Based (Hyperliquid trading app)
A web terminal and mobile app for Hyperliquid perps, spot and HIP-3 markets: what Based adds to your fees, how $BASED staking changes them, and what to watch.
Based (based.one) is a trading terminal and mobile app built on Hyperliquid for perps, spot and HIP-3 markets. Its docs list a 0.025% builder fee on perps, so a taker trade costs 0.070% at Hyperliquid's entry tier, against 0.045% on the official app. Growth-mode perps carry 0.002% and spot sells 0.1%; staking $BASED cuts the builder fee by 30% to 100%.
- What
- Trading front end
- Runs on
- HyperCore
- Official site
- based.one
- Docs
- based.one
- Builder fees, 30 days
- $36.7K
- Builder fee
- perps 2.5 bps (0.025%); spot sells 10 bps (0.1%) (on top of Hyperliquid's fee)
Checked against Based's own site on November 4, 2026. Bookmark these instead of using search ads.
What Based is
Based (formerly BasedApp, now at based.one) is a trading app for Hyperliquid run by the Based Foundation. Its iOS app is published by SHA2 Labs Pte Ltd. You can use it as a web terminal at app.based.one, as an iOS or Android app, or on desktop. Based’s FAQ describes Hyperliquid as the core engine and Based as a terminal and app built on top: your orders fill on HyperCore, Hyperliquid’s trading engine and order book.
Based covers Hyperliquid perps, spot and HIP-3 markets (permissionless perp markets, such as stock perps, run by deployers who stake 500,000 HYPE). Order types include market, limit, scale, TWAP, stop and trailing stops. It also bundles Polymarket prediction markets, a Based Visa card, Hyperliquid vaults, a Telegram bot and API trading. Its $BASED token launched on March 30, 2026, with a fixed supply of 1 billion. Leverage runs from 3x to 40x depending on the asset.
What it costs
Based’s docs put it plainly: total fee = Hyperliquid fee + Based builder fee. A builder fee is an extra charge Hyperliquid lets a front end add to each fill, which you approve once.
| Trade | Based builder fee | All-in, entry tier | Official Hyperliquid app |
|---|---|---|---|
| Perps taker | 0.025% (2.5 bps) | 0.070% | 0.045% |
| Growth-mode perps | 0.002% (0.2 bps) | 0.011% | Hyperliquid fee only |
| Spot buy | none | 0.070% | 0.070% |
| Spot sell | 0.1% (10 bps) | 0.170% | 0.070% |
Growth-mode perps are mostly trade.xyz’s equity markets, where Hyperliquid’s own fee is reduced. Staking $BASED cuts Based’s builder fee by 30% (60,000+ tokens), 60% (300,000+) or 100% (600,000+).
On $10,000 of perps taker volume you pay about $7.00 through Based ($4.50 to Hyperliquid plus $2.50 to Based), compared with $4.50 on the official app. Hyperliquid’s volume tiers, HYPE-staking discounts and the 4% referral discount apply to the Hyperliquid part only. Run your own numbers in the fee calculator.
The documented rates matched onchain data: on November 2, 2026, 95% of Based’s core-perp builder volume paid exactly 2.5 bps, and most HIP-3 volume paid 0.2 bps.
How to use it
- Open app.based.one, or install the iOS or Android app from the links on based.one.
- Sign up with email or Google (an embedded wallet is created) or connect an existing wallet.
- Deposit USDC or crypto (converted to USDC for perps), or buy with a card, Apple Pay or Google Pay.
- Approve the builder fee when prompted, pick a Perps, Spot or HIP-3 market, set leverage and order type, and place the trade.
- Export your private key for backup (profile menu, “Export email private key”).
Risks and limits
- Leverage. Up to 40x on some assets. You can lose your entire margin, and liquidation follows Hyperliquid’s mark price. Read how perpetual futures work first.
- Spot sells cost more. The 0.1% spot-sell builder fee is four times the perps fee.
- Embedded wallets. Social-login accounts depend on Based’s embedded wallet until you export the key.
- Agent wallets can’t withdraw. Withdrawals and transfers need your main wallet or Hyperliquid’s own site.
- Region limits. Based restricts some countries, and Hyperliquid’s terms restrict the US and Ontario.
Who it suits, and alternatives
Based suits active traders who want a pro terminal and a phone app on the same account, plus extras like a card or prediction markets. If you only need perps, the official app charges no builder fee. Lower-fee terminals are Axiom and Insilico Terminal (1 bp each). Mobile-first alternatives are Dexari and Phantom. See best Hyperliquid trading terminals and Hyperliquid front ends compared.
Based runs a three-tier affiliate program: direct referrers earn 60% of Based’s fees from referred users, with smaller tiers below, for up to 76% in total.
Live figures: DefiLlama (TVL on the Hyperliquid L1 chain; fees on Hyperliquid), refreshed 2026-11-04 10:16 UTC. We don't rank by who pays us. How we check facts.
Questions people ask
What does Based charge on top of Hyperliquid?
Based's docs list a 0.025% builder fee on perps, 0.002% on growth-mode perps, nothing on spot buys and 0.1% on spot sells. Hyperliquid's own fee comes on top, so a perps taker trade costs 0.070% at the entry tier before $BASED staking discounts.
Does staking $BASED lower fees?
Yes. Based says staking 60,000+ $BASED cuts its builder fee by 30%, 300,000+ by 60%, and 600,000+ (Diamond) by 100%. Hyperliquid's part of the fee is unchanged.
Is Based self-custodial?
Based says it never takes custody of your funds. Accounts made with email or Google use an embedded wallet, and Based documents how to export its private key from the profile menu.
What is the difference between Based and Hyperliquid?
Based's FAQ says Hyperliquid is the core engine and Based is a trading terminal and app built on top of it. Orders fill on Hyperliquid's order book.
Which wallets work with Based?
Based's FAQ says Phantom can't sign HyperEVM transactions on Based and recommends Rabby or MetaMask instead.