In a move indicating an impending mainnet launch, Hyperliquid has released its fee structure for outcome tokens, which facilitate prediction market-style trading on the platform. The prediction market sector has seen a significant surge in trading volume, increasing by over 300% in 2025 to reach $63.5 billion, and 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 applying when a trade is closed or settled. The structure outlines six scenarios, including minting, trading, burning, and settlement.
Users of Hyperliquid's aligned quote tokens benefit from improved rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to 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 the existing perpetuals and spot positions, all within a single account, as Hyperliquid aims to rival platforms like Polymarket.
Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for 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.