Fomo Perps and Code DEAL
With code DEAL, 12.5% of the fee Fomo charges on your perps trades comes back to you in USDC. Fomo charges 0.05% when you open a position and again when you close it; Hyperliquid's own fee and funding come on top and aren't part of the cashback.
What a perps trade costs on Fomo
| Cost | How much | Counted for DEAL cashback? |
|---|---|---|
| Fomo fee | 0.05% when you open, 0.05% when you close | Yes, 12.5% back |
| Hyperliquid fee | A percentage of the full leveraged position | No |
| Funding | Hourly payments while a position is open | No |
| Moving money to and from perps | Free and instant | - |
The exact fee shows on the order screen before you confirm. Fomo's page doesn't say whether its 0.05% is taken on your margin or on the full position, so check the order screen. For every $100 of Fomo perps fees you pay, $12.50 comes back with DEAL (Fomo: perps trading fees).
Leverage limits and minimums
| Market | Maximum leverage |
|---|---|
| BTC | 40x |
| ETH | 25x |
| SOL | 20x |
| Most other coins | 10x |
- Minimum position: 15 USDC of position size.
- Moving money into your perps balance: at least 5 USDC. Out: at least 2 USDC.
- Leverage is chosen in whole numbers (1x, 2x, 3x and so on).
The risk in one example
At 10x, 100 USDC controls a 1,000 USDC position. A 5% move against you loses 50 USDC, half of what you put up; at 40x a move of about 2.5% can wipe out the whole amount (Fomo: leverage on perps).
Who can trade perps
Perps aren't available to U.S. Persons: U.S. citizens and residents, including those abroad, and anyone located in the U.S. Fomo says not to use a VPN or similar tools to get around this (who can use perps).
Questions
Does code DEAL work for Fomo perps?
The DEAL cashback counts the 0.05% Fomo charges on perps trades, at open and at close. Fomo doesn't say whether the 10% referral discount applies to perps.
What does Fomo charge on perps?
0.05% per trade when you open and again when you close, plus Hyperliquid's fee on the full leveraged position and hourly funding while the position is open.
Can people in the US trade Fomo perps?
No. Perps aren't available to U.S. Persons: citizens, residents or anyone located in the U.S.