In a significant development, Hyperliquid has released the fee structure for its outcome tokens, which are the foundation of its prediction market-style trading platform, indicating an imminent mainnet launch. The prediction market sector has witnessed explosive growth, with trading volumes skyrocketing over 300% in 2025 to reach $63.5 billion, and Hyperliquid is establishing itself as a major player by building infrastructure to rival established platforms 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 published document outlines six scenarios, including minting, trading, burning, and settlement. Traders utilizing 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 has been made available to 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, as Hyperliquid seeks to compete with platforms like Polymarket. Notably, Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals to developers, has accounted for over 35% of the platform's trading volume since its introduction in October 2025.
Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.