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Hyperliquid
Hyperliquid
Credits3
Hyperliquid

Hyperliquid

Partner DEX

Fully on-chain L1 with perpetual & spot order books, 200k orders/sec, one-block finality, no gas on trades.

DiscordX
Credits
Credits3
CB
CB7%
Pairs231
Vol 24h$2.8B
OI$7.2B
Fees—
Max Leverage
40x
MarginPortfolio Margin
FeesMaker/Taker
0.000%
0.045%
Liquidation0.1000%
FundingHourly
Deposit Networks
Hyperliquid L1
Hyperliquid L1
Accepted Collateral
No collateral data
Protocol Info
Launch Date

Nov 7, 2023

Raised

$0.0

Open Source

Partially

Last Audit

Nov 27, 2023

Supported Wallets
MetaMask
MetaMask
OKX Wallet
OKX Wallet
Rabby
Rabby
WalletConnect
Supported Languages
English
Restricted Regions
No Restrictions
Features

Trading Mechanics

Markets Offered
CryptoMeme CoinsIndexes
Account Type
Wallet-Based
Hedge Mode
Yes
Sub-Accounts
Yes
Native Collaterals
No
Settlement Type
On-Chain
Trading Model
On-Chain CLOB
Liquidity Source
Protocol Vaults,user Lps,market Makers
Protocol Version
Hypercore / Hyperevm
Protocol Types
Appchain DEXDEXLiquidity Network

Product & Trading

Services Offered
Perpetual FuturesSpot TradingVaultsLiquidity Provision
Order Types
Limit OrdersMarket OrdersPost-OnlyStop OrdersTp-SlMarket OrderLimit OrderStop LossTake ProfitTwapScale OrdersReduce OnlyPost OnlyIocOco
Trading Tools
API TradingAccount TrackingBridgeLeaderboardsSdkLeaderboardSubaccountsVaults
Notifications
EmailIn-App Alerts
Education
DocsTutorials

UX & Safety

Interface Types
Web App
Mobile Experience
Mobile OptimizedBrowser App
UX Features
1ct TradingAPI TradingAnalytics DashTradingviewCustomizable UiInteractive ChartsAdvanced Order Types
Safety Features
InsuranceMultisig

Infrastructure

Price Oracles
Proprietary OracleCex Apis
Oracle Details
Validator-computed weighted median: Binance(3x), OKX(2x), Bybit(2x), Kraken(1x), Kucoin(1x), Gate.io(1x), MEXC(1x), HL spot(1x). Updates every ~3 seconds. Mark price = weighted median of oracle, HL mid, and external perp mids.
Account Features
SubaccountsYield On DepositsCross-Asset CollateralYield On Collateral
Gas Optimization
The L1 Uses A Custom Consensus And State Management System That Eliminates User-Facing Gas Costs For Trading Activities.

Rewards & Yield

Rewards Programs
Airdrop ProgramReferralsTrading RewardsLiquidity MiningLoyalty ProgramCompetitions
Yield on Deposits
-
Staking Yield Source
Yield For Hype Stakers Is Generated From 100% Of The Trading Fees Collected By The L1 Matching And Settlement Engine.
Points Program
Trading activity (perps and spot volume). Leagues: Wood→Bronze→Silver→Gold→Platinum→Diamond by rank. Points visible on /points page.
Value Distribution
Protocol value accrues to HYPE token through governance treasury growth and protocol-wide buyback-and-staking rewards.
Token Utility
HYPE is the native utility token for gas on the L1 governance voting and staking to earn protocol-wide yield.

Fee Details

Fee Discounts
Referral,token Staking,volume Tiers
Zero Fee Trading
No
Variable Pair Fees
Yes
Gas Fee Model
Fully Sponsored Gasless
Funding Interval
Hourly
Funding Mechanism
Dynamic
Position Fee Types
Funding Rate
Fee Tier Details
Perps: T1 -0/3.5bps; T2 0.5/3; T3 -0.5/2.5; T4 -1/2; T5 -1.5/1.5; T6 -2/1 (maker/taker). Staking discounts: Diamond 40%, Platinum 30%, Gold 20%, Silver 15%, Bronze 10%, Wood 5%.
Additional Notes
A dynamic 'ADL' (Auto-Deleveraging) and insurance fund take small portions from liquidations to maintain solvency.
Fees
Fee Model
Maker/Taker
Fee Discounts
Referral,token Staking,volume Tiers
Zero Fee Trading
No
Variable Pair Fees
Yes
Weighted Vol Days
14
Withdrawal Fee
$0
Withdrawal Delay
1-10 Min
Funding Interval
Hourly
Funding Mechanism
Dynamic

Stake & Volume-Based Fee Tiers

Tier14d VolumeStaked HYPEMaker FeeTaker FeeDiscount
1<$5m10+0.0400%0.0700%5%
2>$5m100+0.0300%0.0600%10%
3>$25m1,000+0.0200%0.0500%15%
4>$100m10,000+0.0100%0.0400%20%
5>$500m100,000+0.0000%0.0350%30%
6>$2b500,000+0.0000%0.0300%40%
7>$7b-0.0000%0.0250%-
Articles

Articles

100
Polymarket is launching Perps But can they actually catch Hyperliquid? Let’s look at the numbers 👇 Market size > Perps: $15T > Prediction markets: $63.5B (2025) Perps are 236x larger Revenue (30d) > Hyperliquid: $55M > Polymarket: $23M Valuation > Hyperliquid: $40B FDV > Polymarket: $15B pre-market Users > 14% of Polymarket’s top traders already use Hyperliquid > Driving $1.43B in volume Product difference > Polymarket = adding perps > Hyperliquid = merging perps + prediction markets (HIP-4) (One account with One margin) Hyperliquid already did $492B in Q1 perp volume Polymarket is just introducing 688K monthly users to what Hyperliquid already perfected What do you think? Could Polymarket perps be big?
Hyperliquid
PublishedApr 25
Polymarket is launching Perps But can they actually catch Hyperliquid? Let’s look at the numbers 👇 Market size > Perps: $15T > Prediction markets: $63.5B (2025) Perps are 236x larger Revenue (30d) > Hyperliquid: $55M > Polymarket: $23M Valuation > Hyperliquid: $40B FDV > Polymarket: $15B pre-market Users > 14% of Polymarket’s top traders already use Hyperliquid > Driving $1.43B in volume Product difference > Polymarket = adding perps > Hyperliquid = merging perps + prediction markets (HIP-4) (One account with One margin) Hyperliquid already did $492B in Q1 perp volume Polymarket is just introducing 688K monthly users to what Hyperliquid already perfected What do you think? Could Polymarket perps be big?
Polymarket is launching Perps
jussy
Tokyo pinging Hyperliquid in 3 ms. Amsterdam at 221 ms. That's simple physics. Light travels through fiber at roughly 200 km/ms. Hyperliquid's validators are in Tokyo, so the closer you are to Tokyo, the faster your orders land. 3 ms from Tokyo vs 221 ms from Amsterdam means a Tokyo MM sees price moves and reacts ~70x faster than someone in Europe. In a market where stale quotes get picked off in milliseconds, that gap is the difference between profit and getting eaten alive. This is literally the same problem TradFi solved with colocation, firms pay millions to put their servers physically next to the exchange matching engine. Same game, different chain. @HyperliquidX introduced priority fees, currently on testnet. MMs can pay HYPE for execution priority instead of building out infra next to Tokyo. Priority fees start making a lot more sense when you look at it this way. Can't colocate next to Tokyo? Pay for priority instead. Geography shouldn't decide who's the best market maker; strategy should.
Hyperliquid
PublishedApr 17
Tokyo pinging Hyperliquid in 3 ms. Amsterdam at 221 ms. That's simple physics. Light travels through fiber at roughly 200 km/ms. Hyperliquid's validators are in Tokyo, so the closer you are to Tokyo, the faster your orders land. 3 ms from Tokyo vs 221 ms from Amsterdam means a Tokyo MM sees price moves and reacts ~70x faster than someone in Europe. In a market where stale quotes get picked off in milliseconds, that gap is the difference between profit and getting eaten alive. This is literally the same problem TradFi solved with colocation, firms pay millions to put their servers physically next to the exchange matching engine. Same game, different chain. @HyperliquidX introduced priority fees, currently on testnet. MMs can pay HYPE for execution priority instead of building out infra next to Tokyo. Priority fees start making a lot more sense when you look at it this way. Can't colocate next to Tokyo? Pay for priority instead. Geography shouldn't decide who's the best market maker; strategy should.
Tokyo pinging Hyperliquid in 3 ms.
Stacy Muur
Campaigns

DEX Campaigns

No active campaigns

DexPal Incentives

DexPal Credits

Earn credits from trading, quests, referrals, and ranking in the leaderboards.

RewardsDexPal Points
Start DateinfoLIVE
DEX Points Bonus

DexPal redistributes 90% of the referral points it earns from each DEX back to users.

RewardsPoints
Start DateinfoLIVE
DEX Competitions

DEX Specific leaderboard competition ranked by DexPal credits earned from trading.

Prize Pool$5,000 - $25,000
Start Date03/30/2026
The DegenBoard

A cross-DEX leaderboard competition ranked by credits earned from trading on any partner DEX.

Prize Pool$37,500
Start Date03/30/2026
Charts