Hyperliquid’s published documentation does not define native options contracts, options premiums, or an options-specific fee and liquidation schedule. The documented rules apply to Hyperliquid perpetual contracts, spot trading, cross and isolated margin, and the pre-alpha portfolio-margin system. If you are asking about “Hyperliquid options fees,” use the perpetual fee schedule only as a documented trading reference; do not assume it is an options schedule.
For perpetuals, the base fee is 0.045% for takers and 0.015% for makers. Cross margin is the default collateral model, isolated margin limits collateral to one position, and liquidation is triggered when equity falls below maintenance margin calculated from the mark price.
As an Amazon Associate I earn from qualifying purchases.
Does Hyperliquid offer options or only perpetuals?
The official Hyperliquid contract documentation describes linear perpetual contracts. These contracts have no expiration date and use hourly funding payments. The same documentation covers spot markets, margining, portfolio margin and liquidation, but it does not publish a native options-contract specification.
Outdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchPC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11That distinction matters because an options market normally requires rules for contract expiry, strike selection, exercise or settlement, option premium treatment, implied-volatility quoting, assignment, and option-specific margin. Hyperliquid’s published perpetual documentation does not establish any of those rules. Until Hyperliquid publishes an options specification, statements about “Hyperliquid options fees,” options margin or an options liquidation price are unverified.
#1 Best Overall
- [Ultra-Lightweight Ear Buds Designed for Small Ears] Each earbud weighs only 3.7g and features a compact, ergonomic in-ear design made especially for small ears. Secure, low-profile, and comfortable for workouts, all-day wear or overnight sleeping.The ultra-slim profile sits flush in your ear with no hard edges poking or rubbing, so you can even sleep on your side without discomfort.
- [Immersive Stereo Sound with TOZO OrigX Technology] TOZO OrigX tuning delivers clear vocals, balanced mids, and natural stereo sound for music, podcasts, and videos.
- [Long Battery Life for Daily Use] Get up to 7 hours of playtime on a single charge, with up to 32 hours total using the charging case—ideal for workdays, commuting, and extended listening sessions.
- [Bluetooth 5.3 & Stable Connection] Bluetooth 5.3 provides fast pairing, stable wireless performance, and reduced dropouts as you move around home or office.
- [Deep Bass with Clear Vocals] High-performance drivers produce punchy bass while keeping vocals clean and detailed for everyday listening.
The calculations below therefore explain the currently documented perpetual and portfolio-margin systems. They are useful if you are trading Hyperliquid perps or evaluating how a future options product might differ, but they should not be presented as an official options schedule.
How Hyperliquid perpetual trading fees work
Hyperliquid determines fee tiers from rolling 14-day volume. The fee level is assessed at the end of each UTC day, so your tier can change as older volume leaves the lookback window and new volume is added. Perpetuals and spot markets have separate rate schedules, but both contribute to one fee tier. Spot volume counts double in the weighted-volume calculation.
Base perpetual rates
| Trading role | Base perpetual fee | How it is charged |
|---|---|---|
| Taker | 0.045% | Applies when your order removes liquidity from the order book |
| Maker | 0.015% | Applies when your order adds liquidity and executes as a maker |
Higher 14-day volume tiers reduce the maker and taker rates, but the documentation’s headline base schedule is 0.045% taker and 0.015% maker. Whether an order receives the maker rate depends on its execution, not simply on the order type you selected: an order that crosses the spread can execute as a taker even if you intended to provide liquidity.
Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitches14-day weighted-volume thresholds
| Rolling 14-day weighted-volume threshold | What it represents |
|---|---|
| $5 million | First published volume threshold in the schedule |
| $25 million | Published volume threshold; referral discounts are documented for a user’s first $25 million |
| $100 million | Published volume threshold |
| $500 million | Published volume threshold |
| $2 billion | Published volume threshold |
| $7 billion | Highest published threshold in the schedule |
The threshold table is not an options fee table. It is the documented volume framework for Hyperliquid’s perpetual and spot fee schedules. The fee page also describes referral rewards applying to a user’s first $1 billion of volume and referral discounts applying to a user’s first $25 million. Those programs have their own eligibility and terms, so verify the current conditions before relying on them.
How to estimate a perp trading cost
For a single fill, multiply the executed notional by the applicable fee rate. A $10,000 taker fill at the base 0.045% rate would produce a $4.50 trading fee before any other costs. A $10,000 maker fill at 0.015% would produce $1.50. These are arithmetic illustrations of the published rates, not quotations for an options contract. Funding payments, slippage and any applicable discounts are separate from the trading fee.
Rank #2
- 【IP68 Waterproof Multifunctinal Smart Watch】Torjalph fitness activity tracker smart watch is IP68 waterproof technology ,you can wear it when swimming,handwashing,it's rain-proof which means that you perform multiple exercise modes outside without worrying about sweat or rain corroding your fitness smart watch,and this watch equipped with a 230 mAh large capacity battery magnetic charging ,and this sports activity tracker watch can be used 5-7 days If fully charged.
- 【Larger 1.83'' Full Screen Watch & Multi-dial Selection】1.83 inch full HD color touch screen smart watch for men / women provides excellent 240*284 resolution image quality ,This Bluetooth smart watch offers a better touch experience and remarkable immersion and ,more than 200 watch faces for you to choose from App"Da Fit ", you can change the dial style according to your mood to wear keeping the world on your wrist
- 【Accurate Activity Tracker Smart Watch 】sports watch activity tracker uses sweat and dust resistant breathable silicone strap, our Fitness Tracker Smart Watch for Android iOS Phones supports 12 sports modes,walking,running,bicycle,swimming,badminton,basketball,football,rope skipping. This bluetooth calls smart watch for men women is lightweight and stylish, bringing more convenient and relaxing sports experience while also providing more protection.
- 【Your 24 Hour Personal Daily Health Monitor】Fitness watch for women men full touch screen IP67 waterproof bluetooth smartwatch for Android iOS Phones with heart rate blood pressure monitor multifunction Andriod smart watch with steps counter sleep monitor sports fitness watch, monitoring blood oxygen saturation allows you to understand your physical condition in real time to track fitness progress ,to know your health status in time.
- 【More Functions Bluetooth Call Smart Watch】This fitness activity smart watch full screen for iPhone and Android phones includes a bunch of new features including:The bluetooth smart watch can hang up the phone, receive and display WhatsAPP /Text /Facebook /Twitter /Messenger reminder.Support sedentary reminder, alarm clock, stopwatch, timer,weather information,music control, remote camera control compatible with Android 5.0 and above or iOS 9.0 and above smartphones.
Cross margin versus isolated margin
Hyperliquid uses cross margin by default. Cross margin allows eligible collateral to support multiple cross-margin positions. A profitable position can therefore offset losses elsewhere in the same cross-margin account, but a large loss can consume collateral that would otherwise support another position.
Isolated margin assigns collateral to one position. Losses in that isolated position do not directly draw down other isolated positions or cross-margin positions. This limits contagion, although the isolated position can reach liquidation sooner if its assigned collateral is small.
Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →| Feature | Cross margin | Isolated margin |
|---|---|---|
| Collateral scope | Shared among cross positions | Confined to one position |
| Effect of another position’s loss | Can reduce collateral available to all cross positions | Does not reduce collateral assigned to other isolated or cross positions |
| Opening margin formula | Position size × mark price ÷ selected leverage | Position size × mark price ÷ selected leverage |
| Changing collateral after opening | Cross initial margin cannot be withdrawn | Isolated margin can be adjusted after opening |
Initial margin calculation
Hyperliquid states that the margin required to open a position is:
initial margin = position size × mark price ÷ leverage
For example, a 2 BTC position marked at $50,000 has $100,000 of notional value. At 10× leverage, the opening-margin requirement is $10,000. The calculation uses mark price rather than an arbitrary last trade, and the selected leverage changes the opening requirement. It does not by itself guarantee that the position can withstand a particular percentage move; maintenance-margin tiers determine when liquidation becomes possible.
Rank #3
- [Low Noise High Fidelity] New bee guitar cord with 22AWG oxygen-free-copper center conductors provides enhanced signal transfer, the PVC insulation material and the high-density stranded copper double shield provide noise rejection for quiet operation
- [Ideal for Choice] New bee 1/4 straight and right angle metal connectors, ensures a secure connection in any instrument, pedal, or amp jack. L shape great fro on stage guitar stands
- [Wide Compatible] Suitable for mixer, power amplifier, microphone, effector, decoder, equalizer, electoronic organ, electric guitar, electric bass and other electronic equipments. Widely used in the installation of smart home, karaoke speaker, professional stage audio, etc
- [Easy Disassemble] Making incidental repairs quick and easy! Very nice, flexible cable
- [Dont Hesite to Order] 24 hours customer services and professional technology team are standing by
Maintenance margin and maximum-leverage tiers
Maintenance margin is the minimum equity required to keep a position open. Hyperliquid’s documentation currently describes maintenance margin as half of the initial-margin rate at the maximum leverage available for the relevant margin tier. The tier formula is:
maintenance margin = notional position value × maintenance margin rate − maintenance deduction
The documented maintenance-rate range runs from 1.25% for a tier with 40× maximum leverage to 16.7% for a tier with 3× maximum leverage. Maximum leverage is not one universal setting for every market or position size. Larger notional bands can move a position into a lower-maximum-leverage tier, increasing its maintenance requirement.
| Market | Notional band | Maximum leverage | Documented next band |
|---|---|---|---|
| BTC | 0–150 million USDC | 40× | Above 150 million USDC: 20× maximum leverage |
| ETH | 0–100 million USDC | 25× | Above 100 million USDC: 15× maximum leverage |
| SOL | 0–70 million USDC | 20× | Above 70 million USDC: 10× maximum leverage |
These are documented mainnet examples. The applicable tier depends on the market and your position’s notional size. A trader using the same nominal leverage on two assets can therefore face different maintenance requirements.
When Hyperliquid liquidates a position
Hyperliquid defines liquidation as the point at which account equity falls below required maintenance margin. The liquidation engine uses mark price, which combines external centralized-exchange prices with Hyperliquid’s own book state. It does not rely on one instantaneous trade or one potentially manipulated order-book print.
Recommended Free Tools
Rank #4
- Digital Family Calendar: BSIMB digital calendar wall touch screen puts an end to your chaotic life. Designed for busy families, the digital calendar keeps you organised and in step with your family. Assign different colours and tasks to each family member to make family scheduling easier and more intuitive.
- Easy Setup and Auto-Sync: Plug in, connect to WLAN and auto-syn your electric calendar in minutes. Digital wall calendar compatible with Google calendar, iCloud calendar, Outlook calendar, Cozi calendar and Yahoo calendar. Add events directly on the device or through the ecalendar app. Electronic calendar stays current whether you're at work or traveling—no manual updates needed.
- All-In-One Home Assistant: Smart calendar builds habits and encourage independence with personalised chores. Display daily meal plan to reduce the daily ‘What's for dinner?’ stress. To-do lists keep track of everything you want. Turning chores into valuable achievements with stars and rewards, making life easier and more enjoyable.
- Manage Anytime Anywhere: BSIMB electronic calendar for family stay connected with the powerful ecalendar app. Access and manage your digital wall calendar anytime, anywhere with free features like stars & rewards, photo screensaver, chore charts, meals plans, to-do lists etc. Electronic planner paid features like Magic Import tailor advanced tools for users with special needs.
- Stay in Touch with Loved Ones: Share photos or videos from your phone to electronic wall calendar with app, instantly update your life moment, and keep in touch with your family, especially those who are far away; you can also surprise your smart calendar digital wall by sending him a wish card; it's also great for keeping tech-illiterate elders in touch with the youngsters.
Liquidation sequence
- Mark-price evaluation: The system continuously evaluates equity and maintenance requirements using the mark price.
- Trigger: Liquidation becomes necessary when equity falls below maintenance margin.
- Market liquidation attempt: The system first attempts to close the position with market orders.
- Large-position handling: For a liquidatable position larger than 100,000 USDC, the first liquidation order is 20% of the position. A 30-second cooldown rule governs subsequent action.
- Backstop intervention: If book liquidation is unsuccessful and equity falls below two-thirds of maintenance margin, the HLP liquidator vault can take over as a backstop.
Maintenance margin is not returned during backstop liquidation. The partial-order process is intended to reduce market impact and give the order book an opportunity to absorb the position rather than immediately dumping the entire size.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Liquidation-price formula for cross and isolated margin
Hyperliquid documents this liquidation-price formula:
liq_price = price − side × margin_available ÷ position_size ÷ (1 − l × side)
In the formula, l = 1 ÷ MAINTENANCE_LEVERAGE. The side value is 1 for a long position and −1 for a short position.
What counts as available margin
- Cross margin:
margin_available = account_value − maintenance_margin_required. - Isolated margin:
margin_available = isolated_margin − maintenance_margin_required.
The difference is crucial. Cross liquidation reflects the account’s shared value and all maintenance requirements in the cross account. Isolated liquidation reflects only the collateral assigned to that position and its own maintenance requirement. Adding or removing collateral, changing leverage, opening another position, or moving into a different notional tier can change the result.
Why a displayed liquidation price is not a guaranteed execution price
The formula produces a threshold based on the current inputs. The actual close can occur across one or more market orders, and the mark price can differ from the last traded price. Fast markets, gaps, funding, fees and changing maintenance tiers can therefore make the final execution price different from a value calculated from a stale snapshot. Treat the displayed liquidation level as a risk boundary, not as a guaranteed fill.
Portfolio margin: useful, but still pre-alpha
Hyperliquid describes portfolio margin as pre-alpha rather than as a mature replacement for standard cross and isolated margin. It unifies eligible spot and perpetual positions and can borrow against qualifying collateral. The system evaluates a portfolio margin ratio based on maintenance requirement divided by liquidation value.
An account becomes liquidatable when the portfolio margin ratio exceeds 0.95. Liquidation order is not deterministic: the documentation warns that, depending on oracle update order, perpetual positions or spot borrows may be liquidated first. Traders should not assume that the largest, riskiest or least profitable position will always be closed first.
The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Because portfolio margin is pre-alpha, it should be treated as a separate risk model from standard cross and isolated margin. A hedge that looks protective under one price update can have a different effect when collateral values and oracle inputs update in another order.
Practical checks before opening a Hyperliquid perp
- Confirm the product: Verify that you are trading a perpetual or spot instrument. Do not infer that an interface label or third-party description represents a native options contract.
- Check your fee tier: Review rolling 14-day weighted volume, maker or taker execution, and the UTC-day assessment timing.
- Identify the collateral mode: Confirm whether the position is cross or isolated before submitting the order.
- Read the market tier: Check the asset’s notional band and maximum leverage. A larger position can move into a lower-leverage tier.
- Calculate maintenance headroom: Compare account or isolated equity with the maintenance requirement, not just with the opening margin.
- Monitor mark price: Risk is evaluated from the mark price, which can differ from the last trade and from a single visible book level.
- Leave room for execution effects: Funding, fees, slippage and rapid price movement can consume the buffer before a manually calculated threshold is reached.
- Treat portfolio margin separately: If using the pre-alpha system, account for its 0.95 liquidation ratio and non-deterministic liquidation order.
What this means for someone looking for options
If your goal is to trade calls, puts or other expiring contracts, the published Hyperliquid material does not yet answer the questions that matter most: option premium fees, strike and expiry availability, exercise or cash settlement, collateral rules for short options, portfolio Greeks, assignment, and an options-specific liquidation formula.
The documented perpetual fee rates and margin formulas cannot substitute for those rules. A perpetual position has no expiry and uses hourly funding; an option normally has a finite term and a premium that changes with volatility and time. Until an official options specification is available, use Hyperliquid’s published figures only for the perpetual and portfolio-margin products they actually describe.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
