Pear Protocol (pair trading on Hyperliquid)
One-click pair and basket trades on Hyperliquid: what Pear's 6 bps builder fee covers, how the legs actually fill, and the PEAR token mix-up to avoid.
Pear Protocol is a non-custodial front end that turns a view such as long SOL / short ETH into one pair or basket position, opening each leg as a normal perp on Hyperliquid. Pear's docs list 0.06% of total position size to open and 0.06% to close, charged once across all legs, plus Hyperliquid's taker fee, since Pear always fills as a taker. On $10,000 that is about $10.50 each way.
- What
- Trading front end
- Runs on
- HyperCore
- Official site
- pear.garden
- Docs
- docs.pear.garden
- Builder fees, 30 days
- $20.7K
- Builder fee
- perps 6 bps (0.06%) (on top of Hyperliquid's fee)
Checked against Pear Protocol's own site on November 4, 2026. Bookmark these instead of using search ads.
What Pear Protocol is
Pear Protocol trades relative value: instead of betting that SOL goes up, you bet that SOL does better than ETH. Its “Orchard” V3 engine turns that view into one synthetic position by opening a long perp leg and a short perp leg together, or a basket of up to 15 legs. Pear then shows profit and loss, net funding and take-profit/stop-loss on the ratio between the legs, with optional Auto-Rebalance and an AI assistant, Agent Pear, also on Telegram.
On Hyperliquid, each leg is an ordinary perp order on HyperCore, Hyperliquid’s trading engine and order book. Orders carry Pear’s builder code, and your collateral stays in your own Hyperliquid account; Pear says it never takes custody of trading funds. Pear also routes to Lighter, and its Pear Pro terminal adds Binance, Bybit and OKX. ERC-4626 vaults on HyperEVM, Hyperliquid’s smart-contract chain, are described as “launching soon”.
What it costs
Pear charges a builder fee, an extra charge Hyperliquid lets a front end add to each order, which you approve once.
| Cost | Pear (retail app) | Official Hyperliquid app |
|---|---|---|
| Builder fee to open | 0.06% of total position size | none |
| Builder fee to close | 0.06% of total position size | none |
| Hyperliquid fee | taker rate always (0.045% at entry tier) | 0.045% taker or 0.015% maker |
The 6 bps is charged once across all legs, not per leg. On a $10,000 pair (say $5,000 long and $5,000 short), opening costs about $10.50: $6.00 to Pear plus $4.50 in Hyperliquid taker fees. Closing costs the same again, so a round trip is about $21. On the official app, the same $10,000 of taker fills costs $4.50 each way, but you place and manage the two legs yourself. Model your own sizes in the fee calculator.
Discounts: staking PEAR as stPEAR cuts Pear’s fee from 5% (10,000 stPEAR, 5.7 bps) up to 50% (2.5 million or more, 3.0 bps), and referred users get 10% off, which stacks. Pear Pro charges 2 bps per open or close on Hyperliquid. Unstaking stPEAR early costs an exit fee of up to 20% in the first day, falling to zero after 31 days.
Pear doesn’t publish its Hyperliquid builder address, so unlike most front ends on this site we couldn’t check its rate against onchain fills.
How to use it
- Open app.pear.garden and connect a wallet, or sign in with email or social login. Pear suggests a wallet you don’t also trade on directly.
- Fund your Hyperliquid account with USDC.
- Link the account and sign Pear’s one-time builder-fee approval.
- Build a pair or basket (longs, shorts, weights, leverage), or pick a ready-made one. Check the ratio chart, correlation and net funding.
- Choose Market, Trigger, TWAP or Ladder, add optional TP/SL on the ratio, and open. Close from the positions view.
Risks and limits
- Both legs can lose. If the relationship you’re betting on breaks, you can lose on the long and the short together, and you may pay funding on both sides.
- Legs fill separately. Pear’s docs say legs are dispatched together but fill asynchronously, so each can fill at a different price.
- Liquidation. Each leg is a normal leveraged Hyperliquid position with its own liquidation price. Read how perpetual futures work.
- Off-chain engine. If Pear’s service is down, you may not be able to manage positions through Pear, though they remain on Hyperliquid.
- Builder-fee approval. While active, any order Pear submits can charge up to the maximum you approved. You can revoke it.
- Token mix-up. Pear’s HyperCore token shows under the ticker PAIR (token id 0xa29869e9df2d282afa5e2c1a6ca091ba). An unrelated token called PEAR also exists there. On HyperEVM, PEAR is 0x6b73113ac6d5455C17332098377a4B99AE553237.
- Region limits. Pear geo-blocks staking and parts of the app in restricted territories, and Hyperliquid’s terms restrict the US and Ontario.
Who it suits, and alternatives
Pear suits traders who think in spreads and baskets and want the legs managed as one position. If you only trade one direction at a time, a single-market front end is cheaper: Insilico Terminal charges 1 bp and Based 2.5 bps. See Hyperliquid front ends compared.
Pear’s referral program gives referred users 10% off Pear fees, and referrers earn a share of the fees their referrals generate. Pear doesn’t publish that share; it is shown in the app.
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
How much does Pear charge on top of Hyperliquid fees?
Pear's docs list 0.06% (6 bps) of total position size to open and 0.06% to close, charged once across all legs rather than per leg. You also pay Hyperliquid's taker fee, because Pear always executes as a taker on Hyperliquid.
Does Pear hold my funds?
No. On Hyperliquid your collateral stays in your own HyperCore account. Pear formats, signs and routes orders with its builder code attached, after you approve its builder fee once.
Do I need the PEAR token to use Pear?
No. Staking PEAR as stPEAR only adds fee discounts (5% at 10,000 stPEAR up to 50% at 2.5 million or more), vault priority and governance weight.
Can I trade baskets, not just pairs?
Yes. Pear's docs say a basket can hold up to 15 legs, longs and shorts combined, as one position, and all legs must be listed on the same venue.
Why does Pear's token show as PAIR on Hyperliquid?
Pear's docs link HyperCore spot token 0xa29869e9df2d282afa5e2c1a6ca091ba, which Hyperliquid lists under the ticker PAIR. A different, unrelated token named PEAR also exists on HyperCore, so check the token id before buying.