Hyperliquid vs Lighter: fees and real trading cost
Two on-chain perp books. Hyperliquid charges 0.045% taker at base; Lighter standard accounts pay nothing, so the gap on a market order comes down to fee against spread.
Live order book · updated · refreshed every 20 seconds
BTC futures market buy, Hyperliquid against Lighter
| Size | Hyperliquid fee + slippage | Lighter fee + slippage |
|---|---|---|
| $10,000 | $4.50 + $0.07 | $0.00 + $0.27 |
| $100,000 | $45.00 + $0.66 | $0.00 + $5.14 |
| $1,000,000 | $450.00 + $27.00 | $0.00 + $112.30 |
Try your own size on Hyperliquid
USDT
Hyperliquid fee · Tier 0 · 0.045%$45.00
Spread + slippage · live Hyperliquid book, 20:17:55 UTC$0.66 (0.00066%)
Total cost$45.66
Save 4% on fees using Hyperliquid referral code
This order: $45.00 → $43.20 in fees
Affiliate link to Hyperliquid: CostDepth may earn a commission.
Lighter is $40.52 cheaper than Hyperliquid for this order.
Same order on Lighter · Standard
Trading fee · Standard · 0%fee-free
Spread + slippage · live Lighter book, 20:17:55 UTC$5.14 (0.0051%)
Total cost$5.14
Lighter charges no trading fee. Join with referral code
Your only cost on Lighter is the spread: $5.14 (0.0051%) on this order.
What differs between Hyperliquid and Lighter
- Hyperliquid: Tiers use 14-day weighted volume, with spot counting double. Tier 6 (over $7B) pays 0.024% / 0%.
- Hyperliquid: Staking HYPE cuts fees from 5% (Wood, over 10 HYPE) to 40% (Diamond, over 500k HYPE).
- Lighter: Premium accounts get faster order handling for 0.004% maker / 0.028% taker, cut by up to 30% with LIT staked.
- Lighter: Funding is settled every hour, like Hyperliquid, so a 3-day hold counts 72 payments.