The short answer
There is no Upcomers spread markup on perpetuals. A normal bid–ask spread still exists. You pay a maker or taker fee on the value traded; the rate depends on the symbol and how the order fills. Current rates and exceptions are listed below.
Every market has a $10 minimum order value.
Maker and taker, explained
An order book only exists because some traders leave resting orders in it. The fee structure pays for that.
A maker order adds liquidity. It is a limit order that sits in the book waiting for someone else to trade against it. Because it makes the book deeper, it pays the lower fee.
A taker order removes liquidity. It is any order that fills immediately against what is already in the book, which includes every market order and any limit order priced so aggressively that it fills at once. It pays the higher fee.
The maker or taker fee is charged on traded value. A normal bid–ask spread still exists even without an Upcomers markup; funding is a separate holding cost.
Fees by market group
Rates checked on 6 November 2026. Check the fee displayed for your symbol before trading.
Market group | Maker | Taker |
Crypto perpetuals | 0.015% | 0.04% |
Stocks and ETFs, except MSTR and PURRDAT | 0.003% | 0.009% |
Indices, commodities including GOLD, and forex | 0.003% | 0.009% |
MSTR and PURRDAT | 0.03% | 0.09% |
What that costs in practice
On a $10,000 BTC position, a taker fill costs 0.04% × $10,000 = $4. A resting maker fill costs 0.015% × $10,000 = $1.50. Closing also incurs a fee based on that fill’s value and maker/taker rate.
On a $10,000 NVDA-PERP position, a taker fill is 0.009%, or 90 cents.
Fees are deducted from your balance, so like funding, they move your equity and count toward your drawdown.
Market orders and limit orders
A market order fills immediately at whatever is in the book. It always pays the taker fee, and on a thin book it can walk several price levels deep before it is filled.
A limit order fills only at your price or better. Placed away from the current price it rests in the book and pays the maker fee. Placed across the spread it fills at once and pays the taker fee.
On quiet hours and on the less liquid markets, the difference between the two is not just the fee. It is also the slippage.
Slippage
Your simulated fill is calculated using the available Hyperliquid order-book prices and depth. A larger order can consume several levels and receive a weighted-average price different from the top-of-book quote.
That gap is real market depth, not a charge from us, and it is not reimbursed. It widens when the book is thin, which on crypto means the quiet overnight hours and on stock or commodity perps means the whole weekend. See Markets never close: trading 24/7.
A limit order prevents fills worse than its limit price, but it may not fill. It earns the maker fee only if it rests and adds liquidity; an immediately marketable limit order is a taker.
The $10 minimum
Every market has a minimum order value of $10. That applies to the value of the position, not to the margin you post, so a $10 order at 10x leverage still uses $1 of margin.
Funding is not a fee
Funding is a payment between traders, not a charge from us or from Hyperliquid. It can be a cost or an income. Keep it separate from your fee calculations. See Funding rates, explained.
Where to go next
Read The perpetuals symbol catalog for per-market fees, Leverage and margin on perpetuals for how much margin an order locks, and What is Hyperliquid? for why the book is the price.
Need help?
Contact Upcomers support through live chat, the help center, or at [email protected].