Head to head
the arrow points to the better figure| Hyperliquid | Orderly | |
|---|---|---|
| Trading | ||
| $9.13 | BTC trade, $10k | — |
| $1,121 | BTC trade, $1M | — |
| $39.8M | BTC book depth | — |
| 0.045%/0.015% | Taker / maker▶ | 0.030%/0.000% |
| 40x | Max leverage▶ | 100x |
| Size | ||
| $8.17B | ◀Volume 24h | $85.3M |
| $6.96B | ◀Volume, 7-day average | $89.9M |
| $10.11Blongs + shorts | Open interest | $46.7Mone side |
| $6.34B | ◀TVL | $25.9M |
| Markets | ||
| 179 | ◀Markets | 159 |
| 164 | ◀Stocks & RWA | 57 |
| 1h | Funding paid every | 1h or 4h or 8h |
| +0.0100% | BTC funding /8h | +0.0100% |
| +0.722% | BTC longs paid, 30d | +0.554% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | $ORDER |
| Season 2 | Airdrop | — |
Cost to trade BTC
| Size | Hyperliquid | Orderly |
|---|---|---|
| $1k | $0.919.1 bp | — |
| $10k | $9.139.1 bp | — |
| $100k | $91.329.1 bp | — |
| $1M | $1,12111.2 bp | — |
| $5M | $6,85813.7 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 74
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Orderly | Spread | Net 7d |
|---|---|---|---|---|
| ETH | −0.0030% | +0.0100% | +0.0134% | — |
| BTC | +0.0100% | +0.0100% | 0.0000% | — |
| SOL | −0.0095% | +0.0034% | +0.0136% | — |
| ZEC | +0.0100% | +0.0026% | +0.0075% | — |
| BNB | +0.0100% | +0.0100% | 0.0000% | — |
| HYPE | +0.0132% | +0.0100% | +0.0046% | — |
| TRX | −0.0663% | +0.0100% | +0.0774% | — |
| S | +0.0059% | −0.0324% | +0.0368% | — |
| XRP | +0.0100% | +0.0100% | 0.0000% | — |
| DOGE | −0.0060% | +0.0078% | +0.0146% | — |
| PUMP | +0.0100% | +0.0007% | — | — |
| ENA | +0.0084% | +0.0093% | +0.0009% | — |
| SUI | −0.0058% | +0.0061% | +0.0127% | — |
| ZRO | −0.0144% | −0.0038% | +0.0087% | — |
| WLD | −0.0846% | −0.0246% | — | — |
| NEAR | +0.0100% | +0.0100% | +0.0004% | — |
| LIT | +0.0024% | −0.0177% | +0.0195% | — |
| HBAR | +0.0100% | +0.0090% | — | — |
| ASTER | +0.0100% | +0.0099% | — | — |
| XPL | −0.0687% | −0.0045% | +0.0646% | — |
Only on Hyperliquid: 105 (+50 via HIP-3)
AERO · GRASS · CASHCAT · PURR · LDO · MEGA · CHIP · CC · MORPHO · ATOM · SYRUP · IMX · SHIB · CFX · ALGO · W · RENDER · NIL · ETC · LINEA · RUNE · ENS · MINA · SAGA · ZK · HMSTR · KAS · STBL · INIT · STX · APEX · DYDX · AVNT · POPCAT · REZ · GOAT · IOTA · GRIFFAIN · APE · COMP · AZTEC · 0G · RESOLV · GMX · XTEN · PNUT · MELANIA · USUAL · STABLE · BLUR · SAND · ALT · AR · SUPER · ZETA · HEMI · BSV · CELO · ZORA · 2Z · and 45 more
Questions
Which has more markets, Hyperliquid or Orderly?
Hyperliquid lists 179 active markets and Orderly 159; 74 assets trade on both.
Does Hyperliquid or Orderly require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Orderly: No ID (the terms allow checks where applicable); not for US persons or sanctioned countries, and each front end can add rules.
Can you arbitrage funding between Hyperliquid and Orderly?
Not profitably right now: none of the 74 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Hyperliquid or Orderly?
24-hour volume: Hyperliquid $8.17B, Orderly $85.3M. Open interest as each reports it: $10.11B and $46.7M. Hyperliquid reports open interest as longs plus shorts, both sides of every position; Orderly reports one side. For the same positions Hyperliquid's figure reads about twice as large. TVL: $6.34B and $25.9M.