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Hyperliquid vs GMX v2

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

Metric

Chain

Hyperliquid L1

Arbitrum

Type

Orderbook

Oracle

24h Volume

$6.88B

$236M

Open Interest

$5.73B

$80.2M

Maker Fee

0.015%

0.040%

Taker Fee

0.045%

0.060%

Max Leverage

50×

100×

Markets

190

113

Collateral

USDC

USDC, USDT, ETH, BTC

Funding Interval

1h

1h

Airdrop Status

$HYPE

$GMX

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

GMX v2 — Pros & Cons

Pros

Battle-tested protocol
Deep Arbitrum ecosystem
Isolated market pools reduce risk

Cons

Oracle dependency
Higher fees than orderbook DEXs
Complex LP mechanics

Trade on Hyperliquid →Trade on GMX v2 →

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