Coinbase Futures
Hyperliquid
vs
Coinbase Futures
Coinbase Futures

Compare Hyperliquid vs. Coinbase Futures perpetuals: funding rates, fees, open interest, trading volume, liquidity, liquidation data and regulatory compliance updated in real-time.

Data updates automatically every 2 minutes.
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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.

Coinbase, founded in 2012 by Brian Armstrong and Fred Ehrsam, offers regulated crypto futures through Coinbase Financial Markets (CFM) for US traders, approved by the CFTC.

Internationally, Coinbase provides perpetual futures via Coinbase Advanced, with 90+ markets, up to 20x leverage, and USDC settlement.

Licensed globally (US, UK FCA, Germany BaFin), Coinbase secures funds through audited reserves, NASDAQ-listed transparency, and cold storage custody.

Rating

6.5

/10

Rating Methodology

Read Review
  • Regulatory Compliance

    1

  • Features & Supported Assets

    7

  • Trading Fees

    10

  • Depth & Liquidity

    8

6.75

/10

Rating Methodology

Read Review
  • Regulatory Compliance

    10

  • Features & Supported Assets

    7

  • Trading Fees

    3

  • Depth & Liquidity

    7

Spot Assets

60

285

Perpetual Contracts

USDC only

USDC only

Spot Volume (24H)

N/A

N/A

Perpetuals Volume (24H)

$7.60B

$7.78B

Crypto Options Volume (24H)

$0

$0

Open Interest (24H)

$7.41B

$385.77M

Live Funding Rates
BTC Funding Rate
ETH Funding Rate
BNB Funding Rate
SOL Funding Rate

undefined%

0.0013%

undefined%

0.0019%

undefined%

0.0013%

undefined%

0.0013%

undefined%

0.0010

USDC

undefined%

-0.0002

USDC

undefined%

-0.0005

USDC

undefined%

-0.0003

USDC
Taker Fees

0.045

%

0.6

%

Maker Fees

0.015

%

0.4

%

Perpetual Contract Types

USDC only

USDC only

Available Leverage

40x

20x

Regulation

Decentralized and Unregulated

Tier-1 Regulators including FCA (UK), BaFin (Germany), BitLicense (New York), MAS (Singapore), AUSTRAC (Australia), and VASP (Multiple EU countries)

Proof of Reserves

Yes

No

Yes

No

Supported Countries

195

100

Total Users

404,000

120 Million

Headquarters

Decentralized (HyperEVM)

San Francisco, United States

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