Hyperliquid slashes taker fees with new HIP-3 growth mode

According to the project’s latest parameters, the comprehensive taker fee for eligible new markets drops from the standard 0.045% to a range of 0.0045%–0.009%. Under the highest collateralization and trading-volume tiers, fees can fall even further, to between 0.00144% and 0.00288% for top users, with Growth Mode available as a toggle that each deployer can apply on a per-asset basis.

The change is built on top of HIP-3, Hyperliquid’s permissionless market framework that lets builders launch their own perpetual futures markets on HyperCore. Under HIP-3, deployers stake 500,000 HYPE tokens to gain the right to list perps, configure oracles and leverage limits, and operate markets alongside the core validator-run pairs. That upgrade went live on mainnet on October 13 and introduced safeguards such as validator slashing and open-interest caps for HIP-3 markets.

Growth Mode is designed to make it cheaper for traders to try out those newly created HIP-3 markets. Instead of facing the standard taker fee schedule, traders on markets where the deployer has enabled the feature will pay the reduced comprehensive fee band, with further discounts unlocked when positions meet the top collateral and volume thresholds defined in Hyperliquid’s current tiering system.

Hyperliquid describes HIP-3 Growth Mode as a tool to deepen liquidity across emerging trading pairs and asset classes launched via HIP-3. By letting deployers elect into low-fee configuration without additional approvals, the protocol aims to attract liquidity providers and traders to markets that are still building order-book depth, while keeping the permissionless deployment model intact.

The new fee band sits within a broader expansion of HIP-3 activity in recent weeks. Builders have begun using HIP-3 to secure tickers for non-crypto assets such as Apple and Microsoft via community-driven market deployments, and earlier analysis has highlighted HIP-3’s potential to bring stocks, indices, FX and commodities on-chain through perpetual contracts running on HyperCore and HyperEVM.

The Growth Mode launch also follows a period of heightened usage and stress-testing for the protocol. In October, Hyperliquid processed around $10 billion of liquidations during a wider $19.3 billion leveraged washout in crypto markets without reported disruption to its matching engine, while its HYPE token rebounded from local lows as HIP-3 went live on mainnet.

With the fee cut now in effect, HIP-3 deployers can decide when to activate Growth Mode as they bring new markets online, using lower taker fees as an incentive lever alongside existing HIP-3 mechanics such as staking requirements, validator oversight and oracle configuration. How widely the feature is adopted will depend on builders’ appetite to subsidize early-stage markets and traders’ willingness to route volume into the new HIP-3 listings.