Hyperliquid
The High-Performance DEX
Zero gas. Sub-second finality. Up to 50x leverage. Experience the speed of CEX with the security of DEX.
24h Volume
$1.2B+
+15%Total Value Locked
$850M+
+5%Active Traders
125k+
+120/dayWhy Hyperliquid?
Zero Gas Fees
Trade without paying a cent in gas. The L1 is optimized for high-frequency trading.
Sub-second Finality
Orders execute instantly. No more waiting for block confirmations.
Self-Custody
Your funds, your keys. Deposit and withdraw anytime without permission.
On-Chain Order Book
Real liquidity, no AMM slippage. Trade against a transparent CLOB.
Up to 50x Leverage
Capital efficiency for serious traders. Cross and isolated margin modes.
Secure Architecture
Built on a custom L1 specifically designed for performant DeFi.
Start Trading in 3 Steps
Connect Wallet
Use Rabby, MetaMask or any EVM wallet to connect instantly.
Deposit USDC
Bridge USDC.e from Arbitrum. One-click deposit.
Start Trading
Access perp markets with up to 50x leverage immediately.
Market Overview
24h Volume
$1.5B+
Total Value Locked (TVL)
$950M+
Active Users
140,000+
Chain Speed (TPS)
20,000+
Why Professional Traders Choose Hyperliquid
Hyperliquid solves the "Blockchain Trilemma" for traders: how to get speed, decentralization, and low costs in one place.
1. Zero Gas Fees
On Ethereum or Arbitrum, every click costs money. On Hyperliquid, gas is subsidized by the protocol. You pay $0 to place, cancel, or modify orders.
2. The Performance of a CEX
Built on a custom L1 written in Rust, Hyperliquid processes orders in less than 0.2 seconds. Instant execution during high volatility.
3. True Self-Custody
Your funds never leave your control until a trade executes. Unlike FTX or Binance, there is no exchange wallet that can be frozen.
4. Transparent On-Chain Order Book
No AMM slippage. No opaque pricing. Hyperliquid uses a fully on-chain CLOB. You can see every bid and ask, ensuring fair price discovery and deep liquidity for size.
Product Ecosystem
Hyperliquid is a complete financial suite. Whether you are a scalper, a swing trader, or a yield farmer, there is a tool for you.
Perpetual Futures
- •Trade 100+ assets with up to 50x leverage
- •Cross & Isolated Margin: Manage your risk precisely
- •USDC Settlement: All PnL is denominated in USDC
- •One-Click Trading: Sign once, trade endlessly
Spot Markets & HIP-1 Assets
- •Trade native tokens directly on the L1
- •Fair Launches: The HIP-1 standard for fair distribution
- •HYPE Token: The cornerstone of the ecosystem
- •Zero Gas Spot Trading: Buy and sell instantly
HLP (Hyperliquidity Provider)
- •Earn institutional-grade yield by becoming the house
- •Automated Market Making: Deposit USDC into the HLP vault
- •Share the Profits: Earn trading fees and liquidation penalties
- •Historical APY: Often 20-100%+ APY
Hyperliquid vs. The Competition
How does Hyperliquid stack up against the giants of the industry?
| Feature | Hyperliquid | Binance / Bybit | GMX / Uniswap |
|---|---|---|---|
| Custody | Self-Custody (Safe) | Third-Party (Risk) | Self-Custody (Safe) |
| Gas Fees | $0.00 | $0.00 | $0.50 - $50.00 |
| Speed | < 1 sec | < 1 sec | 10-15 sec (L2s) |
| Liquidity | Order Book (CLOB) | Order Book (CLOB) | AMM (High Slippage) |
| KYC | None | Mandatory | None |
| Leverage | Up to 50x | Up to 125x | Up to 50x |
Frequently Asked Questions
General
What is Hyperliquid?
Hyperliquid is a decentralized perpetual exchange (DEX) running on its own high-performance Layer 1 blockchain. It offers the speed and experience of a CEX with the self-custody of DeFi.
Do I need KYC to trade?
No. Hyperliquid is a permissionless protocol. You trade directly from your Web3 wallet without providing ID, passport, or proof of address.
Is it safe?
The protocol is non-custodial, meaning you retain full control of your funds on the L1. However, like all DeFi platforms, it carries smart contract risks and bridge risks.
What are the fees?
Hyperliquid offers zero gas fees for all trading actions. Trading fees are highly competitive: 0.01% for Makers (Limit orders) and 0.035% for Takers (Market orders).
Which countries are restricted?
The protocol itself is permissionless, but the official frontend app.hyperliquid.xyz blocks users from the US, Canada, and sanctioned jurisdictions.
Trading & Mechanics
How fast is the exchange?
Hyperliquid's custom L1 processes up to 200,000 orders per second with latency under 0.2 seconds. It is built to handle high-frequency trading (HFT).
What assets can I trade?
You can trade 100+ perpetual pairs (BTC, ETH, SOL, etc.) with up to 50x leverage, plus a growing list of Spot assets like HYPE and PURR.
What is Cross vs. Isolated Margin?
Cross Margin uses your entire account balance to back all positions (riskier but capital efficient). Isolated Margin limits risk to a specific amount per trade.
How do I deposit funds?
You bridge USDC.e (Bridged USDC) from the Arbitrum One network. The bridge takes about 40 seconds to confirm.
Can I use a mobile phone?
Yes. While there is no App Store app, the website is a mobile-optimized PWA that works perfectly in mobile wallet browsers (Rabby, MetaMask).
HLP & Ecosystem
What is the HLP Vault?
HLP (Hyperliquidity Provider) is a vault where you deposit USDC to become a market maker. You earn a share of PnL from trading fees and liquidations.
What is the HYPE token utility?
HYPE is used for staking (PoS security), governance votes, fee discounts, and paying gas for the upcoming HyperEVM layer.
What is HyperEVM?
It is an upcoming layer that will allow developers to deploy smart contracts (like lending apps or games) directly on top of the Hyperliquid L1.
What is HIP-3?
HIP-3 is a governance proposal that introduced 'Permissionless Spot Markets,' allowing anyone to deploy new tokens and list them instantly via Dutch Auction.
How does the Buyback & Burn work?
A significant portion of protocol fees (from HLP and Spot) is used to programmatically buy back and burn the HYPE token, creating deflationary pressure.