Hyperliquid vs Paradex
Hyperliquid traded 742× Paradex's 24-hour volume ($8.25B vs $11.1M) and holds 425× its open interest.
Head to head
the arrow points to the better figure| Hyperliquid | Paradex | |
|---|---|---|
| Trading | ||
| $9.13 | BTC trade, $10k≈ | $10.04 |
| $1,121 | BTC trade, $1M | — |
| $39.8M | ◀BTC book depth | $498K |
| 0.045%/0.015% | Taker / maker▶ | 0.020%/0.000% |
| 40x | Max leverage▶ | 50x |
| Size | ||
| $8.25B | ◀Volume 24h | $11.1M |
| $6.96B | ◀Volume, 7-day average | $8.7M |
| $10.15B | ◀Open interest | $23.9M |
| $6.34B | ◀TVL | $21.6M |
| Markets | ||
| 179 | ◀Markets | 62 |
| 164 | ◀Stocks & RWA | 23 |
| 1h | Funding paid every | 8h |
| +0.0100% | BTC funding /8h | +0.0097% |
| +0.722% | BTC longs paid, 30d | +0.706% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | $DIME |
| Season 2 | Airdrop | Active |
Cost to trade BTC
| Size | Hyperliquid | Paradex |
|---|---|---|
| $1k | $0.919.1 bp | $1.0010.0 bp |
| $10k | $9.139.1 bp | $10.0410.0 bp |
| $100k | $91.329.1 bp | $48848.8 bp |
| $1M | $1,12111.2 bp | — |
| $5M | $6,85813.7 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 43
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Paradex | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0097% | +0.0003% | −$18 |
| ETH | −0.0015% | +0.0048% | +0.0063% | −$27 |
| STRK | +0.0100% | +0.0028% | +0.0072% | −$950 |
| SOL | −0.0063% | −0.0008% | +0.0055% | −$160 |
| ZEC | +0.0100% | +0.0094% | +0.0006% | −$231 |
| HYPE | +0.0246% | +0.0092% | +0.0154% | −$347 |
| XPL | −0.0517% | +0.0067% | +0.0584% | — |
| PAXG | +0.0100% | +0.0100% | 0.0000% | −$26 |
| BNB | +0.0100% | +0.0099% | +0.0001% | — |
| NEAR | +0.0100% | +0.0070% | — | — |
| UNI | +0.0100% | +0.0082% | — | — |
| LINK | +0.0100% | +0.0037% | — | — |
| LTC | +0.0100% | +0.0046% | — | — |
| PENDLE | +0.0100% | +0.0095% | — | — |
| ENA | +0.0100% | +0.0088% | — | — |
| ADA | +0.0100% | +0.0027% | — | — |
| PUMP | +0.0100% | +0.0093% | — | — |
| LIT | −0.0056% | −0.0006% | — | — |
| DOGE | −0.0007% | +0.0042% | — | — |
| AAVE | +0.0100% | +0.0017% | — | — |
Only on Hyperliquid: 136 (+22 via HIP-3)
ZRO · WLD · ASTER · GRASS · CASHCAT · FARTCOIN · ARB · CRV · PURR · PONS · USELESS · XLM · HBAR · MEGA · CHIP · BCH · BONK · TIA · FET · FIL · INJ · DOT · POL · VIRTUAL · MNT · ATOM · WIF · SYRUP · SPX · OP · PENGU · APT · IMX · SKY · CFX · ALGO · W · RENDER · SEI · ICP · NIL · DASH · ETC · MET · LINEA · EIGEN · RUNE · ENS · MINA · SAGA · ZK · HMSTR · KAS · STBL · CAKE · INIT · STX · APEX · DYDX · BERA · and 76 more
Only on Paradex: 1
Questions
Is Hyperliquid or Paradex cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $10.04 on Paradex right now, taker fee and order-book slippage together: about the same. Taker fees: 0.045% and 0.02%.
Which has more markets, Hyperliquid or Paradex?
Hyperliquid lists 179 active markets and Paradex 62; 43 assets trade on both.
Does Hyperliquid or Paradex require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Paradex: No ID; not for US or Canadian persons or sanctioned regions, and a VPN around the block is forbidden.
Can you arbitrage funding between Hyperliquid and Paradex?
Not profitably right now: none of the 43 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Hyperliquid or Paradex?
24-hour volume: Hyperliquid $8.25B, Paradex $11.1M. Open interest as each reports it: $10.15B and $23.9M. TVL: $6.34B and $21.6M.