1 bp per trade.
That is the entire price list.
Hyperliquid pays us a builder fee out of each order we place for you, and only when we place one. No subscription, no monthly minimum, no performance cut, and no invoice — there is nothing for you to pay us directly.
A rate per trade is not a price until you know how often you trade.
Copy trading means someone else decides that. Follow a quiet trader and our fee is a rounding error; follow one who turns their book over every day and the same rate is a serious cost. Move the slider and see.
What 1 bp would cost you
IllustrationChanges the dollars below, never the percentage.
Monthly notional traded, as a multiple of their own account. The three presets are the quartiles of ten Hyperliquid traders we measured over 84 hours — an order of magnitude, not a forecast.
During setup this same number is measured against the actual trader you picked, and shown to you before you approve anything.
23 real traders, run through the same arithmetic.
Chain-verified Hyperliquid accounts, their actual fills, put through the billing transform your account would use. This is what set the rate — the ceiling on a builder fee is not our revenue, it is what it costs you.
How many times over the typical trader turns their book each month. Across the sample: 0.2× to 365×.
Our fee as a share of your equity, at 1 bp.
Same rate, same fee, different trader. This is the number a headline bps figure hides from you.
n = 23, over an 84-hour window extrapolated to a month, with no coverage of different market regimes. That makes it an order of magnitude, not a forecast — which is why the number that matters is the one measured against the specific trader you pick, during setup, before you approve anything.
Two of them are uncomfortable, and all three are on your screen before you sign.
The percentage is the same at $1,000 and at $250,000 — the dollars scale, the drag does not. Anyone quoting you a per-trade rate without the turnover behind it has not told you the price.
Above 10% a year, the setup flow flags the cost before you approve the fee. That threshold fires on real traders — the busy quartile of the ones we measured trips it comfortably.
Two things stop it. The arithmetic: at double this rate the median trader we measured would cost a follower 6%of their equity per year and the busy ones far more. And the mechanism: the fee approval has to be signed by your own wallet, and an agent key cannot sign it — so we could not raise it on your account even if we decided to. Hyperliquid's own ceiling is 10 bps; the real ceiling is a lot lower, and it is yours.
What you already pay Hyperliquid.
Our fee is charged on top of the venue's, not instead of it. It is a small number against a small number, so the honest way to state it is as a share of what you were paying anyway.
Crossing the spread — which every copy does, because the engine sends Immediate-or-Cancel orders that cannot rest. Our 1 bp adds about 22% to that.
Resting on the book. Copying never does this, so it is the rate above that applies to you — shown here because 1 bp would be about 67% on top of it, and that is the widest our fee ever looks.
Paid by the venue out of the order, at the moment it fills. Nothing is billed to you.
The venue's rates are tiered and can move; these are its base figures, read from Hyperliquid directly rather than assumed. A copy engine reacts to someone else's fill, so most of your orders will be the taker side.
Nothing else goes to us. Some things still cost you.
We are reacting to a trade that already happened, so your price is not their price. It is a real cost and not one we can make disappear — the dashboard shows it per fill rather than averaging it away.
You are holding real perpetual positions someone else chose. Funding, liquidation risk and losses are yours. Copy trading is not a way of being less exposed to a trader's decisions — it is a way of being exactly as exposed, automatically.
Hyperliquid rejects anything under $10. On a small account some of your trader's positions never arrive at all, which costs you nothing in fees and something in tracking.
Is a small account too small?
Too small for some traders, not for others — which is why we match rather than screen. At $1,000, 99.8%of the median trader's notional still arrives in your account after scaling, because a typical leader's orders still clear the $10 floor comfortably once sized down. That is the money; the count is a harder number, and it is the one your screen shows you.
Where it breaks, it breaks by trader rather than by balance. A high-frequency leader lost 23% of its fills to that floor at the same deposit — though only 1% of the notional, so the money barely noticed while the screen noticed constantly.
So there is no minimum deposit, and we would rather not invent one: a flat threshold would turn away a small account that picked a trader it can track perfectly well. The copyability check refuses the specific pairing instead, on measured evidence.