Kraken
Hyperliquid
vs
Kraken
Kraken

Compare Hyperliquid vs. Kraken 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.

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

6.5

/10

Rating Methodology

Read Review
  • Regulatory Compliance

    1

  • Features & Supported Assets

    7

  • Trading Fees

    10

  • Depth & Liquidity

    8

8.2

/10

Rating Methodology

Read Review
  • Regulatory Compliance

    9

  • Features & Supported Assets

    8

  • Trading Fees

    8.5

  • Depth & Liquidity

    7

Spot Assets

60

369

Perpetual Contracts

USDC only

USDC and USDT

Spot Volume (24H)

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Perpetuals Volume (24H)

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Crypto Options Volume (24H)

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Open Interest (24H)

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

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USDC

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USDC

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USDC

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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

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