In a significant development, Hyperliquid has unveiled the fee structure for its outcome tokens, which are central to the platform's prediction market-style trading. This move indicates that the mainnet launch is imminent.
The prediction market space has witnessed explosive growth, with trading volumes soaring over 300% in 2025 to reach $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 opening a position is free, with fees only applicable when closing or settling a trade. The structure outlines six scenarios, including minting, trading, burning, and settlement.
Traders utilizing Hyperliquid's aligned quote tokens are offered preferential rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates. The detailed fee formula is available for developers.
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 from 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, which introduced permissionless perpetuals for developers, has accounted for over 35% of the platform's total trading volume since its launch in October 2025. Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.