Trade.xyz Events Targets Polymarket With Lower Fees

Trade.xyz launched Events on Hyperliquid’s mainnet earlier this month, becoming the ecosystem’s third HIP-4 prediction-market project. The platform initially listed 34 markets across finance, sports and other categories, then formally promoted the product. In its first week, Events recorded about $180,000 in trading volume from 263 users. Trade.xyz plans to expand Events into politics, economics, stocks, commodities and pre-IPO assets. Initial financial contracts will draw pricing and liquidity from Trade.xyz’s HIP-3 perpetual markets rather than external oracles. This could help transfer existing market-making capabilities into prediction markets, although liquidity remains limited. Trade.xyz uses Hyperliquid’s Outcome Trading fee structure, charging a base taker fee of 0.07% and a maker fee of 0.04%. Volume discounts can reduce these rates to 0.025% and zero, while HYPE staking can provide discounts of up to 40%. Fees are charged when positions are closed or settled. At a 50% probability, a $100 taker trade costs about $0.07 on Trade.xyz, compared with roughly $1 to $1.75 on Polymarket, depending on the category. Polymarket’s fees fall as probabilities approach 0% or 100%, while makers pay no fees and may receive rebates. Some categories, including geopolitics, are fee-free. Trade.xyz remains far smaller than Polymarket in users, volume and liquidity. The launch is strategically important for Hyperliquid’s prediction-market sector but has limited immediate effect on HYPE or broader crypto prices. Its longer-term prospects depend on attracting Hyperliquid users and deep liquidity to Events.