Head to head
the arrow points to the better figure| Hyperliquid | Hibachi | |
|---|---|---|
| Trading | ||
| $9.13 | ◀BTC trade, $10k | $12.24 |
| $1,121 | ◀BTC trade, $1M | $14,587 |
| $39.8M | ◀BTC book depth | $1.1M |
| 0.045%/0.015% | Taker / maker≈ | 0.045%/0.000% |
| 40x | ◀Max leverage | 30x |
| Size | ||
| $8.25B | ◀Volume 24h | $27.4M |
| $6.96B | ◀Volume, 7-day average | $16.2M |
| $10.15Blongs + shorts | Open interest | $1.3Mone side |
| $6.34B | ◀TVL | $3.3M |
| Markets | ||
| 179 | ◀Markets | 15 |
| 164 | ◀Stocks & RWA | 7 |
| 1h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0264% |
| +0.722% | BTC longs paid, 30d | +1.672% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | none yet |
| Season 2 | Airdrop | Active |
Cost to trade BTC
| Size | Hyperliquid | Hibachi |
|---|---|---|
| $1k | $0.919.1 bp | $1.2212.2 bp |
| $10k | $9.139.1 bp | $12.2412.2 bp |
| $100k | $91.329.1 bp | $14514.5 bp |
| $1M | $1,12111.2 bp | $14,587145.9 bp |
| $5M | $6,85813.7 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 8
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Hibachi | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0264% | +0.0164% | −$22 |
| HYPE | +0.0246% | +0.0728% | +0.0482% | −$100 |
| BNB | +0.0100% | +0.0576% | +0.0476% | +$34 |
| ETH | −0.0015% | −0.0192% | +0.0177% | −$41 |
| PAXG | +0.0100% | +0.0248% | +0.0148% | −$28 |
| SOL | −0.0063% | −0.0216% | +0.0153% | — |
| XRP | +0.0100% | +0.0032% | — | — |
| SUI | −0.0074% | +0.0392% | — | — |
Only on Hyperliquid: 171 (+3 via HIP-3)
ZEC · NEAR · XMR · LIT · PUMP · UNI · ENA · DOGE · LINK · VVV · AAVE · PEPE · ZRO · WLD · XPL · MON · TAO · ADA · STRK · AERO · ASTER · GRASS · CASHCAT · GRAM · LTC · FARTCOIN · ONDO · WLFI · AVAX · TRX · TRUMP · ARB · CRV · PURR · PONS · USELESS · XLM · HBAR · ETHFI · PENDLE · LDO · MEGA · CHIP · BCH · BONK · JUP · TIA · FET · FIL · CC · INJ · DOT · MORPHO · POL · VIRTUAL · MNT · ATOM · WIF · SYRUP · SPX · and 111 more
Questions
Is Hyperliquid or Hibachi cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $12.24 on Hibachi right now, taker fee and order-book slippage together, so Hyperliquid is cheaper. Taker fees: 0.045% and 0.045%.
Which has more markets, Hyperliquid or Hibachi?
Hyperliquid lists 179 active markets and Hibachi 15; 8 assets trade on both.
Does Hyperliquid or Hibachi require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Hibachi: No ID; not for the US, the UK or sanctioned countries.
Can you arbitrage funding between Hyperliquid and Hibachi?
Yes: 1 of the assets on both paid more in funding over the last 7 days than a $10k round trip on both costs. The best was BNB, long on Hyperliquid and short on Hibachi, with $34 left after costs.
Which is bigger, Hyperliquid or Hibachi?
24-hour volume: Hyperliquid $8.25B, Hibachi $27.4M. Open interest as each reports it: $10.15B and $1.3M. Hyperliquid reports open interest as longs plus shorts, both sides of every position; Hibachi reports one side. For the same positions Hyperliquid's figure reads about twice as large. TVL: $6.34B and $3.3M.