Hyperliquid
Perp DEX$43.803.20% 24h
Visit Hyperliquid ↗
Top volumeMost open interest
On-chain perps with a CEX-grade order book on its own purpose-built L1.
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For beginners
The market leader — fast and cheap, but aimed at serious traders. Start small.
Key metrics
24h volume
$7.20B
7d volume
$40.70B
Total value locked
$4.40B
Open interest
$5.60B
Active addr · 30d
314K
Market share
28.2%
Market cap
$14.60B
Maker / taker fee
−0.02% / 0.035%
Max leverage
50×
Trading pairs
210
The honest take
Pros
✓Deepest liquidity and tightest spreads of any perp DEX
✓Order-book matching feels just like a centralized exchange
✓Fee revenue is used to buy back the HYPE token
Cons
✕Runs on its own L1 — assets must be bridged in
✕Built for active traders; the depth of tools can overwhelm beginners
Made your choice?
Start trading on Hyperliquid
Non-custodial — connect your wallet and you stay in control of your funds. Leverage is high-risk; only trade what you can afford to lose.
Hyperliquid L1Perp DEX
Open Hyperliquid ↗
Visit app.hyperliquid.xyz
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Frequently asked about Hyperliquid
Is Hyperliquid safe to use?
Hyperliquid has a dexwatch security score of 88/100 (Excellent). It has been audited by Zellic, Internal, and because it is non-custodial you keep control of your funds in your own wallet.
What are the trading fees on Hyperliquid?
Hyperliquid charges a maker fee of −0.02% and a taker fee of 0.035%. Makers are rebated for adding liquidity, which means you can be paid to provide orders to the book.
What is the maximum leverage on Hyperliquid?
Hyperliquid offers up to 50× leverage on supported markets. High leverage is extremely risky and can liquidate a position quickly — only trade what you can afford to lose.
Which blockchains does Hyperliquid support?
Hyperliquid operates on Hyperliquid L1.
Is Hyperliquid good for beginners?
The market leader — fast and cheap, but aimed at serious traders. Start small.
Compare with similar venues
See full ranking →Learn before you trade
Open the Academy →Approximate snapshot from public trackers — figures move constantly and are for reference only, not financial advice. Updated May 30, 2026.