24h Volume Rankings

Why volume matters on a builder-deployed market. Volume is the most direct read on whether a quoted spread has anything behind it, and on a HIP-3 market it is also what pays the deployer. Entropy's docs state that fees on HIP-3 markets are 2x the standard validator-operated perp rate and are split evenly between Hyperliquid and the deployer, which puts Entropy's published schedule at 0.030% maker and 0.090% taker. Both of its live markets have Growth Mode enabled, scaling fees, rebates and volume contribution by 0.1; the measured all-in rate on 2026-08-26 worked out to roughly 0.0030% maker and 0.0090% taker. Fee tiers are Hyperliquid-wide, computed on a trader's combined 14-day volume across spot, perps and HIP-3 perps, and Growth Mode discounts the volume contribution too, so notional traded on one of these markets counts for a tenth of its size toward those tiers. The arithmetic is worked through in our Entropy fee guide.