Hyperliquid Reviews
Perpetual DEX on its own layer 1 with a fully on-chain order book, 170+ markets and CEX-level fees — no KYC, but no EU authorisation either.
Hyperliquid Rating
Our Opinion
Hyperliquid is the reference point among perpetual DEXs. Trading runs through an order book held entirely on-chain on a purpose-built layer 1 rather than through an AMM pool, which in practice delivers execution close to a centralised exchange while custody stays with the user.
Entry-tier fees are 0.015% maker and 0.045% taker and fall further across volume tiers; staking HYPE reduces them again. No network fees apply on the native layer 1. Leverage is tiered by market — up to 40x on Bitcoin and considerably lower on smaller markets.
The regulatory picture is straightforward: Hyperliquid holds no EU authorisation, and perpetuals sit outside MiCA in any case. There is no withholding at source, so tax reporting rests entirely with the user. The platform suits experienced traders who weight self-custody and execution quality above regulatory protection.
Pros & Cons
- Order book held fully on-chain on a purpose-built layer 1
- CEX-level fees from 0.015% maker / 0.045% taker
- No network fees on trades
- 170+ perpetual markets with order types including TWAP
- Self-custody, no mandatory KYC
- No EU authorisation and no regulated counterparty
- Support runs through community channels only
- Leverage is capped tightly on smaller markets — headline figures apply to major markets only
- Tax reporting rests entirely with the user
User Experiences
AI AnalysisOur AI collects and analyzes user reviews of Hyperliquid from the web and summarizes the key findings.
The interface follows classic futures terminals and assumes working knowledge of margin, funding and liquidation prices. Access is by wallet connection with no registration step. As of August 2026.
Editorial assessment based on publicly documented provider information and independent industry sources. As of August 2026. Perpetual contracts are leveraged products carrying a high risk of loss. This comparison is not investment or tax advice. All information without guarantee.
Features
Highlights
- Largest perpetual DEX by trading volume
- Purpose-built layer 1 rather than a rollup dependency
- Fee discount through HYPE staking
- TWAP orders available to retail users
Tradeable Assets
- 170+ perpetual contracts
- Spot markets on the native layer 1
- USDC as collateral
Trading Options
- Market and limit orders
- Stop-loss and take-profit
- TWAP execution
- Isolated and cross margin
About Hyperliquid
Compare Hyperliquid
Recent articles about Hyperliquid
October 3, 2026 7:13 AM
Hyperliquid Price Prediction: Team Hands 3.75 Million HYPE to a Single Large Investor
Hyperliquid Labs is unstaking 3.75 million HYPE, around $329 million, and selling them over the counter to a single investor. The price stands 10 percent below the record of September 23. What the sale means and which levels count.
September 29, 2026 7:13 AM
700 million HYPE sit outside circulation as the September 29 unlock approaches
Several data services list a fresh HYPE release for September 29, yet their figures range from 330,000 to 14.18 million tokens. Our own count of the holdings shows where that spread comes from and which part of HYPE is not in circulation at all.
September 24, 2026 1:24 PM
NEAR Falls Almost 8 Percent After a 62 Percent Week: What to Check on Perps, Buying Route and Holding Period
NEAR Protocol loses up to 7.9 percent on September 24, 2026 and is still more than 55 percent higher over the week. The rally was carried by a confidential perp offering via Hyperliquid, which raises questions of its own on buying route, leverage and holding period in Germany.
September 18, 2026 10:29 PM
NEAR Jumps 21 Percent: What to Check on the NEAR@3.33 Incentive Programme and the New Perps
NEAR rose to $3.68 on September 18, 2026, after near.com launched confidential perpetuals and set off an incentive programme with a price condition. What is documented, what 40x leverage means and what applies to you in Germany.
September 18, 2026 10:20 PM
Hyperliquid at a Record High: What Is Behind the HYPE Jump Above $90 and What to Check Before Buying
HYPE, the token of the trading platform Hyperliquid, has set a new all-time high at $92.56. The trigger is a new lending function. What is behind it, what risks the rise brings and what you should check from Germany before buying.
September 15, 2026 9:20 AM
Crypto Price Today: Bitcoin Stuck Near $77,000 as the Fed and the CLARITY Act Collide
Crypto prices barely moved today, but two events this week decide the next leg: the Senate CLARITY Act vote and a Fed meeting priced for a rate hike.
September 15, 2026 4:12 AM
Using Hyperliquid from Germany: What Applies to Your Funds Without a MiCA Licence
Hyperliquid is not entered in any EU register as an authorised crypto-asset service provider, and for perpetual futures a MiCA licence would be the wrong paperwork anyway. Here is what that means in concrete terms for your funds, your keys and your tax return.
Similar articles on this topic
October 1, 2026 4:21 AM
Velocity Replaces Drift After the 285 Million Dollar Hack: What Changes for Investors in Germany
The Solana perp DEX Drift is back as Velocity, and since September 29, 2026 a new team has been running it. What the overhaul after the outflow of 285 million dollars means for your deposits, for settlement in USDT and for the legal position in Germany.
September 30, 2026 10:13 PM
Robinhood Announces Perp Futures With 10x Leverage for US Customers: “Markets don’t work without traders”
Robinhood plans to offer eligible US customers perpetual futures on eight cryptocurrencies, with up to 10x leverage on Bitcoin and Ethereum. Nothing is tradable yet, and a different leverage cap applies in Europe.
September 30, 2026 4:25 PM
Shiba Inu price 4.9 percent below the month high: Why SHIB is falling
Shiba Inu trades at $0.00000581 on Wednesday afternoon, 4.9 percent below the high of September 23, even though the coin is up 17.0 percent over 30 days. The reasons are not in the chart but in the network data and in the cost structure of trading.
September 26, 2026 1:11 AM
Funding Rate on Perpetual Futures: How to Calculate What Your Position Really Costs
A rate of 0.01 percent per interval sounds like nothing and works out at almost 11 percent of the notional value over a year. This guide walks through the calculation, the timestamp effect and the way leverage multiplies the burden.
September 24, 2026 1:13 AM
Solana DEX Trades Overtake the NYSE: What to Check on Swaps, Tax and Oversight
Solana's decentralised exchanges settled roughly 208 million trades in a single week and overtook the New York Stock Exchange for the first time. The figure is real, but it measures something other than the comparison suggests, and for German investors it carries tax duties that no provider takes on.
September 21, 2026 4:24 PM
Jupiter Rises: Money Is Rotating Back Into Solana DeFi
Solana gains 7.6 percent, the trading aggregator Jupiter 13 percent. When applications rise faster than the chain, capital is looking for leverage inside the ecosystem. What sits behind it and where the risk lies.
September 19, 2026 1:38 AM
Uniswap jumps above $9: what UNI holders should check on the fee switch now
The UNI price gains 18.67 percent within 24 hours, driven by the active fee switch and a new exemption from the US securities regulator. What of that can be recalculated, what remains pure expectation, and which three things you should settle now as an investor in Germany.
September 18, 2026 10:20 PM
Hyperliquid at a Record High: What Is Behind the HYPE Jump Above $90 and What to Check Before Buying
HYPE, the token of the trading platform Hyperliquid, has set a new all-time high at $92.56. The trigger is a new lending function. What is behind it, what risks the rise brings and what you should check from Germany before buying.