GMX vs Hyperliquid
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | GMX | HYPERLIQUID |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.06% | 0.045% |
| Maker Fee | 0.04% | 0.015% |
| Max Leverage | 100x | 50x |
| Perp Pairs | 87 | 311 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.5 | 4.8 |
GMX
PROS
- + Low dynamic perpetual trading fees starting at 0.04% for balance-improving trades, reduced from 0.05% in January 2025
- + Up to 100x leverage on BTC, ETH, and other major perpetual pairs with isolated margin
- + Multichain deployment across 8 networks including Arbitrum, Avalanche, Ethereum, Base, and Solana
CONS
- − US users are geo-restricted at the frontend level, along with several sanctioned countries
- − No native mobile app — requires third-party wallet dApp browsers for mobile trading
- − Dynamic fee model (0.04%-0.06%) can be less predictable than fixed-fee exchanges
Hyperliquid
PROS
- + Low perpetuals taker fee of 0.045% at base tier, reducing to 0.024% at VIP 6 ($7B+ volume), with up to 40% additional discount for HYPE stakers
- + Up to 40x leverage on BTC perpetuals (25x on ETH, 20x on SOL), with cross, isolated, and strict isolated margin modes
- + No KYC required — fully non-custodial trading by connecting any EVM-compatible wallet, with complete onchain transparency
CONS
- − Only USDC as primary perpetuals collateral — multi-collateral (uBTC, uETH, uSOL) requires third-party tokenization via Hyperunit
- − Restricted in the US, Russia, Cuba, Iran, North Korea, and Syria — frontend blocks restricted IP addresses
- − No official mobile app — any app store listing claiming to be Hyperliquid is a scam per official support documentation
Frequently Asked Questions
Is GMX or Hyperliquid better?
Hyperliquid has a higher rating (4.8 vs 4.5). Hyperliquid offers lower fees (0.045% vs 0.06%). Choose GMX for higher leverage, and Hyperliquid for lower fees.
What are the fees on GMX vs Hyperliquid?
GMX charges 0.06% taker / 0.04% maker. Hyperliquid charges 0.045% taker / 0.015% maker for perpetuals.