Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL
Trading| Provider | All-in cost | All-in at $100k | All-in at $1M |
|---|---|---|---|
| gains.trade | 0.040% | 0.043% | 0.043% |
| Hyperliquid | 0.046% | 0.047% | 0.057% |
gains.trade vs Hyperliquid
gains.trade leads on 6 of 7 shared benchmarks, Hyperliquid on 1. gains.trade wins on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL (0.040% vs 0.046%), Most tradable markets on a perp DEX, live count across 14 venues (360 vs 177), Perp DEX cost invariance (1.000x vs 1.202x), Perp DEX mark price fidelity (0.016% vs 0.062%). Hyperliquid wins on Perp DEX volume share, live 24h notional ranked ($8.09B vs $36.39M).
gains.trade
Perp DEX on Polygon, Arbitrum, Base and Solana. Pool-based execution against the gToken vaults, oracle-priced trades with synthetic leverage.
Hyperliquid
Onchain perp DEX on the Hyperliquid L1. Fully onchain orderbook with sub-second matching, no off-chain matching engine.
Side by side measurements
Perp DEX volume share, live 24h notional ranked
Tradinggains.trade
Trails$36.39M
- p99
- $46.95M
- rank
- #12
- samples
- 2,879
Hyperliquid
Leads$8.09B
- p99
- $12.07B
- rank
- #1
- samples
- 2,879
Most tradable markets on a perp DEX, live count across 14 venues
Tradinggains.trade
Leads360
- p99
- 360
- rank
- #2
- samples
- 2,879
Hyperliquid
Trails177
- p99
- 177
- rank
- #8
- samples
- 2,879
Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked
Trading| Provider | Cost slope ($1M / $1k) | $1M fill rate |
|---|---|---|
| gains.trade | 1.000x | 100.0% |
| Hyperliquid | 1.202x | 66.3% |
Perp DEX mark price fidelity: deviation from CEX spot reference, live
Tradinggains.trade
Leads0.016 %
- p99
- 0.045%
- rank
- #1
- samples
- 2,879
Hyperliquid
Trails0.062 %
- p99
- 0.097%
- rank
- #5
- samples
- 2,879
Per chain
| Chain | gains.trade | Hyperliquid |
|---|---|---|
| ETH | 0.013% | 0.031% |
| BTC | 0.016% | 0.061% |
| SOL | 0.016% | 0.053% |
Perp DEX security track record: days without a recorded exploit, live
Tradinggains.trade
Leads1,727
- p99
- 1,727
- rank
- #1
- samples
- 2,879
Hyperliquid
Trails1,027
- p99
- 1,027
- rank
- #5
- samples
- 2,879
This benchmark counts recorded incidents only. Absence from the registry does not prove a protocol is exploit-free: it means no incident matching the criteria (direct theft or loss of user funds via a security vulnerability) has been documented in the tracked sources as of the registry timestamp shown on each row. The registry is human-curated and updated when a new incident is confirmed. The registry date and source links are embedded in the harness.
Perp DEX asset breadth: non-crypto markets live, forex + stocks + indices + commodities
Tradinggains.trade
Leads110
- rank
- #1
Hyperliquid
No data in window
Market count reflects the Mobula perp pairs catalog at query time. Only mainnet markets are counted (testnets excluded). Asset class tags (forex, stocks, indices, commodities) are assigned by Mobula's editorial taxonomy and updated when new pairs are listed. Venues not in the Mobula catalog (Hyperliquid, GMX, dYdX, Ostium, Vertex, Paradex, Aster) are monitored separately: their catalogs are crypto-only or verified crypto-only by native API.
Perp DEX capital efficiency: active markets per $M TVL, live
Tradinggains.trade
Leads38
- p99
- 38
- rank
- #1
- samples
- 2,879
Hyperliquid
Trails0.027
- p99
- 0.027
- rank
- #4
- samples
- 2,879
TVL from DefiLlama /protocol/{slug} currentChainTvls, excluding staking and pool2 categories. Market count from each venue's native API (same source as the perp-active-markets bench). The ratio reflects architectural choices, not absolute liquidity: a high ratio means the venue can list many markets cheaply, not that each market has deep liquidity. Compare with perp-open-interest for the liquidity angle.
Perp DEX liquidation rate: 24h liquidated notional as % of open interest, live
Tradinggains.trade
No data in window
Hyperliquid
Trails0.77 %
- p99
- 2.27%
- rank
- #3
- samples
- 2,880
Frequently asked questions
gains.trade vs Hyperliquid: which one is better?
gains.trade and Hyperliquid are compared on 9 shared OpenChainBench benchmarks. gains.trade leads on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL. Hyperliquid leads on Perp DEX volume share, live 24h notional ranked. See the live table on this page for every metric.
Which is cheaper, gains.trade or Hyperliquid?
On the Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL benchmark, gains.trade leads at 0.040% versus Hyperliquid at 0.046%. Live measurement is updated continuously by the OpenChainBench harness.
Which is cheaper, gains.trade or Hyperliquid?
On the Perp DEX volume share, live 24h notional ranked benchmark, Hyperliquid leads at $8.09B versus gains.trade at $36.39M. Live measurement is updated continuously by the OpenChainBench harness.
How is the gains.trade vs Hyperliquid comparison measured?
Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.
Related comparisons
How this pair was selected
Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing — panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.