1. The base rates the calculator uses (verified September 25, 2026)
A perp trading fee is notional × fee rate, paid once to open and once to close. These are the entry-tier rates behind every number on this page, with the cost of a $10,000 position opened and closed with market orders:
| Venue | Taker | Maker | $10k market-order round trip | Funding interval | Tier / note |
|---|---|---|---|---|---|
| Hyperliquid | 0.045% | 0.015% | $9.00 | Hourly | Tier 0 (≤ $5M 14-day volume); 7 tiers down to 0.024% / 0% |
| Lighter Standard | 0% | 0% | $0.00 | Hourly | Default account; 300 ms delay on taker orders and cancels, maker orders not delayed |
| Lighter Premium | 0.028% | 0.004% | $5.60 | Hourly | Opt-in, 140 ms taker latency; −2.5% to −30% with staked LIT |
| Aster | 0.04% | 0% | $8.00 | 8h on BTC/ETH (4h or 1h on many pairs) | Crypto General pairs, VIP 1; Group B 0.1% taker; RWA 0.0125% |
| edgeX | 0.045% | 0.04% | $9.00 | Every 4h | Regular (< $10M 14-day volume); VIP 1–6 down to 0.020% / 0.015% |
| Binance USDⓈ-M (reference) | 0.05% | 0.02% | $10.00 | 8h on BTC/ETH | Regular user; −10% paying in BNB; VIP needs volume and a BNB balance |
| Bybit (reference) | 0.055% | 0.02% | $11.00 | 8h (480 min) | Non-VIP; MNT column 0.0495% taker; wound down for Japan residents (positions force-closed 2026-07-22) |
Sources, all read September 25, 2026: Hyperliquid docs trading/fees.md; Lighter docs trading/trading-fees.md; Aster docs fees.md and the VIP Program tier table; edgeX VIP page; Binance and Bybit futures fee pages. Funding intervals from each venue's docs and public API (Lighter and Hyperliquid pay every hour; Aster's BTCUSDT and ETHUSDT settle every 8 hours, while 346 of its 584 live perps were on 4 hours and 47 on 1 hour; edgeX every 4 hours).
Three schedules move with size. Hyperliquid falls to 0.040% / 0.012% above $5M of 14-day weighted volume, 0.035% / 0.008% above $25M and 0.030% / 0.004% above $100M, with 0% maker from $500M (the calculator applies this ladder automatically). Aster VIP 2 (3.5 bps taker) needs at least $5M of 14-day volume and 500 ASTER. Lighter has no volume ladder: Standard is free and Premium gets cheaper only with staked LIT. Every tier table is in the lowest-fee DEX guide, and the full Hyperliquid schedule in Hyperliquid fees explained.
2. Three traders compared: monthly cost at entry-tier rates
The same maths as the calculator, for three typical profiles, with funding at the 0.01%/8h baseline paid by the trader's side:
- Scalper: $5,000 positions, 200 round trips a month ($2M volume), 20% maker, held 30 minutes.
- Swing trader: $10,000 positions, 20 round trips ($400,000 volume), 50% maker, held 48 hours.
- Active trader: $50,000 positions, 100 round trips ($10M volume, about $4.7M per 14 days, still Hyperliquid tier 0), 40% maker, held 4 hours.
| Venue | Scalper: fees + funding = total | Swing trader: fees + funding = total | Active trader: fees + funding = total |
|---|---|---|---|
| Hyperliquid | $780 + $6.25 = $786 | $120 + $120 = $240 | $3,300 + $250 = $3,550 |
| Hyperliquid + HOLYGRAIL (−4%) | $749 + $6.25 = $755 | $115 + $120 = $235 | $3,168 + $250 = $3,418 |
| Lighter Standard | $0.00 + $6.25 = $6.25 | $0.00 + $120 = $120 | $0.00 + $250 = $250 |
| Lighter Premium | $464 + $6.25 = $470 | $64.00 + $120 = $184 | $1,840 + $250 = $2,090 |
| Aster | $640 + $6.25 = $646 | $80.00 + $120 = $200 | $2,400 + $250 = $2,650 |
| edgeX | $880 + $6.25 = $886 | $170 + $120 = $290 | $4,300 + $250 = $4,550 |
| Binance USDⓈ-M (reference) | $880 + $6.25 = $886 | $140 + $120 = $260 | $3,800 + $250 = $4,050 |
| Bybit (reference) | $960 + $6.25 = $966 | $150 + $120 = $270 | $4,100 + $250 = $4,350 |
What the table shows:
- For a scalper the fee line is everything. Funding on 30-minute holds is only $6.25 a month, while fees run from $0 on Lighter Standard to $960 on Bybit. Lighter's free tier adds 300 ms to taker orders; for manual scalps that rarely matters, for bots it does (see our scalping DEX guide).
- For a swing trader funding is as large as fees. $120 of baseline funding a month on every venue, against $0–170 of fees. Picking the venue with lower funding on your pair can matter as much as the fee schedule.
- At $10M a month the gaps are four figures. Hyperliquid with HOLYGRAIL costs $3,168 in fees against $3,800 on Binance and $4,100 on Bybit; Aster is $2,400 because 40% of the flow is maker at 0%; Lighter Premium (140 ms) is $1,840.
- edgeX is the only venue where maker orders barely help: its 0.040% maker fee is close to its 0.045% taker fee until the VIP tiers.
Trade the deepest on-chain book for less
Hyperliquid with HOLYGRAIL: 0.0432% taker / 0.0144% maker at tier 0, gas-free orders, 4% off your first $25M of volume.
Zero fees instead: Lighter Standard · 0% maker: Aster · Stock and crypto perps: edgeX
3. How to calculate a crypto trading fee by hand
Every perp venue on this page charges its fee on notional value: the size of the position times the fill price. Your margin and leverage do not enter the fee formula.
Trading fee per fill = notional × fee rate
Round-trip fee = notional × (entry rate + exit rate)
Funding = notional × hourly funding rate × hours held
Total cost = round-trip fee + funding + spread + slippage
Worked example on Hyperliquid. You buy 0.12 BTC at $84,000 (notional $10,080) with a market order, then close it the next day with a limit order that rests on the book:
- Entry (taker): $10,080 × 0.045% = $4.54. With HOLYGRAIL: × 0.96 = $4.35.
- Exit (maker): $10,080 × 0.015% = $1.51. With HOLYGRAIL: $1.45.
- Funding for 24 hours at the baseline 0.00125% an hour: $10,080 × 0.00125% × 24 = $3.02.
- Total before spread: $9.07 without a code, $8.83 with HOLYGRAIL. The same trade with market orders on both sides would pay $9.07 in fees alone.
The same position on Lighter Standard costs $3.02 (funding only); on Aster, $4.03 taker entry + $0 maker exit + funding; on Binance, $5.04 + $2.02 + funding. Mixing order types is the single biggest lever most traders have: on Hyperliquid the maker rate is one third of the taker rate at tier 0. To reproduce this in the calculator, a month of 50 such round trips is $1,008,000 of volume with a 50% maker share and 24 hours of holding time.
4. Leverage, margin and the break-even move
Because fees are charged on notional, leverage multiplies them relative to the money you actually put up. A $1,000 margin at 10x controls $10,000 of notional; a $9.00 Hyperliquid taker round trip is then 0.9% of your margin, and at 40x (Hyperliquid's BTC maximum) the same $1,000 controls $40,000 and pays $36, or 3.6% of margin, every round trip.
| Venue (market orders both sides) | Break-even price move | As % of margin at 10x | At 25x |
|---|---|---|---|
| Lighter Standard | 0% | 0% | 0% |
| Aster (General pairs) | 0.08% | 0.8% | 2.0% |
| Hyperliquid + HOLYGRAIL | 0.0864% | 0.86% | 2.16% |
| Hyperliquid | 0.09% | 0.9% | 2.25% |
| edgeX | 0.09% | 0.9% | 2.25% |
| Binance USDⓈ-M | 0.10% | 1.0% | 2.5% |
| Bybit | 0.11% | 1.1% | 2.75% |
The break-even move is the round-trip fee rate: price has to move that far in your favour before the trade makes a cent, before spread and funding. For a scalper aiming at 0.2% moves, a 0.09% round trip eats almost half of each winner, which is why high-frequency manual traders gravitate to zero-fee or maker-heavy execution. Liquidation maths is separate; see the liquidation price calculator.
5. Funding: the cost that grows with time
Funding is paid between longs and shorts to keep the perp price near the index; it is not an exchange fee, but it is a cost (or income) of holding. The calculator applies one rate to every venue so that fee schedules can be compared, but real funding differs by venue. Measured on BTC over the 30 days to September 25, 2026 (public APIs):
| Venue | How often | BTC funding paid by longs, 30 days | On a $10,000 long held all month |
|---|---|---|---|
| Hyperliquid | Every hour (1/8 of the 8h rate) | 0.7664% (720 hourly payments) | $76.64 |
| Lighter | Every hour | 0.7640% (720 hourly payments) | $76.40 |
| Binance USDⓈ-M | Every 8 hours | 0.5421% (90 payments) | $54.21 |
| Aster | Every 8 hours | 0.4645% (90 payments) | $46.45 |
| Bybit | Every 8 hours | 0.4421% (90 payments) | $44.21 |
Windows: Hyperliquid 2026-08-26 09:00 → 09-25 08:00 UTC; Lighter 08-26 14:00 → 09-25 13:00; Binance and Bybit the same 90 intervals as Hyperliquid; Aster 08-26 16:00 → 09-25 08:00. Source: each venue's funding-history API, compiled in our fact file on September 25, 2026.
A month-long BTC long paid more in funding on Hyperliquid and Lighter than its round-trip fee ($76 against $9 on Hyperliquid), and roughly $30 more than on Bybit. For short holds the difference disappears; for multi-week positions it can outweigh every fee discount on this page. Lighter and Hyperliquid both use an interest component of 0.01% per 8 hours, so in a quiet market longs pay about 0.00125% an hour; Lighter caps funding at 0.5% an hour, Hyperliquid at 4% an hour. To model a venue's own rate, enter it in the funding box: 0.7664% over 30 days is about 0.0085% per 8 hours. Live rates and how to avoid funding bleed: funding rates explained.
6. Discounts: referral codes, staking, token payments and tiers
| Discount | Size | Conditions |
|---|---|---|
Hyperliquid referral (HOLYGRAIL) | −4% on taker and maker | First $25M of your volume; not vaults or sub-accounts; also on builder-coded orders from apps that trade from your account, such as Based or Liquid connected with the same wallet (the app's fee is extra; not fomo, which creates its own account); code must be added before the account passes $10,000 of volume |
| Hyperliquid HYPE staking | −5% (more than 10 HYPE) to −40% (more than 500,000) | Multiplies with the referral discount and the volume tier |
| Hyperliquid volume tiers | 0.045% → 0.024% taker | Rolling 14-day weighted volume, spot counted twice |
| Aster: pay spot fees in ASTER | −5% on spot only | ASTER in the spot wallet, “Pay fee in ASTER” on. Aster’s docs describe it for spot, not perps, so the calculator does not apply it |
| Aster VIP 2–6 | 3.5 → 1.6 bps taker | 14-day volume and an ASTER balance, both |
| Lighter LIT staking | −2.5% to −30% | Premium accounts only |
Lighter referral (718610TD) | First week of Premium fees rebated | Capped at $10M of volume; irrelevant on Standard |
| Binance: pay in BNB | −10% (0.045% taker, 0.018% maker) | BNB balance |
| Bybit: MNT column | 0.0495% taker for Non-VIP | As shown on Bybit's fee page |
A stacked example on Hyperliquid: Bronze staking (more than 100 HYPE, −10%) and HOLYGRAIL (−4%) give 0.045% × 0.90 × 0.96 = 0.0389% taker and 0.0130% maker at tier 0, cheaper than Binance with BNB (0.045%) on every taker fill. Pick Bronze in the calculator to see it. Details: Hyperliquid fees, HYPE staking, referral code HOLYGRAIL.
One warning for mobile traders: Hyperliquid front-end apps add a builder fee on top of Hyperliquid's own fee (Based +0.025%, Liquid and fomo perps +0.05%, Dexari +0.10%, as of September 2026). The Hyperliquid referral discount still applies to those orders if the account the app trades from carries a Hyperliquid code: it comes off Hyperliquid's part of the fee (0.0432% instead of 0.045% taker at tier 0), while the app's builder fee is charged in full unless the app has its own referral discount (checked on mainnet fills on October 1, 2026). In Based or Liquid connected with the same wallet, that code is your own (HOLYGRAIL if you joined with it). fomo has no wallet connection and creates its own account, which usually carries fomo's own Hyperliquid code, so HOLYGRAIL cannot apply there; the discount on fomo orders comes from fomo's code. One catch: apps such as Phantom often set their own Hyperliquid referral code on accounts that have none, so enter a code on Hyperliquid before you start using an app. Hyperliquid also refuses a new code after $10,000 of volume, so join with HOLYGRAIL before your first trade. On desktop, the official app with a referral code is the cheapest way to trade Hyperliquid.
7. Costs no fee calculator shows: spread, slippage, withdrawals
- Spread. A taker pays half the bid-ask spread on each fill. On September 25, 2026, BTC books were tight everywhere: about 0.12 bp on Hyperliquid, 0.01 bp on Lighter and Binance. On small-cap markets spreads of several basis points are common, more than the fee on some venues.
- Slippage on size. Simulated $1M BTC market buys on public order books that day averaged about +0.8–1.0 bp versus mid on Hyperliquid, +0.9–1.4 bp on Lighter and +0.4–0.5 bp on Aster; a $100,000 buy was under 0.5 bp on all three. For retail sizes on BTC, slippage is smaller than any taker fee; on altcoins, check the book. More in the slippage guide.
- Withdrawals. Orders are gas-free on Hyperliquid, Lighter, Aster and edgeX, but moving money is not: 0.2 USDC plus a tiny HyperEVM gas fee for USDC from Hyperliquid to Arbitrum; Lighter fast withdrawals need at least 4 USDC; Aster charges destination-chain gas from about 1 USDT; edgeX charges 0.1% (minimum $1) for non-Ethereum withdrawals. On a $500 account, a 0.2 USDC withdrawal is 0.04%.
- Special markets. Aster's Group B pairs charge 0.1% taker; Hyperliquid HIP-3 markets outside growth mode charge 0.090% taker; Lighter's advanced orders (such as TWAP) showed a 0.01% fee on Standard in the app on September 25, 2026.
- Liquidation. edgeX charges a 1% liquidation fee; Hyperliquid's docs say there is no clearance fee on liquidations. A single liquidation costs more than months of fees at modest size.
8. Which venue for which trader
- Manual scalper, small size: Lighter Standard (0% / 0%). The 300 ms taker latency rarely matters by hand. Open Lighter.
- Limit-order trader: Aster (0% maker at every VIP level, code
DTLpLc) or Lighter; on Hyperliquid, makers pay 0.0144% with HOLYGRAIL. - Active taker who wants depth: Hyperliquid with HOLYGRAIL plus HYPE staking; the deepest on-chain books and $4–8B of daily perp volume. Open Hyperliquid.
- Swing trader holding for days: the fee line is small; compare funding on your pair and pick the venue with the lower rate.
- Coming from Binance or Bybit: at the entry tier every DEX here is cheaper per taker fill, and Bybit wound down its service for Japan residents (close-only from March 23, 2026; remaining positions force-closed July 22, 2026). See CEX vs DEX fees compared side by side and Hyperliquid vs Binance.
Beyond fees, the best DEXs compared hub ranks each venue on depth, markets, leverage and safety; new to on-chain trading? Start with what is a DEX.
9. How the calculator works
- Volume and mix: monthly volume counts both fills of every round trip. The maker share pays the maker rate, the rest the taker rate. If you think in trades rather than volume, enter a position size and a number of round trips: the calculator sets volume = size × round trips × 2 and adds the cost per round trip to the total column.
- Hyperliquid: 14-day volume ≈ monthly × 14/30 sets the tier (0.045%/0.015% → 0.040%/0.012% above $5M → 0.035%/0.008% above $25M → 0.030%/0.004% above $100M → 0.028%/0% above $500M → 0.026%/0% above $2B → 0.024%/0% above $7B). The staking discount multiplies the tier rate. The table uses standard rates unless the referral box is ticked; the line under the result cards always shows the same profile with and without code HOLYGRAIL, whose 4% discount applies to the first $25M of volume. That $25M is a lifetime allowance, so the calculator assumes you have not used it up yet: after $25M of cumulative volume the referral line no longer applies.
- Lighter: Standard 0%/0%. Premium 0.0040% maker / 0.0280% taker before LIT staking discounts (not modelled).
- Aster: Crypto General pairs at VIP 1, 0% maker / 0.04% taker. The 5% pay-in-ASTER discount is documented for spot only, so it is not applied to these perp fees.
- edgeX: Regular tier, 0.040% maker / 0.045% taker.
- Binance / Bybit: Regular / Non-VIP USDⓈ-M perpetual rates (0.02%/0.05% and 0.02%/0.055%). Binance BNB discount 10%.
- Funding: (monthly volume ÷ 2) × (your 8-hour rate ÷ 8) × hours held. Half the volume is the notional you hold, because every round trip is two fills.
Sources (official pages behind every rate, with the date we last checked them)
- app.hyperliquid.xyz/referrals (verified October 19, 2026)
- docs.asterdex.com/trading/perpetuals/fees-and-specs/fees (verified October 19, 2026 · 2 figures)
- docs.lighter.xyz/trading/trading-fees (verified October 19, 2026 · 2 figures)
- hyperliquid.gitbook.io/hyperliquid-docs/referrals (verified October 19, 2026 · 2 figures)
- hyperliquid.gitbook.io/hyperliquid-docs/trading/fees (verified October 4, 2026 · 9 figures)
- hyperliquid.gitbook.io/hyperliquid-docs/trading/funding (verified October 19, 2026)
- pro.edgex.exchange/vip (verified October 14, 2026)
- binance.com/en/fee/futureFee (verified October 6, 2026 · 2 figures)
- bybit.com/en/announcement-info/fee-rate (verified October 15, 2026)