ApeX Protocol vs Hyperliquid Comparison
| 0.02% maker / 0.05% taker | Fees | 0.015% maker / 0.045% taker |
ApeX Protocol
vs
HyperliquidWinner
Pros & Cons
Pros
- No gas costs for users
- Perpetuals on equities, commodities and prediction markets too
- Around 90 crypto perpetuals, up to 100x leverage on BTC and ETH
- Operating since 2022 with no known loss of user funds
- Well-known backers
Cons
- Considerably lower volume than the market leaders
- Thinner order books in secondary markets
- No EU authorisation
- Support runs through community channels
Pros
- Order book held fully on-chain on a purpose-built layer 1
- CEX-level fees from 0.015% maker / 0.045% taker
- No network fees on trades
- 170+ perpetual markets with order types including TWAP
- Self-custody, no mandatory KYC
Cons
- No EU authorisation and no regulated counterparty
- Support runs through community channels only
- Leverage is capped tightly on smaller markets — headline figures apply to major markets only
- Tax reporting rests entirely with the user
Score Comparison
4.4Usability4.8
4.1Features4.8
4.3Fees4.7
4.2Stability4.6
3.5Support3.8
Features
- No gas costs
- Crypto, equity and commodity perpetuals in one interface
- Operating since 2022 without a known security incident
- Up to 100x leverage on the main markets
- Largest perpetual DEX by trading volume
- Purpose-built layer 1 rather than a rollup dependency
- Fee discount through HYPE staking
- TWAP orders available to retail users
Details
ApeX ProtocolHyperliquid
| ApeX Protocol (by Bybit) | Company | Hyperliquid Labs |
| Singapore | Headquarters | United States |