Hyperliquid trading costs can include the venue’s execution fee, an interface’s builder fee, funding payments, and execution effects such as spread and slippage. To compare apps, calculate the cost of your intended trade rather than relying on one advertised percentage.
This guide explains how those pieces fit together. For your actual rate, use Hyperliquid’s current fee schedule and the charges disclosed by your chosen app. The numerical example below is hypothetical, not a quote for Legend or Hyperliquid.
Maker versus taker fees
A maker order rests on the order book and adds liquidity. A taker fill consumes available liquidity. A limit order is not automatically a maker order: if its price crosses the book, it can execute immediately as a taker.
Hyperliquid publishes separate spot and perpetual fee schedules, with account- and market-dependent adjustments. Check the applicable schedule and your account tier instead of assuming one rate applies to every order. The official fee documentation explains volume tiers and other adjustments.
What is a Hyperliquid builder fee?
An app can charge an additional fee on orders it routes through Hyperliquid. Hyperliquid calls this a builder fee. Its builder-code documentation explains that users authorize a maximum fee and that the builder fee is specified per order.
That is why two interfaces connected to Hyperliquid can have different total costs. Check whether an app’s displayed estimate includes both the venue fee and any builder fee. Do not assume that a venue-only fee table describes the complete charge.
A worked round-trip example
Suppose a hypothetical perpetual trade uses $200 of collateral at 5x leverage, giving it $1,000 of notional exposure. Assume a venue execution fee of 0.04% and an additional interface fee of 0.02% on each fill. These rates are chosen only to demonstrate the arithmetic.
| Calculation | Example amount |
|---|---|
| Opening notional | $200 × 5 = $1,000 |
| Venue fee on opening | $1,000 × 0.04% = $0.40 |
| Interface fee on opening | $1,000 × 0.02% = $0.20 |
| Total opening execution fees | $0.60 |
| Closing execution fees, assuming unchanged notional and rates | $0.60 |
| Combined opening and closing fees | $1.20 |
The $1.20 round trip equals 0.12% of the $1,000 notional, or 0.6% of the $200 collateral. Those percentages describe different bases. In a simplified example with no other costs, a 0.12% favorable move on the exposure offsets the execution fees; it does not require a 0.6% move in the underlying price.
Actual closing notional may differ from opening notional. Partial fills or position changes also require adding the fees on each executed amount. Funding, spread, and slippage are excluded from this example.
Funding is a separate holding cost
Funding transfers value between long and short position holders. Hyperliquid’s funding documentation states that funding is paid hourly. Check the live rate and how the interface labels its time interval before estimating a holding cost.
For a simple illustration, a $1,000 position subject to a 0.001% hourly funding payment would pay $0.01 for that interval. If the same notional and payable rate persisted for 24 intervals, the total would be $0.24. Real rates and position values change; this is not a daily-rate forecast.
Costs to compare before choosing an app
| Cost | What to inspect |
|---|---|
| Venue execution fee | The applicable market, account tier, and maker or taker treatment |
| Builder or interface fee | The app’s disclosure and order estimate |
| Funding | Current rate, direction of payment, and interval |
| Spread and slippage | The difference between the observed price and achievable execution |
| Copy-trading charges | Any separate profit share or wallet activation charge |
| Deposits and withdrawals | The quote for the selected asset, network, and transfer method |
Legend’s copy-trading documentation distinguishes the builder fee from a trader’s optional profit share. Do not use copy-trading charges as a substitute for checking the quote on a manual order.
Related guides
- Hyperliquid mobile app options
- Compare Hyperliquid trading apps
- Trading fees on Legend
- Hyperliquid copy trading
Understanding costs makes an order easier to evaluate; it does not remove the price, leverage, or liquidation risk of the position.