getting-started/withdraw-usdc-from-hyperliquid).

### Hidden Costs on Other Exchanges

For comparison, here is what deposits and withdrawals cost on other platforms:

- **Binance:** Free USDC deposits, but withdrawals cost $1-25 depending on network
- **Bybit:** Free deposits, withdrawals $1-20 depending on network
- **GMX:** Every trade interaction costs $2-20+ in Arbitrum gas, on top of trading fees
- **dYdX:** Free deposits/withdrawals on dYdX Chain, but bridging to/from Cosmos has friction

Hyperliquid's deposit and withdrawal costs are among the lowest in the industry. If you run into issues with deposits not appearing, see our [deposit troubleshooting guide](/troubleshooting/deposit-not-showing). For stuck or pending withdrawals, see our [withdrawal troubleshooting guide](/troubleshooting/withdrawal-issues).

**Stop Paying Full Price** — Every trade without a referral discount is money left on the table. Sign up through our link, lock in your 4% discount, and start trading with competitive fees in DeFi. [Start Trading - Save 4% on Fees](https://app.hyperliquid.xyz/join/Concept211)

## Related Guides

This fees guide is your starting point. For a broader overview of the platform, visit the [Hyperliquid Guide homepage](/). Here are the guides that connect to every aspect of trading costs on Hyperliquid:

**Getting Started:**
- [Beginner Checklist](/guides/getting-started/hyperliquid-beginner-checklist) - Start-to-trade checklist for new users
- [How to Trade on Hyperliquid](/guides/getting-started/how-to-trade-on-hyperliquid) - Complete beginner walkthrough
- [Deposit USDC to Hyperliquid](/guides/getting-started/deposit-usdc-to-hyperliquid) - Fund your account
- [Bridge to Hyperliquid](/guides/getting-started/bridge-to-hyperliquid) - All deposit methods compared
- [Referral Code Guide](/referral) - Lock in your 4% lifetime discount

**Trading Guides:**
- [Order Types Explained](/guides/trading/order-types-guide) - Maker vs taker order strategies
- [Leverage Trading Guide](/guides/trading/leverage-trading-guide) - How margin and liquidation fees work
- [Spot Trading Guide](/guides/trading/spot-trading-guide) - Spot fee rates and optimization
- [Unified Accounts Guide](/guides/trading/unified-accounts-guide) - Consolidate volume for better tiers
- [Copy Trading & Vaults](/guides/trading/copy-trading-guide) - Vault fees and copy trading costs
- [Commodity Trading](/guides/trading/commodities-trading-guide) - HIP-3 market fees for oil, gold, silver
- [Equity Perps](/guides/trading/equity-perps-guide) - Stock trading fees on Hyperliquid
- [Trading Tools](/guides/trading/hyperliquid-trading-tools) - Tools for fee analysis and optimization

**Ecosystem:**
- [HYPE Token Guide](/ecosystem/what-is-hype-token) - Staking for fee discounts up to 40%
- [USDH Stablecoin](/ecosystem/usdh-stablecoin-guide) - Aligned quote assets for lower fees
- [HIP-3 Builder Codes](/ecosystem/hip-3-builder-codes) - How builder market fees work
- [Lending & Borrowing](/guides/trading/lending-borrowing-guide) - DeFi fees on HyperEVM

**Tax & Reporting:**
- [Tax Reporting Guide](/guides/trading/hyperliquid-tax-reporting-guide) - Export PnL, trade history, and funding data for tax filing
- [Best Tax Software for Perps Traders](/guides/trading/best-crypto-tax-software-perps-traders) - Which platforms actually reconcile hourly funding payments

**Tools:**
- [Live Funding Rates](/tools/funding-rates) - Monitor ongoing position costs
- [Open Interest Tracker](/tools/open-interest) - Track market positioning
- [Volume Rankings](/tools/volume) - See where liquidity and volume concentrate