Hyperliquid referral code
What the code actually does, how much it saves, and the one timing rule that matters.
Use code DEXSHEET (or open app.hyperliquid.xyz/join/DEXSHEET) to get 4% off Hyperliquid trading fees on your first $25M of volume. Set it before your first trade. Every valid code gives the same 4%; this one was last tested working on November 4, 2026.
Link tested November 4, 2026 · 4% off fees · first $25M of volume
How to apply the code
- Open the link above, or go to
app.hyperliquid.xyz/referralsand typeDEXSHEET. - Connect your wallet (or sign in with email). Hyperliquid accounts are wallet addresses; there's no separate sign-up form.
- Confirm the code shows on the Referrals page before your first trade.
- Deposit and trade. The discount is applied automatically to every fill until you've traded $25M.
Using trade.xyz for stock, index or commodity perps? Its link (app.trade.xyz/?ref=DEXSHEET) sets the same Hyperliquid referral, because trade.xyz markets run on Hyperliquid's own engine.
What 4% off actually saves
The discount is 4% of your fee, not 4 percentage points. At the entry fee tier (0.045% taker, 0.015% maker on perps):
| Volume traded | Perps taker saving | Perps maker saving | Spot taker saving |
|---|---|---|---|
| $10,000 | $0.18 | $0.06 | $0.28 |
| $100,000 | $1.80 | $0.60 | $2.80 |
| $1M | $18.00 | $6.00 | $28.00 |
| $25M (discount cap) | $450.00 | $150.00 | $700.00 |
So the maximum you can save at tier 0 is about $450 (all-taker perps up to the $25M cap). It's real money for an active trader and costs nothing, but it isn't a reason to trade more.
What a referral code doesn't do
- It isn't lifetime. "Lifetime discount" codes are marketing; the program caps the discount at $25M.
- It doesn't remove front-end fees. Wallets and apps that trade Hyperliquid for you (Phantom, MetaMask, Based and others) can add their own builder fee of up to 0.1% per trade on top. The official app adds none. See front ends compared.
- It doesn't apply to vaults or sub-accounts, which Hyperliquid treats as separate accounts.
- It doesn't change where you can trade. Country restrictions in Hyperliquid's terms still apply.
How we earn from this
When you use our code, Hyperliquid pays us a share of the fees you pay, under its standard referral program. It doesn't cost you anything beyond normal fees (you still get the 4% off), and it never changes what we write or how we rank anything. Full disclosure.
Questions people ask
What is the best Hyperliquid referral code?
Every valid code gives the same discount: 4% off trading fees on your first $25M of volume. DEXSHEET is ours; it was last tested working on November 4, 2026. Codes that promise a bigger or "lifetime" discount are not offering anything Hyperliquid's program actually pays.
Is the Hyperliquid referral discount lifetime?
No. Hyperliquid's documentation caps the 4% discount at your first $25M of trading volume. After that you pay normal fees (which still fall as your 14-day volume and HYPE staking grow).
Can I add a referral code after I have already traded?
Hyperliquid's docs don't state a cutoff, but third-party SDK documentation reports that an account keeps the first code it sets. Enter the code at app.hyperliquid.xyz/referrals before your first trade to be safe; if your account already has a code, the page will show it.
Does the code work on trade.xyz stock perps and spot?
Yes. Referral rewards and discounts apply across quote assets, and trade.xyz uses Hyperliquid's own referral system (its ?ref= link sets your Hyperliquid referrer), so one code covers core perps, HIP-3 markets such as trade.xyz, and spot.
Does it stack with the HYPE staking discount?
Yes. Hyperliquid's fee formula applies the staking discount (5% to 40% depending on HYPE staked) and the referral discount together, so both reduce what you pay.
Can I use Hyperliquid in the United States?
Hyperliquid's terms restrict access from the United States, Ontario and some other places. Read the current terms for your country before you sign up; we don't advise on ways around them.