diff --git a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.test.tsx b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.test.tsx
index eaa8e32e9211..85765781939f 100644
--- a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.test.tsx
+++ b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.test.tsx
@@ -94,7 +94,7 @@ describe('PerpsOrderTransactionView', () => {
     mockUsePerpsOrderFees.mockReturnValue({
       totalFee: 10.5,
       protocolFee: 7.5,
-      metamaskFee: 3.0,
+      metamaskFee: 3,
       protocolFeeRate: 0.1,
       metamaskFeeRate: 0.05,
       isLoadingMetamaskFee: false,
@@ -162,7 +162,7 @@ describe('PerpsOrderTransactionView', () => {
     expect(zeroFees).toHaveLength(3); // All three fees should be $0
   });
 
-  it('should handle small fees correctly', () => {
+  it('should show "< $0.01" for fees less than 0.01', () => {
     mockUsePerpsOrderFees.mockReturnValue({
       totalFee: 0.005,
       protocolFee: 0.003,
@@ -173,11 +173,135 @@ describe('PerpsOrderTransactionView', () => {
       error: null,
     });
 
-    const { getByText } = render(<PerpsOrderTransactionView />);
+    const { getAllByText } = render(<PerpsOrderTransactionView />);
+
+    // All three fees should show "< $0.01" since they're all less than 0.01
+    const smallFeeLabels = getAllByText('< $0.01');
+    expect(smallFeeLabels).toHaveLength(3);
+  });
+
+  it('should format fees normally when they are exactly 0.01', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.03,
+      protocolFee: 0.01,
+      metamaskFee: 0.01,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { getAllByText, queryByText, getByText } = render(
+      <PerpsOrderTransactionView />,
+    );
+
+    // Fees at exactly 0.01 should be formatted normally, not show "< $0.01"
+    expect(queryByText('< $0.01')).toBeNull();
+    // Both metamask and protocol fees are 0.01
+    const fee01Labels = getAllByText('$0.01');
+    expect(fee01Labels.length).toBeGreaterThanOrEqual(2);
+    expect(getByText('$0.03')).toBeTruthy(); // Total fee
+  });
+
+  it('should format fees normally when they are greater than 0.01', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.015,
+      protocolFee: 0.012,
+      metamaskFee: 0.003,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { getByText, getAllByText } = render(<PerpsOrderTransactionView />);
+
+    // Metamask fee is less than 0.01, should show "< $0.01"
+    expect(getAllByText('< $0.01')).toHaveLength(1);
+    // Protocol and total fees are >= 0.01, should be formatted normally
+    expect(getByText('$0.01')).toBeTruthy(); // Protocol fee formatted
+    expect(getByText('$0.02')).toBeTruthy(); // Total fee formatted (rounded)
+  });
+
+  it('should handle mixed small and large fees correctly', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.025,
+      protocolFee: 0.02,
+      metamaskFee: 0.005,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { getByText, getAllByText } = render(<PerpsOrderTransactionView />);
+
+    // Metamask fee is less than 0.01
+    const smallFeeLabels = getAllByText('< $0.01');
+    expect(smallFeeLabels).toHaveLength(1);
+    // Protocol and total fees are >= 0.01, should be formatted
+    expect(getByText('$0.02')).toBeTruthy(); // Protocol fee
+    expect(getByText('$0.03')).toBeTruthy(); // Total fee (rounded)
+  });
+
+  it('should handle edge case: fee just below 0.01 threshold', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.029,
+      protocolFee: 0.0099,
+      metamaskFee: 0.0099,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { getAllByText } = render(<PerpsOrderTransactionView />);
+
+    // Both metamask and protocol fees are just below 0.01
+    const smallFeeLabels = getAllByText('< $0.01');
+    expect(smallFeeLabels).toHaveLength(2);
+    // Total fee is >= 0.01, should be formatted
+  });
+
+  it('should handle edge case: fee just above 0.01 threshold', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.0201,
+      protocolFee: 0.0101,
+      metamaskFee: 0.01,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { queryByText, getAllByText, getByText } = render(
+      <PerpsOrderTransactionView />,
+    );
+
+    // All fees are >= 0.01, should be formatted normally
+    expect(queryByText('< $0.01')).toBeNull();
+    // Metamask fee and protocol fee (rounded) both show $0.01
+    const fee01Labels = getAllByText('$0.01');
+    expect(fee01Labels.length).toBeGreaterThanOrEqual(2);
+    expect(getByText('$0.02')).toBeTruthy(); // Total fee (rounded)
+  });
+
+  it('should show "< $0.01" for all fees when all are below threshold', () => {
+    mockUsePerpsOrderFees.mockReturnValue({
+      totalFee: 0.008,
+      protocolFee: 0.005,
+      metamaskFee: 0.003,
+      protocolFeeRate: 0.1,
+      metamaskFeeRate: 0.05,
+      isLoadingMetamaskFee: false,
+      error: null,
+    });
+
+    const { getAllByText } = render(<PerpsOrderTransactionView />);
 
-    expect(getByText('$0.002')).toBeTruthy();
-    expect(getByText('$0.003')).toBeTruthy();
-    expect(getByText('$0.005')).toBeTruthy();
+    // All three fees are below 0.01
+    const smallFeeLabels = getAllByText('< $0.01');
+    expect(smallFeeLabels).toHaveLength(3);
   });
 
   it('should navigate to block explorer in browser tab when button is pressed', () => {
diff --git a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.tsx b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.tsx
index c6eee742d05e..b3c69c164970 100644
--- a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.tsx
+++ b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsOrderTransactionView.tsx
@@ -11,7 +11,6 @@ import Text, {
   TextVariant,
 } from '../../../../../component-library/components/Texts/Text';
 
-import { BigNumber } from 'bignumber.js';
 import { useSelector } from 'react-redux';
 import { PerpsTransactionSelectorsIDs } from '../../../../../../e2e/selectors/Perps/Perps.selectors';
 import Button, {
@@ -28,6 +27,7 @@ import { usePerpsBlockExplorerUrl, usePerpsOrderFees } from '../../hooks';
 import { PerpsNavigationParamList } from '../../types/navigation';
 import { PerpsOrderTransactionRouteProp } from '../../types/transactionHistory';
 import {
+  formatFee,
   formatPerpsFiat,
   formatTransactionDate,
 } from '../../utils/formatUtils';
@@ -103,44 +103,21 @@ const PerpsOrderTransactionView: React.FC = () => {
   ];
 
   const isFilled = transaction.order?.text === 'Filled';
+
   // Fee breakdown
 
   const feeRows = [
     {
       label: strings('perps.transactions.order.metamask_fee'),
-      value: `${
-        isFilled
-          ? `${
-              BigNumber(metamaskFee).isLessThan(0.01)
-                ? `$${metamaskFee}`
-                : formatPerpsFiat(metamaskFee)
-            }`
-          : '$0'
-      }`,
+      value: formatFee(isFilled ? metamaskFee : 0),
     },
     {
       label: strings('perps.transactions.order.hyperliquid_fee'),
-      value: `${
-        isFilled
-          ? `${
-              BigNumber(protocolFee).isLessThan(0.01)
-                ? `$${protocolFee}`
-                : formatPerpsFiat(protocolFee)
-            }`
-          : '$0'
-      }`,
+      value: formatFee(isFilled ? protocolFee : 0),
     },
     {
       label: strings('perps.transactions.order.total_fee'),
-      value: `${
-        isFilled
-          ? `${
-              BigNumber(totalFee).isLessThan(0.01)
-                ? `$${totalFee}`
-                : formatPerpsFiat(totalFee)
-            }`
-          : '$0'
-      }`,
+      value: formatFee(isFilled ? totalFee : 0),
     },
   ];
 
diff --git a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.test.tsx b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.test.tsx
index 05e12176fee4..9776b363ee95 100644
--- a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.test.tsx
+++ b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.test.tsx
@@ -361,7 +361,7 @@ describe('PerpsPositionTransactionView', () => {
     expect(getByText('$5')).toBeOnTheScreen();
   });
 
-  it('should display fees with $ prefix directly for amounts < 0.01', () => {
+  it('should display fees with < $0.01 label for amounts < 0.01', () => {
     // Given a transaction with fee less than 0.01
     const smallFeeTransaction = {
       ...mockTransaction,
@@ -379,9 +379,9 @@ describe('PerpsPositionTransactionView', () => {
       state: mockInitialState,
     });
 
-    // Then fee should display with $ prefix directly (not formatted through formatPerpsFiat)
+    // Then fee should display with < $0.01 label (not the actual value)
     expect(getByText('Total fees')).toBeOnTheScreen();
-    expect(getByText('$0.005')).toBeOnTheScreen();
+    expect(getByText('< $0.01')).toBeOnTheScreen();
   });
 
   it('should not render points when not present', () => {
diff --git a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.tsx b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.tsx
index 42f1dd396021..6f9db04cfd6f 100644
--- a/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.tsx
+++ b/app/components/UI/Perps/Views/PerpsTransactionsView/PerpsPositionTransactionView.tsx
@@ -30,6 +30,7 @@ import {
   PerpsTransaction,
 } from '../../types/transactionHistory';
 import {
+  formatFee,
   formatPerpsFiat,
   formatTransactionDate,
   PRICE_RANGES_UNIVERSAL,
@@ -115,9 +116,7 @@ const PerpsPositionTransactionView: React.FC = () => {
     transaction.fill?.fee !== undefined &&
       transaction.fill?.fee !== null && {
         label: strings('perps.transactions.position.fees'),
-        value: BigNumber(transaction.fill.fee).isGreaterThan(0.01)
-          ? formatPerpsFiat(transaction.fill.fee)
-          : `$${transaction.fill.fee}`,
+        value: formatFee(transaction.fill.fee),
         textColor: TextColor.Default,
       },
   ].filter(Boolean);
diff --git a/app/components/UI/Perps/utils/formatUtils.test.ts b/app/components/UI/Perps/utils/formatUtils.test.ts
index 8d9eafa47de5..cf231c46565b 100644
--- a/app/components/UI/Perps/utils/formatUtils.test.ts
+++ b/app/components/UI/Perps/utils/formatUtils.test.ts
@@ -15,6 +15,7 @@ import {
   formatTransactionDate,
   formatDateSection,
   formatFundingRate,
+  formatFee,
   PRICE_RANGES_UNIVERSAL,
   PRICE_RANGES_MINIMAL_VIEW,
 } from './formatUtils';
@@ -194,6 +195,140 @@ describe('formatUtils', () => {
     });
   });
 
+  describe('formatFee', () => {
+    it('returns "$0" when fee is exactly zero', () => {
+      // Given a fee of exactly zero
+      const fee = 0;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "$0"
+      expect(result).toBe('$0');
+    });
+
+    it('returns "< $0.01" when fee is below threshold', () => {
+      // Given a fee below the 0.01 threshold
+      const fee = 0.005;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "< $0.01"
+      expect(result).toBe('< $0.01');
+    });
+
+    it('formats fee normally when exactly at 0.01 threshold', () => {
+      // Given a fee at exactly the 0.01 threshold
+      const fee = 0.01;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it formats normally
+      expect(result).toBe('$0.01');
+    });
+
+    it('formats fee normally when above threshold', () => {
+      // Given a fee above the 0.01 threshold
+      const fee = 1.5;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it formats normally
+      expect(result).toBe('$1.50');
+    });
+
+    it('returns "< $0.01" for very small positive fees', () => {
+      // Given a very small positive fee
+      const fee = 0.0001;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "< $0.01"
+      expect(result).toBe('< $0.01');
+    });
+
+    it('returns "< $0.01" for fee just below threshold', () => {
+      // Given a fee just below the 0.01 threshold
+      const fee = 0.0099;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "< $0.01"
+      expect(result).toBe('< $0.01');
+    });
+
+    it('formats fee normally when just above threshold', () => {
+      // Given a fee just above the 0.01 threshold
+      const fee = 0.0101;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it formats normally (rounded to $0.01)
+      expect(result).toBe('$0.01');
+    });
+
+    it('formats large fees with proper decimals', () => {
+      // Given a large fee value
+      const fee = 123.45;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it formats with proper decimals
+      expect(result).toBe('$123.45');
+    });
+
+    it('strips trailing zeros for whole number fees', () => {
+      // Given a whole number fee
+      const fee = 100;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then trailing zeros are stripped
+      expect(result).toBe('$100');
+    });
+
+    it('handles fees with many decimal places', () => {
+      // Given a fee with many decimal places
+      const fee = 1.23456789;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it rounds appropriately
+      expect(result).toBe('$1.23');
+    });
+
+    it('returns "$0" for negative zero', () => {
+      // Given a negative zero value
+      const fee = -0;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "$0"
+      expect(result).toBe('$0');
+    });
+
+    it('returns "< $0.01" for smallest representable positive fee', () => {
+      // Given the smallest positive fee
+      const fee = 0.00000001;
+
+      // When formatting the fee
+      const result = formatFee(fee);
+
+      // Then it returns "< $0.01"
+      expect(result).toBe('< $0.01');
+    });
+  });
+
   describe('formatPerpsFiat', () => {
     it('should format balance with default 2 decimal places (fiat-style stripping)', () => {
       expect(formatPerpsFiat(1234.56)).toBe('$1,234.56'); // Has meaningful decimals: preserved
diff --git a/app/components/UI/Perps/utils/formatUtils.ts b/app/components/UI/Perps/utils/formatUtils.ts
index 3470a1fab1bb..8a965b150abc 100644
--- a/app/components/UI/Perps/utils/formatUtils.ts
+++ b/app/components/UI/Perps/utils/formatUtils.ts
@@ -1,6 +1,7 @@
 /**
  * Shared formatting utilities for Perps components
  */
+import { BigNumber } from 'bignumber.js';
 import { formatWithThreshold } from '../../../../util/assets';
 import {
   FUNDING_RATE_CONFIG,
@@ -341,6 +342,26 @@ export const formatPerpsFiat = (
   return formatted;
 };
 
+/**
+ * Formats a fee value as USD currency with appropriate decimal places
+ * @param fee - Raw numeric or string fee value (e.g., 1234.56, not token minimal denomination)
+ * @returns Formatted currency string with variable decimals based on configured ranges
+ * @example formatFee(1234.56) => "$1,234.56"
+ * @example formatFee(0.005) => "< $0.01"
+ * @example formatFee(0) => "$0"
+ */
+export const formatFee = (fee: number | string): string => {
+  const smallFeeThreshold = 0.01;
+
+  if (BigNumber(fee).isEqualTo(0)) {
+    return '$0';
+  }
+  if (BigNumber(fee).isLessThan(smallFeeThreshold)) {
+    return '< $0.01';
+  }
+  return formatPerpsFiat(fee);
+};
+
 /**
  * Default price range configurations
  * Applied in order - first matching condition wins