Head to head
the arrow points to the better figure| Hyperliquid | dYdX | |
|---|---|---|
| Trading | ||
| $9.13 | ◀BTC trade, $10k | $20.60 |
| $1,121 | ◀BTC trade, $1M | $3,310 |
| $39.8M | BTC book depth▶ | $67.4M |
| 0.045%/0.015% | Taker / maker≈ | 0.050%/0.010% |
| 40x | Max leverage▶ | 50x |
| Size | ||
| $8.25B | ◀Volume 24h | $54.6M |
| $6.96B | ◀Volume, 7-day average | $39.9M |
| $10.15Blongs + shorts | Open interest | $55.5Mone side |
| $6.34B | ◀TVL | $68.5M |
| Markets | ||
| 179 | ◀Markets | 57 |
| 164 | ◀Stocks & RWA | 0 |
| 1h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0027% |
| +0.722% | BTC longs paid, 30d | +0.321% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | $DYDX |
| Season 2 | Airdrop | Not active |
Cost to trade BTC
| Size | Hyperliquid | dYdX |
|---|---|---|
| $1k | $0.919.1 bp | $1.7417.4 bp |
| $10k | $9.139.1 bp | $20.6020.6 bp |
| $100k | $91.329.1 bp | $27127.1 bp |
| $1M | $1,12111.2 bp | $3,31033.1 bp |
| $5M | $6,85813.7 bp | $40,03080.1 bp |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 56
funding /8h · Net 7d at $10k| Asset | Hyperliquid | dYdX | Spread | Net 7d |
|---|---|---|---|---|
| ETH | −0.0015% | +0.0149% | +0.0164% | −$15 |
| BTC | +0.0100% | +0.0027% | +0.0073% | −$27 |
| SOL | −0.0063% | +0.0144% | +0.0208% | −$2 |
| HYPE | +0.0246% | +0.0002% | +0.0244% | −$740 |
| XRP | +0.0100% | 0.0000% | +0.0100% | −$108 |
| LTC | +0.0100% | 0.0000% | +0.0100% | −$109 |
| ZEC | +0.0100% | 0.0000% | +0.0100% | −$170 |
| DOGE | −0.0007% | 0.0000% | +0.0007% | −$204 |
| PYTH | +0.0100% | 0.0000% | +0.0100% | −$118 |
| LINK | +0.0100% | 0.0000% | +0.0100% | −$299 |
| TRX | −0.0572% | 0.0000% | +0.0572% | −$367 |
| XMR | +0.0775% | +0.1646% | +0.0871% | −$464 |
| ADA | +0.0100% | 0.0000% | +0.0100% | −$373 |
| ALGO | +0.0100% | 0.0000% | +0.0100% | −$255 |
| BNB | +0.0100% | 0.0000% | +0.0100% | −$106 |
| NEAR | +0.0100% | 0.0000% | +0.0100% | — |
| DOT | +0.0100% | 0.0000% | +0.0100% | — |
| SUI | −0.0074% | 0.0000% | +0.0074% | — |
| UNI | +0.0100% | 0.0000% | +0.0100% | — |
| SEI | +0.0100% | 0.0000% | +0.0100% | — |
Only on Hyperliquid: 123
LIT · ENA · VVV · ZRO · XPL · AERO · GRASS · CASHCAT · GRAM · FARTCOIN · ONDO · WLFI · TRUMP · PURR · PONS · USELESS · ETHFI · MEGA · CHIP · FET · CC · MORPHO · VIRTUAL · MNT · WIF · SYRUP · SPX · SKY · SHIB · CFX · W · NIL · DASH · MET · LINEA · ENS · MINA · SAGA · ZK · HMSTR · KAS · STBL · CAKE · INIT · STX · APEX · BERA · AVNT · POPCAT · REZ · KAITO · GOAT · IOTA · GRIFFAIN · APE · AZTEC · 0G · RESOLV · GMX · XTEN · and 63 more
Only on dYdX: 1
Questions
Is Hyperliquid or dYdX cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $20.60 on dYdX right now, taker fee and order-book slippage together, so Hyperliquid is cheaper. Taker fees: 0.045% and 0.05%.
Which has more markets, Hyperliquid or dYdX?
Hyperliquid lists 179 active markets and dYdX 57; 56 assets trade on both.
Does Hyperliquid or dYdX require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. dYdX: No ID, a web3 wallet is enough; dydx.trade blocks the US, Canada, the UK and sanctioned places (close-only, then blocked after 7 days).
Can you arbitrage funding between Hyperliquid and dYdX?
Not profitably right now: none of the 56 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Hyperliquid or dYdX?
24-hour volume: Hyperliquid $8.25B, dYdX $54.6M. Open interest as each reports it: $10.15B and $55.5M. Hyperliquid reports open interest as longs plus shorts, both sides of every position; dYdX reports one side. For the same positions Hyperliquid's figure reads about twice as large. TVL: $6.34B and $68.5M.