In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial step towards the mainnet launch of its prediction market-style trading platform. With the prediction market sector witnessing a staggering 300% surge in trading volume to $63.5 billion in 2025, Hyperliquid is strategically positioned to compete with established players like Kalshi and Polymarket. A key highlight of the fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The document outlines six detailed scenarios covering minting, trading, burning, and settlement.
Furthermore, traders utilizing Hyperliquid's aligned quote tokens can benefit from reduced taker fees by 20% and increased maker rebates by 50% compared to standard rates. The full fee formula has been made available for developers, underscoring the platform's commitment to transparency. The introduction of outcome tokens, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events alongside perpetuals and spot positions, all within a single account, posing a direct challenge to platforms like Polymarket.
Notably, Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has seen significant adoption, accounting for over 35% of the platform's trading volume since its launch in October 2025. Currently, outcome tokens are available on testnet, with a mainnet launch date yet to be confirmed.