In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial step towards the mainnet launch. The prediction market sector has witnessed a remarkable surge, with trading volumes exceeding $63 billion in 2025, and Hyperliquid is strategically positioning itself to compete with established players like Kalshi and Polymarket. A key feature of the platform is the absence of fees for opening positions, with charges only applicable when closing or settling trades. The fee structure encompasses six scenarios, including minting, trading, burning, and settlement.
Traders utilizing Hyperliquid's aligned quote tokens can expect more favorable rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates. The introduction of outcome tokens, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events, in addition to perpetuals and spot positions, all within a single account. This move is seen as a direct challenge to platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, has already shown significant traction, with permissionless perpetuals accounting for over 35% of the platform's trading volume since its introduction in October 2025.
Currently, outcome tokens are available only on the testnet, with no confirmed mainnet launch date.