Quicknode

July 26, 2026 — 14 min read

Choosing a blockchain used to be as much about community as technology. Ethereum builders stayed on Ethereum and Solana builders stayed on Solana, as loyalty did most of the deciding.

Today, the decision looks more like infrastructure due diligence. Developers evaluate execution environments, data access, performance, ecosystem fit, and long-term operating costs before committing to a blockchain.

Hyperliquid has become one of the clearest examples of that shift. Its onchain order book, deep liquidity, and fast execution have attracted a growing ecosystem of applications beyond perp trading itself.

But building on Hyperliquid comes with its own economic model. Some costs are familiar, such as gas and infrastructure. Others are unique to Hyperliquid's architecture, deployment mechanisms, and market design.

This guide breaks down the developer economics of Hyperliquid and answers one question: what does it actually cost to build on Hyperliquid?

Why Hyperliquid Developer Costs Are Difficult to Estimate

Ask three Hyperliquid builders what they pay and you get three different answers, and none of them are wrong.

The cost of building on Hyperliquid is still mostly guesswork. But why? The reason traces back to how the chain is built.

Hyperliquid's Architecture Determines Developer Costs

Hyperliquid runs two execution environments, HyperCore and HyperEVM, under one consensus layer, separating trading from general-purpose computation.

HyperCore maintains the order books, matches trades, settles perpetual and spot markets, and tracks positions. Applications integrating directly with HyperCore do not pay gas simply to access the trading engine. For most developers, the recurring costs of a HyperCore integration come from the infrastructure needed to consume and serve its data.

HyperEVM exists for applications that require programmable execution. Deploying contracts, updating state, and executing contract logic consume gas paid in HYPE through an EIP-1559 fee market. Gas only becomes part of the cost model when an application chooses to use HyperEVM.

That distinction is easy to miss because many production applications use both systems.

• A trading application may read market data from HyperCore while settling strategy logic on HyperEVM.

• A prediction market launched through HIP-4 may rely on HyperCore for trading while using HyperEVM for surrounding application logic.

This is why two products built on Hyperliquid can have completely different operating costs. One may never deploy a contract or pay protocol gas. Another may spend most of its budget on contract execution and infrastructure while barely interacting with the exchange itself.

Bonus: Learn exactly what a developer stack to build on Hyperliquid looks like.

Architecture explains where costs originate. The next question is which parts of Hyperliquid a product actually touches and how to account for it.

Four Ways to Build on Hyperliquid

The quickest way to estimate developer costs is to identify which path a product follows. This decides the whole cost profile: the protocol fee, who pays for it, and whether any of it comes back.

To simplify, we have identified four common Hyperliquid product paths:

Each path has a different cost profile. HyperCore integrations (frontends, wallets, trackers, bots) pay mainly for infrastructure and can earn builder codes. HyperEVM applications add gas for deployment and execution. HIP-3 perpetual-market deployers and HIP-4 prediction-market deployers add staking, auction, and market-operation costs, and can earn a deployer fee share.

Thumb rule for developer costs on Hyperliquid:

1. Reading HyperCore is free of protocol gas.

2. Executing smart contracts on HyperEVM costs gas.

3. Creating new markets requires capital commitments through HIPs.

Next, let us rule out the biggest money headache: infrastructure costs. They show up immediately regardless of which path a product follows.

Hyperliquid Infrastructure Costs for Developers

The first recurring developer expense on Hyperliquid is the infrastructure needed to keep an application connected, responsive, and synchronized with the blockchain.

These expenses apply to almost every serious application, whether it is a trading frontend, analytics dashboard, AI agent, or DeFi protocol. They also tend to grow with usage, making infrastructure one of the largest long-term operating costs for builders.

The most common pieces of infrastructure every product on Hyperliquid needs are:

Two decisions usually determine this bill more than traffic itself:

1. Managed vs self-hosted infrastructure. Managed providers reduce operational overhead at a predictable cost. Self-hosting offers more control but shifts maintenance, scaling, and reliability onto the engineering team.

2. Polling vs event-driven architecture. Applications built around WebSocket subscriptions, caching, and incremental updates generally consume fewer resources than systems repeatedly polling the network for the same information.

Once these two are decided, it is simpler to budget and estimate infrastructure costs.

These ranges cover infrastructure (RPC access, WebSockets, and related services) rather than engineering salaries, audits, or application hosting. Infrastructure costs usually rise only after a product needs higher request limits, continuous streaming, dedicated endpoints, redundancy, or low-latency guarantees.

Note: Self-hosting might seem like an automatic reduction in bills, but engineering effort for redundancy and maintenance costs money and time.

Read: Best Hyperliquid RPC Providers 2026: Full Comparison

Quicknode offers a comprehensive infrastructure solution with full HyperCore and HyperEVM support, gRPC streaming, and broad protocol coverage. Pricing is flexible, starting with a free trial, with paid plans scaling based on your request volume.

Infrastructure is the baseline cost of building on Hyperliquid. The next major cost enters when smart contracts, or HyperEVM gas, come into the equation.

When HyperEVM Gas Becomes a Developer Cost

HyperEVM is a fully EVM-compatible execution environment where every transaction consumes gas paid in HYPE. It follows an EIP-1559 fee market, where each transaction includes a base fee and a priority fee (tip). Both fees are burned.

HyperEVM gas also scales with computation: a token transfer, a vault rebalance, and a contract deployment do different amounts of work and cost accordingly.

HyperEVM Gas Fees Explained: What Smart Contracts Cost on Hyperliquid

The good news is that many Hyperliquid applications do not need to execute everything on HyperEVM.

Smart contracts can read HyperCore order books, positions, balances, oracle prices, and other exchange data through free-to-query precompiles. Gas only becomes necessary when an application needs to write state, deploy contracts, or execute business logic that requires trustless onchain execution.

Knowing which actions consume gas is only half the picture. For budgeting, the more useful question is how much those actions actually cost today. In dollar terms, at current HYPE prices, that table looks like this:

Typical HyperEVM Gas Costs

Approximate costs are based on recent HyperEVM gas prices (about 0.148 Gwei standard gas) and the HYPE market price. Actual costs fluctuate with network conditions and token price.

At current network conditions, HyperEVM gas is rarely the largest line item in a developer's budget.

What are Priority Fees on Hyperliquid?

HyperCore recently introduced two optional priority mechanisms aimed at latency-sensitive traders.

1. Gossip priority auctions pay HYPE for faster data delivery, roughly a 70 to 150ms improvement on reads.

2. Order priority pays up to 8 bps of a fill's notional for better queue placement, worth about 45ms per basis point paid.

Both mechanisms burn the HYPE paid and allocate priority through Dutch auctions.

What Priority Fees Actually Cost

Recent onchain activity shows that priority fees are largely a cost borne by professional trading firms rather than typical applications.

Takeaways:

1. Order priority activity is concentrated on HIP-3 markets such as XYZ100, CL, SILVER, and GOLD.

2. Order priority fees look cheap because they scale with your own trade size (bps of notional, HIP-3 IOC orders only).

3. Gossip priority is expensive because it is a fixed 5-slot auction where price reflects how many other bidders want the same early data stream.

4. The gossip priority average may be skewed by concentration, since one address accounts for over half of all-time read-priority spend.

Source: Hyperscreener, Priority Fees

For most builders, these mechanisms can be ignored entirely unless the product competes on execution latency or market-making performance.

Now that we have covered what trading engines and programmable execution cost, let us look at the cost of launching new markets.

HIP-3: Cost of Launching Perpetual Markets on Hyperliquid

What is HIP-3?

HIP-3 (Hyperliquid Improvement Proposal 3) enables permissionless perpetual markets. Instead of relying on the Hyperliquid team to list new assets, developers can launch their own markets by satisfying the protocol's deployment requirements.

That introduces three separate economic commitments:

1. Capital locked in the HIP-3 stake.

2. Ongoing cost of operating the market.

3. Risk that the market never generates enough volume to justify either.

The upfront HIP-3 capital requirement, 500,000 HYPE, needs to be staked. At current HYPE prices, that represents more than $30 million in bonded capital.

That capital has an opportunity cost. At a reference staking yield of approximately 2.37%, the economics of a HIP-3 deployment look like this:

The stake also carries slashing risk. Validator quorum can partially or fully slash a deployer for harmful market inputs, poor specifications, compromised keys, or operational failures.

Note: No HIP-3 deployer has been publicly slashed to date.

Operating Costs of HIP-3 Deployment

A HIP-3 deployer may also need to fund:

• oracle design and monitoring

• data or index licensing

• key security

• liquidity and market-making support

• incident response

• ongoing engineering

There is no standard published operating budget because the cost depends heavily on the underlying market. For instance:

• A crypto perpetual using readily available price feeds may be relatively lean.

• A market tracking equities, commodities, or proprietary indices can introduce licensing, compliance, and settlement complexity.

Reality of HIP-3 Fee Sharing

HIP-3 deployers receive 50% of the trading fees generated by their markets, creating a clear path to revenue for successful deployments.

A market only earns fees after attracting sustained trading activity. Until then, deployers continue to bear the opportunity cost of locking 500,000 HYPE alongside the ongoing costs of operating the market.

In practice, fee generation is also highly concentrated: over 90% of current HIP-3 open interest sits with one operator, TradeXYZ.

For that reason, fee sharing should be treated as potential upside rather than an assumed offset against the costs of launching a HIP-3 market.

When Does HIP-3 Make Economic Sense?

HIP-3 is most defensible when the market itself is the product. A team should be able to answer three questions before treating deployment as viable:

• Is there enough unmet demand to support a billion-dollar monthly volume?

• Does the team have the operational capability to maintain the market continuously?

• Is owning the market worth bonding more than $30 million instead of integrating an existing one?

For most wallets, frontends, analytics products, bots, and DeFi applications, the answer is no. Integrating existing Hyperliquid markets avoids the stake, slashing exposure, oracle burden, and liquidity problem while preserving access to HyperCore trading activity.

HIP-4 introduces prediction markets on Hyperliquid, which follow a different deployment model with their own economics, governance, and cost structure.

HIP-4: Cost of Launching Prediction Markets on Hyperliquid

HIP-4 extends Hyperliquid's permissionless market model to prediction markets. Developers can launch markets around real-world events, elections, sports, economic releases, or any outcome that can be resolved objectively.

While the deployment flow resembles HIP-3, the economics are still emerging.

Known Costs of HIP-4 Deployment

Why are the other numbers unknown?

HIP-4 launched on mainnet on May 2, 2026 as validator-curated only. Permissionless deployment was announced on July 20, 2026 but is not live yet. That means there is no deployer auction data, no independent-deployer volume, and no concentration pattern to measure.

Any break-even calculation today would depend on assumptions rather than observed market data. Builders should therefore evaluate HIP-4 primarily as a product decision, not an investment model.

Infrastructure, HyperEVM gas, and market deployment explain where most costs originate. Hyperliquid also includes mechanisms that can offset some of those costs, turning activity and market creation into potential revenue.

How Builders Can Offset Hyperliquid Fees: Builder Codes and Fee Sharing

Every cost so far has moved in one direction: out. This section is where some of it comes back. Depending on what is being built, the protocol includes mechanisms that can offset infrastructure, deployment, or operating costs over time.

The common pattern is straightforward: integrators earn from order flow, while deployers earn from market activity.

By this point, every major cost category has been covered. The remaining question is practical: which of these costs actually apply to a given product?

How Much Does It Actually Cost to Build on Hyperliquid, By Project Type?

By now, it is clear there is not a single cost of building on Hyperliquid. The budget depends on which parts of the platform a product interacts with. The table below summarizes where each type of application typically spends money.

Hyperliquid does not ask every developer to pay the same bill. It asks different products to pay for the parts of the system they actually use. That is what makes its cost model feel unfamiliar at first and far more predictable once the architecture behind it becomes clear.

Understanding the cost model is only half the equation. The next step is choosing infrastructure that meets demand and serves without failure at scale.

Getting Started Building on Hyperliquid With Quicknode

Quicknode supports both HyperCore and HyperEVM through a unified developer platform, so builders can connect to Hyperliquid without running their own infrastructure. For trading applications, analytics platforms, and AI agents, it provides production-ready access through a single endpoint.

View current pricing: quicknode.com/api-credits/hyperliquid.

More Quicknode resources for Hyperliquid builders:

1. Hyperliquid API Overview, Quicknode Docs

2. 建立一個即時Hyperliquid 警報機器人

3. 閱讀 HyperEVM 中的 HyperCore Oracle 價格

4. Real-time risk monitoring and liquidation analytics API for HyperLend Protocol on Hyperliquid

5. Comparison of the top 6 Hyperliquid RPC providers for HyperCore and HyperEVM

SDKs and Tools

Hyperliquid Python SDK (also on PyPI), Hyperliquid API Examples, Hyperliquid SDK Examples, HyperCore CLI, and hyperliquidapi.com.

這些資源綜合起來，為開發者提供了從 RPC 存取到即時事件處理及鏈下邏輯等全方位功能，使Quicknode 在Hyperliquid 上部署應用程式、市場及分析Quicknode 快Quicknode 。

Understanding Developer Costs Makes Building on Hyperliquid More Predictable

Unpredictability was the actual problem this guide set out to solve, not the fee numbers themselves.

The first question is not what the gas fee is, or how much it costs to launch. It is: what is this application actually trying to do? Everything else, gas, infrastructure, staking, and offsets, follows from that answer.

Once the execution environment and build path are clear, the remaining costs become far easier to estimate, budget, and optimize.