Trading Fees

Pear charges fees when you open and close a position on Hyperliquid or Lighter (retail and Agent Pear trades on your linked accounts). Fees are denominated in USDC, the margin asset of every market Pear trades on.

Open fee

0.06% (6 bps) on the total position size when you open a trade. This covers all legs. A pair (2 legs) and a basket (3+ legs) pay the same 6 bps on the total position size, once, not per leg.

Close fee

0.06% (6 bps) on the total position size when you close a trade. Again, this covers all legs, once.

A full round trip therefore costs 12 bps on the total position size. Example: a $1,000 position costs $0.60 to open and $0.60 to close.

How the fee is charged

Pear embeds the fee in the order payload it submits to the venue. There is no separate Pear transaction, no per-trade gas cost, and no subscription or API-access fee. It is collected through the venue's own fee mechanism, which you approve once when you connect your trade account: Hyperliquid's builder-fee approval, or Lighter's integrator-fee approval. Without that one-time approval, Pear cannot submit orders with its fee attached and execution does not work.

Every trade also pays the venue's own trading fee, a separate layer that Pear does not set, discount, or refund:

• Hyperliquid: it charges its own trading fees on top of Pear's. Pear is always a taker on Hyperliquid: every order style (market, trigger, TWAP, ladder) fills as a market order and Pear never rests maker orders on the book. See Hyperliquid's fee schedule for the live venue rate.
• Lighter: it does not currently charge its own per-trade trading fee, so the all-in cost on Lighter is Pear's fee alone. See Lighter's docs for its current fee model.

Because the venue layer differs, the all-in cost of the same trade can differ by venue even though Pear's own fee is the same. The Pear app shows your effective rate when you trade.

Discounts

You can reduce the 6 bps fee:

• stPEAR staking tiers: up to a 50% discount depending on your staked balance (stPEAR-based trading discounts).
• Referral discount: if you joined through a referral, you get 10% off your fees (Referrals).

Discounts are applied automatically at execution.

Pear Pro

Pear Pro (institutional) trades under its own fee tier, 2 bps per open or close under the current configuration on Hyperliquid and Lighter, separate from the retail 6 bps. On Pro CEX venues (Binance, Bybit, OKX), Pear monetizes through each venue's broker program rather than a Pear-set per-order fee; that rate is settled off-platform, not in the app.

Where the fees go

Per PIP-3 (ratified January 2026), Pear's fee revenue is applied on-chain: 70% to weekly $PEAR buybacks, permanent burns, and liquidity provision; 30% to the DAO treasury. Protocol revenue no longer flows to stakers as ETH. Staking now grants access and fee discounts instead. See PEAR and stPEAR.