Hyperliquid Cuts Taker Fees 90% With New HIP-3 Growth Mode
- Hyperliquid has launched HIP-3 with a growth mode to cut taker fees on new markets sharply.
- The upgrade strengthens early-market liquidity through controlled fee-scale settings.
- HIP-3 markets show fast adoption as builders introduce new equity and sector perpetuals.
Hyperliquid introduced a major upgrade that lowers taker fees on newly deployed perpetual markets under its HIP-3 framework. The feature, called growth mode, reduces the all-in taker fee by more than 90%. The change aims to accelerate liquidity formation on early-stage markets. It also strengthens the platform’s position among decentralized derivatives exchanges.
Growth mode arrives as Hyperliquid continues to expand its trading ecosystem. The exchange processes over $300 billion in monthly perpetual volume. It generates roughly $1 billion in annualized revenue. The platform has become a key venue for on-chain derivatives activity.
Hyperliquid Unlocks Ultra-Low Fees for New Market Deployment
The new structure allows deployers to activate reduced fees on a per-asset basis. It does not require centralized approval. The model aligns with Hyperliquid’s goal of enabling permissionless market creation. It also positions the exchange closer to centralized competitors in terms of cost efficiency.
The cut takes standard taker fees from 0.045% to a range between 0.0045% and 0.009%. Users with high staking and trading tiers could reach even lower levels. Fees could fall to about 0.00144%–0.00288%. The shift lowers the cost of entering new markets. It also helps early markets attract deeper liquidity.
Taker fees apply when orders remove liquidity from the order book. Lowering these fees could draw activity toward new markets. It creates an environment where builders could test markets with lower initial friction.
To qualify for growth mode, deployers must set their fee scale between 0 and 1. The fee scale represents the share of user trading fees that deployers keep before discounts. These discounts include those applied to aligned stablecoin collateral. Deployers must also ensure that the asset does not overlap with validator-operated perpetuals.
The framework excludes assets that resemble existing listings. That includes crypto perpetuals, crypto indexes, ETFs, or markets closely linked to current offerings. Examples include products similar to the PAXG-USDC gold perpetual. The policy prevents volume from shifting in ways that undermine existing markets.
HIP-3 Strengthens Market Stability With Time-Locked Deployment
Growth mode lock-in 30 days from activation. Deployers are not allowed to make configuration changes during the ‘restricted’ period. The lock helps keep situations orderly for traders. It also adds stability to new markets on their way up the liquidity curve.
The launch follows the activation of HIP-3 on October 13, 2025. HIP-3 introduced permissionless deployment of perpetual markets on HyperCore. Builders who stake 500,000 HYPE tokens could create their own perpetual exchange. They could select oracles, define leverage limits, and choose fee structures. They could also earn up to half of the trading fees generated by their markets.
The staking requirement is designed as a security bond. It also aligns incentives between deployers and validators. The stake may be slashed if a deployer operates a malicious market. Project documentation notes that engineering improvements reduce the likelihood of slashing under normal operations.
Early HIP-3 markets have shown strong activity. The first builder-deployed market, XYZ100 from TradeXYZ, tracks 100 large U.S. non-financial companies. It generated more than $1.3 billion in trading volume within weeks. Felix Protocol launched a Tesla perpetual on November 13, demonstrating HIP-3’s ability to support equity-based derivatives.
Related: Hyperliquid Hits $2M in Daily Fees as DeFi Activity Booms
Hyperliquid sees potential growth across new asset categories. These include equities, foreign exchange pairs, commodities, treasuries, and prediction markets. FalconX analysis states that capturing a small share of derivatives volume on major technology stocks could yield significant additional fees.
The HYPE token has shown volatility during wider market weakness. It trades near $38.18 at press time. It previously reached an all-time high of about $59 in September 2025. CoinGecko data places Hyperliquid’s market capitalization above $10.30 billion. It remains among the top 20 cryptocurrencies by value.
The fee cut is yet another enhancement for Hyperliquid’s infrastructure. It’s designed to underpin wider asset coverage and more liquidity creation. It also bolsters the platform’s continued efforts to scale on-chain derivatives markets.
