REFERRAL REBATE
Entropy Referral Code:
concept211
Sign up with this code and Entropy attaches its 25% referral benefit to your account automatically, paying back a share of every trade for as long as you trade. It costs you nothing, it never expires, and it can only be attached at signup. Below we show exactly what that 25% resolves to, which no other page covering this program does.
Disclosure: the link above is a referral link. If you trade through it we earn a share of the fees you generate, at no extra cost to you. It does not change what you pay. EntropyGuides is an independent site and is not affiliated with Entropy or Bursa Global Inc. See our disclaimer.
What the rebate is actually worth
Entropy quotes its referral tiers as percentages, and at the entry tier that figure is 25%. It is worth knowing what that 25% is calculated against, because it is not the fee you pay.
A HIP-3 trading fee is split roughly in half between Hyperliquid and the deployer. Entropy's rebate percentages apply only to Entropy's half. Their documentation works the example itself: on $100 of total trading fees, about $50 goes to Hyperliquid and about $50 to Entropy, so a 50% rebate returns $25, not $50.
So the entry tier hands back roughly 12.5% of every fee you pay, automatically, on every trade, for as long as the account trades. Against an effective taker fee already down at 0.0090%, that is the cheapest route into these markets we can measure. We spell the arithmetic out because no other page covering this program does, and because a number you can verify is worth more than a round one you cannot.
What each tier is really worth
| Tier | How you qualify | Published rate | Share of fees you pay |
|---|---|---|---|
| Tier 1 — Trader | None | 25% | ~12.5% |
| Tier 2 — OG | One historical HIP-3 trade | 50% | ~25% |
| Tier 3 — Preferred | $10M rolling 30-day volume | 75% | ~37.5% |
| Tier 4 — Partner | $50M rolling 30-day volume | 100% | ~50% |
Source: Entropy's referral documentation, checked 26 August 2026. Entropy labels these an early-bird period, so the rates can change.
Most readers qualify for double the entry rate
Tier 2, which Entropy calls OG, pays a published 50% instead of 25%, and the only qualification listed is one historical HIP-3 trade.
If you have ever traded a builder-deployed market on Hyperliquid, including anything from trade.xyz, Paragon, HyENA or Kinetiq, the onboarding flow imports that history and can upgrade your tier automatically. It is in Entropy's documentation and nowhere in the product, so most people never learn it.
What the rebate covers, and what it does not
- ✓Applied automatically once a referrer is attached. There is no code to type at trade time.
- ✓Works whichever frontend you trade on. Entropy states there is no restriction, so trades placed on app.hyperliquid.xyz still count.
- ⚠Covers Entropy-deployed markets only, which today means io:ANTH and io:SNDK. The other markets on the Entropy interface are deployed by other operators and do not accrue a rebate here.
- ⚠Rebates are claimed manually and pass through a status ladder that includes a Held state controlled by Entropy off-chain.
- ⚠If a code is rejected the interface clears it silently, so confirm a referrer is attached before funding the account.
How to apply the code
Open Entropy through a referral link
Visit entropy.io/?r=concept211. The code is read from the URL and stored locally. A referral link also skips the marketing page and drops you straight into the trading terminal.
Sign in and import your HIP-3 history
Sign in with email or a wallet, pick a username, then let the onboarding flow import your Hyperliquid HIP-3 trading history. One prior HIP-3 trade on any builder market qualifies you for the OG tier, which pays double the entry rate. See the full walkthrough.
Confirm the referrer attached
Open the referrals page and check a referrer is shown as attached. If the code was rejected it is cleared silently rather than surfacing an error, so this check is worth doing before you fund the account.
Deposit and trade an Entropy market
Bridge USDC from Arbitrum One, then trade io:ANTH or io:SNDK. Rebates accrue only on Entropy-deployed markets.
What you are getting a rebate on
Entropy publishes HIP-3 rates of 0.030% maker and 0.090% taker. Both of its live markets currently run in Growth Mode, which scales fees by 0.1, so the rate traders actually pay today is closer to 0.0030% maker and 0.0090% taker. A measured all-in rate of 0.0091%, derived from reported volume against reported fees, matches that.
On fees that small, a rebate is worth less in absolute terms than the headline percentages suggest. It is worth being straight about that rather than implying the referral is the main event. The full fee breakdown shows the arithmetic and cites the source for every figure, including the flat costs that dominate at small size: a one-time $1 account activation fee and a $1 withdrawal fee with a $5 minimum.
Read before you trade
How to Trade on Entropy
Full onboarding walkthrough
Deposit USDC to Entropy
Arbitrum bridge, fees and traps
Entropy Fees Explained
What you actually pay, with sources
The Anthropic Pre-IPO Perp
How io:ANTH is priced and settled
Is Entropy Safe?
The risk model, stated plainly
Restricted Countries
Who the terms exclude
Frequently Asked Questions
It applies an automatic fee rebate, shown as cashback in the Entropy interface. The size depends on your tier. At the entry tier the published figure is 25%, but that 25% is calculated against Entropy's roughly 50% share of the HIP-3 trading fee rather than the total fee you pay, so it works out to about 12.5% of your actual fees. Entropy documents this with its own worked example: a 50% rebate on $100 of total fees returns $25, not $50.
Entropy's Tier 2, which it calls OG, pays 50% instead of 25% and the only qualification listed is one historical HIP-3 trade. If you have ever traded any builder-deployed market on Hyperliquid, including trade.xyz, Paragon, HyENA or Kinetiq markets, the onboarding flow imports that history and can upgrade your tier automatically. This is in Entropy's referral documentation but is not advertised anywhere in the product.
No. Entropy's documentation limits it to Entropy-deployed markets, which today means io:ANTH and io:SNDK only. The other markets visible on the Entropy interface are deployed by trade.xyz, Paragon, HyENA and Kinetiq, and trading those does not generate a rebate under this program.
No. Entropy states there is no restriction on which frontend you trade through, so eligible Entropy-market trades are tracked even if you place them on app.hyperliquid.xyz. The market has to be an Entropy-deployed one.
They are claimed manually from the referrals dashboard rather than paid automatically. Entropy's interface shows a status ladder of In review, Held, Approved, Claimed, Processing and Paid. The Held state is controlled by Entropy off-chain, so a rebate is not guaranteed to move through that ladder on any fixed schedule.
Entropy stores a referral code from the link and attaches it when your account syncs. If the code is rejected the interface clears it silently rather than showing an error, so it is worth checking the referrals page after signup to confirm a referrer is attached.