MARKET MAKERS & PRO TRADERS

Hyperliquid for Market Makers and Bot Traders

What fees, rebates and limits look like once you trade at volume, taken from Hyperliquid's docs and checked against its API. Written by a trader who has built trading bots since 2016 and traded on Hyperliquid since February 2024.

Maker fee from $500M 14-day volume

-0.003%

Best maker rebate (3%+ maker share)

~0.009%

Taker fee on growth-mode HIP-3

5,000

Max open orders per account

Fees at Volume

Your tier is set by 14-day weighted volume across perps and spot, with spot counted twice. Perp rates from the fee docs:

Tier	14-day volume	Taker	Maker
0	under $5M	0.045%	0.015%
1	over $5M	0.040%	0.012%
2	over $25M	0.035%	0.008%
3	over $100M	0.030%	0.004%
4	over $500M	0.028%	0%
5	over $2B	0.026%	0%
6	over $7B	0.024%	0%

Staking HYPE takes 5% (10 HYPE) to 40% (500,000 HYPE) off both columns, and a staking account can be linked to a separate trading account. All sub-accounts share the master account's tier. The fee tiers guide has the full staking-by-tier grid.

Maker Rebates Are Based on Market Share

Rebates come from a separate schedule. They depend on your share of all maker volume on the exchange over 14 days, not on your own dollar volume:

Rebate tier	Share of 14-day maker volume	Maker fee
1	over 0.5%	-0.001%
2	over 1.5%	-0.002%
3	over 3.0%	-0.003%

Hyperliquid's API reported about $77 billion of exchange volume over the two weeks to October 28, 2026. At that level, the first rebate tier takes roughly $385 million of credited maker volume in 14 days. Below it, the goal is reaching tier 4, where the maker fee hits zero. The market-making guide works through the economics, and the fee calculator shows which schedule applies at your volume.

Growth Mode Changes the Math on HIP-3

Most HIP-3 markets (stocks, indexes, FX and commodities on trade.xyz and other builders) run in growth mode. Hyperliquid's docs say it cuts all-in fees by at least 90%, and cuts maker rebates, volume credit toward fee tiers and address rate-limit credit by 90% too. A maker there pays about 0.003% and a taker about 0.009%, but $10M of growth-mode volume counts like $1M toward your tier.

If you quote both kinds of market, track the volume Hyperliquid credits you (the userFees endpoint), not your own fill totals. Our growth-mode list shows which markets have it right now.

API Limits a Quoting Bot Runs Into

Limit	What the docs set
Address actions	One per $1 of cumulative volume, plus a 10,000-request starting buffer. Cancels get extra headroom.
IP weight (REST)	1,200 per minute. An order action weighs 1 + floor(batch size / 40).
WebSocket	10 connections, 1,000 subscriptions and 2,000 sent messages a minute per IP.
Open orders	1,000, plus one per $5M of volume, up to 5,000.
Congestion	Each address limited to 2x its previous day’s maker share of block space.

Source: rate limits and user limits. A batched action counts once against the IP limit and once per order against the address limit. Orders and cancels cost no gas (zero gas explained), and ALO orders can pay a priority fee in HYPE for a better queue spot. The API guide covers signing, WebSocket feeds and third-party data providers.

Accounts and Setup

Agent (API) wallets sign orders but can't withdraw. Use one per bot process so nonces don't collide.
Sub-accounts separate strategies under one fee tier, each with its own address rate limit.
Vaults are separate accounts for fees and volume. That fits a strategy you run for outside depositors, like HLP.
Account mode (Standard, Unified or Portfolio Margin) decides how collateral is shared across positions. See the unified accounts guide.

What Our Referral Link Does at Volume

The referral discount is 4% off fees on an account's first $25 million of volume. At the base taker rate that's about $450 in total, and a bot doing $1M a day uses it up in under a month. It isn't why anyone picks a venue. It's free, though, and it can only be attached when the account is created. It also doesn't apply to sub-accounts or vaults, so open the master wallet through the link before you create sub-accounts or agent wallets.

Open the Master Account With 4% Off →

Guides for High-Volume Traders

Frequently Asked Questions

Makers pay 0.015% on perps at the base tier, falling with 14-day volume to 0.012%, 0.008% and 0.004%, and to 0% from the $500M tier upward. HYPE staking takes 5% to 40% off. Rebates of -0.001% to -0.003% go only to accounts with more than 0.5% of all maker volume over 14 days.

Yes. Hyperliquid’s fee docs say all sub-accounts share the same fee tier, so volume on any of them counts for the group. Vault volume is counted separately. Sub-accounts are separate users for address rate limits, and the referral discount does not apply to sub-accounts or vaults.

It is small at scale. The 4% discount covers the first $25 million of volume, which at the base taker rate is worth about $450 in total, and less for a maker. It costs nothing and can only be added when the account is created, so sign up the master wallet through a referral link before creating sub-accounts or agent wallets.

Growth mode is a per-market HIP-3 setting that cuts all-in fees by at least 90%. It also cuts maker rebates, volume credit toward fee tiers and address rate-limit credit by 90%. Makers pay about 0.003% on growth-mode markets, but their volume there counts for about a tenth toward tiers.

Setting Up a Trading Account?

Sign up through our link for 4% off fees on the first $25M of volume. Do it with the master wallet, before sub-accounts and agent wallets.

Join Hyperliquid