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![stevenyuntcap Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::780884633252683780.png) steven.hl [@stevenyuntcap](/creator/twitter/stevenyuntcap) on x 18.1K followers
Created: 2025-07-15 21:09:30 UTC

Every dollar of volume originating from a Phantom Perps user is a market order with no staking tier fee discount. These types of orders are highest paying fee orders, thus contribute to the AF the most (on a per $ basis).

Eventually, $5m fee days will be the normal.

Hyperliquid

![](https://pbs.twimg.com/media/Gv7WVN3WwAA9YUg.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945229257795379426/c:line.svg)

**Related Topics**
[5m](/topic/5m)
[hyperliquid](/topic/hyperliquid)
[$5m](/topic/$5m)
[discount](/topic/discount)
[staking](/topic/staking)
[money](/topic/money)

[Post Link](https://x.com/stevenyuntcap/status/1945229257795379426)