Hyperliquid
Perpetual and spot order-book exchange running on its own Layer 1 blockchain (HyperCore and HyperEVM).
Volume (24h)$2.47BUSDT markets tracked live
Coins459with USDT pairs
Spot / Perp markets305 / 178tracked by ArbiLayer
Base fees0.015% / 0.045%maker / taker, perp
About Hyperliquid
Perpetual and spot order-book exchange running on its own Layer 1 blockchain (HyperCore and HyperEVM).
Trading fees
Official fee schedule ↗SpotBase tier
Maker0.04%
Taker0.07%
PerpetualsBase tier
Maker0.015%
Taker0.045%
- HYPE staking discount: 5% (>10 HYPE) up to 40% (>500,000 HYPE)
- Referral code: 4% fee discount on the first $25M of volume
- Maker rebates of -0.001% to -0.003% for accounts above 0.5% / 1.5% / 3.0% of maker volume share
- Aligned quote assets: 20% lower taker fees and 50% better maker rebates
- Tiers use rolling 14-day volume; spot volume counts double
New users
Referral code gives a 4% fee discount on the first $25M of volume
- 4% trading-fee discount for referred users on their first $25M volume
- Referrers receive 10% of referred users' fees (less the referee discount)
- No official points programme or second airdrop has been announced; the HYPE genesis airdrop claim has ended
Claim on Hyperliquid ↗Terms and regional eligibility vary. Check the offer page before signing up.
Volume tiers + HYPE staking discount
VIP program ↗Tier is based on rolling 14-day weighted volume (spot counts double), assessed daily in UTC; staking discount applied on top.
TierRequirementSpot makerSpot takerPerp makerPerp taker
Tier 0Base0.04%0.07%0.015%0.045%
Tier 1> $5M 14d volume0.03%0.06%0.012%0.04%
Tier 2> $25M 14d volume0.02%0.05%0.008%0.035%
Tier 3> $100M 14d volume0.01%0.04%0.004%0.03%
Tier 4> $500M 14d volume0%0.035%0%0.028%
Tier 5> $2B 14d volume0%0.03%0%0.026%
Tier 6> $7B 14d volume0%0.025%0%0.024%
Staking > 10 HYPE> 10 HYPE staked: 5% discount————
Staking > 100 HYPE> 100 HYPE staked: 10% discount————
Staking > 1,000 HYPE> 1,000 HYPE staked: 15% discount————
Staking > 10,000 HYPE> 10,000 HYPE staked: 20% discount————
Staking > 100,000 HYPE> 100,000 HYPE staked: 30% discount————
Staking > 500,000 HYPE> 500,000 HYPE staked: 40% discount————
ReferralSign up with a referral code: 4% discount on first $25M volume————
- Hyperliquid Bridge (Arbitrum <> Hyperliquid L1) TVL about $7.24B per DefiLlama (2026-10-01)
- HLP protocol vault TVL about $183M per DefiLlama (2026-10-01)
- Order books, margin and liquidations run fully on-chain on HyperCore
Company
Founders
JYJeff YanCo-founder
I(iliensinc (pseudonymous)Co-founder
Leadership
JYJeff YanFounder, Hyperliquid Labs
Products
Perpetual futuresSpotHLP vaultUser vaultsHYPE stakingHyperEVM smart contracts
Not available in
United StatesOntario (Canada)CubaIranSyriaNorth KoreaCrimea, Donetsk and Luhansk regions of UkraineOther sanctioned jurisdictions
Incidents & regulatory history
- 202512 Mar 2025: a trader withdrew margin from a large 50x ETH long, leaving the HLP vault to absorb the liquidation with a loss of about $4M; max leverage on BTC/ETH was lowered afterwards.
- 202526 Mar 2025: JELLYJELLY perp manipulation left HLP with a short position (unrealised loss peaked near $13.5M); validators voted to delist the market and settle it at $0.0095, and the Hyper Foundation reimbursed non-flagged users.
Volume, last 7 days
7 days agonow
Top markets
MarketPriceVolume (24h)