Hyperliquid Trading Fee Calculator

The rate you enter is set by weighted volume

The arithmetic of a fee is the same everywhere: notional × rate, on each side of the trade. What differs on Hyperliquid is how the rate you enter is decided. The fees page defines the tier input as:

14d weighted volume = 14d perps volume + 2 × 14d spot volume

Tiers use a rolling 14-day window, “assessed at the end of each day in UTC”. There is “one fee tier across all assets, including perps, HIP-3 perps, and spot”, but perps and spot each have their own fee schedule — so the same tier gives you different numbers depending on what you trade. This page ships no rates; the fields start blank so that the only number in them is yours.

Worked example

Illustrative volumes, not a claim about any tier boundary. Over the last 14 days, a master account traded 2,000,000 USDC of perps and a sub-account traded another 1,000,000 of perps plus 1,000,000 of spot:

Component	Volume	Weight	Counts as
Master, perps	2,000,000	1	2,000,000
Sub-account, perps	1,000,000	1	1,000,000
Sub-account, spot	1,000,000	2	2,000,000
14d weighted volume			5,000,000

Both accounts then trade at whatever tier 5,000,000 reaches on the current schedule. Because spot counts double, the sub-account’s spot trading can move the master’s perp rate if it crosses a tier boundary.

Your own activity feeds the same number. Twenty round trips a month at 20,000 notional is 800,000 of volume a month (entry and exit are both trades), or roughly 373,000 per 14-day window. Enter those trades in the calculator above, with your current rates, to see what the fees cost; fee drag over a year shows how that compounds against returns.

Sub-accounts share a tier; vaults do not

Hyperliquid counts sub-account volume toward the master, and every sub-account trades at the master’s tier. Splitting strategies across sub-accounts therefore does not dilute your tier — with one exception below: referral discounts do not apply to sub-accounts. Vault volume is separate and does not count toward the master’s tier.

Maker rebates

Maker rebates exist, tiered by your 14-day share of maker volume rather than by total volume, and they “are paid out continuously on each trade directly to the trading wallet”. To model one here, enter the rebate as a negative maker fee; the round-trip row then shows the net.

Maker vs taker fees explains the general trade-off. To make sure an order you intend as maker does not cross the spread and pay taker, use a post-only order — Hyperliquid rejects one that would have matched immediately with Post only order would have immediately matched, bbo was {bbo}.

Discounts: HYPE staking and referrals

Two discounts can sit on top of the tier rate:

• HYPE staking. Staking tiers give a percentage discount. A staking user can be linked to a separate trading user, but the fees page warns that the staking user can then unilaterally transfer all of the trading user’s funds, and that linking is permanent. Read that section before linking anything.
• Referral discount. A percentage discount for a capped amount of initial volume, set out on the referrals page. “Referral discounts do not apply to vaults or sub-accounts.”

The fees page also lists modifiers for aligned quote assets, stable-pair spot and HIP-3 markets. How these combine is defined by the page’s own developer formula, a feeRates(...) function that takes your rates and activeReferralDiscount from the userFees info request. If you are computing fees in code, mirror that function rather than re-deriving the tier table.

Getting your rate from the API

Query userFees with the master account address. If your client signs with an API wallet, remember that the wallet only signs: the docs call querying the agent address “a common pitfall” that returns an empty result. The Hyperliquid API setup guide covers that configuration.

Costs that are not trading fees

Two things that look like fees are not charged:

• Liquidations carry no clearance fee. The liquidations page stresses this; the cost is the price the position is closed at (plus, in a backstop liquidation, the maintenance margin, which is not returned). The Hyperliquid liquidation price calculator covers the mechanism.
• Funding is peer-to-peer, with no fee on the payments. It is still a cost of holding, and it settles hourly — see the Hyperliquid funding calculator.

Trading fees themselves go to HLP, the assistance fund and deployers, per the fees page.

FAQ

How is my Hyperliquid fee tier decided?

By rolling 14-day weighted volume, assessed at the end of each day in UTC. Weighted volume is 14-day perps volume plus twice 14-day spot volume, and one tier applies across perps, HIP-3 perps and spot, although perps and spot have separate fee schedules.

Do Hyperliquid sub-accounts have their own fee tier?

No. Hyperliquid counts sub-account volume toward the master account, and all sub-accounts share the master's tier. Vault volume is treated separately. Referral discounts do not apply to sub-accounts or vaults.

How do Hyperliquid maker rebates work?

Maker rebates are tiered by your 14-day share of maker volume and are paid out continuously on each trade, directly to the trading wallet. In this calculator, enter a rebate as a negative maker fee so the round trip reflects money received on the maker side.

Does staking HYPE lower my Hyperliquid fees?

Yes, staking tiers give a percentage fee discount; the tiers are on Hyperliquid's fees page. A staking account can be linked to a separate trading account, but the docs warn that the staking account can then transfer all of the trading account's funds and that the link is permanent.

Where do I find my actual Hyperliquid fee rate?

Hyperliquid's fees page publishes the schedules and a developer formula that computes effective rates from the userFees info request. Query userFees with your master account address, not an API wallet address, because API wallets only sign and queries against them return empty.

Related

• Trading fee calculator (general)
• Maker vs taker fees
• Fee drag over a year
• Hyperliquid API setup and agent wallets
• Hyperliquid funding rate calculator