Hyperliquid has unveiled its fee structure for outcome tokens, paving the way for a mainnet launch and signifying a significant step towards competing with established players like Kalshi and Polymarket in the burgeoning prediction market space, which saw a 300% surge in trading volume in 2025 to $63.5 billion. The platform's novel approach features zero fees for opening positions, with fees only applicable when closing or settling trades. Six distinct scenarios have been outlined, covering minting, trading, burning, and settlement. Additionally, traders utilizing Hyperliquid's aligned quote tokens can expect more favorable rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates.
The full fee formula has been made available for developers. This development is particularly noteworthy as it follows the introduction of outcome tokens via the HIP-4 upgrade, which will enable users to trade binary contracts on real-world events, alongside perpetuals and spot positions, all within a single account, positioning Hyperliquid to rival platforms like Polymarket.
The previous HIP-3 upgrade, which introduced permissionless perpetuals for developers, has already 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.