What Is the Hyperliquid Referral Code?

A Hyperliquid referral code connects your new account to the trader who invited you. Attaching one reduces your trading fees by 4% for the account's first $25 million in volume, as specified in Hyperliquid's referral documentation. Activate code DATAWALLET through the join link or enter it on the Referrals page.

Sites advertising a larger Hyperliquid referral bonus are describing that same 4% discount. The protocol has no deposit bonus or sign-up campaign of its own. Codes are widely available because any trader with $10,000 in volume can create one without submitting an application.

An account can hold only one referral code. Once it has trading history, Hyperliquid will not let you add or replace one. Vaults and sub-accounts are excluded because the clearinghouse, which settles each account's trades, treats them as separate accounts. Sub-account volume still contributes to the master account's fee tier.

How to Use Code DATAWALLET on Hyperliquid

Signing up through a code takes a few minutes and requires no identity documents. Your Hyperliquid account is a wallet address or an email login. When we retraced the process with a fresh wallet, only the final step needed particular attention.

1. Open the join link: Visit app.hyperliquid.xyz/join/DATAWALLET to load the app with the code pre-filled. You can also type DATAWALLET on the Referrals page.
2. Connect a wallet with no Hyperliquid history: Rabby, MetaMask, Coinbase Wallet and WalletConnect wallets all work. If your wallet has already traded on Hyperliquid, use a fresh address, as an existing trading account cannot accept a new code.
3. Decline any other code you are offered: Some wallets ask new Hyperliquid accounts arriving without a referral to attach the wallet's own code. MetaMask has done this. Accepting the prompt fills your only referral slot.
4. Enable trading and deposit: Sign the gas-free "Enable Trading" message. Then deposit USDC from Arbitrum or send BTC, ETH, SOL or another asset listed in Hyperliquid's onboarding guide. For USDC held on other chains, follow our bridge to Hyperliquid guide.
5. Confirm the code before trading: Check the Referrals page to make sure DATAWALLET appears as your referrer. This page also shows how much of your $25 million discounted allowance remains.

If you still need a wallet, our best Hyperliquid wallets comparison weighs the main options.

How Much Does the 4% Discount Save?

The code reduces each fee by 4%, so individual savings are small. Your total saving depends on trading volume and the markets you use. At Hyperliquid's base perps rate, takers pay 0.045% for orders that execute immediately against the order book. Makers pay 0.015% for limit orders that rest on the book until another trader matches them.

• $1 million in taker volume: Base fees total $450, with a saving of $18.
• $10 million in taker volume: At the base rate, fees reach $4,500 and the code saves $180.
• $25 million in taker volume: Base fees across the full discounted allowance amount to $11,250, capping the lifetime saving on crypto perps at $450.
• $25 million in maker volume: Resting orders incur $3,750 at the base maker rate, bringing the saving closer to $150.

At the default deployer setting, HIP-3 stock, index and commodity perps listed by outside teams charge twice the standard rate. The fees and savings therefore double. For $25 million in taker volume, that means $22,500 in fees and a $900 discount. Actual savings fall below these maximums once an account's 14-day volume exceeds $5 million, when the next fee tier lowers the base rate before the 4% discount applies.

How the Discount Combines With Other Hyperliquid Fee Cuts

Hyperliquid multiplies its discounts together, preserving any lower rate you have already earned. Under the official fee schedule, each account has one fee tier covering perps, HIP-3 perps and spot. The calculation uses rolling 14-day volume, with spot volume counting double. Our Hyperliquid fees guide lists every tier and rate.

• Volume tiers: Perps taker fees decline from 0.045% to 0.024% above $7 billion in 14-day volume. Maker fees reach zero from $500 million.
• HYPE staking: Fee reductions start at 5% for the Wood tier (more than 10 HYPE staked) and reach 40% at Diamond (more than 500,000 HYPE).
• HIP-3 growth mode: Deployers of new non-crypto markets can enable growth mode to lower all-in fees by at least 90%, bringing base taker rates to between 0.0045% and 0.009%.
• Stablecoin spot pairs: Trading one quote asset, a currency other markets are priced in, against another carries 80% lower taker fees.

For a base-tier trader with Gold staking status (more than 10,000 HYPE), the taker rate is 0.036%. DATAWALLET reduces it to 0.03456%. Hyperliquid's published developer formula applies the referral discount to the full HIP-3 fee, including the deployer's share. The maker rebates paid to its largest liquidity providers do not change.

USDC markets receive no additional fee reduction. Hyperliquid made USDC its preferred quote asset through the AQAv2 designation in May, but that status provides no fee or volume benefit, according to its aligned quote asset documentation. Staking and the referral code remain the discounts a USDC trader controls.

Hyperliquid Referral Codes vs Builder Codes

A wallet or app can charge an additional fee when you trade outside app.hyperliquid.xyz, and the referral discount does not reduce it. Wallets, trading terminals and bots submit orders through Hyperliquid's builder code system. Users approve each app's fee and set a maximum they can later revoke. Builder fees can reach 0.1% on perps and 1% on spot.

Referral codes belong to accounts. They reduce Hyperliquid's protocol fee by 4% and pay the person who invited you. Builder codes attach to individual orders and add an app charge. Both can apply to one trade, with the app fee usually having the greater effect. Adding a 0.1% builder fee to the 0.045% base taker rate more than triples a market order's cost. The referral discount trims less than 0.002 percentage points.

In the third quarter of 2026, DefiLlama's Hyperliquid dashboard recorded $23.95 million in builder code fees. Our Phantom Perpetuals review examines one of the largest app front-ends. Hyperliquid's own interface charges no builder fee.

How to Create Your Own Hyperliquid Referral Code

Once you reach $10,000 in trading volume, you can create a code and earn a share of your invitees' fees.

1. Reach $10,000 in volume: Perps volume counts at notional value, or the full leveraged position size. A few modest leveraged trades can therefore take a small account past the threshold.
2. Create the code: Choose a custom string on the Referrals page. Your shareable link will use the format app.hyperliquid.xyz/join/YOURCODE.
3. Share it before invitees trade: Friends need to open your link or enter the code before their first order. Accounts with trading history cannot be linked afterward.
4. Claim your rewards: Across each invitee's first $1 billion in volume, you earn 10% of their fees, minus the discount they receive. Rewards accrue in every quote asset and become claimable above $1. Claimed rewards arrive in your spot balance.

Can Everyone Use a Hyperliquid Referral Code?

Hyperliquid's terms of use block interface access for users in the United States, Ontario and sanctioned jurisdictions. Residents of those locations cannot sign up through any code. See our Hyperliquid supported and restricted countries page for the full list.

Access for US users may change. On August 19, President Trump said CFTC Chair Michael Selig was working to bring Hyperliquid into the country in a "fully compliant and legal fashion," The Block reported. Kraken parent Payward then announced plans on September 16 for permissioned HIP-3 markets serving US clients. Its CFTC-regulated Bitnomial exchange would deploy the markets, subject to regulatory approval.

Under Payward's design, US clients would hold futures accounts at a registered broker rather than connect a wallet to Hyperliquid's app. Nothing announced suggests Hyperliquid referral codes would apply to those accounts. Follow the CFTC process in our Hyperliquid USA availability guide, or see the best regulated perpetual exchanges in the USA for platforms US traders can use today.

How to Sign Up Safely

Use only the genuine Hyperliquid domain when signing up. Referral searches attract copycat sites, and cloned versions of the app have appeared behind paid search ads. These sites ask visitors to sign approvals that empty their wallets.

• Check the domain: Genuine join links begin with app.hyperliquid.xyz/join/. Our referral link directs you there.
• Keep your recovery phrase private: A referral or sign-up step never requires your seed phrase or private key.
• Limit builder approvals: Each account can hold up to 10 active approvals. Approve builder fees only for apps you intend to use.
• Clean up old permissions: Use our guide to revoking token permissions to remove stale token approvals from the wallet you use to fund Hyperliquid.

About Hyperliquid

Founded by Jeff Yan, Hyperliquid is a Layer 1 blockchain built around a fully onchain order book. HyperCore, its trading engine, holds perps, spot and outcome markets in one margin account. HyperEVM runs smart-contract apps alongside it. The core product remains perpetual futures, contracts that track an asset's price without an expiry date.

According to DefiLlama, Hyperliquid processed $205 billion in perps volume over the past 30 days and holds about $8 billion in open interest, the value of positions still open. Total open interest reached $14.3 billion in early September. In August, HIP-3 open interest set a record above $4.44 billion. Our Hyperliquid statistics page tracks these measures over time.

Through 2026, HIP-3 markets led by Trade[XYZ] have introduced 24/7 trading in stocks, indexes, oil and gold. These contracts are known as real-world asset perps.

On May 2, HIP-4 outcome markets went live with fully collateralized yes-or-no contracts, according to Galaxy Research. Also in May, Coinbase and Circle agreed to share most of USDC's reserve income on Hyperliquid with the protocol, replacing the exchange's own USDH stablecoin, CoinDesk reported.

The community receives trading fees through the HLP vault, market deployers and an Assistance Fund that buys and burns HYPE. US investors unable to use the exchange can still hold HYPE through the spot funds listed on our Hyperliquid ETF tracker.

Final Thoughts

Add a referral code before placing your first Hyperliquid trade. This account setting cannot be revisited, and trading without a code removes the option permanently. Code DATAWALLET costs nothing and applies the protocol's full 4% discount from the first order. Opening Hyperliquid through the code takes one click.

Larger savings come from using limit orders instead of market orders, staking HYPE and avoiding app front-ends with builder fees. Each affects trading costs more than the referral discount, and all combine with it multiplicatively.

If you expect to invite friends, create your own code after reaching $10,000 in volume. Your 10% share of each invitee's fees applies across their first $1 billion in volume, continuing long after their own discount expires.