Anello Team · Nov 1, 2026 · 6 min read
Hyperliquid Fees and Builder Codes Explained
Hyperliquid base fees are 0.015% maker and 0.045% taker on perps, 0.04% and 0.07% on spot. How tiers, discounts and builder codes change what you pay.
At the base tier, Hyperliquid, a decentralized exchange, charges 0.015% maker and 0.045% taker on perps, and 0.04% maker and 0.07% taker on spot. Volume tiers and HYPE staking can lower those rates. If you trade through an app rather than Hyperliquid’s own site, that app may add a builder fee on top.
All rates below come from Hyperliquid’s fee schedule and builder code docs, checked on November 1, 2026. Hyperliquid can change them, so check the source before relying on a figure.
What does a Hyperliquid trade cost?
A fill can carry up to two fees: Hyperliquid’s trading fee and a builder fee. A maker order rests on the book and adds liquidity. A taker order fills against a resting order and removes liquidity.
| Market | Maker | Taker | Taker fee on $10,000 |
|---|---|---|---|
| Perps, base tier | 0.015% | 0.045% | $4.50 |
| Spot, base tier | 0.04% | 0.07% | $7.00 |
Spot costs more than perps at the same tier. That surprises people, because perps feel like the expensive product. For a short hold it is true that perps are cheaper to enter and exit. For a long hold, funding changes the math (more on that below).
How do Hyperliquid fee tiers work?
Your tier depends on rolling 14-day weighted volume, calculated as perps volume plus two times spot volume. So $1 million of perps and $1 million of spot counts as $3 million. Fees are assessed daily in UTC, sub-accounts share the master account’s tier, and one tier applies across perps, HIP-3 (builder-deployed perps) and spot.
| 14-day weighted volume | Perps maker / taker | Spot maker / taker |
|---|---|---|
| Under $5M | 0.015% / 0.045% | 0.04% / 0.07% |
| Over $5M | 0.012% / 0.040% | 0.03% / 0.06% |
| Over $25M | 0.008% / 0.035% | 0.02% / 0.05% |
| Over $100M | 0.004% / 0.030% | 0.01% / 0.04% |
| Over $500M | 0% / 0.028% | 0% / 0.035% |
Two higher tiers, over $2 billion and over $7 billion, cut taker fees further.
Separately, makers with a large share of total maker volume can earn rebates of 0.001% to 0.003% per fill. The bar starts at 0.5% of maker volume on the venue, so this is a market-maker program, not something a typical account reaches.
How much does staking HYPE save?
Staking HYPE discounts your trading fees, based on the amount staked.
| HYPE staked | Fee discount |
|---|---|
| Over 10 | 5% |
| Over 100 | 10% |
| Over 1,000 | 15% |
| Over 10,000 | 20% |
| Over 100,000 | 30% |
| Over 500,000 | 40% |
At the 15% tier, the base perp taker fee drops from 0.045% to about 0.038%. On $10,000, that saves $0.67. Before buying HYPE for the discount, work out how much volume you would need to cover the price risk of holding it. You can also link a staking wallet to a separate trading wallet, but the link is permanent and both must be controlled by the same person.
Which markets have different fees?
A few market types do not follow the standard table:
- Pairs quoted in aligned quote assets get 20% lower taker fees, 50% better maker rebates and 20% more volume credit.
- Spot pairs between two quote assets get 80% lower taker fees, with 80% less volume credit.
- HIP-3 perps let deployers add a fee share. Growth mode markets cut all-in fees by at least 90%, so a HIP-3 market can cost much more or much less than a main perp.
Referral discounts also exist, and apply to your first $25 million of volume. The schedule does not publish a percentage, so check the rate shown for your wallet.
What is a Hyperliquid builder code?
A builder code lets an app earn a fee on the fills it sends for you. It is a common way for apps built on Hyperliquid to make money, and the fee is processed onchain as part of Hyperliquid’s fee logic.
The rules, from Hyperliquid’s docs:
- You approve first. Each builder needs a signed approval of a maximum fee, from your main wallet. An agent wallet cannot sign it.
- You can revoke it. Approval can be withdrawn at any time, and each user can have up to 10 active approvals.
- There is a hard cap. Builder fees can be at most 0.1% on perps and 1% on spot.
- Spot buys are excluded. On spot, builder fees apply only on the sell side. On perps they apply to both sides.
The number to read is the maximum in the approval, not the rate on the marketing page. The maximum is the most that app can charge you without asking you to sign again. It can be higher than the current rate. Anello’s own approval is 0.1%, which is above the rates we charge, so don’t take any app’s current rate as a promise about its future rate, including ours.
What does a builder fee add in practice?
Builder fees look small next to the venue fee, but they repeat on every eligible fill, so they matter most for high-turnover strategies such as grids.
Anello charges 0.02% on spot sells, nothing on spot buys and 0.01% per fill on terminal perps. Here is a $1,000 grid round trip at base maker rates, using post-only orders:
| Fee | Buy $1,000 | Sell $1,000 | Round trip |
|---|---|---|---|
| Hyperliquid (0.04% maker) | $0.40 | $0.40 | $0.80 |
| Anello builder fee | $0 | $0.20 | $0.20 |
| Total | $0.40 | $0.60 | $1.00 |
That is 0.10% of the order size. Your grid spacing has to clear that with room to spare, which is why grid spacing is the first thing to check when you set up a grid. The Anello fee breakdown covers this math in more detail.
A builder fee is not always worth paying. Hyperliquid’s own app has no builder fee, so if you only place the occasional manual trade and don’t need anything else, that may be the better fit. You would pay a builder fee for something the app adds, such as a spot grid bot. Anello’s scheduled DCA has no Anello fee, and you still pay Hyperliquid’s fee. Bots can lose money, and low fees don’t change that.
Is funding a Hyperliquid fee?
No. Funding is a payment between longs and shorts, charged hourly, and Hyperliquid’s docs say no fees are collected on it. It can still cost more than your trading fees: at the 0.00125% hourly baseline, a $10,000 long pays about $3 a day, while a base-tier taker entry costs $4.50 once. At that rate, funding passes $9 of taker entry and exit fees after three days.
Funding applies to perps only. Spot positions don’t pay it. The Hyperliquid funding rates guide explains how the rate is set, and spot vs perps covers the wider tradeoff.
Sources
- Hyperliquid: Fees, checked November 1, 2026
- Hyperliquid: Builder codes, checked November 1, 2026
- Hyperliquid: Funding, checked November 1, 2026
Nothing in this article is financial advice. Trading and trading bots can lose money, and fee rates can change.
Frequently asked questions
- What are Hyperliquid's trading fees?
- At the base tier, perps cost 0.015% for makers and 0.045% for takers, and spot costs 0.04% for makers and 0.07% for takers. Rates fall as your 14-day weighted volume rises. These rates were checked on November 1, 2026, and Hyperliquid can change them.
- What is a builder code on Hyperliquid?
- A builder code lets an app earn a fee on the fills it sends for you. You approve a maximum fee from your main wallet first, and you can revoke that approval at any time. The fee is added to Hyperliquid's own trading fee.
- What is the maximum builder fee on Hyperliquid?
- Hyperliquid caps builder fees at 0.1% on perps and 1% on spot. On spot, the fee applies to the sell side only, so buys carry no builder fee. Apps can charge less than the cap, and the maximum you approve sets the ceiling for that app.
- Does Hyperliquid charge a fee on funding payments?
- No. Funding moves directly between longs and shorts, and Hyperliquid's docs say no fees are collected on those payments. Funding can still be a large cost on a long-held perp, because it is charged on the full position size every hour.
- How do I lower my Hyperliquid fees?
- Post maker orders instead of crossing the spread, because maker rates are lower. Fee tiers follow 14-day weighted volume, where spot counts double. Staking HYPE gives a discount of 5% to 40% depending on the amount staked.