In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, which are essential for prediction market-style trading on the platform. This move indicates that the mainnet launch is imminent. The prediction market sector has witnessed tremendous growth, with trading volume increasing by over 300% in 2025 to $63.5 billion. Hyperliquid is developing infrastructure to compete with established players like Kalshi and Polymarket.
A key aspect of the fee structure is that there are no costs associated with opening a position. Fees are only applicable when a trade is closed or settled.
The structure outlines six scenarios, including minting, trading, burning, and settlement. Traders using Hyperliquid's aligned quote tokens can benefit from lower taker fees, which are 20% lower, and higher maker rebates, which are 50% higher than standard rates. The full fee formula is available for developers.
The introduction of outcome tokens through 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 competitive strategy against platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, which allowed developers to create permissionless perpetuals, has contributed to over 35% of the platform's trading volume since its introduction in October 2025.
Currently, outcome tokens are only available on the testnet, and a mainnet launch date has not been confirmed.