HYPE vs OKX

OKX leads on both live benchmarks. OKX wins on Cheapest perp venue to hold a position, live funding normalized (0.73 bps vs 2.64 bps), Perp DEX funding stability, 24h stddev of ETH funding ranked (0.0073% vs 0.013%).

Read methodology Last measured Thu, 17 Sep 2026 08:49:00 UTCWindow: rolling 24h2 shared benchmarks

HYPE

Onchain perp DEX on the Hyperliquid L1. Fully onchain orderbook with sub-second matching, no off-chain matching engine.

OKX

OKX is a major centralized exchange whose USDT-margined perpetual swaps settle funding on variable periods (typically 8 hours), with rates capped per instrument.

Side by side measurements

Cheapest perp venue to hold a position, live funding normalized

Trading

Provider	Funding cost to hold a long 24h	Annualized (ETH)	Per-hour rate (ETH)	BTC hold 24h	SOL hold 24h
HYPE	2.64 bps	10.9%	0.13 bps	1.97 bps	1.17 bps
OKX	0.73 bps	2.17%	0.02 bps	1.64 bps	0.90 bps

Funding is signed. Positive means longs pay shorts, negative means longs get paid to hold. Venues settle on different native periods (1h for Hyperliquid and dYdX, 4h or 8h elsewhere); every figure is normalized from the venue's own quoted rate and interval before ranking. Funding is only the holding cost. Opening costs (taker fee, spread, impact) are the companion bench perp-fees.

Perp DEX funding stability, 24h stddev of ETH funding ranked

Trading

HYPE

Trails

0.013 %

p99: 0.019%
rank: #12
samples: 2,880

OKX

Leads

0.0073 %

p99: 0.0083%
rank: #7
samples: 2,880

Stability is not directionality. A venue with persistently positive but tight-banded funding ranks better here than one that flips between positive and negative every settlement, even if the second venue offers better average carry. Read alongside perp-funding for direction and average level.

Frequently asked questions

HYPE vs OKX: which one is better?

HYPE and OKX are compared on 2 shared OpenChainBench benchmarks. OKX leads on Cheapest perp venue to hold a position, live funding normalized. See the live table on this page for every metric.

Which is cheaper, HYPE or OKX?

On the Cheapest perp venue to hold a position, live funding normalized benchmark, OKX leads at 0.73 bps versus HYPE at 2.64 bps. Live measurement is updated continuously by the OpenChainBench harness.

How is the HYPE vs OKX 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.