Hyperliquid vs Ondo Perps
Hyperliquid traded 18× Ondo Perps's 24-hour volume ($8.17B vs $442.0M).
Head to head
the arrow points to the better figure| Hyperliquid | Ondo Perps | |
|---|---|---|
| Trading | ||
| $9.13 | BTC trade, $10k▶ | $8.03 |
| $1,121 | BTC trade, $1M | — |
| $39.8M | ◀BTC book depth | $589K |
| 0.045%/0.015% | Taker / maker▶ | 0.025%/0.010% |
| 40x | Max leverage≈ | 40x |
| Size | ||
| $8.17B | ◀Volume 24h | $442.0M |
| $6.96B | ◀Volume, 7-day average | $283.3M |
| $10.11Blongs + shorts | Open interest | $83.3Mone side |
| $6.34B | TVL | — |
| Markets | ||
| 179 | ◀Markets | 77 |
| 164 | ◀Stocks & RWA | 65 |
| 1h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0100% |
| +0.722% | BTC longs paid, 30d | +0.693% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | none yet |
| Season 2 | Airdrop | Active |
Cost to trade BTC
| Size | Hyperliquid | Ondo Perps |
|---|---|---|
| $1k | $0.919.1 bp | $0.808.0 bp |
| $10k | $9.139.1 bp | $8.038.0 bp |
| $100k | $91.329.1 bp | $14014.0 bp |
| $1M | $1,12111.2 bp | — |
| $5M | $6,85813.7 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 11
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Ondo Perps | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0100% | 0.0000% | −$21 |
| ETH | −0.0030% | +0.0100% | +0.0134% | −$52 |
| ZEC | +0.0100% | +0.0100% | 0.0000% | −$51 |
| XRP | +0.0100% | +0.0100% | 0.0000% | — |
| HYPE | +0.0132% | +0.0100% | +0.0046% | −$59 |
| SOL | −0.0095% | +0.0100% | +0.0202% | −$45 |
| LIT | +0.0024% | +0.0100% | +0.0081% | — |
| ONDO | −0.0386% | +0.0100% | +0.0476% | −$58 |
| ENA | +0.0084% | +0.0100% | +0.0016% | — |
| PUMP | +0.0100% | +0.0100% | 0.0000% | −$127 |
| NEAR | +0.0100% | +0.0100% | +0.0004% | −$47 |
Only on Hyperliquid: 168 (+60 via HIP-3)
XMR · UNI · DOGE · LINK · VVV · AAVE · PEPE · ZRO · WLD · BNB · XPL · SUI · MON · TAO · PAXG · ADA · STRK · AERO · ASTER · GRASS · CASHCAT · GRAM · LTC · FARTCOIN · WLFI · AVAX · TRX · TRUMP · ARB · CRV · PURR · PONS · USELESS · XLM · HBAR · ETHFI · PENDLE · LDO · MEGA · CHIP · BCH · BONK · JUP · TIA · FET · FIL · CC · INJ · MORPHO · DOT · POL · VIRTUAL · MNT · ATOM · WIF · SYRUP · SPX · OP · PENGU · APT · and 108 more
Questions
Is Hyperliquid or Ondo Perps cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $8.03 on Ondo Perps right now, taker fee and order-book slippage together, so Ondo Perps is cheaper. Taker fees: 0.045% and 0.025%.
Which has more markets, Hyperliquid or Ondo Perps?
Hyperliquid lists 179 active markets and Ondo Perps 77; 11 assets trade on both.
Does Hyperliquid or Ondo Perps require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Ondo Perps: No ID (only third-party fiat on-ramps check identity); not for the US, Canada, Panama, Russia, Ukraine or sanctioned countries.
Can you arbitrage funding between Hyperliquid and Ondo Perps?
Not profitably right now: none of the 11 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Hyperliquid or Ondo Perps?
24-hour volume: Hyperliquid $8.17B, Ondo Perps $442.0M. Open interest as each reports it: $10.11B and $83.3M. Hyperliquid reports open interest as longs plus shorts, both sides of every position; Ondo Perps reports one side. For the same positions Hyperliquid's figure reads about twice as large. TVL: $6.34B and none published.