Hyperliquid vs Velocity
Detailed side-by-side comparison of features, fees, and trading experience
| FEATURE | HYPERLIQUID | VELOCITY |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.045% | 0.06% |
| Maker Fee | 0.015% | -0.0025% |
| Max Leverage | 50x | 20x |
| Perp Pairs | 330 | 4 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.8 | 2.5 |
Hyperliquid vs Velocity: key differences
Velocity is still in recovery after a security incident. Read the status notice in the Velocity review before depositing.
Opening and closing a $10,000 position with market orders costs $9.00 on Hyperliquid and $12.00 on Velocity at base-tier taker fees, a difference of $3.00 per round trip.
For limit orders, Hyperliquid charges makers 0.015%, while Velocity pays makers a 0.0025% rebate.
Hyperliquid allows up to 50x leverage against 20x on Velocity. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Hyperliquid lists 330 perpetual markets, Velocity lists 4.
Hyperliquid also has spot trading; Velocity is perpetuals only.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC, HYPE, BTC on Hyperliquid and in USDT, SOL, wBTC, wETH on Velocity.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Hyperliquid | Velocity | |
|---|---|---|
| Taker round trip on $10,000 | $9.00 | $12.00 |
| Maker round trip on $10,000 | $3.00 | $0.50 rebate |
| Best-tier taker fee | 0.024% | 0.02% |
| BTC max leverage | 40x | 20x |
| Margin modes | cross, isolated | cross-margin |
| 24h volume | $2.3B | — |
| TVL | $7.3B | $343M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC, HYPE, BTC | USDT, SOL, wBTC, wETH |
| Deposit networks | Arbitrum, Ethereum, Base +10 more | Solana |
| Minimum order | $10 | — |
| Order types | 16 | 11 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | Yes | No |
| Vaults or copy trading | Yes | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 6 | — |
| Founded | 2022 | 2021 |
Choose Hyperliquid if
- You mostly use market orders: 0.045% taker fee against 0.06% on Velocity.
- You want higher leverage: up to 50x against 20x.
- You trade smaller or newer markets: 330 perpetual pairs against 4.
- You want spot and perpetuals in one account.
Choose Velocity if
- You have read its recovery status first: users affected by the earlier incident have not been made whole.
- You place limit orders: makers earn a 0.0025% rebate.
- You want a sign-up discount: 5% 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
Velocity
PROS
- + Trading is open again: the public beta has been available to all users since September 21, 2026, with BTC, ETH and SOL perpetuals at up to 20x leverage and HYPE at up to 10x
- + Makers receive a 0.0025% rebate on post-only orders at every volume tier, and the taker fee falls from 0.06% to 0.02% above 200 million dollars in 30-day volume
- + One cross-margin account accepts USDT, SOL, wBTC and wETH as collateral, and deposits earn lending interest while they back positions
CONS
- − About 286 million dollars was stolen on April 1, 2026 through compromised administrator keys, and verified user losses are about 295.4 million dollars
- − Affected users have recovered about 1 percent so far: each DFX recovery token redeemed for about 0.0104 USDT from a 3.11 million USDT pool in early October 2026
- − The relaunched exchange lists four perpetual markets, down from more than 40 before the exploit, and spot order book trading was removed
Frequently Asked Questions
Is Hyperliquid or Velocity better?
Hyperliquid has a higher rating (4.8 vs 2.5). Hyperliquid offers lower fees (0.045% vs 0.06%). Choose Hyperliquid for lower fees, and Velocity for its features.
What are the fees on Hyperliquid vs Velocity?
Hyperliquid charges 0.045% taker / 0.015% maker. Velocity charges 0.06% taker / -0.0025% maker for perpetuals.
Which has higher leverage, Hyperliquid or Velocity?
Hyperliquid offers up to 50x (40x on BTC), and Velocity offers up to 20x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Hyperliquid and Velocity require KYC?
Hyperliquid does not require KYC. Velocity does not require KYC. Both restrict some jurisdictions (Hyperliquid lists 6; Velocity publishes no list we could verify), so check the terms of service for your country before depositing.
Is Hyperliquid or Velocity safer?
Hyperliquid has been audited and runs an insurance fund, and custody is non-custodial. Velocity 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.