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Home/Compare/Hyperliquid vs dYdX

Hyperliquid vs dYdX

Side-by-side comparison of two perpetual futures exchanges — updated in real time.

Metric
Hyperliquid
Hyperliquid
dYdX
dYdX
Chain
Hyperliquid L1
dYdX Chain
Type
Orderbook
Orderbook
24h Volume
$6.88B
$195M
Open Interest
$5.73B
$58.2M
Maker Fee
0.015%
-0.011%
Taker Fee
0.045%
0.030%
Max Leverage
50×
25×
Markets
190
188
Collateral
USDC
USDC
Funding Interval
1h
1h
Airdrop Status
$HYPE
$DYDX

Hyperliquid — Pros & Cons

Pros

  • Deep liquidity and tight spreads
  • Sub-second finality on native L1
  • Zero gas fees for trading

Cons

  • Single-chain ecosystem
  • Centralized sequencer
  • Limited DeFi composability

dYdX — Pros & Cons

Pros

  • Own sovereign L1 chain
  • 188 markets
  • Maker rebates
  • DYDX token live

Cons

  • Volume has declined vs competitors
  • Cosmos chain less accessible
  • Complex bridging
Trade on Hyperliquid →Trade on dYdX →

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