Key takeaways
- Outcome trading fees apply on closing or settlement, not opening.
- At Skew's scale of 1, the combined outcome fee is 10 bps for maker closes and 14 bps for taker closes or settlement.
- Skew currently charges no additional frontend builder fee.
- Outcome tokens do not earn maker rebates; otherwise rebate-eligible makers pay zero outcome maker fees.
- Skew's current mainnet configuration and numeric rates are confirmed by its product team; the linked deployer API reference is labelled Testnet-only.
Skew's configured outcome trading rates
Skew confirmed Hyperliquid's base rates of 5 bps for maker closes and 7 bps for taker closes on October 27, 2026. Settlement uses the taker rate. Skew adds an equal deployer component at its configured scale of 1. One basis point is 0.01%.
Skew currently adds no frontend builder fee to these outcome trading fees. The product team confirmed that the app uses mainnet. The numeric rates and configuration here are product-team confirmations; the cited deployer API reference is labelled Testnet-only.
| Event | Hyperliquid receives | Skew receives | Combined outcome fee |
|---|---|---|---|
| Opening a position | 0 bps | 0 bps | 0 bps (0%) |
| Maker execution to close | 5 bps | 5 bps | 10 bps (0.10%) |
| Taker execution to close | 7 bps | 7 bps | 14 bps (0.14%) |
| Settlement / payout | 7 bps | 7 bps | 14 bps (0.14%) — taker treatment |
A resting limit order that provides liquidity receives maker treatment when it executes. A limit order that immediately takes liquidity receives taker treatment for that execution. The word “limit” alone does not guarantee the maker rate. Hyperliquid's exception for otherwise rebate-eligible makers still applies: those makers pay zero outcome maker fees rather than receiving a rebate.
How deployer fees change what you pay
Skew uses a deployer fee scale of 1, confirmed by the product team on October 27, 2026. Hyperliquid's deployer API reference was labelled Testnet-only when checked on that date. The alternative scales below illustrate that published mechanism; Skew's current configuration is confirmed separately by its product team.
The setting deployerFeeScale can range from 0 to 10. For scale s, the outcome fee is the applicable base fee multiplied by s + max(s, 1). The deployer receives s times the base fee, and Hyperliquid receives max(s, 1) times the base fee.
The table assumes a $1 fee before this multiplier, not a $1 trade. It illustrates a hypothetical market deployed by Skew and excludes separate builder fees.
| Fee scale | Trader pays | Skew receives | Hyperliquid receives |
|---|---|---|---|
| 0 | $1.00 | $0.00 | $1.00 |
| 0.5 | $1.50 | $0.50 | $1.00 |
| 1 | $2.00 | $1.00 | $1.00 |
| 2 | $4.00 | $2.00 | $2.00 |
Skew's scale of 1 doubles the applicable base fee and splits the outcome trading fee equally between Skew and Hyperliquid. The other rows illustrate alternative settings. Above 1, both portions increase equally: the deployer's share stays at 50% while the trader's cost increases. The $1 base fee is hypothetical.
Skew currently charges no builder fee
Skew's product team confirmed on October 27, 2026 that Skew currently charges no additional frontend builder fee. There is no builder surcharge on opening or closing a position through Skew under this configuration.
Hyperliquid's testnet reference permits an optional frontend builder fee, separate from the deployer fee, on outcome buys and sells. This protocol capability does not add a charge to Skew's current configuration.
A volume formula is not a fee rate
The documentation also describes how fee-paying volume is counted for each trade case. For example, settlement volume uses the settlement fraction multiplied by the share size. That formula calculates a volume contribution; it does not say the entire amount is charged as a fee.
A maker/taker figure on its own is not a complete cost calculation. Confirm the applicable rate, the event that incurs it, the amount it applies to and any relevant deployer component before using it in a net-return estimate.
| Case | Who pays a fee | Volume credited |
|---|---|---|
| 1. Minting | Neither side | No volume counted |
| 2a. Normal trade | One side | Both users: fee_paying_px × sz |
| 2b. Normal trade | Neither side | No volume counted |
| 3a. Burning | Both sides | Both users: (maker_px + taker_px) × sz = 1 × sz |
| 3b. Burning | Only the taker | Both users: taker_px × sz |
| 4. Settlement | Settlement fee rules apply | Each user: settle_fraction × sz |
Here, sz is share size, px is the price used in the specified case, and settle_fraction is the share's settlement fraction. These volume contributions do not specify the applicable percentage fee rate.
Compare net proceeds with the purchase cost
For a position held to settlement, start with the gross settlement payout, subtract the applicable fees and costs, then subtract the purchase cost to calculate the net result. For an early sale, use the actual sale proceeds and its applicable costs instead of a hypothetical winning settlement.
Our payout examples show gross payouts and results before fees. They are arithmetic illustrations, not account-specific fee quotes. Skew currently charges no additional builder fee. Price risk, spread, slippage and any separate funding or withdrawal costs also remain relevant.
Sources & method
Hyperliquid's documentation supports the outcome fee lifecycle, deployer multiplier and order mechanics. Skew's product team supplied the 5/7 bps base rates, scale of 1, taker treatment at settlement and absence of an additional builder fee on October 27, 2026, and confirmed that the app uses mainnet. The combined rates add the confirmed protocol and deployer components. The separate $1 example illustrates the multiplier and is not a measured trade. Spot and perpetual rate tables are not used as outcome rates. These owner-confirmed settings have not been independently audited against a filled trade; this guide is not an account-specific dollar-cost quote.
Examples explain mechanics, not expected returns. Trading can result in loss. Read the trading risks.
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