Definition
Both are a share of the notional, charged on each side of a trade. At the base perps tier a taker pays 0.045% and a maker 0.015%; on spot the base rates are 0.070% and 0.040%. There is one fee tier per user across every asset, perpetuals, HIP-3 perpetuals and spot, read from a rolling 14 day volume assessed at the end of each day in UTC, where the weighted volume counts spot twice. Sub-account volume counts toward the master account and all sub-accounts share the tier; a vault's volume is counted apart.
Several things lower the rate. The tiers run from above $5M of weighted volume (0.040% taker, 0.012% maker) to above $7B (0.024% taker, 0% maker). Staked HYPE takes a fixed share off, from 5% above 10 HYPE to 40% above 500,000. Referral discounts apply to a user's first $25M of volume. And a maker providing more than 0.5%, 1.5% or 3.0% of the 14 day maker volume is paid a rebate of 0.001%, 0.002% or 0.003% instead of a fee, credited on each trade. The documentation says the fees are entirely directed to the community: HLP, the assistance fund and deployers.
Two things sit beside the venue's rate. A builder fee is set per order by the program that sends the fill, processed onchain as part of the fee logic and capped at 0.1% on perpetuals and 1% on spot; the account approves a maximum for one builder address with approveBuilderFee, which Hyperliquid requires to be signed by the main wallet and never by an agent key. Ours is one of those, at 0.05% of each order's notional on both legs, named in every quote. Funding is not one of the venue's fees at all: it is paid between traders, and no fees are collected on the payments.
Which rate applies follows from what the order did, not from what it meant to do. A market order is always a taker. A limit order that crosses the book fills at once and is a taker too; only a limit that rests can be a maker. The market orders a liquidation sends to the book pay the taker rate, and the documentation notes there is no clearance fee on liquidations on top of it.
Formula
fee = notional * rate, where the notional is the fill price times the size, and the rate is the maker or the taker rate of your tier. The tier reads (14d weighted volume) = (14d perps volume) + 2 * (14d spot volume).
Example
An example, in round figures, on $10,000 of notional at the base tier. A taker pays 0.045%, so $4.50; a maker pays 0.015%, so $1.50. A round trip taken on both legs costs $9.00, and resting in then taking out $6.00. A service fee of 0.05% a leg, such as ours, adds $5.00 and $5.00. So the same trade costs $19.00 or $16.00 before funding, which is 0.19% or 0.16% of its notional.