In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial component of its prediction market-style trading platform, signaling an imminent mainnet launch. The prediction market space has witnessed explosive growth, with trading volumes skyrocketing over 300% in 2025 to reach $63.5 billion, and Hyperliquid is strategically positioning itself to compete with established players like Kalshi and Polymarket.
A key highlight of the fee structure is that initiating a position incurs no costs, with fees only applicable when closing or settling a trade. The detailed structure encompasses six distinct scenarios, including minting, trading, burning, and settlement. Furthermore, traders utilizing Hyperliquid's aligned quote tokens are eligible for preferential rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates. The comprehensive fee formula has been made 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 within a single account, as Hyperliquid aims to rival platforms like Polymarket, which recently announced the imminent launch of perpetual trading. Hyperliquid's preceding upgrade, HIP-3, which introduced permissionless perpetuals for developers, has demonstrated significant traction, accounting for over 35% of the platform's total trading volume since its introduction in October 2025.
Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.