# fomo Perps: How They Actually Work (Hint: fomo Doesn't Run Them)

> fomo's perpetual futures are Hyperliquid trades routed through a builder code, not fomo's own exchange. What that means for your fees, your funds, and who's actually on the other side of your trade.

*Source: https://fomoappguide.com/guides/trading/fomo-perps-hyperliquid*

If you open fomo's perpetual futures tab expecting fomo to be the exchange on the other side of your trade, it isn't. Here's what's actually happening when you place a perps order on fomo, and why it matters for what you're paying.

> **Key takeaway:** fomo's perps are Hyperliquid trades, placed through a mechanism called a builder code. fomo adds roughly 0.05% on top of Hyperliquid's own fee — about double the cost of trading Hyperliquid directly. The tradeoff is convenience: Hyperliquid currently has no proper native mobile app, and fomo does.

## What's actually happening when you trade perps on fomo

 fomo's own terms of service are direct about this:

> "Perps accessible through the Services are offered, operated, matched, and settled entirely by independent, third-party decentralized protocols."

In practice, that third party is primarily **Hyperliquid**, one of the largest decentralized perpetual futures exchanges. fomo isn't the counterparty to your trade, doesn't custody your position, and doesn't set the core mechanics of how the market works — Hyperliquid does all of that. fomo is a front-end: the app you're tapping in, wired up to Hyperliquid's actual exchange underneath.

![fomo's spot trading interface, showing the buy panel and fee display](/images/trading/perps/fomo-perps-order-screen.webp)

*Source: fomo -- official product image. fomo hasn't published a screenshot of its perps order screen specifically; this shows the same buy-panel-and-fee layout its spot trading uses.*

## How fomo still gets paid: builder codes

Hyperliquid has an official mechanism called a **builder code** that lets other apps add their own small fee on top of a trade placed through their interface — the reward for building the front-end you're actually using, and for handling everything Hyperliquid itself doesn't (the mobile app, the social feed, the Apple Pay funding). You approve the fee once, and Hyperliquid's own systems still settle and secure the trade itself.

Per fomo's [help center](https://help.fomo.family/en/articles/15453645-perps-trading-fees), the fee structure is:

| Component | Fee |
|---|---|
| fomo's builder fee | 0.05%, charged on both opening and closing a position |
| Hyperliquid's own fee | ~0.045% for a typical taker order |
| **All-in cost per side** | **~0.095%** |

That's roughly **double** what you'd pay placing the identical trade directly on Hyperliquid.

> **Note:** 0.05% is the standard builder fee across mobile apps that route to Hyperliquid this way -- Phantom charges the exact same rate. Some apps charge more ( MetaMask charges the maximum allowed, 0.1%) and some charge less ( Axiom charges 0.01%). fomo sits in the middle of the pack, not at the expensive end.

## Why you'd use fomo instead of just going to Hyperliquid

The honest answer is convenience, not price. Hyperliquid currently has no full native mobile trading app — its official Android release is an early, notifications-only version, and there's no official iOS app at all. Trading Hyperliquid directly from a phone means using its mobile website. fomo bundles Hyperliquid's order book into a proper native app, alongside the social feed, Apple Pay funding, and spot trading — for a real fee premium.

Whether that trade-off is worth it depends on how you actually trade. If you're placing large, infrequent perps positions, the 0.05% builder fee adds up and going direct to Hyperliquid (accepting the rougher mobile experience) saves real money. If you're trading smaller amounts and value having spot and perps and the feed in one app, the premium is arguably what you're paying for.

## What perps are not available for

> **Warning:** fomo's terms of service state plainly that "Perps functionality is not available to U.S. Persons... and may be restricted in additional jurisdictions at our sole discretion." This isn't a fomo-specific restriction — Hyperliquid itself restricts US access — but it means US-based traders will only see fomo's spot trading, not perps.

**Understand the fee before you trade** — See exactly what a fomo perps trade costs, worked out against Hyperliquid's own rate. [Get the fomo app](https://fomo.family/r/Concept211)

## Related reading

- [fomo Fees Explained](/guides/fees) — the full fee schedule, spot and perps
- [What Is fomo?](/ecosystem/what-is-fomo) — the full picture of the app
- Our sister site [HyperliquidGuide](https://hyperliquidguide.com) — for trading Hyperliquid directly