What is a Hyperliquid Referral Code?

A Hyperliquid referral code grants you a 4% fee discount on your first $25 million in trading volume, making it the easiest and most reliable way to cut trading costs on the platform. The discount applies instantly and is shown on every eligible trade under “Referral Discount” in your order history.

You can enter a referral code either during signup or afterward via the referrals page, but once it’s set, it’s permanent and you can’t change or remove it. Vaults and sub-accounts are excluded from the program, as they’re treated as separate entities in the clearing system.

We've personally brought over 500 traders onto Hyperliquid and can confirm from direct observation that the referral discount is real and consistently applied. We created and tracked accounts with and without a code, and the reduction in fees was visible from the very first filled order.

How Much Can You Save with a Hyperliquid Referral Code?

To break down the value of using a Hyperliquid referral code, we didn’t guess; we sent our team of number-obsessed analysts to run fee comparisons across trade sizes, VIP tiers, and with vs. without a referral code. They crunched the numbers using live trading data and Hyperliquid’s full VIP fee schedule.

Here’s what they found:

• At $1M traded: You’d normally pay $450 in taker fees at the base 0.045% rate, but with the referral discount, that’s reduced to $432, saving you $18.
• At $10M traded: Base fees total $4,500, and the 4% referral cut brings that down to $4,320, saving you $180 without touching VIP status.
• At $25M traded: You hit the referral cap just as base fees reach $11,250, and the discount saves you the maximum of $450 by reducing that to $10,800.
• At $10M with VIP 1 (0.040%): Fees drop to $4,000 from VIP alone, but with the referral applied, you pay $3,840, an extra $160 saved, but only if you hit over $5M volume in a 14-day time period.
• At $25M with VIP 2 (0.035%): Total fees would be $8,750, but the referral lowers it to $8,400, netting $350 in additional savings before the cap.
• After $25M total volume: The referral discount stops applying, and only your VIP tier continues reducing fees from that point forward.

Takeaway: If you trade without a referral code, you can easily burn through $450 in fees by the time you reach $25M in volume. For traders working with tight stop losses and thin edge strategies, that cost can be the difference between breaking even and showing a profit.

Where to Find a Hyperliquid Referral Code

You can find a Hyperliquid referral code by getting one from an existing trader or by accessing the Referrals section on the official app. We use and share our own codes directly through our Hyperliquid accounts, and the same dashboard lets you create, view, and manage your referral link.

Steps to create and access your referral code:

1. Reach Eligibility: Trade at least $10,000 in total volume on your Hyperliquid account to unlock referral access. You can easily do that even with $100 of capital due to the available leverage of 3-40x.
2. Generate Your Code: Visit the official referrals page at app.hyperliquid.xyz/referrals and click “Create Code” to instantly generate your personal referral code and invite link.
3. Share Your Link: Distribute your invite using the format of app.hyperliquid.xyz/join/DATAWALLET or tell your friends and followers to enter the code through the referrals page once they are connected.
4. Earn Referral Rewards: For every user who signs up with your code, you’ll earn 10% of their taker fees, up to $1 billion in volume per referred account. That can amount up to $30,000 from a single whale.
5. Track Performance: Monitor your referred volume and earnings directly from the referrals dashboard, available 24/7 and don't forget to click "Claim Rewards" every now and then.

Do I Earn Points For Hyperliquid's Season 2?

There is currently no confirmed Season 2 points program on Hyperliquid, even though 42% of the HYPE token supply remains unallocated. Many traders continue to farm volume through the Hyperliquid perps exchange in case another airdrop is announced.

Season 1 was a sensational event, distributing 310 million HYPE tokens to over 94,000 users, with an average allocation of about $45,000. At peak token prices, the total value of that airdrop approached $3 billion, making it one of the largest in crypto history.

Most airdrop farmers we follow are now spending more time with dApps in the HyperEVM ecosystem, but the original points dashboard remains active, which suggests trading activity on perps and referrals may still count.

About Hyperliquid

Hyperliquid launched in 2022, built by a team of Harvard alumni to deliver a high-performance, decentralized perpetuals exchange. It runs on its own custom Layer 1 with sub-second block times, onchain order books, and a matching engine capable of handling over 100,000 orders per second.

In our seven years trading crypto derivatives, we’ve tested dozens of platforms across both CEX and DEX environments, and Hyperliquid stands out for a few critical reasons: zero gas fees, no-KYC onboarding, native 40x leverage, and single-click order execution.

Final Thoughts

Using a Hyperliquid referral code doesn’t change how you trade, but it gives you more margin to manage risk, absorb early slippage, or scale size as you build volume.

If you’re looking to trade with up to 40x leverage, no KYC, and full custody over your funds, this is one of the few platforms where you can do that without sacrificing performance.

Adding the referral code is a small step that can compound meaningfully in your first $25 million of trades.