Hyperliquid vs Extended
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | HYPERLIQUID | EXTENDED |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.045% | 0.025% |
| Maker Fee | 0.015% | 0% |
| Max Leverage | 50x | 100x |
| Perp Pairs | 330 | 326 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.8 | 4.1 |
Hyperliquid vs Extended: key differences
Opening and closing a $10,000 position with market orders costs $5.00 on Extended and $9.00 on Hyperliquid at base-tier taker fees, a difference of $4.00 per round trip.
For limit orders, Hyperliquid charges makers 0.015%, while Extended charges makers nothing.
Extended allows up to 100x leverage against 50x on Hyperliquid. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Hyperliquid lists 330 perpetual markets, Extended lists 326.
Hyperliquid is the more liquid venue, with $2.3B in 24-hour volume against $181M on Extended (about 13 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 USDC, HYPE, BTC on Hyperliquid and in USDC, USDT, wBTC, ETH +1 more on Extended.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Hyperliquid | Extended | |
|---|---|---|
| Taker round trip on $10,000 | $9.00 | $5.00 |
| Maker round trip on $10,000 | $3.00 | $0 |
| Best-tier taker fee | 0.024% | 0.025% |
| BTC max leverage | 40x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $2.3B | $181M |
| TVL | $7.3B | $122M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC, HYPE, BTC | USDC, USDT, wBTC, ETH +1 more |
| Deposit networks | Arbitrum, Ethereum, Base +10 more | Starknet, Ethereum, Arbitrum +5 more |
| Minimum order | $10 | $10 |
| Order types | 16 | 7 |
| Options | No | No |
| Mobile app | Yes | No |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | Yes | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 6 | 13 |
| Founded | 2022 | 2024 |
Choose Hyperliquid if
- You trade smaller or newer markets: 330 perpetual pairs against 326.
- You trade size and need liquidity: $2.3B in 24-hour volume against $181M.
- You trade from a phone: Hyperliquid has a mobile app.
Choose Extended if
- You mostly use market orders: 0.025% taker fee against 0.045% on Hyperliquid.
- You place limit orders: 0% maker fee against 0.015% on Hyperliquid.
- You want higher leverage: up to 100x against 50x.
- You want a sign-up discount: 10% off fees through a referral link.
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
Extended
PROS
- + 326 active perpetual markets: 195 crypto and 131 real-world asset markets, including 112 equities plus gold, oil, FX and stock indices
- + 0% maker fee and 0.025% taker fee on crypto markets, 0.010% taker fee on RWA markets, and maker rebates up to 0.010% for a 30-day market share of 5% or more
- + Multi-asset collateral: USDC counts at 100% of its value toward margin, USDT at 95%, and wBTC, ETH and XVS vault shares at 90%
CONS
- − Restricted in the United States, United Kingdom, Canada, Russia, Hong Kong, Seychelles and sanctioned countries (Cuba, Iran, North Korea, Syria); the Terms of Use forbid using a VPN to bypass this
- − BTC and ETH leverage is capped at 50x, and the 100x maximum applies only to the EUR/USD market
- − TVL of about 122 million dollars and 24-hour volume of about 181 million dollars are well below the largest perp DEXes, which means less depth for large orders
Frequently Asked Questions
Is Hyperliquid or Extended better?
Hyperliquid has a higher rating (4.8 vs 4.1). Extended offers lower fees (0.025% vs 0.045%). Choose Hyperliquid for its features, and Extended for lower fees.
What are the fees on Hyperliquid vs Extended?
Hyperliquid charges 0.045% taker / 0.015% maker. Extended charges 0.025% taker / 0% maker for perpetuals.
Which has higher leverage, Hyperliquid or Extended?
Hyperliquid offers up to 50x (40x on BTC), and Extended offers up to 100x (50x on BTC). Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Hyperliquid and Extended require KYC?
Hyperliquid does not require KYC. Extended does not require KYC. Both restrict some jurisdictions (Hyperliquid lists 6; Extended lists 13), so check the terms of service for your country before depositing.
Is Hyperliquid or Extended safer?
Hyperliquid has been audited and runs an insurance fund, and custody is non-custodial. Extended 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, Hyperliquid or Extended?
Hyperliquid recorded $2.3B in 24-hour volume and Extended recorded $181M, as of 2026-10-04. Hyperliquid lists 330 perpetual markets and Extended lists 326.