Fees

All fee rates are expressed in basis points (bps). 1 bp = 0.01%.

Every market publishes its own taker fee. Read it from takerFeeTenthBp on GET /v1/rfq/instruments, in tenths of a basis point, rather than assuming a single venue-wide rate. As of 3 October 2026 spot markets charge 5 bps (0.05%) and perpetuals 1.4 bps (0.014%).

Makers are not charged.

Where the fee is taken

On spot, the fee is inside the all-in price a quote shows you. takerTotal is what you pay, fee included, and quoteLimit bounds that same all-in figure — so a quote wins only if its takerTotal is at or under your limit. There is no separate fee line on the trade. On a BUY the fee is the market's rate applied to what the winning maker receives; on a SELL, to the baseQty you deliver. The rate is the one in force when you submitted, not when the quote arrived.

On perpetuals, nothing is custodied and Silhouette moves no funds, so the fee cannot sit inside the quote. Hyperliquid charges it on your own account as a builder fee, at the same rate the instrument publishes. It is outside takerTotal and outside the RFQ's takerFee, and you approve the rate at the venue before requesting quotes.

The fee schedule will evolve as the venue matures.