DEX comparison · updated Oct 15, 2026
HyperliquidvsJupiter
A pure perp powerhouse on its own L1 versus Solana's all-in-one swap aggregator that also offers perps — different jobs, often compared by new traders.
At a glance
Higher 24h volume
Hyperliquid
$8.55B
Lower taker fee
Hyperliquid
0.045%
Deeper liquidity (TVL)
Hyperliquid
$6.95B
Longer track record
Jupiter
since 2021
dexwatch score
Hyperliquid
92/100
Full comparison
Every figure is a dated snapshot from public sources (Oct 15, 2026); fields without a verifiable source show n/a. “Best” marks the stronger value in a row — higher volume or liquidity, lower fees, longer track record. Max leverage is shown as information, not a positive.
| Exchange | $HYPE ★★★★★★★★★★92/100Excellent | $JUP ★★★★★★★★★★85/100Excellent |
|---|---|---|
| Type | Perp DEX | Spot Aggregator + Perps |
| Chains | Hyperliquid L1 | Solana |
| 24h volume | $8.55BBest | $534.8M |
| 7d volume | $40.02BBest | $2.69B |
| Total value lockedLiquidity depth | $6.95BBest | $1.87B |
| Open interest | $11.03BBest | $38.7M |
| Token price | $79.92 | $0.300 |
| 24h change | 1.44% | 8.49% |
| Market cap | $17.78B | $994.0M |
| Maker feeNegative = rebate | 0.015% | 0%Best |
| Taker feeLower is cheaper | 0.045%Best | 0.07% |
| Max leverageHigher = riskier | 40× | 20× |
| Trading pairs | 178 | 1,200Best |
| LaunchedLonger track record | 2024 | 2021Best |
| Security scoredexwatch estimate | 88/100Best | 84/100 |
| Audits | Zellic (bridge) | OtterSecSec3 |
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The honest take
Hyperliquid
✓Deepest liquidity and tightest spreads of any perp DEX, by a wide margin
✓Order-book matching feels just like a centralized exchange; spot, lending and outcome markets now share the same account
✓Fee revenue is used to buy back the HYPE token; base fees drop with volume and staking
✕Runs on its own L1 — assets must be bridged in (USDC via Arbitrum)
✕Only the bridge has a published audit; the core matching engine does not. Built for active traders, not beginners
Jupiter
✓By far the most active user base in DeFi (~1.8M monthly addresses)
✓Always routes you to the best available price on Solana
✓Clean, approachable interface — a great first DeFi app
✕Solana-only — no cross-chain trading
✕Its perps product is younger than the spot swaps
Hyperliquid vs Jupiter FAQ
Which has higher trading volume, Hyperliquid or Jupiter?
Hyperliquid — about $8.55B in the last 24 hours versus $534.8M on Jupiter. Figures are a dated snapshot (Oct 15, 2026) and move constantly.
Is Hyperliquid or Jupiter cheaper to trade?
Hyperliquid lists the lower headline taker fee (0.045% versus 0.07%). Your real cost also depends on network gas, maker rebates, spreads and price impact on the size you trade.
Which has deeper liquidity, Hyperliquid or Jupiter?
Hyperliquid holds more total value locked ($6.95B versus $1.87B), a rough proxy for how much size a market can absorb.
Which offers higher leverage, Hyperliquid or Jupiter?
Hyperliquid allows up to 40×, versus 20× on Jupiter. Higher leverage multiplies losses as fast as gains — it is information, not an advantage.
What's the main difference between Hyperliquid and Jupiter?
Hyperliquid is a perp dex on Hyperliquid L1, while Jupiter is a spot aggregator + perps on Solana. Match the venue to the chain and assets you actually use.
What are perpetuals & perp DEXes?Leverage risk & liquidationFunding rates: the hidden cost of holding a perpperpetualleveragefunding rate
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