GRVT vs Hyperliquid
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | GRVT | HYPERLIQUID |
|---|---|---|
| Type | HYBRID | DEX |
| Taker Fee | 0.045% | 0.045% |
| Maker Fee | -0.0001% | 0.015% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 184 | 330 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.5 | 4.8 |
GRVT vs Hyperliquid: key differences
Trading costs are level at the base tier: both charge a 0.045% taker fee, so opening and closing a $10,000 position with market orders costs $9.00 on either exchange.
For limit orders, GRVT pays makers a 0.0001% rebate, while Hyperliquid charges makers 0.015%.
Hyperliquid lists 330 perpetual markets, GRVT lists 184.
Hyperliquid is the more liquid venue, with $2.3B in 24-hour volume against $481M on GRVT (about 4.8 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDT, USDC on GRVT and in USDC, HYPE, BTC on Hyperliquid.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| GRVT | Hyperliquid | |
|---|---|---|
| Taker round trip on $10,000 | $9.00 | $9.00 |
| Maker round trip on $10,000 | $0.02 rebate | $3.00 |
| Best-tier taker fee | 0.024% | 0.024% |
| BTC max leverage | 50x | 40x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $481M | $2.3B |
| TVL | $34M | $7.3B |
| Custody | non-custodial | non-custodial |
| Collateral | USDT, USDC | USDC, HYPE, BTC |
| Deposit networks | Ethereum, Arbitrum, Base +4 more | Arbitrum, Ethereum, Base +10 more |
| Minimum order | $5 | $10 |
| Order types | 10 | 16 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 17 | 6 |
| Founded | 2022 | 2022 |
Choose GRVT if
- You place limit orders: makers earn a 0.0001% rebate.
- You want a sign-up discount: 20% off fees through a referral link.
Choose Hyperliquid if
- You trade smaller or newer markets: 330 perpetual pairs against 184.
- You trade size and need liquidity: $2.3B in 24-hour volume against $481M.
- You want to post margin in more than one asset.
GRVT
PROS
- + Negative maker fees on perpetuals across all nine tiers, from -0.0001% at Level 1 to -0.003% at Level 9, so makers receive a rebate on every filled limit order
- + Self-custodial with optional KYC: users can sign up with only an email and trade without identity verification while keeping control of their funds
- + 184 perpetual markets, including 98 equity and index markets and 8 commodity markets such as gold (XAU) and crude oil, with up to 50x leverage on BTC and ETH
CONS
- − Only USDT and USDC are accepted as collateral; unified multi-collateral margin is targeted for Q4 2026 in the GRVT litepaper
- − Spot trading is limited to two pairs (GRVT/USDT and USDC/USDT), and options and dated futures are not available
- − Leverage is capped at 10x on 172 of the 184 perpetual markets; 50x applies only to BTC and ETH positions under 600,000 USD notional
Hyperliquid
PROS
- + Perpetuals taker fee of 0.045% and maker fee of 0.015% at the base tier, falling to 0.024% taker and 0% maker above 7 billion USD in 14-day volume, with a further discount of up to 40% for HYPE stakers
- + Up to 40x leverage on BTC perpetuals, 25x on ETH and 20x on SOL, and up to 50x on HIP-3 FX pairs (EUR, JPY, GBP) and S&P 500 perpetuals
- + No KYC: trading starts after connecting a wallet or email login, funds stay in the user's own account, and every order and liquidation is recorded onchain
CONS
- − USDC is the default perpetuals collateral; HYPE and BTC count as collateral only under portfolio margin, which requires more than 10,000 USD in account value or 5 million USD in volume
- − Restricted in the United States, Ontario (Canada), Russia, Cuba, Iran, North Korea and Syria; the frontend blocks IP addresses from restricted locations
- − The official mobile app is Android only and was released in April 2026 as a limited MVP; there is no iOS app, so iPhone users rely on the web app
Frequently Asked Questions
Is GRVT or Hyperliquid better?
Hyperliquid has a higher rating (4.8 vs 4.5). Choose GRVT for its features, and Hyperliquid for its features.
What are the fees on GRVT vs Hyperliquid?
GRVT charges 0.045% taker / -0.0001% maker. Hyperliquid charges 0.045% taker / 0.015% maker for perpetuals.
Which has higher leverage, GRVT or Hyperliquid?
GRVT offers up to 50x, and Hyperliquid offers up to 50x (40x on BTC). Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do GRVT and Hyperliquid require KYC?
GRVT does not require KYC. Hyperliquid does not require KYC. Both restrict some jurisdictions (GRVT lists 17; Hyperliquid lists 6), so check the terms of service for your country before depositing.
Is GRVT or Hyperliquid safer?
GRVT has been audited and runs an insurance fund, and custody is non-custodial. Hyperliquid has been audited and runs an insurance fund, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, GRVT or Hyperliquid?
GRVT recorded $481M in 24-hour volume and Hyperliquid recorded $2.3B, as of 2026-10-04. GRVT lists 184 perpetual markets and Hyperliquid lists 330.