Hyperliquid Reviews
Perpetual DEX on its own layer 1 with a fully on-chain order book, 170+ markets and CEX-level fees — no KYC, but no EU authorisation either.
Hyperliquid Rating
Our Opinion
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.
Pros & Cons
- 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
User Experiences
AI AnalysisOur AI collects and analyzes user reviews of Hyperliquid from the web and summarizes the key findings.
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.
Editorial assessment based on publicly documented provider information and independent industry sources. As of August 2026. Perpetual contracts are leveraged products carrying a high risk of loss. This comparison is not investment or tax advice. All information without guarantee.
Features
Highlights
- 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
Tradeable Assets
- 170+ perpetual contracts
- Spot markets on the native layer 1
- USDC as collateral
Trading Options
- Market and limit orders
- Stop-loss and take-profit
- TWAP execution
- Isolated and cross margin
About Hyperliquid
Compare Hyperliquid
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