Gains Network vs Hyperliquid Comparison
| 0.035% per side (BTC, ETH), 0.05–0.06% other crypto, 0.012–0.02% forex | 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 A price markup in the spread is not included, because most providers do not publish it.
| 0.035% per side (BTC, ETH), 0.05–0.06% other crypto, 0.012–0.02% forex | 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
- More than 270 pairs across crypto, forex, commodities and equities
- Forex and commodity trading without a conventional brokerage account
- Collateral in DAI, USDC or WETH
- Available on several chains
- Capital-efficient synthetic model
- Leverage up to 500x on crypto and 1000x on forex — barely manageable for retail traders
- Synthetic model with oracle dependence as a structural risk factor
- The counterparty is the protocol's liquidity vault
- No EU authorisation
- 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
- Widest market list in this comparison
- Forex and commodities tradable on-chain
- Several chains and collateral types
- Synthetic model without custody of underlying assets
- 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
Fees apply on opening and closing a position and run to a few tenths of a percent depending on asset class and pair, with holding costs on top. Network fees follow the chain in use and are low on Polygon, Arbitrum and Base. Exact rates vary by market and should be checked in the interface before trading. 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 but busier than the pure crypto competitors given the market breadth. Anyone unfamiliar with synthetic trading should read up on oracle pricing and vault mechanics first. 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
gTrade tracks more than 270 pairs synthetically — cryptocurrencies alongside forex, commodities, equities and indices. Collateral can be posted in DAI, USDC or WETH. Leverage tiers reach 500x in crypto and 1000x in forex depending on asset class. The protocol runs on Polygon, Arbitrum and Base. 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
| Gains Network (Ingenium Labs Foundation) | Company | Hyperliquid Labs |
| Panama | Headquarters | Singapore |
Verdict
In our overall rating Hyperliquid leads with 4.8 against 3.6 for Gains Network.
For most investors Hyperliquid is therefore the better choice.
Gains Network runs gTrade, a platform that stands well apart from pure crypto perpetuals. Trading is synthetic: no underlying assets are custodied, only price differences are tracked. That allows a market breadth unmatched in this comparison — more than 270 pairs across crypto, forex, commodities and equities.
Leverage tiers are correspondingly extreme: up to 500x in crypto and up to 1000x in forex. Figures at that level are practically unmanageable for retail traders, with liquidation thresholds a fraction of a percent away. Collateral can be posted in DAI, USDC or WETH. The protocol runs on Polygon, Arbitrum and Base, with indices additionally on Solana.
The synthetic model carries a structural risk factor: prices come from oracle feeds and the counterparty is ultimately the protocol's liquidity vault. For users seeking forex or commodity leverage without a brokerage account, gTrade remains one of the few serious on-chain venues. 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.