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Hypernova uses a transparent per-market fee schedule. Crypto and TradFi have different maker rates, while taker rates vary by market type. No tiers or hidden surcharges.

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Trading Fees

Formula: fee = quantity × fill price × fee rate. Fees are charged in USD on every fill and deducted from your account at the moment of execution.

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Maker vs Taker

  • A limit order resting inside the spread when it fills is charged the market’s maker rate: 0.01% on crypto and 0% on TradFi.
  • A limit order priced through the spread at placement (i.e. it would fill immediately) is treated as a marketable order and charged the taker rate for its asset class.
  • All market, stop-market, take-profit, and stop-loss orders are taker fills by definition.
Thoughtful limit-order placement can run at zero trading-fee cost on TradFi. Aggressive execution costs 0.04% notional on crypto and 0.005% on TradFi.

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Worked Examples

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Funding

Funding is separate from trading fees and applies hourly to open positions only. Resting orders that haven’t filled don’t pay or receive funding.
Funding is a transfer between traders, not a fee paid to the platform. A short position when funding is positive earns funding; a long position pays it. Closing a position before the next funding boundary skips that period entirely.

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Other Costs

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Frequently Asked

No. Crypto is 0.01% maker and 0.04% taker. TradFi is 0% maker and 0.005% taker.
Trading fees apply to every fill regardless of PnL - they’re charged on the notional value of the trade, not on profit. A losing trade is charged the same as a winning trade of the same size.
On the UTC hour boundary, for every position open during the prior hour. A position opened at 10:30 UTC and closed at 10:55 UTC pays no funding for that hour. A position open at 10:00 UTC pays funding sized at the 10:00 boundary.
On the fill price. A stop-market that triggers at $50,000 but fills at $50,050 (slippage) pays fees on $50,050 × size.
Yes. Reduce-only orders pay the same maker / taker fees as opening orders - the only difference is they can’t increase a position, only close or reduce it.
Fees and funding rates are subject to change. The most current values are always shown on the order panel before you confirm a trade.