Lower Fees
0.05
%
Taker Fee ·
Binance
Higher Volume
$48.16B
Taker Fee ·
Binance
More Leverage
125x
Taker Fee ·
Binance
Higher Rating
9.4
/10
Taker Fee ·
Binance
Rating
About
Hyperliquid is the largest onchain perp exchange, clearing over $300 billion a month on a custom Layer 1 using HyperBFT for one-block finality and sub-second execution. Its onchain order book processes more than 200,000 orders per second.
Founded in 2023 by former HRT engineer Jeff Yan, it offers 100 plus perp markets with up to 40x leverage, permissionless listings, and USDC-margined contracts. All trading and liquidations settle onchain through HyperCore and HyperEVM.
The network is community owned with no paid market makers or listing fees, secured by a validator set running HyperBFT. Hyperliquid releases verifiable onchain data on funding, open interest, liquidations, and vault activity.
Binance, founded in 2017 by Changpeng Zhao, offers extensive liquidity and some of the highest global trading volumes for crypto perpetuals.
Headquartered in Dubai, it serves 260M+ users across 180 countries with 350+ spot assets, futures, margin trading, staking, and passive income products.
Binance holds regulatory licenses across Europe, USA, Japan, UAE, and APAC, employs multi-factor security, and publishes verified Proof of Reserves audits.
Volume & Liquidity
Hyperliquid | Binance | ||
|---|---|---|---|
Perpetuals Volume (24H) | $4.57B | $48.16B | |
Crypto Options Volume (24H) | $0 | $591.02M | |
Open Interest (24H) | $4.41B | $18.91B |
Fees & Costs
Hyperliquid | Binance | ||
|---|---|---|---|
Taker Fees | 0.045 % | 0.05 % | |
Maker Fees | 0.015 % | 0.02 % |
Live Funding Rates
BTC Funding Rate
USDT Settlement
Hyperliquid
0.0005%
Binance
0.0067%
ETH Funding Rate
USDT Settlement
Hyperliquid
0.0002%
Binance
0.0014%
SOL/USDT
USDT Settlement
Hyperliquid
0.0013%
Binance
0.0023%
BNB/USDT
USDT Settlement
Hyperliquid
0.0011%
Binance
0.0088%
Trading Features
Hyperliquid | Binance | ||
|---|---|---|---|
Perpetual Contract Types | USDC only | USDT and USDC | |
Available Leverage | 40x | 125x | |
Spot Assets | 60 | 400 |
Regulation & Trust
Hyperliquid | Binance | ||
|---|---|---|---|
Regulation | Decentralized and Unregulated | FinCEN (USA), FINMA (Switzerland), FCA (UK), ADGM (Abu Dhabi), AMF (France), and 17 more | |
Proof of Reserves | ✓ Yes | ✓ Yes | |
Supported Countries | 195 | 160 | |
Total Users | 404,000 | 265 Million | |
Headquarters | Decentralized (HyperEVM) | Dubai, United Arab Emirates |
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