Builder fees and the ceiling you approve

An order names a builder address and rate. Your main wallet must first approve that builder’s maximum; Hyperliquid rejects orders above it.

Hyperliquid collects the fee on each fill and records the amount in the fill history.

• The perpetual-market ceiling is 0.1%; your approved maximum cannot be higher.
• Only your main wallet can approve or raise the ceiling. An API wallet cannot.
• You can approve up to ten builders at once and revoke any approval.

0.03% is $3.00 for each $10,000 filled. A 0.05% approval allows at most $5.00 on that amount. Opening and closing are both charged on their filled value.

Helmsman’s planned rate is 0.03%, with a 0.05% approval ceiling. Builder fees are its only revenue: no subscription or share of trading results. The ceiling is not an extra charge; the protocol accepts rates within it without a new approval.