Extended vs Hyperliquid Comparison
In our overall rating Hyperliquid leads with 4.8 out of 5 points, ahead of Extended with 4.4. Our table lists the trading fee as “0% maker / 0.025% taker” for Extended and “0.015% maker / 0.045% taker” for Hyperliquid. If you care most about usability, features, and stability, Hyperliquid has the better sub-scores, and the two are level in the other areas.
| 0% maker / 0.025% taker | Fees | 0.015% maker / 0.045% taker |
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 A price markup in the spread is not included, because most providers do not publish it.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% maker / 0.025% taker | Fees | 0.015% maker / 0.045% taker |
Not enough reviews available.
Hyperliquid sets the trading fee by your weighted volume over the last 14 days, with spot volume counting double. Perpetuals and spot have separate tiers, and fees are assessed daily at the end of the day (UTC).
| Transaction | Cost at Hyperliquid |
|---|---|
| Perpetuals, entry tier 0 | 0.015% maker, 0.045% taker |
| Perpetuals, tier 1 above USD 5 million | 0.012% maker, 0.040% taker |
| Perpetuals, tier 4 above USD 500 million | 0% maker, 0.028% taker |
| Perpetuals, tier 6 above USD 7 billion | 0% maker, 0.024% taker |
| Spot, entry tier 0 | 0.040% maker, 0.070% taker |
| Maker rebate above 0.5% share of maker volume | credit of 0.001% to 0.003% |
| HYPE staking | 5% discount above 10 HYPE up to 40% above 500,000 HYPE |
| Referral code | 4% discount on the first USD 25 million of volume |
| Orders and trading on the native layer 1 | no gas fee |
| USDC deposit | network fee of the source chain, e.g. Arbitrum |
| First transfer to a new Hyperliquid account | one-off activation fee of 1 USDC |
How to save: Limit orders as a maker cost a third of the taker fee in the entry tier: on a USD 10,000 position that is USD 1.50 instead of USD 4.50. Staking just over 100 HYPE cuts both rates by 10%, and a referral code takes off another 4%. We compare other decentralised derivatives exchanges and their fees in our perp DEX comparison.
As of 22 October 2026 according to the Hyperliquid documentation on fees.
Pros & Cons
- 0% maker fee, 0.025% taker
- Daily maker rebates based on maker share
- Very low network fees on Starknet
- Unified margin across several asset classes
- Self-custody
- Considerably smaller than the market leaders
- Around 50 trading pairs — a narrower list than competitors
- No EU authorisation
- Support runs through community channels
- 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
- 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
Features
- Fee-free on the maker side
- Team with Revolut roots
- Cross-asset collateral and unified margin
- Network costs in the cents range
- 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
The five areas head to head
AI AnalysisFees & Costs
Makers pay no trading fee, takers 0.025%. Depending on 30-day maker share, daily rebates of up to 2 basis points apply on top. Network fees on Starknet typically run to a few cents per transaction and barely register against the trading fee. As of August 2026.
The entry tier is 0.015% maker and 0.045% taker. Across six further tiers based on 14-day volume, the taker fee falls to 0.024% and the maker fee drops to 0% above USD 500 million; market makers with more than 0.5% of maker volume also receive a rebate. Further discounts come from HYPE staking (5 to 40%) and a referral code (4%). Orders on the native layer 1 cost no gas, so the trading fee reflects the actual cost. As of 22 October 2026.
Usability & User Experience
The interface is functional and aimed at users with futures experience. Access runs through a wallet connection. As of August 2026.
The interface follows classic futures terminals and assumes working knowledge of margin, funding and liquidation prices. Access is by wallet connection or email login, with no account opening. As of October 2026.
Features & Offering
Extended runs more than 50 perpetual pairs and adds spot and lending markets. Collateral can be deployed across asset classes and margin is unified at account level. Alongside standard order types there are TP/SL brackets that set target and stop together. As of August 2026.
More than 170 perpetual markets trade against USDC collateral. Besides market and limit orders there are stop, take-profit, scale and trailing-stop orders as well as TWAP execution, which splits larger positions into suborders at least 30 seconds apart. That feature is usually reserved for institutional interfaces. Margin can be run cross (the default) or isolated. As of October 2026.
Details
| X10 Ltd | Company | Hyperliquid Labs |
| Seychelles | Headquarters | Singapore |
Verdict
In our overall rating Hyperliquid leads with 4.8 against 4.4 for Extended.
For most investors Hyperliquid is therefore the better choice.
Extended was built by a team with a Revolut background and runs on Starknet mainnet. The product promise goes beyond plain perpetuals: collateral can be used across asset classes, margin is unified, and spot and lending markets round out the offering.
On price Extended leads: makers pay nothing, takers 0.025%, with daily maker rebates depending on maker share. Network fees on Starknet run to a few cents per transaction, so total costs stay low even for frequent trading.
Scale needs stating plainly: measured by capital locked, Extended is far smaller than Hyperliquid or Lighter, and the market list covers roughly 50 pairs. The platform holds no EU authorisation; perpetuals sit outside MiCA in any case, and tax reporting rests entirely with the user.
Hyperliquid is the reference point among perpetual DEXs. Trading runs through an order book held entirely on-chain on a purpose-built layer 1 rather than through an AMM pool, which in practice delivers execution close to a centralised exchange while custody stays with the user.
Entry-tier fees are 0.015% maker and 0.045% taker and fall further across volume tiers; staking HYPE reduces them again. No network fees apply on the native layer 1. Leverage is tiered by market: up to 40x on Bitcoin and considerably lower on smaller markets.
The regulatory picture is straightforward: Hyperliquid holds no EU authorisation, and perpetuals sit outside MiCA in any case. There is no withholding at source, so tax reporting rests entirely with the user. The platform suits experienced traders who weight self-custody and execution quality above regulatory protection.