A Hyperliquid referral code can give an eligible user a 4% discount on fees for their first $25M in volume. The official docs also say referrers receive 10% of referred users' fees, less any fee discount, for the referred user's first $1B in volume. The discount does not remove trading risk, funding costs, slippage, or liquidation risk.
Fee discount for an eligible referred user's first $25M in volume.
Reward based on referred users' fees, less any fee discount, for the user's first $1B in volume.
The official docs say users can create a referral code after doing $10,000 in volume.
Before you use a code
- Confirm you are not in a restricted jurisdiction before using a trading interface.
- Use the referral link or enter the code before trading from the wallet you intend to use.
- Check the fee calculator so you understand the difference between maker, taker, one-way, and round-trip costs.
- Remember that discounts do not remove funding, slippage, liquidation, protocol, or oracle risk.
Current status
As of the latest review, the official referral page says users can apply a code from the referrals page or a referral link. Referral terms can change, so this page should be reviewed monthly before running paid traffic or major campaigns.
How to apply a code
- 1Check that you are in an eligible jurisdiction before using any trading interface.
- 2Open the official Hyperliquid referrals page or use a referral link.
- 3Connect the wallet you plan to trade from.
- 4Enter the referral code before placing trades, if the page prompts for one.
- 5Confirm the referral status and estimate fees before opening a position.
What the referral terms mean
First $25M volume
The user discount applies only up to the referred user's first $25M in volume.
Why it matters: High-volume traders should check when the discount stops.
First $1B volume
Referrer rewards apply to the referred user's first $1B in volume.
Why it matters: This is why referral revenue depends more on volume than on signup count.
Vaults and sub-accounts
The official docs say referral discounts do not apply to vaults or sub-accounts.
Why it matters: Traders using more complex account structures should verify the discount on the account they trade from.
Fee calculator
Uses official fee table values for the selected market type and tier. Funding, slippage, liquidation, deployer fees, and builder fees are not included.
FAQ
What does a Hyperliquid referral code do?
The official docs say using a referral code gives a 4% fee discount for the user's first $25M in volume, subject to Hyperliquid's rules.
What does the referrer earn?
The official docs say referrers receive 10% of referred users' fees, less any fee discount, for the user's first $1B in volume.
Does a referral code make trading safer?
No. A referral code may affect eligible fees, but it does not change leverage, liquidation, funding, or protocol risk.
Can I use a referral code with a vault or sub-account?
The official referral docs say referral discounts do not apply to vaults or sub-accounts because those are treated as independent accounts in the clearinghouse.
Is this site independent?
Yes. This is an independent educational site and may earn referral rewards if you use our link.
Related guides
Use the referral page together with the fee and restriction pages before trading.
Hyperliquid fees
See maker, taker, volume tier, referral discount, and funding cost notes.
Fee calculator
Estimate one-way or round-trip fees before placing a position.
Canada guide
Review Canada-specific access notes and the Ontario restriction warning.
Ontario restriction
Restriction clarity only. This page intentionally has no referral CTA.
Official referral page
Always verify the current referral status and account-specific eligibility in the official interface before relying on a discount.
Open official referrals pageSources
- Hyperliquid Docs: ReferralsAccessed 2026-05-04
- Hyperliquid Docs: FeesAccessed 2026-05-04