Compare Hyperliquid vs. Kraken perpetuals: funding rates, fees, open interest, trading volume, liquidity, liquidation data and regulatory compliance updated in real-time.
Go to site | Go to site | |
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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. | Kraken, founded in 2011 by Jesse Powell, is a top choice for US-based perpetuals traders, offering unmatched regulatory compliance. Headquartered in San Francisco, Kraken serves 10M+ users globally, providing spot, margin (up to 5x), futures trading, staking, and institutional-grade services. Licensed by major regulators including the US MSB and UK's FCA, Kraken secures funds through audited Proof of Reserves, SOC 2 certification, and ISO 27001 standards. |
Rating | ||
Spot Assets | 60 | 369 |
Perpetual Contracts | USDC only | USDC and USDT |
Spot Volume (24H) | N/A | N/A |
Perpetuals Volume (24H) | $7.32B | $1.12B |
Crypto Options Volume (24H) | $0 | $0 |
Open Interest (24H) | $7.37B | $425.25M |
Live Funding Rates ![]() BTC Funding Rate ![]() ETH Funding Rate ![]() BNB Funding Rate ![]() SOL Funding Rate | undefined% 0.0013% undefined% 0.0013% undefined% 0.0013% undefined% 0.0013% | 0.0001% undefined USDC 0.0004% undefined USDC 0.0005% undefined USDC -0.0006% undefined USDC |
Taker Fees | 0.045 % | 0.05 % |
Maker Fees | 0.015 % | 0.02 % |
Perpetual Contract Types | USDC only | USDC and USDT |
Available Leverage | 40x | 50x |
Regulation | Decentralized and Unregulated | Tier-1 Regulators including FCA (UK), BaFin (Germany), CySEC (Cyprus), DASP (France), MSB (USA & Canada), AUSTRAC (Australia), and 8 more |
Proof of Reserves | Yes No | Yes No |
Supported Countries | 195 | 150+ |
Total Users | 404,000 | 15 Million |
Headquarters | Decentralized (HyperEVM) | United Arab Emirates |
Visit Exchange | Go to site | Go to site |