Hyperliquid fee tiers and how to reach a lower one
Verified against Hyperliquid docs: Fees · by Hyperliquid Academy
The mechanic
Every venue has volume tiers. Two details here are worth knowing precisely.
The window is fourteen days, rolling and weighted, not a calendar month. There is no reset date to sprint toward, and no cliff at month end. Your tier drifts with your actual recent activity.
Spot volume counts double. A dollar of spot volume moves you toward the next threshold as fast as two dollars of perpetual volume. If you are near a threshold and want to cross it, spot is the efficient route.
What each threshold is worth
| Tier | 14-day volume | Taker | Maker | Taker with referral |
|---|---|---|---|---|
| 0 | Under $5M | 0.045% | 0.015% | 0.0432% |
| 1 | Over $5M | 0.04% | 0.012% | 0.0384% |
| 2 | Over $25M | 0.035% | 0.008% | 0.0336% |
| 3 | Over $100M | 0.03% | 0.004% | 0.0288% |
| 4 | Over $500M | 0.028% | 0% | 0.0269% |
| 5 | Over $2B | 0.026% | 0% | 0.025% |
| 6 | Over $7B | 0.024% | 0% | 0.023% |
Read the last column: it is the taker rate with a referral code applied, which is the number most readers will actually pay. Notice that a referral code at the entry tier gets you most of the way to what the first volume threshold delivers, without trading $5M of notional to get there.
The practical reading
For anyone trading below roughly $5M of volume per fortnight, tiers are irrelevant and the referral and staking discounts are the only levers that matter. Tier chasing is a professional’s concern.
The maker side is the interesting half
Maker fees fall to zero from the $500M tier and stay there. Beyond that, the maker rebate tiers pay you:
| Maker volume share | Rebate |
|---|---|
| Above 0.5% | Paid, not charged |
| Above 1.5% | Paid more |
| Above 3.0% | Paid most |
The exact figures are in the fee documentation and in our fee overview. The structural point is that at scale, providing liquidity on this venue is a revenue line rather than a cost line, which is why market-making strategies concentrate here.
Spot tiers
| Tier | 14-day volume | Taker | Maker | Taker with referral |
|---|---|---|---|---|
| 0 | Under $5M | 0.07% | 0.04% | 0.0672% |
| 1 | Over $5M | 0.06% | 0.03% | 0.0576% |
| 2 | Over $25M | 0.05% | 0.02% | 0.048% |
| 3 | Over $100M | 0.04% | 0.01% | 0.0384% |
| 4 | Over $500M | 0.035% | 0% | 0.0336% |
| 5 | Over $2B | 0.03% | 0% | 0.0288% |
| 6 | Over $7B | 0.025% | 0% | 0.024% |
How to actually move down a tier
Only two honest routes exist, and one bad one.
Trade more, on purpose. If your strategy already generates volume, the tier follows. Do not invent volume to chase a tier: the fees you pay generating it exceed what the lower tier saves at any realistic size.
Use spot for the volume you were going to generate anyway. Double counting makes this free efficiency.
Do not wash trade. Trading against yourself to manufacture volume is prohibited and puts the account at risk, and the fees paid on the wash exceed the saving in any case.
What else changes your rate
Volume is only one of three levers, and for most people it is the least accessible. Staking discounts reach far deeper than a couple of tiers, and the referral discount costs nothing and applies immediately. The fee calculator combines all three for your own volume.
Frequently asked questions
How is the fourteen-day volume calculated?
It is a rolling weighted figure across your account, not a calendar-month total. It updates continuously, so your tier can move both down and back up as activity changes.
Does spot volume really count twice?
Yes. Spot volume contributes double toward the volume that determines your tier, which makes it the cheapest way to cross a threshold per dollar of risk taken.
Where do I see my current tier?
The app shows your tier and your fourteen-day volume on the fees screen for your account.
Do sub-accounts share my tier?
The clearinghouse treats sub-accounts as separate accounts, which is also why a referral discount does not extend to them. Do not assume volume pools across them.
Sources
- Hyperliquid docs: Feeshyperliquid.gitbook.io
We link the primary source for every number on this page. If a figure here disagrees with the official documentation, the documentation is right and we want to know.