By Keel Research Team · Updated May 12, 2026
Compute the fee on a Hyperliquid perp trade with the builder-code rebate layer that other calculators ignore. Enter trade size, maker or taker, and the builder rebate % — see base fee, rebate, and net effective rate in bps.
Base rates: maker 1.5 bps, taker 4.5 bps (HL unverified tier).
If you traded through a builder code, the builder may rebate part of the base fee back to you. 0-100%.
HL fees scale linearly with notional size:
base_fee = size × (rate_bps / 10000)
rebate = base_fee × (rebate_pct / 100)
net_fee = base_fee − rebateBase rates used here are HL’s Tier 0 (standard / no-volume-tier) as of mid-2026: maker 1.5 bps, taker 4.5 bps. Active traders unlock lower rates by 14-day-weighted volume — Tier 1 (>$5M) drops to 1.2/4.0 bps, the top Tier 6 (>$7B) reaches 0.0/2.4 bps. Spot volume counts double toward the tier. Refresh the constants in fee.ts when HL announces a schedule change.
Builder-code rebates are the layer most fee calculators skip. If you trade through a builder that takes a portion of HL’s base fee and passes some of it back to you, your effective rate drops. Builders set their own rebate split — enter the rebate-to-trader % the builder publishes.
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For Tier 0 (HL's standard tier), maker fees are 1.5 bps (0.015%) and taker fees are 4.5 bps (0.045%). Active traders unlock lower rates as they hit volume tiers — Tier 1 (>$5M 14d volume) drops to 1.2/4.0 bps, and the top Tier 6 (>$7B) reaches 0.0/2.4 bps. Spot volume counts double toward your tier. The calculator uses Tier 0 by default for a conservative estimate; refresh the constant if HL changes its schedule.
HL's builder-code program lets independent developers / front-ends route HL trades through a code that earns them a portion of the base fee. Many builders pass a portion of that share back to the trader as a rebate. The rebate range varies by builder; this calculator takes the rebate-to-trader percentage as an input so any builder's terms can be modeled.
You're a maker when your order rests on the order book and someone else trades against it (limit orders that don't cross the spread). You're a taker when your order crosses the spread to fill immediately (market orders, aggressive limits). Makers add liquidity → lower fee; takers consume liquidity → higher fee.
A $10k taker trade on HL Tier 0 = $4.50 base fee (0.045%). A $10k maker trade = $1.50 (0.015%). Over hundreds of trades per month, the maker/taker mix dominates total cost — a strategy that's 80% taker pays roughly 3× more in fees than one that's 80% maker for the same dollar volume.
Yes. For high-frequency strategies (intraday, market-making), fees can wipe out edge if not accounted for. For low-frequency strategies (multi-day swing, weekly rebalance), fees are usually <5% of gross returns. Always backtest with realistic fees + slippage modeled — the Keel backtest engine includes both by default.
Compute gross PnL + funding cost + net PnL for HL perp trades. Net of fees not yet — pair with this calc.
Project the funding cost over time. Combine with fees for true round-trip cost.
Find candidate HL perps by signal — momentum, funding, volume, breakout, regime.