Hyperliquid is a perpetual futures exchange that runs on its own Hyperliquid L1. It lists 318 perpetual markets across crypto, commodities, indices and FX, with names such as BTC, ETH, SOL, GOLD, SILVER and SP500 on the board alongside crypto pairs.
Maker orders pay 0.015% and taker orders pay 0.045%, on a tiered schedule based on rolling 14-day volume that is assessed at the end of each day in UTC. Sub-account volume counts toward the master account and shares its fee tier, while vault volume is treated separately. Leverage on listed markets goes up to 50x, and funding is computed as an 8-hour rate but paid out hourly, at one eighth of that rate each hour.
Users can sign up with an email address and no KYC is required, though Hyperliquid restricts access from the United States, Ontario, Cuba, Iran, North Korea, Syria, Crimea, Donetsk and Luhansk. The exchange has its own token, HYPE, and ran a points program distributed weekly from November 1, 2023 to May 1, 2024. Its referral program is live: a referrer earns 10% of a referred user's trading fees, net of their discount, on that user's first $1B in volume, while the referee gets a 4% fee discount on their first $25M in volume; a referrer needs $10,000 in trading volume before creating a referral code.
Hyperliquid lists 318 perpetual markets across crypto, commodities, indices and FX.
Fees are tiered by rolling 14-day volume, with a maker rate of 0.015% and a taker rate of 0.045%.
Leverage on listed markets goes up to 50x.
No. Users can sign up with just an email address.
No. Hyperliquid restricts access from the United States, Ontario, Cuba, Iran, North Korea, Syria, Crimea, Donetsk and Luhansk.
Yes. Referrers earn 10% of a referred user's trading fees on their first $1B in volume, and referees get a 4% fee discount on their first $25M in volume.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
