Side-by-side comparison of two perpetual futures exchanges — updated in real time.
Hyperliquid and Gains Network target different market segments. Hyperliquid dominates crypto perp trading with its L1 orderbook, while Gains Network offers the widest asset coverage including forex, stocks, and commodities at up to 1000x leverage.
Hyperliquid operates a fully on-chain orderbook on Hyperliquid L1 with 190 crypto markets, 50x max leverage, and fees of 0.015% maker / 0.045% taker. Gains Network, one of the oldest perp DEXes (launched October 2021), deploys across Arbitrum, Polygon, and Base with a peer-to-pool AMM model. Gains Network's standout feature is its 290 markets spanning crypto (150x leverage), forex (1000x), stocks, commodities, and indices — the widest asset coverage in DeFi. However, this breadth comes with higher fees: 0.05% for both maker and taker. Gains Network accepts USDC and DAI as collateral. The GNS token was fair-launched with no VC funding, and 54% of protocol fees go to buyback and burn, making it deflationary. Hyperliquid's HYPE token has a 76.2% community allocation. For pure crypto perpetual trading, Hyperliquid offers deeper liquidity and lower fees. For traders wanting diversified asset exposure beyond crypto, Gains Network is uniquely positioned.
Choose Hyperliquid for the deepest crypto perp liquidity, lower fees, and a native orderbook experience. Choose Gains Network if you want to trade forex, stocks, or commodities alongside crypto, or need leverage up to 1000x on forex pairs.
