Gains Network vs Hyperliquid Comparison
| 0.08% opening / 0.08% closing | Fees | 0.015% maker / 0.045% taker |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, including all fees and spreads.
| 0.08% opening / 0.08% closing | Fees | 0.015% maker / 0.045% taker |
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. Taker fees step down across 14-day volume tiers, with maker rebates at the highest tiers. Further discounts come from HYPE staking and referral links. No network fees apply on the native layer 1, so the trading fee reflects the actual cost. As of August 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 with no registration step. As of August 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. Alongside market, limit, stop-loss and take-profit orders, TWAP execution spreads larger positions over time — a feature usually reserved for institutional interfaces. Margin can be run isolated or cross. As of August 2026.
Details
| Gains Network | Company | Hyperliquid Labs |
| Decentralised, no registered office | Headquarters | United States |
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.