Hyperliquid vs Nado
Hyperliquid traded 20× Nado's 24-hour volume ($8.17B vs $399.3M) and holds 131× its open interest.
Head to head
the arrow points to the better figure| Hyperliquid | Nado | |
|---|---|---|
| Trading | ||
| $9.13 | BTC trade, $10k▶ | $7.13 |
| $1,121 | BTC trade, $1M▶ | $939 |
| $39.8M | ◀BTC book depth | $7.5M |
| 0.045%/0.015% | Taker / maker▶ | 0.035%/0.010% |
| 40x | Max leverage▶ | 50x |
| Size | ||
| $8.17B | ◀Volume 24h | $399.3M |
| $6.96B | ◀Volume, 7-day average | $380.3M |
| $10.11B | ◀Open interest | $77.3M |
| $6.34B | ◀TVL | $53.8M |
| Markets | ||
| 179 | ◀Markets | 73 |
| 164 | ◀Stocks & RWA | 30 |
| 1h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0100% |
| +0.722% | BTC longs paid, 30d | +0.602% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | none yet |
| Season 2 | Airdrop | Active |
Cost to trade BTC
| Size | Hyperliquid | Nado |
|---|---|---|
| $1k | $0.919.1 bp | $0.717.1 bp |
| $10k | $9.139.1 bp | $7.137.1 bp |
| $100k | $91.329.1 bp | $71.327.1 bp |
| $1M | $1,12111.2 bp | $9399.4 bp |
| $5M | $6,85813.7 bp | $13,84927.7 bp |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 42
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Nado | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0100% | 0.0000% | −$17 |
| ETH | −0.0030% | +0.0059% | +0.0089% | −$25 |
| HYPE | +0.0132% | +0.0100% | +0.0032% | +$3 |
| SOL | −0.0095% | −0.0124% | +0.0029% | −$14 |
| ZEC | +0.0100% | +0.0100% | 0.0000% | −$17 |
| LIT | +0.0024% | −0.0470% | +0.0494% | −$31 |
| NEAR | +0.0100% | +0.0011% | +0.0089% | −$34 |
| XMR | +0.0765% | +0.1085% | +0.0320% | −$57 |
| XRP | +0.0100% | +0.0100% | 0.0000% | −$22 |
| BNB | +0.0100% | +0.0100% | 0.0000% | −$38 |
| PUMP | +0.0100% | +0.0081% | +0.0019% | −$38 |
| XPL | −0.0687% | −0.0711% | +0.0024% | −$25 |
| AAVE | +0.0100% | +0.0031% | +0.0069% | −$46 |
| ZRO | −0.0144% | +0.0100% | +0.0244% | −$78 |
| SUI | −0.0058% | +0.0016% | +0.0074% | −$32 |
| MON | +0.0100% | −0.0520% | +0.0620% | −$19 |
| BCH | +0.0100% | −0.0135% | +0.0235% | −$19 |
| UNI | +0.0100% | −0.0110% | +0.0210% | −$13 |
| ENA | +0.0084% | +0.0100% | +0.0016% | −$33 |
| FARTCOIN | −0.0373% | +0.0025% | +0.0398% | −$52 |
Only on Hyperliquid: 137 (+26 via HIP-3)
PAXG · ADA · STRK · AERO · GRASS · TRX · TRUMP · ARB · CRV · PURR · XLM · HBAR · ETHFI · PENDLE · LDO · TIA · FET · FIL · CC · INJ · MORPHO · DOT · POL · VIRTUAL · MNT · ATOM · WIF · SYRUP · SPX · OP · APT · IMX · SHIB · CFX · ALGO · W · RENDER · SEI · ICP · DASH · NIL · ETC · MET · LINEA · RUNE · JTO · PYTH · ENS · MINA · SAGA · ZK · HMSTR · KAS · CAKE · STBL · INIT · STX · APEX · DYDX · AVNT · and 77 more
Questions
Is Hyperliquid or Nado cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $7.13 on Nado right now, taker fee and order-book slippage together, so Nado is cheaper. Taker fees: 0.045% and 0.035%.
Which has more markets, Hyperliquid or Nado?
Hyperliquid lists 179 active markets and Nado 73; 42 assets trade on both.
Does Hyperliquid or Nado require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Nado: No ID (card deposits through a third-party on-ramp may ask); the US and Canada are view-only, sanctioned countries blocked.
Can you arbitrage funding between Hyperliquid and Nado?
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 HYPE, long on Nado and short on Hyperliquid, with $3 left after costs.
Which is bigger, Hyperliquid or Nado?
24-hour volume: Hyperliquid $8.17B, Nado $399.3M. Open interest as each reports it: $10.11B and $77.3M. TVL: $6.34B and $53.8M.