Glossary
Referral discount
A 4% reduction in trading fees for using a referral code, covering your first $25M of volume. It can only be applied before your first trade and does not cover vaults or sub-accounts.
Checked against the Hyperliquid documentation 8 Sept 2026 · how we check
Related terms
- Fee tier The band your trading fees fall into, set by your rolling fourteen-day weighted volume. Spot volume counts double toward it.
- Sub-account A separate trading account under the same wallet, useful for keeping strategies apart. The clearinghouse treats it as independent, so it does not inherit a referral discount.