What is Hyperliquid?
Hyperliquid is a layer-1 blockchain whose HyperCore layer runs fully onchain perpetual futures and spot order books. Many Telegram bots and trading terminals in this catalog route their orders to it.
Hyperliquid uses its own HyperBFT consensus with one-block finality, and the team states HyperCore handles about 200,000 orders per second. HyperEVM adds a general smart contract layer that can access HyperCore liquidity.
Beyond crypto perps, HIP-3 lets deployers launch permissionless perp markets, which now include stocks, indices, commodities and FX. Deployers can set their own fee share on these markets.
Positions are managed from a user's wallet, with sub-accounts, vaults, portfolio margin and TP/SL orders. The HLP community vault provides liquidity and takes part in liquidations.
Risks include validator-level decisions on delisting and market interventions, such as the March 2025 JELLY episode, and auto-deleveraging during extreme moves.
Good fit for
- Perps traders who want transparent onchain execution
- Developers building bots on a public API
- HYPE holders seeking fee discounts
Not ideal for
- Beginners unfamiliar with leverage and liquidation
- Users who need a regulated venue
Hyperliquid Atlas AI Score
8.7 / 10 Excellent
Confidence: High
Hyperliquid is the reference venue for onchain perps, with low published fees and deep liquidity. Understand liquidation, auto-deleveraging and validator governance before trading with leverage.
Perps, spot, HIP-3, vaults, API.
Full tier schedule published.
Non-custodial; validator interventions noted.
Leading onchain perps venue.
Detailed public docs.
Scored by AI from official sources on October 27, 2026. No hands-on testing or security audit. How we score
Hyperliquid features
- Markets
- Perps and spot on onchain order books
- HIP-3
- Permissionless perps on stocks, commodities, FX
- Fees
- Published volume tiers plus staking discounts
- Accounts
- Sub-accounts, vaults, portfolio margin
- Orders
- Limit, market, TP/SL, TWAP
- HyperEVM
- Smart contracts linked to HyperCore
- API
- Public API and builder codes for front ends
- HLP
- Community liquidity vault
Hyperliquid fees
| Tier (14d weighted volume) | Perps taker | Perps maker | Spot taker | Spot maker |
|---|---|---|---|---|
| 0 (base) | 0.045% | 0.015% | 0.070% | 0.040% |
| 1 (>$5M) | 0.040% | 0.012% | 0.060% | 0.030% |
| 2 (>$25M) | 0.035% | 0.008% | 0.050% | 0.020% |
| 3 (>$100M) | 0.030% | 0.004% | 0.040% | 0.010% |
| 4 (>$500M) | 0.028% | 0.000% | 0.035% | 0.000% |
| 6 (>$7B) | 0.024% | 0.000% | 0.025% | 0.000% |
Fees follow a rolling 14-day weighted volume, where spot volume counts double. Perps start at 0.045% taker and 0.015% maker, falling to 0.024% taker and 0% maker above $7B. Spot starts at 0.070% taker and 0.040% maker.
Staking HYPE cuts fees by 5% to 40% depending on the amount staked, and high-share makers can earn rebates up to -0.003%. Hyperliquid says fees go to HLP, the assistance fund, which burns HYPE, and asset deployers rather than the team.
Hyperliquid pros and cons
Pros
- Fully published fee schedule
- Deep onchain liquidity
- Non-custodial trading
- Huge ecosystem of bots and front ends
- Fees directed to the community and HYPE burn
Cons
- Validator interventions have occurred in stress events
- Auto-deleveraging can close profitable positions
- HIP-3 market quality varies by deployer
- Some jurisdictions restricted by terms
Hyperliquid vs Based vs StratiDex
The closest alternatives in our catalog: same market first, then the highest-scoring products.
| Feature | Hyperliquid | Based | StratiDex |
|---|---|---|---|
| Type | Layer-1 blockchain with fully onchain perpetual and spot order books | Self-custodial Hyperliquid app for crypto and stock perps | Telegram bot for trading Hyperliquid perpetuals, including stocks and commodities |
| Platform | Web app (app.hyperliquid.xyz) · API · third-party front ends and Telegram bots · Hyperliquid L1 (HyperCore and HyperEVM) | Web, desktop, iOS, Android · Hyperliquid | Telegram · Hyperliquid |
| Trading fee | Perps 0.045% taker / 0.015% maker at base tier; spot 0.070% / 0.040% | from 0.011% taker (TradFi perps) | 0.10% per executed order + Hyperliquid fees |
| Custody | Non-custodial: trades settle on the Hyperliquid L1 from the user's own wallet | Self-custodial | Self-custodial: your own Hyperliquid account with an exportable key; the bot's trading key cannot withdraw |
| Telegram | Not published | Not published | @stratidex_bot |
| Atlas AI Score | 8.7 / 10 | 8.3 / 10 | 7.7 / 10 |
| Confidence | High | High | High |
How to get started with Hyperliquid
- Open app.hyperliquid.xyz and connect a self-custody wallet.
- Deposit USDC from Arbitrum or another supported route.
- Review margin mode and leverage for the market.
- Place a small order and confirm the fee tier shown.
