Hyperliquid vs Paradex
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | HYPERLIQUID | PARADEX |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0.045% | 0% |
| Maker Fee | 0.015% | 0% |
| Max Leverage | 40x | 50x |
| Perp Pairs | 369 | 76 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.8 | 4.5 |
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
Paradex
PROS
- + Zero trading fees for retail users — 0% maker and 0% taker — across all 76 perpetual futures markets; professional and API takers pay just 0.02%
- + Privacy-preserving trading via zk-encrypted accounts hides positions, entries, exits, and PnL from public view, preventing MEV and liquidation sniping
- + 2,200+ markets from one unified USDC account: 76 crypto and RWA perps (including GOOGL, MSTR, silver, and oil), 2,100+ options, and spot
CONS
- − USDC-only collateral — no multi-collateral support, limiting flexibility for traders holding other assets
- − Restricted for US and Canadian persons and sanctioned jurisdictions; VPN circumvention is explicitly prohibited in the Terms of Service
- − Spot trading is limited to just two pairs (ETH and DIME) — the venue is overwhelmingly perps- and options-focused
Frequently Asked Questions
Is Hyperliquid or Paradex better?
Hyperliquid has a higher rating (4.8 vs 4.5). Paradex offers lower fees (0% vs 0.045%). Choose Hyperliquid for its features, and Paradex for lower fees.
What are the fees on Hyperliquid vs Paradex?
Hyperliquid charges 0.045% taker / 0.015% maker. Paradex charges 0% taker / 0% maker for perpetuals.