Fees, Minimums, and Risks
Minimums
| Action | Minimum / Rule |
|---|---|
| Deposit | 5 USDC minimum |
| Withdraw | Amount must be greater than 1 USDC |
| Withdraw fee | 1 USDC |
| Send | Amount must be greater than 0 |
| Order | Minimum order value is 10 USDC |
| TWAP child order | Each child order must be at least 10 USDC |
Trading Fees
Trading through the Interface may involve separate protocol fees and a Trasia Builder Fee.
| Fee or Program | How It Works |
|---|---|
| Hyperliquid protocol trading fees | Apply to HyperCore-native markets according to the current Hyperliquid fee schedule, account tier, and market parameters |
| HIP-3 protocol trading fees | Apply to HIP-3 markets, including XYZ markets, according to the current protocol and market fee settings |
| Trasia Builder Fee | Separately approved when trading is enabled and capped at 5 bps |
| Builder Fee rebate | Eligible users may receive a rebate under the current Trasia rewards rules; eligibility, rates, and payment status can vary |
| Growth Mode | May reduce applicable protocol trading fees for eligible markets; current availability and rates are determined by the protocol |
Protocol fees, the Trasia Builder Fee, and any Builder Fee rebate are separate. A rebate does not change the protocol fee charged by Hyperliquid or a HIP-3 market.
Funding
Funding is exchanged between longs and shorts. When the rate is positive, longs pay shorts. When the rate is negative, shorts pay longs.
Margin and Liquidation Risk
Leveraged trading can result in liquidation. When margin risk is high, Trasia may warn you to add margin or reduce positions.
Trasia may show liquidation price, margin required, position value, and related account fields as estimates. Always review the latest values before submitting an order.
Order Risk
Market, Limit, Scale, Stop Market, Take Market, and TWAP orders can behave differently depending on liquidity, trigger conditions, slippage, tick size, and current market parameters. Review the order summary before submitting.
Stop Market and Take Market are trigger orders. Trigger execution is not guaranteed to happen at the trigger price.
Market Data Risk
Market data, account values, order status, and funding may be delayed, incomplete, or different from data shown by third-party protocols or APIs.
Network and Address Risk
Deposits and withdrawals can fail or be lost if you use the wrong network, token, or address.
For deposits, use native USDC on Arbitrum or HyperCore as shown in Trasia. Do not send unsupported assets.
Delisting Risk
If a market is delisted, it is removed from tradable lists and search. If you still hold a position in a delisted market, only reduce-only closing is allowed; new Long or Short actions are disabled.
Price and Parameter Risk
Oracle Price, Mark Price, External Price, and Discovery Bounds can affect displayed prices, triggers, margin, liquidation, and unrealized PNL. These terms are explained in Trading Perpetuals, but live market parameters are not fixed in this documentation.
Market-specific parameters may change. The protocol parameters applicable at the time of trading will govern.
Pre-IPO Market Risk
Pre-IPO style perpetual markets are cash-settled derivatives. They are not shares, IPO allocations, tokenized equity, voting rights, dividends, or claims against the referenced issuer. They can behave differently from listed equity markets, especially before external market data exists or during listing-related events.