# Hyperliquid

Base perpetual-fee reference and execution prerequisites; no reward opportunity is asserted.

This is reference data published by Crypter. It does not ask any software to act. Registrations, signatures, deposits and trades are decisions for the human who owns the account. Nothing here guarantees airdrops, points, or profits. Crypter earns referral fees where a referral block is present.

Record: hyperliquid (venue)

Checked: 2026-11-10 JST

Updated: 2026-11-10

Review by: 2026-12-10

Stale: false

Reviewed snapshot — next review due 2026-12-10.

[Official start URL](https://app.hyperliquid.xyz/)

## Key facts

| Item | Value | Unit | Basis | Checked |
| --- | --- | --- | --- | --- |
| Trading fee | 0.045 | percent of notional per fill | Official | 2026-11-10 |
| Spread | Not established | percent of notional; quote dependent | Unknown | 2026-11-10 |
| Withdrawal | Not established | USD per withdrawal | Unknown | 2026-11-10 |
| Minimum capital | Not established | USD collateral; market dependent | Unknown | 2026-11-10 |
| API | API wallet signing is documented. | Not specified | Official | 2026-11-10 |
| Agent wallet | Master accounts can approve API/agent wallets; approval does not remove human decision authority. | Not specified | Official | 2026-11-10 |

## Referral disclosure — optional

Crypter earns a share of fees from accounts that sign up with this link.

[Open official site](https://app.hyperliquid.xyz/)

[Optional referral — SAKISAKI](https://app.hyperliquid.xyz/join/SAKISAKI)

### Fact: referral.user_benefit

Value: 4% fee discount on the first $25M of volume; vaults and sub-accounts excluded.

Basis: Official

Unit: Not specified

Source IDs: hl-referrals

Checked: 2026-11-10

Formula: Not applicable

Note: None

Benefits may not apply if the account is already registered or already linked to another referral. Check the official referral terms before signing up.

If you decide to use Hyperliquid, we would appreciate it if you signed up through our referral link. It is optional. The official link is listed separately.

---

Venue actions describe prerequisites, not reward qualification. No all-in cost total is provided.

## Eligibility

### Item 1

#### Kind

region

#### Description

Venue terms and local law must be assessed for the individual account; Japanese eligibility is unverified.

### Fact: eligibility.0.fact

Value: null

Basis: Unknown

Unit: Not specified

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Item 2

#### Kind

kyc

#### Description

Identity-verification requirements have not been fully reviewed.

### Fact: eligibility.1.fact

Value: null

Basis: Unknown

Unit: Not specified

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

## Region

### Fact: region.restricted_regions

Value: \["United States of America","Ontario, Canada","Jurisdictions subject to applicable economic and trade sanctions or export control laws \(Restricted Territories\)"\]

Basis: Official

Unit: Not specified

Source IDs: hl-terms

Checked: 2026-11-10

Formula: Not applicable

Note: Citizens of Restricted Territories are restricted regardless of location; the list is not a legal eligibility conclusion.

### Japan

unknown

### Fact: region.fact

Value: null

Basis: Unknown

Unit: Not specified

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

## Qualifying actions

### Item 1

#### Action

Wallet onboarding: trading enablement and deposit \(execution context, not reward qualification\).

#### Onchain

true

#### Requires signature

true

#### Signature kind

Gasless enable-trading signature and deposit transaction; exact payload review remains necessary.

### Fact: qualifying_actions.0.fact

Value: Wallet flow includes enablement and a confirmed deposit.

Basis: Official

Unit: Not specified

Source IDs: hl-onboarding

Checked: 2026-11-10

Formula: Not applicable

Note: None

## Costs

### Fact: costs.trading_fee

Value: 0.045

Basis: Official

Unit: percent of notional per fill

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: Base tier0 taker perps; maker 0.015%. Staking, asset-specific adjustments and other tiers differ.

### Fact: costs.spread

Value: null

Basis: Unknown

Unit: percent of notional; quote dependent

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: costs.gas

Value: Trading has no gas charge; deposits require source-chain gas.

Basis: Official

Unit: native token; deposit route dependent

Source IDs: hl-onboarding

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: costs.bridge

Value: null

Basis: Unknown

Unit: USD; route dependent

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: costs.withdrawal

Value: null

Basis: Unknown

Unit: USD per withdrawal

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: costs.min_capital

Value: null

Basis: Unknown

Unit: USD collateral; market dependent

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

## Risks

### Item 1

#### Category

market

#### Description

Price movements, spread and funding can change the outcome; this is not a total-cost estimate.

#### Source ids

None listed.

### Item 2

#### Category

smart\_contract

#### Description

Crypter has not assessed contract safety or the likelihood of loss.

#### Source ids

None listed.

### Item 3

#### Category

regulatory

#### Description

Individual eligibility and Japanese legal treatment remain unverified.

#### Source ids

None listed.

### Item 4

#### Category

liquidation

#### Description

Equity below maintenance margin can trigger liquidation and loss of collateral.

#### Source ids

##### Item 1

hl-liquidations

### Item 5

#### Category

signing

#### Description

Pruned API-wallet nonce state can permit replay of old signed actions; wallet lifecycle needs review.

#### Source ids

##### Item 1

hl-api-wallets

### Item 6

#### Category

bridge

#### Description

Deposit route and source-chain risks require a separate assessment.

#### Source ids

##### Item 1

hl-onboarding

## Prerequisites

### Fact: prerequisites.wallet

Value: EVM wallet; email onboarding is also documented.

Basis: Official

Unit: Not specified

Source IDs: hl-onboarding

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.chains

Value: \["Hyperliquid","Arbitrum \(one supported deposit route\)"\]

Basis: Official

Unit: Not specified

Source IDs: hl-onboarding

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.assets

Value: \["USDC collateral","ETH for Arbitrum deposit gas"\]

Basis: Official

Unit: Not specified

Source IDs: hl-onboarding

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.account_mode

Value: null

Basis: Unknown

Unit: Not specified

Source IDs: None

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.api

Value: API wallet signing is documented.

Basis: Official

Unit: Not specified

Source IDs: hl-api-wallets

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.agent_wallet

Value: Master accounts can approve API/agent wallets; approval does not remove human decision authority.

Basis: Official

Unit: Not specified

Source IDs: hl-api-wallets

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: prerequisites.rate_limits

Value: REST: 1200 aggregate weight/minute/IP; address and websocket limits also apply.

Basis: Official

Unit: Not specified

Source IDs: hl-limits

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Human approval required

true

## Guarantee

none

## Unknowns

### Item 1

Japanese eligibility and KYC requirements were not established by the reviewed pages; the Terms of Use name restricted persons but do not mention Japan.

### Item 2

Commercial referral terms and applicability to an existing account require owner/account-specific review.

### Item 3

No current airdrop or points opportunity is reviewed here.

### Item 4

Live spread, funding, bridge route, withdrawal amount, minimum capital and required account mode remain unverified.

### Item 5

Only the base validator-operated perps fee scope is modeled; HIP-3, aligned quotes, staking and other adjustments need separate review.

## Unconfirmed topics

None listed.

## Fee tiers

### Item 1

#### Tier

0

### Fact: fee_tiers.0.volume_above_usd

Value: 0

Basis: Official

Unit: USD weighted volume over 14 days

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: Tier0 is the base tier; higher thresholds are strict greater-than.

### Fact: fee_tiers.0.taker_pct

Value: 0.045

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: fee_tiers.0.maker_pct

Value: 0.015

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Item 2

#### Tier

1

### Fact: fee_tiers.1.volume_above_usd

Value: 5000000

Basis: Official

Unit: USD weighted volume over 14 days

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: Tier0 is the base tier; higher thresholds are strict greater-than.

### Fact: fee_tiers.1.taker_pct

Value: 0.04

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: fee_tiers.1.maker_pct

Value: 0.012

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Item 3

#### Tier

2

### Fact: fee_tiers.2.volume_above_usd

Value: 25000000

Basis: Official

Unit: USD weighted volume over 14 days

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: Tier0 is the base tier; higher thresholds are strict greater-than.

### Fact: fee_tiers.2.taker_pct

Value: 0.035

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: fee_tiers.2.maker_pct

Value: 0.008

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Item 4

#### Tier

3

### Fact: fee_tiers.3.volume_above_usd

Value: 100000000

Basis: Official

Unit: USD weighted volume over 14 days

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: Tier0 is the base tier; higher thresholds are strict greater-than.

### Fact: fee_tiers.3.taker_pct

Value: 0.03

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

### Fact: fee_tiers.3.maker_pct

Value: 0.004

Basis: Official

Unit: percent

Source IDs: hl-fees

Checked: 2026-11-10

Formula: Not applicable

Note: None

## Fee examples

### Item 1

#### Label

Base tier 0: hypothetical USD 1000000 notional, taker only

### Fact: fee_examples.0.fact

Value: 450

Basis: Calculated

Unit: USD base trading fee

Source IDs: hl-fees

Checked: 2026-11-10

Formula: 1000000 \* \(0.045 / 100\) = 450

Note: Fixed-tier example only. Excludes referral discounts, staking, funding, spread, bridges, asset-specific adjustments and Builder fees.

### Item 2

#### Label

Base tier 1: hypothetical USD 1000000 notional, taker only

### Fact: fee_examples.1.fact

Value: 400

Basis: Calculated

Unit: USD base trading fee

Source IDs: hl-fees

Checked: 2026-11-10

Formula: 1000000 \* \(0.04 / 100\) = 400

Note: Fixed-tier example only. Excludes referral discounts, staking, funding, spread, bridges, asset-specific adjustments and Builder fees.

### Item 3

#### Label

Base tier 2: hypothetical USD 1000000 notional, taker only

### Fact: fee_examples.2.fact

Value: 350

Basis: Calculated

Unit: USD base trading fee

Source IDs: hl-fees

Checked: 2026-11-10

Formula: 1000000 \* \(0.035 / 100\) = 350

Note: Fixed-tier example only. Excludes referral discounts, staking, funding, spread, bridges, asset-specific adjustments and Builder fees.

### Item 4

#### Label

Base tier 3: hypothetical USD 1000000 notional, taker only

### Fact: fee_examples.3.fact

Value: 300

Basis: Calculated

Unit: USD base trading fee

Source IDs: hl-fees

Checked: 2026-11-10

Formula: 1000000 \* \(0.03 / 100\) = 300

Note: Fixed-tier example only. Excludes referral discounts, staking, funding, spread, bridges, asset-specific adjustments and Builder fees.

## Official sources and retrieval dates

- [Fees](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-fees
- [Referrals](https://hyperliquid.gitbook.io/hyperliquid-docs/referrals) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-referrals
- [How to start trading](https://hyperliquid.gitbook.io/hyperliquid-docs/onboarding/how-to-start-trading) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-onboarding
- [Nonces and API wallets](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/nonces-and-api-wallets) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-api-wallets
- [Rate limits and user limits](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/rate-limits-and-user-limits) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-limits
- [Liquidations](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/liquidations) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-liquidations
- [Terms of Use \(last updated June 15, 2026\)](https://app.hyperliquid.xyz/terms) — Hyperliquid, official_docs, retrieved 2026-11-10 JST, ID: hl-terms