Pesquisa verificada por fontes: Hyperliquid

What a Hyperliquid referral code actually does

Hyperliquid is an on-chain exchange: you connect a wallet (or log in with email) instead of opening a custodial account, and there is no KYC form where a code box would normally sit. The referral code is therefore tied to your wallet address, not to a username. Once it is set, the Hyperliquid fee schedule you pay is reduced by 4% for as long as your cumulative volume stays under $25 million.

The discount is a percentage of the fee, not a percentage of your trade. On the base tier (VIP 0, under $5 million of 14-day weighted volume), Hyperliquid charges 0.045% taker and 0.015% maker on perpetuals, and 0.070% taker and 0.040% maker on spot. Here is what 4% off those rates works out to, using our arithmetic on the published schedule:

That is modest per trade. It matters for active traders: someone opening and closing $10,000 perpetual positions with market orders ten times a week pays about $90 in taker fees at the standard rate (20 fills × $4.50) and about $86.40 with the code, every week, until the $25 million cap.

How to enter the code, step by step

1. Open the referral link or the Referrals page. Either visit app.hyperliquid.xyz/join/NEXU888, which carries the code with it, or go to app.hyperliquid.xyz/referrals and type the code in the field. 2. Connect. Hyperliquid's onboarding guide lists two ways in: an EVM wallet such as Rabby or MetaMask, or logging in with an email address and a six-digit code sent to that inbox. 3. Enable trading. If you use a wallet, the app asks you to sign a gas-free "Enable Trading" message. Nothing is spent at this step. 4. Confirm the code. Check the Referrals page shows the code against your address before your first order, so the discount is in place from the first fill. 5. Deposit. USDC can be sent from Arbitrum, Ethereum, Base or Polygon, and Hyperliquid also accepts BTC, ETH, SOL and several other assets on their native chains, which you then sell for USDC on the exchange. Trading itself is gas-free; only the deposit costs network gas.

Our step-by-step Hyperliquid onboarding guide covers the wallet and test-deposit part in more detail.

The limits that matter

Vaults and sub-accounts do not get it. Hyperliquid's docs say referral discounts do not apply to vaults or sub-accounts because the clearinghouse treats them as independent accounts. If you plan to trade from a sub-account, the 4% applies only to the master address.

Builder codes override referral codes, order by order. Many people reach Hyperliquid through a front-end inside another app, such as a wallet's built-in trading tab or a mobile app; Hyperliquid's docs name Dexari, MetaMask and Phantom as interfaces. Such interfaces can attach a builder code, which lets them charge their own fee on each order. Hyperliquid states that builder codes override referral codes for that order. In practice: if you want your referral discount on every trade, place orders on app.hyperliquid.xyz itself, and check whether the interface you use adds its own fee.

The discount ends at $25 million. Referral discounts apply to your first $25 million of volume. Hyperliquid counts spot volume double toward fee tiers, but the docs do not say the discount cap is weighted the same way, so treat $25 million as cumulative trading volume.

One wallet, one code. Because the code attaches to an address, a new wallet starts with no code. If you move to a fresh wallet, enter the code again before trading from it.

Referral code vs HYPE staking discount

Hyperliquid has a second, larger discount for people who stake its HYPE token. Staking tiers range from Wood (more than 10 HYPE staked, 5% off fees) through Bronze (100 HYPE, 10%), Silver (1,000, 15%), Gold (10,000, 20%) and Platinum (100,000, 30%) to Diamond (more than 500,000 HYPE, 40%). Hyperliquid's fee table shows a Diamond-tier base perp taker rate of 0.0270%.

For most new traders the referral code is the practical option: it costs nothing and takes one step, while staking requires buying and locking HYPE, with the price risk that comes with it. The docs do not say whether the 4% referral discount stacks on top of a staking discount, so do not plan around both.

Volume also lowers fees on its own. At more than $5 million of 14-day weighted volume, perps drop to 0.040% taker and 0.012% maker; at more than $25 million they drop to 0.035% and 0.008%. Fees are assessed at the end of each UTC day on a rolling 14-day window.

How to act on this

If you trade perpetuals on-chain, setting the code before your first order is the easiest saving available on Hyperliquid: open app.hyperliquid.xyz/join/NEXU888, connect, and check the Referrals page shows NEXU888 before you deposit. Then compare what you would pay elsewhere: our Binance vs Hyperliquid comparison puts the two fee schedules side by side, and the Hyperliquid vs dYdX breakdown covers the other big perp DEX. Before holding a position overnight, check the funding-rate board, because funding often costs more than trading fees over a few days.

What we could not verify

Hyperliquid's documentation does not say whether a code already attached to an address can be replaced, or whether a code entered after your first trades applies retroactively. We found no official statement on either point, so enter the code before trading.

Quick answers

What is the Hyperliquid referral code? NexuAlpha's code is NEXU888; the referral link is app.hyperliquid.xyz/join/NEXU888.

How much does a Hyperliquid referral code save? 4% of your trading fees for your first $25 million of volume, per Hyperliquid's docs.

Where do I enter it? On app.hyperliquid.xyz/referrals, or by opening a /join/ referral link before you connect.

Do I need KYC? Hyperliquid's onboarding guide asks only for an EVM wallet or an email login; it lists no identity verification step.

Does it work in MetaMask or Phantom? Those apps can route orders through a builder code, which overrides the referral code for that order. Trade on app.hyperliquid.xyz to be sure the discount applies.

Can I create my own code? Yes, after you have traded $10,000 of volume, from the same Referrals page.