In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, paving the way for a mainnet launch. The prediction market sector has witnessed a remarkable surge, with trading volumes exceeding $63.5 billion in 2025, a 300% increase. Hyperliquid is strategically building its infrastructure to compete with established players like Kalshi and Polymarket.
A key feature of the platform is that opening a position is free, with fees only applicable when closing or settling a trade. The fee structure, which includes six scenarios covering minting, trading, burning, and settlement, has been made public. Traders utilizing Hyperliquid's aligned quote tokens can benefit from reduced taker fees, which are 20% lower, and increased maker rebates, which are 50% higher than standard rates. The full fee formula is now 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. 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 allowed for permissionless perpetuals, has already accounted 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.