Head to head
the arrow points to the better figure| Hyperliquid | Popdex | |
|---|---|---|
| Trading | ||
| $9.13 | BTC trade, $10k≈ | $8.34 |
| $1,121 | BTC trade, $1M▶ | $945 |
| $39.8M | ◀BTC book depth | $12.3M |
| 0.045%/0.015% | Taker / maker▶ | 0.032%/0.010% |
| 40x | Max leverage▶ | 100x |
| Size | ||
| $8.17B | ◀Volume 24h | $336.4M |
| $6.96B | ◀Volume, 7-day average | $198.6M |
| $10.11Blongs + shorts | Open interest | $92.7Mone side |
| $6.34B | ◀TVL | $76.6M |
| Markets | ||
| 179 | ◀Markets | 66 |
| 164 | ◀Stocks & RWA | 35 |
| 1h | Funding paid every | 1h |
| +0.0100% | BTC funding /8h | +0.0100% |
| +0.722% | BTC longs paid, 30d | +0.775% |
| Access | ||
| No ID | KYC | No ID |
| $HYPE | Token | none yet |
| Season 2 | Airdrop | — |
Cost to trade BTC
| Size | Hyperliquid | Popdex |
|---|---|---|
| $1k | $0.919.1 bp | $0.747.4 bp |
| $10k | $9.139.1 bp | $8.348.3 bp |
| $100k | $91.329.1 bp | $84.888.5 bp |
| $1M | $1,12111.2 bp | $9459.4 bp |
| $5M | $6,85813.7 bp | $7,77815.6 bp |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 29
funding /8h · Net 7d at $10k| Asset | Hyperliquid | Popdex | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0100% | +0.0100% | 0.0000% | −$16 |
| ETH | −0.0030% | +0.0100% | +0.0130% | −$23 |
| ENA | +0.0084% | +0.0100% | +0.0016% | −$98 |
| SOL | −0.0095% | +0.0082% | +0.0177% | −$21 |
| PEPE | −0.0281% | +0.0100% | +0.0381% | −$36 |
| ZEC | +0.0100% | +0.0271% | +0.0171% | −$28 |
| HYPE | +0.0132% | +0.0100% | +0.0032% | −$1 |
| XRP | +0.0100% | +0.0100% | 0.0000% | −$33 |
| LINK | +0.0100% | +0.0100% | 0.0000% | −$40 |
| NEAR | +0.0100% | +0.0100% | 0.0000% | −$36 |
| BNB | +0.0100% | +0.0100% | 0.0000% | −$2 |
| DOGE | −0.0060% | +0.0100% | +0.0160% | −$22 |
| AAVE | +0.0100% | +0.0100% | 0.0000% | −$46 |
| SUI | −0.0058% | +0.0100% | +0.0158% | −$42 |
| LTC | +0.0100% | +0.0100% | 0.0000% | −$43 |
| ADA | +0.0100% | +0.0100% | 0.0000% | −$31 |
| XLM | +0.0049% | +0.0100% | +0.0051% | −$70 |
| GRAM | −0.0977% | +0.0100% | +0.1077% | −$101 |
| APT | −0.0222% | +0.0100% | +0.0322% | −$107 |
| TRUMP | −0.0338% | +0.0100% | +0.0438% | −$38 |
Only on Hyperliquid: 150 (+33 via HIP-3)
XMR · LIT · UNI · VVV · ZRO · XPL · MON · PAXG · STRK · AERO · ASTER · GRASS · FARTCOIN · WLFI · TRX · ARB · CRV · PURR · USELESS · HBAR · ETHFI · PENDLE · LDO · MEGA · CHIP · BCH · BONK · JUP · TIA · FET · FIL · CC · INJ · MORPHO · DOT · POL · VIRTUAL · MNT · ATOM · SYRUP · SPX · OP · PENGU · IMX · SKY · SHIB · CFX · ALGO · W · RENDER · SEI · ICP · DASH · NIL · ETC · MET · LINEA · EIGEN · RUNE · JTO · and 90 more
Questions
Is Hyperliquid or Popdex cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $9.13 on Hyperliquid and $8.34 on Popdex right now, taker fee and order-book slippage together: about the same. Taker fees: 0.045% and 0.032%.
Which has more markets, Hyperliquid or Popdex?
Hyperliquid lists 179 active markets and Popdex 66; 29 assets trade on both.
Does Hyperliquid or Popdex require KYC?
Hyperliquid: No ID: any EVM wallet or an email login; the app is closed to the US, Ontario and sanctioned countries. Popdex: No ID; barred countries include the US, UK, Canada, France, Germany, Austria, Singapore, Hong Kong and China.
Can you arbitrage funding between Hyperliquid and Popdex?
Not profitably right now: none of the 29 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Hyperliquid or Popdex?
24-hour volume: Hyperliquid $8.17B, Popdex $336.4M. Open interest as each reports it: $10.11B and $92.7M. Hyperliquid reports open interest as longs plus shorts, both sides of every position; Popdex reports one side. For the same positions Hyperliquid's figure reads about twice as large. TVL: $6.34B and $76.6M.