What a Hyperliquid order actually costs, layer by layer

A taker order on a native Hyperliquid market carries 9 bp of StratiDex commission, plus 4.5 bp of protocol fee for the venue. On a HIP-3 market the deploying dex adds a share of the protocol fee — 127 of the 128 HIP-3 markets add 100%, so the venue side reaches 9 bp. The spread you cross is the third cost.

Last updated: September 8, 2026

The three layers of an order's cost

Every fill on StratiDex carries three separate costs. Two are fixed and shown before you confirm. The third depends on the order book at the second your order lands.

• StratiDex commission: 9 bp of the notional, on every executed order. Nothing else — no subscription, no cut of your gains.
• Protocol fee: 4.5 bp taker and 0.15 bp maker on the 177 native Hyperliquid markets. Taker means your order crosses the book and fills now.
• Spread: the gap between best bid and best ask. You pay half on entry and half on exit. It is a market cost, not a fee, and nobody rebates it.

9 bp is one basis point short of 0.1%. On a $250 position that is $0.225. The confirmation screen shows the total in dollars before you validate, next to the exact liquidation price.

Native vs HIP-3: where the deployer share comes from

Hyperliquid lets third parties deploy their own perpetual markets through HIP-3. On StratiDex, the stocks, commodities, indices, currencies and pre-IPO names all come from these deployers: xyz, io, mkts and para. The Hyperliquid documentation states it plainly: "HIP-3 deployers can configure an additional fee share between 0-300 %". That share sits on top of the protocol fee, so two markets that look identical on screen can cost different amounts to trade. StratiDex reads the share on each market and puts the real total on the confirmation screen.

The last row is what the rule permits, not what exists. On 7 September 2026 no market reachable from StratiDex sits above 100%. A deployer can change its share at any time, and the total follows the next time we read it.

A $250 trade, from entry to exit

Take a $250 position, opened and closed as taker. Fees apply to the notional, not to the margin you posted.

Your position has to cover 9 bp of StratiDex commission on each side, plus the venue's taker fee — 4.5 bp on a native market, 9 bp on a HIP-3 market — before the round trip breaks even on fees alone. Add the spread you cross on both sides. That is the break-even, before anything else happens to the price.

Check the numbers yourself

1. Open a market page on stratidex.io, at /markets/{ticker} — 159 of the 305 markets have one. The deploying dex, the deployer share and the effective taker fee are printed there.
2. Download /data/markets.json. It is our open dataset, licensed CC BY 4.0: one row per market, with leverage cap, margin mode, deploying dex, deployer share and effective taker fee.
3. Go to the source. Ask the Hyperliquid API for a deploying dex's fee share and compare it with our row. A 100% share doubles the protocol taker from 4.5 bp to 9 bp; 0% leaves it at 4.5 bp; 300% is the documented ceiling.
4. Compare with the bot. The confirmation screen shows the full cost in dollars before you validate, on all 305 markets.

If a figure on this page and a figure in the API disagree, the API wins. Everything here was verified on 7 September 2026. A deployer that changes its share changes the total from our next read onwards.

What costs nothing, and the one flat fee

Most of the surface is free. Exactly one charge on the path is a fixed dollar amount instead of a percentage, and Hyperliquid takes it, not us.

• Free: creating your account in the chat, exporting your private key, watchlists, price alerts (±2/5/10% or a price you type), the 5%/hour move alert, sharing a market card or a trade in any Telegram conversation.
• Free: copy trading, in both forms — no profit share is taken from the follower, on the manual copy or on the proportional auto-follow. The orders it places pay the same 9 bp as an order you tap yourself.
• Free: transferring USDC to another Hyperliquid account.
• $1: withdrawing to Arbitrum. That fee is charged by Hyperliquid.
• Deposit: nothing from StratiDex. The Arbitrum bridge consumes gas, billed in USDC.
• No subscription, no monthly fee, no fee on your gains.

The referral discount: 8.1 bp for life

Arrive through an invitation link and your StratiDex commission drops by 10%, from 9 bp to 8.1 bp, for as long as the account exists. No expiry, nothing to renew.

The person who invited you receives 20% of the commissions you pay, for life, and 5% at the second level. Creators can request a partner code of their own choosing. The two sides are separate: your discount comes off your commission, their reward comes out of the commission StratiDex collects.

Fees, leverage and the break-even you have to clear

Fees are charged on the notional, so leverage multiplies them in dollars. A $50 margin at 5× opens a $250 position and pays the fee on $250, not on $50.

The same leverage shortens the distance to your liquidation price, and a liquidation takes the margin behind the position. StratiDex starts at 2× and reads the real cap of each market — up to 40× on BTC, 20× on NVDA, 50× on some markets — so no button offers a leverage the market refuses; some markets accept isolated margin only. The bot has no stop-loss, no take-profit and no automatic protection of any kind: a price alert is a message, not an order. Hyperliquid's restricted jurisdictions apply, and it is on you to check what is legal where you live. /risks sets out the rest.

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Leveraged trading can lose the entire capital committed. Nothing here is investment advice.