Side-by-side comparison of two perpetual futures exchanges — updated in real time.
Hyperliquid and Aster represent two distinct approaches to orderbook-based perpetual trading. Hyperliquid runs on its own L1 with deep native liquidity, while Aster offers extreme leverage up to 1001x on BNB Chain with tokenized stock perps.
Hyperliquid operates a fully on-chain orderbook on its custom L1 blockchain, delivering sub-second finality and zero gas fees. It lists 190 markets with up to 50x leverage, charging a 0.015% maker fee and 0.045% taker fee. Aster, formed from the merger of APX Finance and Astherus, takes a different path with 302 markets, including tokenized stocks and commodities. Aster's headline feature is its 1001x leverage in Simple mode, paired with lower fees at 0.01% maker and 0.035% taker. However, Hyperliquid's native L1 provides tighter spreads and deeper organic liquidity, which matters more for larger position sizes. Aster's BNB Chain base gives it access to Binance's ecosystem and YZi Labs backing, but its multi-mode interface can feel complex. Both platforms accept USDC as collateral and use 1-hour funding intervals.
Choose Hyperliquid if you prioritize deep liquidity, tight spreads, and a proven on-chain orderbook experience. Choose Aster if you want access to tokenized stock perps, a wider selection of 302 markets, or need ultra-high leverage beyond 50x.
