Side-by-side comparison of two perpetual futures exchanges — updated in real time.
Hyperliquid and Jupiter Perps operate on completely different models — Hyperliquid uses an on-chain orderbook on its own L1, while Jupiter leverages oracle-based pricing on Solana with the JLP pool as counterparty.
These two platforms represent fundamentally different trading architectures. Hyperliquid's orderbook on Hyperliquid L1 supports 190 markets with price discovery happening directly between traders, resulting in tighter spreads for liquid pairs. Jupiter Perps, integrated into Solana's largest aggregator, uses oracle pricing and trades against the JLP liquidity pool. Jupiter lists only 10 major pairs but benefits from Solana's massive user base and simple UX. On fees, Hyperliquid charges 0.015% maker / 0.045% taker, while Jupiter has no maker fee and a 0.06% taker fee. Jupiter offers higher leverage at 100x compared to Hyperliquid's 50x. Both accept USDC as collateral, with Jupiter also accepting SOL. The JLP pool model means Jupiter traders face no slippage on supported pairs, but the pool's capacity is finite. Hyperliquid's orderbook handles larger positions more gracefully through its natural price discovery mechanism.
Choose Hyperliquid if you trade across many markets, want an orderbook experience with organic price discovery, or routinely take larger positions. Choose Jupiter Perps if you're already in the Solana ecosystem, prefer simplicity, or want zero-slippage oracle execution on major pairs.
