What is Hyperliquid?
Hyperliquid launched in 2023 and has become one of the names people actually recognise in leveraged derivatives trading. On-chain perpetuals with CEX-grade speed and no custody risk. In day-to-day use the platform is judged on three things: what it costs, how quickly it moves your money, and whether it behaves the same way when markets get busy. On pricing, Hyperliquid sits at 0.01% / 0.035%, which we have verified against the public fee schedule rather than the marketing page.
Our rating reflects fees, usability and trust rather than brand size alone. We looked at onboarding friction, how clearly limits and requirements are communicated, what happens when you need support, and whether withdrawals arrive on time. The pros and cons below are the points that would actually change your decision — not a feature list. If Hyperliquid is not the right fit, the alternatives further down the page cover the same use case with a different trade-off.
Key features
- Perpetual swaps with adjustable leverage
- Cross and isolated margin modes
- Sub-second matching engine
Pros
- Tight spreads on flagship contracts
- Advanced order types and API access
- Transparent funding-rate history
Cons
- Leverage magnifies losses very quickly
- Not suitable for first-time traders
Website engagement
Top countries
- US44%
- JP21%
- AU15%
- PH13%
- DE7%
Traffic estimates come from third-party providers and may fluctuate.