> ## Documentation index
> Fetch the complete documentation index at: https://hypertake.net/llms.txt
> Use this file to discover all available pages before exploring further.

# Payouts

> What a HIP-4 outcome share pays at settlement: $1 or $0, fractional splits, fees, and payout versus profit

Source: https://hypertake.net/docs/outcomes/payouts · Last updated: 2026-10-17

At settlement Hyperliquid converts each Yes share to the market's **settle fraction** of 1 USDC and each No share to the rest. For an ordinary yes/no market that means **$1 for a winning share and $0 for a losing one**; a few market types can settle to a fraction, such as 66¢ and 34¢.

## Payout and profit are different numbers

The **payout** is what your shares are worth at settlement: one dollar per whole winning share. The **profit** is the payout minus what you paid. Hypertake always shows both: the ticket's **Pays if Yes wins** and **Profit if Yes wins**, the phone's **To win**, and your position's **If Yes wins** with the profit beside it.

| You spend $10 on Yes at… | Shares | Pays if Yes wins | Profit if Yes wins | If Yes loses |
| --- | --- | --- | --- | --- |
| 20¢ | 50 | $50.00 | +$40.00 (+400%) | −$10.00 |
| 40¢ | 25 | $25.00 | +$15.00 (+150%) | −$10.00 |
| 70¢ | 14 (20¢ left unspent) | $14.00 | +$4.20 (+43%) | −$9.80 |

_Shares are whole numbers on Hyperliquid, so any amount too small for one more share stays in your balance. Before Hyperliquid's settlement fee._

## When a market settles to a fraction

HIP-4 settlement is a fraction between 0 and 1, not just a yes or no ([HIP-4](https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-4-outcome-markets)). Outcomes inside a question must settle to exactly 0 or 1, but standalone deployer outcomes "may settle to any fraction (e.g. "0.66" for scalar payouts)" ([deployer docs](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/hip-4-deployer-actions)). Some templates use this on purpose:

- **Scalar markets** pay in proportion to where a value lands in a range: a price halfway between the low and high pays Long 50¢ and Short 50¢.
- **The external-price template** resolves to 0.5 (50¢ each side) if no settlement price can be verified within 24 hours of the close.

**Example: A split at 66¢**
- A market settles with a settle fraction of 0.66.
- Each Yes share pays $0.66 and each No share pays $0.34.
- Ana holds 50 Yes bought at 40¢ ($20). She receives $33: a $13 profit before fees.
- Hypertake's report reads "Split: Yes 66¢" and "Yes paid $0.66 a share · No paid $0.34 a share".

Flow: 50 Yes × $0.66 = $33 to Ana's balance · 50 No (someone else's) × $0.34 = $17 · together the $50 the pairs were backed by

## Fees on a payout

| Fee | When | How much |
| --- | --- | --- |
| Hypertake | At settlement | Nothing |
| Hyperliquid | At settlement (and when you sell) | Its outcome fee rate, times the market's deployer fee scale. On most live deployer markets the scale is 1, which means users pay twice the base outcome rate: half to the deployer, half to the protocol |

_Hyperliquid's rates are on its [fees page](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees); the deployer fee scale is described in its [deployer docs](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/hip-4-deployer-actions). Hyperliquid charges nothing when you open an outcome position._

## Hold or sell?

You don't have to wait for settlement. Selling before the close locks in today's price, minus Hypertake's 1% sell fee and Hyperliquid's fee; holding pays $1 or $0 later, with no Hypertake fee.

**Example: Jon at 85¢ with an hour to go**
- Jon holds 100 Yes bought at 40¢ ($40). Buyers now pay 85¢.
- **Sell now:** 100 × 85¢ = $85, less 1% ($0.85) to Hypertake and Hyperliquid's fee: about $84 in hand, certain.
- **Hold:** $100 if Yes wins (less Hyperliquid's settlement fee), $0 if a late move flips it to No.
- Neither is right in general: selling trades the remaining 15¢ of upside for certainty.

## Where payouts appear

- **Your balance** goes up by the payout once the market settles, and the shares leave your positions.
- **The market's page** shows the result and, if you traded it, "You made" or "You lost" with the breakdown.
- **Portfolio → History** lists the settlement among your trades. See [Portfolio and activity](https://hypertake.net/docs/money/portfolio-and-activity.md).

- [Selling shares](https://hypertake.net/docs/outcomes/selling.md): Close a position before the result.
- [Fees](https://hypertake.net/docs/fees.md): Every fee, ours and Hyperliquid's.