ApeX Protocol vs MetaMask Comparison
| 0.02% maker / 0.05% taker | Fees | 0.114% maker / 0.143% taker (base tier, incl. MetaMask fee) |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, calculated from the disclosed trading fee. A price markup in the spread is not included, because most providers do not publish it.
| 0.02% maker / 0.05% taker | Fees | 0.114% maker / 0.143% taker (base tier, incl. MetaMask fee) |
Not enough reviews available.
MetaMask Perps routes every order to Hyperliquid. The rates MetaMask lists in its help centre include Hyperliquid's fee and MetaMask's markup, and they apply when you open and when you close a position.
| Transaction | Cost at MetaMask Perps |
|---|---|
| Taker order, e.g. a market order | 0.1432% |
| Maker order, e.g. a limit order that does not fill immediately | 0.1144% |
| Breakdown, calculated | Hyperliquid entry tier after a 4% referral discount (0.0432% taker, 0.0144% maker) plus 0.1% MetaMask |
| Deposit, from USD 10 | no MetaMask fee; network and bridge fees depend on the chain |
| Withdrawal as USDC on Arbitrum | flat USD 1, charged by Hyperliquid |
| Example: open and close USD 1,000 with a market order | USD 2.86, directly on Hyperliquid at tier 0: USD 0.90 |
How to save: Limit orders cost 0.1144% instead of 0.1432%. If you trade larger amounts regularly, trading directly on Hyperliquid costs just under a third at the entry tier; all tiers are in our Hyperliquid review. We compare other decentralised derivatives exchanges in our perp DEX comparison.
As of 22 October 2026 according to the MetaMask help centre, How to trade perps.
Pros & Cons
- 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
- Considerably lower volume than the market leaders
- Thinner order books in secondary markets
- No EU authorisation
- Support runs through community channels
- Perpetual trading without leaving the MetaMask wallet
- Execution through the Hyperliquid order book
- Fee openly disclosed, no hidden spread
- One-click funding from various EVM chains
- Self-custody, no KYC
- 0.1% builder fee on top of the executing order book's own fee
- Trading directly on Hyperliquid is noticeably cheaper
- No EU authorisation
- Blocked in several countries including the US and the UK
Score Comparison
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
- Out of beta since April 2026
- One-click funding from any EVM chain
- Transparently disclosed additional fee
- Leverage up to 40x on Bitcoin
The five areas head to head
AI AnalysisFees & Costs
Perpetuals carry roughly 0.019% maker and 0.0475% taker fees, spot trading around 0.0425%. Users bear no gas costs. Referral programmes and rebates can lower effective costs further. As of August 2026.
MetaMask lists 0.1432% taker and 0.1144% maker per order for perps, charged when a position is opened and when it is closed. That rate contains Hyperliquid's fee and a 0.1% markup. MetaMask charges nothing on deposits, and Hyperliquid takes a flat USD 1 on withdrawals. Directly on Hyperliquid's order book the same order costs 0.045% taker and 0.015% maker at the entry tier. As of 22 October 2026.
Usability & User Experience
The interface follows centralised exchange conventions and is immediately legible to users with futures experience. Access runs through a wallet connection without conventional registration. As of August 2026.
The main advantage is skipping account opening and bridge transfers: existing MetaMask users can start without registration. The perpetuals interface is deliberately leaner than a full futures terminal, which eases entry but limits advanced functionality. As of October 2026.
Features & Offering
The offering covers roughly 90 crypto perpetuals with up to 100x leverage on BTC and ETH and around 50x on most other pairs. Beyond that, perpetuals on equities and commodities and prediction markets are available — a breadth that is unusual in the segment. As of August 2026.
Trading runs from the MetaMask interface and is executed through Hyperliquid. Positions can be funded in one click from various EVM chains. Alongside market, limit, stop-loss and take-profit orders, partial position closes are possible, and leverage reaches 40x on Bitcoin. All orders use isolated margin. As of October 2026.
Details
| ApeX Protocol | Company | Consensys (provider: Hyperliquid) |
| Not disclosed | Headquarters | United States |
Verdict
In our overall rating MetaMask leads with 4.7 against 3.7 for ApeX Protocol.
For most investors MetaMask is therefore the better choice.
ApeX — now operating as ApeX Omni — has run perpetual markets since 2022 and is backed by investors including Dragonfly Capital, Jump Crypto and Bybit-affiliated Mirana. No security incident involving loss of user funds is known, which counts for something in a segment with a short half-life.
Fees run around 0.019% for makers and 0.0475% for takers, and users bear no gas costs. The offering reaches beyond crypto: alongside roughly 90 crypto perpetuals at up to 100x leverage on BTC and ETH — around 50x on most secondary pairs — there are perpetuals on equities and commodities as well as prediction markets.
On scale ApeX sits clearly behind the volume leaders, which shows as thinner books in secondary markets. It is most interesting for users who want crypto and non-crypto perpetuals from a single interface. The platform holds no EU authorisation; perpetuals sit outside MiCA in any case, and tax reporting rests entirely with the user.
MetaMask brought perpetual trading into its own wallet and took it out of beta in April 2026. Execution is not handled by MetaMask but by Hyperliquid in the background, so users trade on the largest perpetual order book without leaving the wallet and without a separate account.
Convenience carries a clearly stated price: MetaMask charges an openly disclosed builder fee of 0.1% on top of Hyperliquid's own fee, which starts at 0.015% maker and 0.045% taker. Trading directly on Hyperliquid is therefore markedly cheaper; what you give up is one-click access from inside the wallet.
Access is blocked in the US, the UK, Ontario and Belgium. The platform holds no EU authorisation; perpetuals sit outside MiCA in any case, and tax reporting rests entirely with the user. The route makes sense for users already working inside MetaMask who value convenience over the last few basis points.