> ## Documentation Index
> Fetch the complete documentation index at: https://hypernova.xyz/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading Fees

> Fee schedule and funding for trading on Hypernova

Hypernova uses a flat, transparent fee schedule. The maker rate is 0.00% on every market; taker rates differ by asset class. No tiers, no hidden surcharges, no payment-for-order-flow.

## Trading Fees

| Fee Type           | Rate   | Applies To                                                                   |
| ------------------ | ------ | ---------------------------------------------------------------------------- |
| **Maker (all)**    | 0.00%  | Resting limit orders that fill at your price                                 |
| **Taker (crypto)** | 0.03%  | Crypto perps - market, stop, take-profit, stop-loss, marketable limit orders |
| **Taker (TradFi)** | 0.005% | Equity, commodity, index, and FX perps - same trigger/marketable order types |

<Info>
  **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.
</Info>

### Maker vs Taker

* A **limit order resting inside the spread** when it fills earns the **maker** rate (0%).
* 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. Aggressive execution costs 0.03% notional on crypto, 0.005% notional on TradFi (equities, commodities, indices, FX).

### Worked Examples

| Trade                                      | Fee                                     |
| ------------------------------------------ | --------------------------------------- |
| Market buy 1 BTC @ \$50,000                | `1 × 50,000 × 0.0003`  = **\$15.00**    |
| Limit buy 0.5 ETH @ \$3,000 (resting fill) | `0.5 × 3,000 × 0.00`   = **\$0.00**     |
| Stop-loss sell 2 SOL @ \$150               | `2 × 150 × 0.0003`     = **\$0.09**     |
| Market sell 100 AAPL @ \$200               | `100 × 200 × 0.00005`  = **\$1.00**     |
| Market buy 1 GOLD @ \$2,400                | `1 × 2,400 × 0.00005`  = **\$0.12**     |
| Market buy 100,000 EURUSD @ \$1.08         | `100,000 × 1.08 × 0.00005` = **\$5.40** |

## 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.

| Detail        | Behavior                                                                                     |
| ------------- | -------------------------------------------------------------------------------------------- |
| **Cadence**   | Charged every hour, on the UTC hour boundary                                                 |
| **Source**    | Funding rate sourced live from Hyperliquid for each symbol                                   |
| **Direction** | Positive funding → longs pay shorts. Negative funding → shorts pay longs                     |
| **Sizing**    | `payment = position notional × funding rate` (sized at oracle price at the funding boundary) |

<Tip>
  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.
</Tip>

## Other Costs

| Item              | Cost                                                                                                                                                  |
| ----------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------- |
| Account creation  | One-time evaluation fee, paid up front. See [Starting an Assessment](/docs/starting-an-assessment)                                                         |
| Deposits          | No platform fee. On-chain network gas applies (paid by you when sending USDC in)                                                                      |
| Payouts           | No platform fee. **Gas sponsored by Hypernova** - you sign, we broadcast. The vault keeps the configured profit-share split - see [Payouts](/docs/payouts) |
| Inactivity        | None                                                                                                                                                  |
| Withdrawal limits | None                                                                                                                                                  |

## Frequently Asked

<AccordionGroup>
  <Accordion title="Are fees the same for crypto and TradFi markets?">
    Maker is 0.00% across the board. Taker rates differ: 0.03% on crypto and
    0.005% on TradFi (equity, commodity, index, and FX perpetuals).
  </Accordion>

  <Accordion title="Do I pay fees on losing trades?">
    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.
  </Accordion>

  <Accordion title="When is funding charged?">
    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.
  </Accordion>

  <Accordion title="Are taker fees charged on the trigger price or the fill price?">
    On the fill price. A stop-market that triggers at \$50,000 but fills at
    \$50,050 (slippage) pays fees on \$50,050 × size.
  </Accordion>

  <Accordion title="Do reduce-only orders pay fees?">
    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.
  </Accordion>
</AccordionGroup>

***

Fees and funding rates are subject to change. The most current values are always shown on the order panel before you confirm a trade.