Fees and risks
Trading automation has venue fees, product fees if enabled, spread costs, execution risk, and market risk. Users should understand all of them before running a bot.
Two fees apply to grid fills:
- Hyperliquid trading fee — charged by the venue on every fill, at your wallet’s current fee tier.
- Anello builder fee — 0.02% (2 bps) on spot sell fills only; buy fills carry no Anello fee. Hyperliquid applies builder codes to fees collected in the quote asset, which on spot means the sell side. Averaged over a full buy–sell grid cycle this works out to 0.01% per fill.
Fees can reduce or eliminate strategy profit. Grid spacing needs to be wide enough that expected movement can cover fees and slippage.
Market and liquidation risk
Section titled “Market and liquidation risk”Grid trading can lose money. Perp positions can be liquidated. A bot can also keep following rules after market conditions have changed.
Operational risk
Section titled “Operational risk”Automation depends on APIs, wallets, infrastructure, and correct configuration. Users should start with small sizes and monitor the first runs closely.