Fees, tiers and rebates

Whether your order rested on the book or crossed the spread decides your rate: makers pay less than takers. High-volume makers pay nothing and the largest earn a rebate. Fees go to HLP, market deployers and the assistance fund, which converts its share to HYPE and burns it.

A $10,000 taker fill, worked

For a positive fee:

rate = tier_rate * (1 - staking_discount) * (1 - referral_discount)
fee  = rate * price * size

$10,000 perp taker fill, tier 0	Rate	Fee
No discount	0.045%	$4.50
Over 10,000 HYPE staked (20% off)	0.036%	$3.60
Plus a referral code	0.03456%	$3.456

Discounts multiply: 0.045% x 0.8 x 0.96 = 0.03456%.

One tier across perps, HIP-3 perps and spot

Your one tier comes from rolling 14-day volume, reassessed at the end of each UTC day. Sub-accounts count toward and share the master’s tier; vaults count separately.

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

• Schedules: perps and spot have their own rates per tier; spot is dearer.
• Staking discount on maker and taker fees, for HYPE staked by the account or a linked staking account (staking).
• Referral discount: not for vaults or sub-accounts (referrals).
• Maker rebates: paid on each trade to the trading wallet.

What you pay the fee in

Perps pay in the dex’s collateral. On spot a sell pays in the quote asset and a buy in the token bought, so builder codes (quote or collateral only) skip spot buys. HIP-1 token fees go to the deployer up to its chosen share, the rest burned (HIP-1).

Markets with their own rules

• HIP-3: the deployer’s share, 0 to 300 per cent of the protocol fee, is added on top; above 100 per cent the protocol fee rises to match. Growth mode cuts all-in fees by at least 90 per cent (HIP-3).
• Outcome markets: only the closing side pays, at spot rates scaled by the deployer’s fee scale, no rebates (settlement).
• Builder fee: at most 0.1 per cent on perps, 1 per cent on spot (builder codes).

The numbers

Base rates by tier, before any discount:

Tier	14d weighted volume	Perp taker	Perp maker	Spot taker	Spot maker
0	$5M or less	0.045%	0.015%	0.070%	0.040%
1	over $5M	0.040%	0.012%	0.060%	0.030%
2	over $25M	0.035%	0.008%	0.050%	0.020%
3	over $100M	0.030%	0.004%	0.040%	0.010%
4	over $500M	0.028%	0.000%	0.035%	0.000%
5	over $2B	0.026%	0.000%	0.030%	0.000%
6	over $7B	0.024%	0.000%	0.025%	0.000%

Staking discounts, as rate * (1 - discount):

Staking tier	HYPE staked	Discount
Wood	over 10	5%
Bronze	over 100	10%
Silver	over 1,000	15%
Gold	over 10,000	20%
Platinum	over 100,000	30%
Diamond	over 500,000	40%

Maker rebates:

Rebate tier	Share of 14d weighted maker volume	Maker fee
1	over 0.5%	-0.001%
2	over 1.5%	-0.002%
3	over 3.0%	-0.003%

Multipliers:

Case	Effect
Spot volume toward tier	x 2
Pair of two spot quote assets	taker fee, maker rebate and volume contribution x 0.2
Aligned quote asset	taker fee x 0.8, maker rebate x 1.5, volume contribution x 1.2
Referral code	4% off fees, first $25M of volume
HIP-3 growth mode	fees, rebates and volume contribution reduced by at least 90%

Lowering and checking your fees

• Post-only orders guarantee the maker rate: they are cancelled rather than filled as a taker (order types).
• Every fill reports fee (including any builder fee) and feeToken.

Danger

Staking linking lets HYPE staked on one address discount fees on another. It is permanent, and the staking address can move all funds out of the trading address in one irreversible transaction. Link only addresses you control.

Reading your rates from code

userFees returns an account’s current rates, as fractions ("0.00045" is 0.045 per cent); cross is taker, add is maker.

Field	Meaning
userCrossRate, userAddRate	perp taker and maker rates, staking discount included
userSpotCrossRate, userSpotAddRate	spot taker and maker rates
activeStakingDiscount, activeReferralDiscount	the discounts in force
feeSchedule.tiers.vip	volume tiers
feeSchedule.tiers.mm	rebate tiers, as makerFractionCutoff
stakingDiscountTiers	thresholds as bpsOfMaxSupply, not in HYPE
dailyUserVlm	daily taker (userCross) and maker (userAdd) volume

The official docs publish a fee function adding the stable-pair, HIP-3, growth mode and aligned-quote multipliers. The referral discount applies only to positive rates, never to a rebate.

Where the fee docs disagree

• The fees page says spot and HIP-3 deployers may keep up to 50 per cent of their assets’ fees; the HIP-1 page says up to 100 per cent of fees collected in the token, only each trade’s buy side. The bases differ; the split is unmeasured here.

The official docs differ

The HIP-4 standard page still says outcome fees are zero. Measured on mainnet over 7,256 fills: every buy paid nothing; every sell paid spot rates scaled by the deployer’s fee scale, less the referral discount. The fees page’s outcome section agrees.

For codes, rewards and the discount, see Referrals. For the fee an app adds, see Builder codes.