Hyperliquid vs MSX: fees compared
Every fee that costs you money on Hyperliquid and MSX, side by side — trading fees at each VIP tier, withdrawal fees coin by coin, deposits and fiat. Sourced from each exchange’s own fee pages.
HyperliquidExchange
MSXExchangeThe short answer
- MSX charges 0–0.3% on spot / swap taker orders versus 0.07% on Hyperliquid.
- Futures taker fees are identical at 0.045%.
- Hyperliquid publishes the deeper VIP ladder (7 tiers), so high-volume traders can push fees lower there.
Head-to-head
| Fee | Hyperliquid | MSX |
|---|---|---|
| Trading fees | ||
| Spot / swap maker | 0.04% | 0–0.3%cheaper |
| Spot / swap taker | 0.07% | 0–0.3%cheaper |
| Futures maker | 0.015%cheaper | 0.02% |
| Futures taker | 0.045% | 0.045% |
| Lowest spot taker (top VIP tier) | 0.025%Tier 6 | 0%cheaperRegular |
| Fee tiers published | 7moreSpot trading | 1Spot trading |
| Fee discount with exchange token | — | — |
| Withdrawals & deposits | ||
| Coins you can withdraw | 1synced 2026-08-29 00:53 UTC | — |
| Median withdrawal fee (coins on both) | — | — |
| Cheaper withdrawal on… | — | — |
| Crypto deposit fee | — | Free |
| Exchange profile | ||
| Volume 24h (spot + derivatives) | $12.16BmoreOI $6.75B | $8.49B |
| Markets | DEX, Derivatives | Spot, Derivatives |
| Fiat currencies | — | — |
“Cheaper” marks the better number on that row only. A dash means we have not verified that fee for the exchange yet — it is not a claim that the fee is zero.
What would you actually pay?
- Trading (Regular · 0.04% / 0.07%)
- $550.00
- Withdrawals (no coin selected)
- —
- Trading (Regular · 0% / 0%)
- $0.00
- Withdrawals (no coin selected)
- —
At $1M of monthly spot volume (50% maker) plus 4 coin withdrawals, MSX costs $550.00 less per month — $6,600.00 a year.
Estimate only: it applies each exchange’s published VIP ladder for the market you picked, ignores token-payment discounts, referral rebates and promotional zero-fee pairs, and assumes every withdrawal uses the cheapest network above. Negative fees are maker rebates.
Spot fee tiers side by side
HyperliquidSpot trading
| Tier | 30d volume ≥ | Maker | Taker |
|---|---|---|---|
| Regular | — | 0.04% | 0.07% |
| Tier 1 | $5.00M | 0.03% | 0.06% |
| Tier 2 | $25.00M | 0.02% | 0.05% |
| Tier 3 | $100.00M | 0.01% | 0.04% |
| Tier 4 | $500.00M | 0% | 0.035% |
| Tier 5 | $2.00B | 0% | 0.03% |
| Tier 6 | $7.00B | 0% | 0.025% |
Source: Hyperliquid fee schedule ↗ · verified 2026-08-28
MSXSpot trading
| Tier | 30d volume ≥ | Maker | Taker |
|---|---|---|---|
| Regular | — | 0–0.3% | 0–0.3% |
Source: MSX fee schedule ↗ · verified 2026-08-28
Futures fee tiers side by side
HyperliquidFutures trading
| Tier | 30d volume ≥ | Maker | Taker |
|---|---|---|---|
| Regular | — | 0.015% | 0.045% |
| Tier 1 | $5.00M | 0.012% | 0.04% |
| Tier 2 | $25.00M | 0.008% | 0.035% |
| Tier 3 | $100.00M | 0.004% | 0.03% |
| Tier 4 | $500.00M | 0% | 0.028% |
| Tier 5 | $2.00B | 0% | 0.026% |
| Tier 6 | $7.00B | 0% | 0.024% |
Source: Hyperliquid fee schedule ↗ · verified 2026-08-28
MSXFutures trading — USDⓈ-M
| Tier | 30d volume ≥ | Maker | Taker |
|---|---|---|---|
| Regular | — | 0.02% | 0.045% |
Source: MSX fee schedule ↗ · verified 2026-08-28
Withdrawal fees, coin by coin
We have not synced withdrawal fees for MSX yet, so there is nothing to compare coin by coin. See Hyperliquid withdrawal fees →
Deposit, fiat, card and other fees
| Fee | Hyperliquid | MSX |
|---|---|---|
| Crypto deposit fee | — | Free |
Hyperliquid vs MSX — FAQ
Is Hyperliquid or MSX cheaper?
MSX charges 0–0.3% on spot / swap taker orders versus 0.07% on Hyperliquid. Futures taker fees are identical at 0.045%. Hyperliquid publishes the deeper VIP ladder (7 tiers), so high-volume traders can push fees lower there.
Which has lower trading fees, Hyperliquid or MSX?
Hyperliquid charges 0.07% taker / 0.04% maker on spot and 0.045% taker on futures at the entry tier. MSX charges 0–0.3% taker / 0–0.3% maker on spot and 0.045% taker on futures. Both drop as your 30-day volume grows — use the calculator above to price your own volume.
Which is cheaper for withdrawals, Hyperliquid or MSX?
We do not yet have withdrawal fees synced for both exchanges, so we can't compare them coin by coin.
How can I pay lower fees on Hyperliquid or MSX?
Both exchanges also cut maker/taker rates as your 30-day volume rises — Hyperliquid publishes 7 tiers and MSX publishes 1 tier. Choosing the cheapest withdrawal network matters just as much: on many coins the gap between networks is larger than the gap between exchanges.
Are these Hyperliquid and MSX fees up to date?
Trading fees are hand-curated from each exchange's official fee schedule and carry the date we last verified them (2026-08-28 for Hyperliquid, 2026-08-28 for MSX). Withdrawal fees are synced from each exchange's own API or fee page (last sync 2026-08-29 00:53 UTC for Hyperliquid). USD amounts are recomputed at the live coin price.
Other comparisons
Trading and other fee numbers are hand-curated from each exchange’s official fee pages (linked next to every tier table) and carry the date we last verified them. Withdrawal fees are synced from each exchange’s own API or fee page; USD amounts are computed at the current live coin price, so they move with the market. Rates exclude referral rebates, promotional zero-fee pairs and regional pricing. Full detail per exchange: Hyperliquid fees · MSX fees.