Hyperliquid vs StandX
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | HYPERLIQUID | STANDX |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.045% | 0.04% |
| Maker Fee | 0.015% | 0.01% |
| Max Leverage | 50x | 40x |
| Perp Pairs | 330 | 13 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.8 | 3.5 |
Hyperliquid vs StandX: key differences
Opening and closing a $10,000 position with market orders costs $8.00 on StandX and $9.00 on Hyperliquid at base-tier taker fees, a difference of $1.00 per round trip.
For limit orders, Hyperliquid charges makers 0.015%, while StandX charges makers 0.01%.
Hyperliquid allows up to 50x leverage against 40x on StandX. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Hyperliquid lists 330 perpetual markets, StandX lists 13.
Hyperliquid also has spot trading; StandX is perpetuals only.
Hyperliquid is the more liquid venue, with $2.3B in 24-hour volume against $322M on StandX (about 7.2 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 DUSD on StandX.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Hyperliquid | StandX | |
|---|---|---|
| Taker round trip on $10,000 | $9.00 | $8.00 |
| Maker round trip on $10,000 | $3.00 | $2.00 |
| Best-tier taker fee | 0.024% | 0.04% |
| BTC max leverage | 40x | 40x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $2.3B | $322M |
| TVL | $7.3B | $26M |
| Custody | non-custodial | hybrid |
| Collateral | USDC, HYPE, BTC | DUSD |
| Deposit networks | Arbitrum, Ethereum, Base +10 more | BNB Chain, Solana |
| Minimum order | $10 | — |
| Order types | 16 | 7 |
| Options | No | No |
| Mobile app | Yes | No |
| Testnet or demo | Yes | No |
| Vaults or copy trading | Yes | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 6 | 35 |
| Founded | 2022 | 2024 |
Choose Hyperliquid if
- You want higher leverage: up to 50x against 40x.
- You trade smaller or newer markets: 330 perpetual pairs against 13.
- You trade size and need liquidity: $2.3B in 24-hour volume against $322M.
- You want spot and perpetuals in one account.
- You trade from a phone: Hyperliquid has a mobile app.
- You want to post margin in more than one asset.
Choose StandX if
- You mostly use market orders: 0.04% taker fee against 0.045% on Hyperliquid.
- You place limit orders: 0.01% maker fee against 0.015% on Hyperliquid.
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
StandX
PROS
- + Flat fees of 0.01% maker and 0.04% taker on all 13 markets, confirmed by both the StandX fee page and the public API
- + Margin is held in DUSD, which earns yield from staking and funding payments while it sits in the Perps Wallet, with no staking step
- + Up to 40x leverage on BTC, ETH, gold (XAU), silver (XAG), and crude oil (CL), with cross and isolated margin modes
CONS
- − Only 13 perpetual markets as of October 4, 2026, and no spot trading
- − DUSD is the only collateral, and redeeming it for USDT or USDC through StandX has a 7-day lock and a protocol fee; the faster exit is a swap on PancakeSwap or Raydium at the market price
- − 24-hour volume of about 322 million dollars against open interest of about 44 million dollars (CoinGecko, October 4, 2026) is a ratio above 7 to 1 while a points program rewards trading, and the StandX docs still cite roughly 700 million dollars of daily volume
Frequently Asked Questions
Is Hyperliquid or StandX better?
Hyperliquid has a higher rating (4.8 vs 3.5). StandX offers lower fees (0.04% vs 0.045%). Choose Hyperliquid for higher leverage, and StandX for lower fees.
What are the fees on Hyperliquid vs StandX?
Hyperliquid charges 0.045% taker / 0.015% maker. StandX charges 0.04% taker / 0.01% maker for perpetuals.
Which has higher leverage, Hyperliquid or StandX?
Hyperliquid offers up to 50x (40x on BTC), and StandX offers up to 40x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Hyperliquid and StandX require KYC?
Hyperliquid does not require KYC. StandX does not require KYC. Both restrict some jurisdictions (Hyperliquid lists 6; StandX lists 35), so check the terms of service for your country before depositing.
Is Hyperliquid or StandX safer?
Hyperliquid has been audited and runs an insurance fund, and custody is non-custodial. StandX has been audited and runs an insurance fund, and custody is hybrid. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, Hyperliquid or StandX?
Hyperliquid recorded $2.3B in 24-hour volume and StandX recorded $322M, as of 2026-10-04. Hyperliquid lists 330 perpetual markets and StandX lists 13.