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Maker and taker fees
What each fill costs, who pays more, and how the rate comes down.
Every fill pays a fee. The taker, whose order meets an order already resting in the book, pays the taker rate; the maker, whose resting order was filled, pays the lower maker rate.
At the base tier on 2026-10-05: perps 0.045% taker and 0.015% maker, spot 0.07% and 0.04% (Hyperliquid's live schedule, below). Rates fall with an account's 14-day volume, spot counting double, and the tier is set at the end of each UTC day. The largest makers earn a small rebate instead; staking HYPE takes 5% to 40% off; a referral takes 4% off the first $25M of volume.
On builder exchanges the deployer adds its own share on top: 0–300%, or 0–100% in growth mode, and growth mode cuts all-in fees by at least 90%, to a taker rate of 0.0045%–0.009% (Hyperliquid's fee documentation, read 2026-10-05).
Fees go to HLP, the assistance fund and the exchanges' deployers; the assistance fund turns its share into HYPE and burns it. For a taker, fees are often the larger part of a round trip: twice 0.045% is 9 basis points, many times BTC's impact spread.
Live
Hyperliquid's fee schedule as it returns it now, and a taker round trip on the busiest main-exchange perps: the impact spread plus the taker fee twice.