Side-by-side comparison of two perpetual futures exchanges — updated in real time.
Hyperliquid and Hotstuff both run their own L1 blockchains with on-chain orderbooks, but Hyperliquid is the established market leader while Hotstuff is an early-stage challenger with mixed crypto/TradFi markets.
Hyperliquid operates its proven L1 with 190+ crypto markets, 50x leverage, and 0.015% maker / 0.045% taker fees. It dominates with 71% of DEX perp volume. Hotstuff runs a newer L1 with DracoBFT consensus (200K+ TPS, 150ms finality) and lists 15 markets across crypto, commodities, forex, and pre-launch assets like SpaceX. Both offer zero gas fees and USDC collateral. Hotstuff adds portfolio margin and hedged position mode (simultaneous long/short). Hyperliquid has deep liquidity and a live HYPE token (76.2% community), while Hotstuff is in alpha with a points program and no token yet. Hotstuff is backed by Delphi Ventures and angel investors from 1inch and Gnosis.
Choose Hyperliquid for proven liquidity, 190+ crypto markets, and a mature ecosystem. Choose Hotstuff if you want early access to a pre-token L1 with mixed asset classes (commodities, forex, SpaceX) and portfolio margin features.
