Hyperliquid charges a base taker fee of 0.045% and a base maker fee of 0.015% on perpetuals, with rebates that scale down with 14-day rolling volume and HYPE staking. Spot trades carry slightly higher base fees (0.07% taker, 0.04% maker), funding is settled hourly between longs and shorts, and USDC withdrawals back to Arbitrum cost a flat 1 USDC. This guide breaks down every tier, the funding mechanism, and how Hyperliquid compares to dYdX, Binance, Bybit, and Drift. Updated May 2026.
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Maker and taker fees are the per-trade charges Hyperliquid takes on each fill. Takers cross the spread and pay 0.045% on perps. Makers post resting orders and pay 0.015% on perps. Spot fees run higher at 0.07% taker and 0.04% maker. All fees are charged in USDC and deducted from the trade's notional value at execution.
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The base schedule applies to wallets in the entry tier with under $5M of 14-day rolling volume. Above that, taker fees fall in steps to 0.024% for accounts above $5B in 14-day volume, and makers earn a small rebate at the highest tiers. The full schedule is published on the Hyperliquid fee documentation, which Hyperliquid updates as the protocol changes parameters via governance.
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Two operational notes matter. First, Hyperliquid uses a "fee on notional" model, not on margin, so a 10x leveraged $10,000 position pays fees on the full $10,000, not on the $1,000 of margin. Second, fees are debited from the account's USDC balance, not netted from PnL, so a trader can pay fees on a losing trade and watch the balance fall faster than the mark price would suggest.
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Hyperliquid drops fees in steps as a wallet's 14-day rolling USD volume rises. The entry tier covers $0 to $5M. Above $5M, taker fees compress from 0.045% to 0.040%, then to 0.035% at $25M, with further reductions up to 0.024% at $5B+. Maker fees move from 0.015% down to a rebate at the top tier. The window rolls daily.
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Volume is measured as the sum of perp and spot notional traded by the wallet over the trailing 14 days. The tier recalculates at each fill, so a trader who crosses $5M during the day starts paying the lower rate immediately on the next trade. Sub-accounts and vault deposits aggregate to the master wallet for tier purposes, a structure described in the fee schedule.
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The tiering is meaningfully more aggressive than centralized exchanges at the high end but starts higher at the low end. A retail wallet doing $100,000 a month pays 0.045% on Hyperliquid versus 0.05% on Binance's default tier. A market maker doing $1B a month pays 0.030% on Hyperliquid versus 0.020% on Binance VIP 8. The breakeven is around $300M of monthly volume for taker-heavy flow.
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Staking HYPE, Hyperliquid's native token, unlocks an additional fee discount on top of the volume tier. The discount scales with the amount staked. Stakers receive up to 40% off taker fees and proportionally lower maker fees, with the top discount reserved for wallets staking 500,000+ HYPE. Stake is locked for an unbonding period of 7 days.
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The discount applies across both perps and spot. A wallet on the entry volume tier (0.045% taker) staking enough HYPE for the 40% discount pays an effective 0.027% taker fee. The discount stacks multiplicatively with the volume tier, so a high-volume staker can reach taker fees in the 0.014%-0.018% band, which is competitive with the deepest VIP tiers on Binance and Bybit. Staking economics and discount tiers are documented in the HYPE token docs.
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HYPE stakers also earn a share of protocol fees redirected to the assistance fund and staking rewards pool. This is a separate revenue stream from the fee discount and does not require active trading.
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Funding is a periodic payment between long and short perp holders that keeps the perp price tethered to the underlying index. Hyperliquid settles funding hourly, charging or paying each open position based on the difference between the perp mark and the spot index. The funding rate cap is 4% per hour in extreme conditions, with typical rates between -0.01% and 0.01% per hour.
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The rate is computed from a premium component (perp-vs-index basis) plus a small interest component fixed at 0.01% per 8-hour day, normalized to the hourly settlement cadence. When the perp trades above index, longs pay shorts. When it trades below, shorts pay longs. Hyperliquid's hourly cadence is more frequent than most centralized exchanges, which settle every 8 hours, and shortens the duration of basis dislocations. Mechanism details are in the funding section of the docs.
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Funding is paid in USDC and debited or credited directly to the margin balance at each hour boundary. Positions opened and closed within the same hour pay no funding. This makes Hyperliquid friendlier to short-term scalpers than venues with 8-hour funding, where intra-period closures can still incur a full payment depending on snapshot timing.
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Withdrawing USDC from Hyperliquid back to Arbitrum costs a flat 1 USDC per withdrawal. There are no percentage fees, no minimum withdrawal beyond covering the 1 USDC, and no separate gas charge. The flat fee covers Hyperliquid's settlement to Arbitrum L1. Deposits from Arbitrum are free apart from the user's L1 gas.
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The 1 USDC flat is unusually cheap compared with centralized exchanges, where USDC withdrawals to Arbitrum or Ethereum can cost $2 to $15 depending on the venue and network congestion. Hyperliquid achieves this by batching withdrawals into a single validator-signed settlement transaction on Arbitrum, splitting the gas across users. Implementation is described in the bridge documentation.
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Cross-chain withdrawals to other networks (Ethereum, Base, Solana) route through bridges and incur the bridge's own fees on top of the 1 USDC. For step-by-step withdrawal mechanics including security delay windows, see support/en/articles/15191996. For deposit routes from chains other than Arbitrum, see support/en/articles/15191997.
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Hyperliquid sits between centralized exchange VIP tiers and other onchain perp venues. Base taker fees of 0.045% are higher than Binance's 0.05% retail and lower than dYdX v4's 0.05%. At the high end, Hyperliquid's 0.024% top tier undercuts dYdX and Drift but loses to Binance and Bybit at deepest VIP. Withdrawal costs strongly favor Hyperliquid versus centralized venues.

Sources: Hyperliquid fee docs, dYdX v4 trading fees, Binance futures fee schedule, Bybit trading fees, and Drift Protocol fees. Tiers and rebates as published May 2026.
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The comparison shifts when withdrawal economics are included. A trader rotating $50,000 monthly between exchange and self-custody pays $40-$200 a month on Binance/Bybit withdrawals versus roughly $4 on Hyperliquid (four withdrawals at 1 USDC each). For active retail flow under $1M monthly notional, total cost-of-trading on Hyperliquid usually beats centralized venues despite the higher headline taker rate.
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Hyperliquid takes USDC deposits over Arbitrum, but most stablecoin liquidity sits elsewhere, on Ethereum, Base, Solana, Polygon, and Optimism. Eco Routes lets traders move USDC into Hyperliquid's Arbitrum bridge from any supported chain in a single transaction, with onchain settlement typically completing in under a minute. The routing layer handles bridge selection and gas, so a trader funding a Hyperliquid account from Base or Solana sees one signature instead of a three-step manual bridge plus deposit.
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Sources and methodology. Fee schedules and funding mechanics pulled from Hyperliquid docs, dYdX v4 docs, Binance fee page, Bybit fee page, and Drift docs in May 2026. HYPE staking discount details from the HYPE token docs. Figures refresh quarterly. Updated May 2026.
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