Hyperliquid
9.5
- Decentralized
- Great for leverage
- Low fees
4% discount on your fees
4% discount on your fees
Hyperliquid is a decentralized perpetuals exchange that launched in late 2023. It was created by an anonymous team with a strong background in trading systems and smart contracts. The platform runs on its own custom Layer 1 blockchain, which is optimized for high-speed and low-latency trading — something that’s rare in the decentralized space.
Instead of relying on Ethereum or a Layer 2 solution, Hyperliquid built its own chain. This gives it more control over transaction speed and user experience. One standout feature is that users don’t need external wallets like MetaMask. Hyperliquid gives you an in-browser wallet when you create an account, making the onboarding much faster and simpler.
The platform also made headlines with its generous airdrops. Early users who actively traded or held funds on the platform were rewarded with HYPE tokens — the native governance and utility token for the ecosystem. These airdrops helped build loyalty and attract thousands of new users. It became a small success story in a market where many other projects struggled to grow.
Hyperliquid is focused only on perpetual contracts. There is no spot trading for now. All trades are denominated in USDC, which is used for margin and settlement. Some of the popular trading pairs include:
More pairs are added regularly. All of them can be traded with leverage.
Hyperliquid is a permissionless DEX, so it can be accessed from most countries without any KYC. There is no registration or identity verification process. However, as with many decentralized platforms, it officially restricts usage from a few jurisdictions like:
Users are responsible for knowing and complying with local laws. The platform does not enforce geo-blocking, but it shows a disclaimer for restricted regions.
Creating an account on Hyperliquid is fast and simple. Here’s how it works:
The wallet works only inside Hyperliquid’s interface, which makes the experience more like a centralized exchange, but with the benefits of DeFi. You can also import an existing wallet if you prefer.
Hyperliquid has become popular among serious crypto traders, especially those who are looking for speed, leverage, and low fees. Many former users of dYdX, GMX, and Binance Futures have started using Hyperliquid.
The user base includes:
Weekly competitions and high rewards for leaderboard positions make the platform more attractive to active traders.
Hyperliquid uses its own blockchain, so you can’t deposit directly from Ethereum or another chain without using their bridge. Here’s how you move funds:
There are no gas fees when trading on the Hyperliquid chain. However, the initial bridge from Ethereum requires a normal gas fee.
Security is always important in DeFi. Hyperliquid uses several mechanisms to keep user funds safe:
There is no insurance fund like on some centralized exchanges, so losses from liquidation or exploits are final. Still, no major security incidents have been reported so far.
It’s also worth noting that the private key is stored in-browser if you don’t export it. You must back it up safely.
There is currently no standalone mobile app for Hyperliquid, but the website is fully responsive and works well in mobile browsers. You can trade, bridge funds, and manage your account from your phone.
A native app is rumored to be in development, but no release date has been announced yet.
Until then, mobile trading is still possible with the browser version.
No, Hyperliquid is a decentralized perpetuals exchange.
Hyperliquid is a layer one blockchain (L1)
MetaMask, Trust, Rabby and Uniswap Extension all support Hyperliquid
I'm Marten, a crypto nerd and tech writer who’s been deep into blockchain since 2015. I started with Bitcoin trading and later got into Ethereum and smart contracts. Over the years, I’ve tested all kinds of platforms, from DeFi tools and P2P betting sites to Web3 apps. On kryptium.co, I write simple and honest articles to help people understand what’s happening in crypto. I focus on real stuff: how things work, what tools are worth using, and what to watch out for. My background in software development helps me break down complex topics so others can actually use the info. I believe in open, decentralized systems and think crypto should be easier to understand, even for beginners. That’s what I try to do with every post I publish.