Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL
Trading| Provider | All-in at $100k | All-in at $1M |
|---|---|---|
| GMX | 0.060% | 0.060% |
| Hyperliquid | 0.047% | 0.051% |
GMX vs Hyperliquid
GMX leads on 1 of 4 shared benchmarks, Hyperliquid on 3. GMX wins on Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked (1.000x vs 1.087x). Hyperliquid wins on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL (0.046% vs 0.060%), Perp DEX mark price fidelity: deviation from CEX spot reference, live (0.038% vs 0.084%), Perp DEX security track record: days without a recorded exploit, live (1,014 vs 398).
GMX
Perp DEX on Arbitrum and Avalanche. Pool-based execution against GLP and GM vaults, oracle-priced trades with no orderbook.
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 cost invariance: all-in bps at $1M vs $1k, live slope ranked
Trading| Provider | $1M fill rate |
|---|---|
| GMX | 100.0% |
| Hyperliquid | 68.8% |
Perp DEX mark price fidelity: deviation from CEX spot reference, live
TradingGMX
Trails0.084 %
- p99
- 0.12%
- rank
- #6
- samples
- 5,760
Hyperliquid
Leads0.038 %
- p99
- 0.061%
- rank
- #1
- samples
- 5,760
Per chain
| Chain | GMX | Hyperliquid |
|---|---|---|
| ETH | 0.081% | 0.041% |
| BTC | 0.084% | 0.039% |
| SOL | 0.081% | 0.010% |
Perp DEX security track record: days without a recorded exploit, live
TradingGMX
Trails398
- p99
- 398
- rank
- #6
- samples
- 5,760
Hyperliquid
Leads1,014
- p99
- 1,014
- rank
- #5
- samples
- 5,760
Perp DEX asset breadth: non-crypto markets live, forex + stocks + indices + commodities
TradingGMX
No data in window
Hyperliquid
No data in window
Frequently asked questions
GMX vs Hyperliquid: which one is better?
GMX and Hyperliquid are compared on 5 shared OpenChainBench benchmarks. GMX leads on Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked. Hyperliquid leads on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL. See the live table on this page for every metric.
Which is faster on perp dex cost invariance: all-in bps at $1m vs $1k, live slope ranked, GMX or Hyperliquid?
On the Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked benchmark, GMX leads at 1.000x versus Hyperliquid at 1.087x. Live measurement is updated continuously by the OpenChainBench harness.
Which is faster on cheapest perp dex, live all-in cost from $1k to $1m on eth, btc and sol, GMX or Hyperliquid?
On the Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL benchmark, Hyperliquid leads at 0.046% versus GMX at 0.060%. Live measurement is updated continuously by the OpenChainBench harness.
How is the GMX 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.
How this pair was selected
A pair is published when all four conditions hold. Both providers run in the same OpenChainBench benchmark for at least seven consecutive days. Each provider has at least 1000 samples in the measurement window. The head to head query has observable third party search demand. Both providers have a public /products/[slug] page on OCB. The full pair ledger is versioned in the public repo so the methodology is externally verifiable.