Legend vs Hyperliquid Referral Programs: How They Work Together (2026)
Compare Legend's trading and Capital referrals with Hyperliquid's native codes, including builder-code precedence and each program's rules.
Legend's affiliate program and Hyperliquid's native referral codes are complementary. They can serve different orders and different parts of a community. Hyperliquid's staking referral documentation says a builder code overrides a referral code for that order. An order placed through Legend therefore uses Legend's builder fee, and Legend's referral program applies to that order. This comparison uses public terms as of November 2026. Check both programs' current rules before sharing a link or code.
Which referral program should you use?
The choice depends on where the referred user places an order. For a Legend order, its builder code takes priority. The order uses Legend's builder fee, and an affiliate can earn a share. Legend also rewards referred Capital purchases and resets. See the Legend referral program and Legend Capital.
Hyperliquid's native code can cover eligible activity in its referral system. The documentation describes a 10% reward on referred-user fees, less user discounts. The discount is 4% on the first $25 million of volume. Each reward follows its own terms and order context.
Head to Head
| Detail | Legend referral program | Hyperliquid native referral |
|---|---|---|
| Reward basis | 10% of Legend builder fees on referred trades; 5% of net Capital revenue on purchases and resets | 10% of referred-user fees, less any fee discount |
| How to join | Every Legend account has a link in Rewards; no application | Create a code after $10,000 in personal volume |
| Which code applies to a Legend order? | Builder code takes precedence; Legend's program applies | Referral code is overridden for that order |
| User discount | 5% off the first wallet Capital purchase; coupon does not stack | 4% fee discount on the first $25 million of volume |
| Reward limits and claims | Tier uses referrer's own rolling 30-day Legend volume; claim in USDC from $10 combined | Referrer's reward applies to the user's first $1 billion of volume; claim above $1 to spot balance |
Where It Is Decided
A builder code and referral code serve separate roles
Hyperliquid says a builder code overrides a referral code for an order. It identifies the app builder linked to that order. If a user places an order through Legend, the order uses Legend's builder fee; the native referral code does not apply. Legend's affiliate program applies, so the referral can qualify for a share of the builder fee.
This is an order-level rule. It does not mean a Legend user can never have a Hyperliquid referral code. A user can use a native code for eligible orders that do not use a builder code. A creator can explain which link or code fits the route their audience will use, rather than presenting the two programs as substitutes.
Legend rewards trading and Capital activity
Legend pays 10% of the builder fees that referred users pay on trades. The reward is based on the builder fee, not on the user's trading volume or all exchange fees. The affiliate's own rolling 30-day Legend volume sets the rate: below $100,000 earns 10%; $100,000 earns 12.5%; $1 million earns 15%; $10 million earns 17.5%; and $100 million earns 20%. Referred-user volume does not set the affiliate's tier.
The same Legend link can also earn 5% of net Capital revenue on each referred account purchase and reset. The rule covers all programs and web or mobile purchases while referral attribution remains. Net revenue is the amount paid after discounts, less app-store fees for store purchases. Free purchases earn no commission, and refunds reverse rewards. A referred user gets 5% off a first Capital account bought by wallet. App-store purchases are not discounted, and the referral discount does not stack with coupons.
Legend rewards accrue continuously. Affiliates claim available rewards in USDC to the primary wallet through Claim Rewards in the app. The combined minimum is $10. Claims above $10,000 need operator approval. Every Legend account has a referral link under Rewards, so no application is required. Self-referrals are not allowed.
Hyperliquid native referrals have protocol rules
Hyperliquid's referral documentation says a code can be created at app.hyperliquid.xyz/referrals after the referrer reaches $10,000 in personal volume. A referred user receives a 4% fee discount on their first $25 million of volume, excluding vaults and sub-accounts. The referrer earns 10% of the referred user's fees, after the user's fee discount is accounted for. That reward applies to the first $1 billion of the user's volume. See Hyperliquid's referral documentation for these native-code rules.
Hyperliquid makes the reward claimable once the balance is greater than $1, with the claim credited to the spot balance. Those rules differ from Legend's no-application link, volume-based Legend builder-fee tier, and USDC claim flow. The programs can coexist in one user's broader activity because the order context determines which code applies.
Share the right route with a referral
For Legend orders, share the Legend link; its builder fee and referral program apply. For eligible orders through Hyperliquid's native referral flow, share its code. The reward bases, discounts, volume limits, and claim rules differ. Explain code priority before a trade when a community uses both routes.
Frequently asked questions
Can a Hyperliquid referral code apply to a Legend order?
No. Hyperliquid's documentation says a builder code overrides a referral code for that order. A Legend order uses Legend's builder fee, and Legend's referral program applies to the order.
Are Legend and Hyperliquid referral programs competitors?
They can be complementary. The order route determines which code applies. Legend's builder code applies to orders through Legend, while Hyperliquid's native referral code can apply to eligible orders without a builder code.
How much does a Legend affiliate earn from trading referrals?
Legend pays 10% of its builder fees on referred trades. The affiliate's own rolling 30-day Legend volume sets a tier up to 20%. The reward is not a share of trading volume or all exchange fees.
When can a Hyperliquid referral reward be claimed?
Hyperliquid says a referral balance becomes claimable after it exceeds $1. The claim goes to the referrer's spot balance.