Hyperliquid vs SynFutures 2026: 2 live benchmarks compared

Name: Hyperliquid vs SynFutures OpenChainBench measurements
Creator: OpenChainBench
License: https://creativecommons.org/licenses/by/4.0/

OpenChainBench

Hyperliquid vs SynFutures

SynFutures leads on both live benchmarks. SynFutures wins on Perp DEX token P/E ratio 2026 (12.2x vs 101.2x), Perp DEX price to fees (6.19x vs 19.2x). Data as of 2026-10-06 UTC.

Read methodology Last measured Tue, 06 Oct 2026 03:46:17 UTCWindow: rolling 24h2 shared benchmarks

Hyperliquid

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

SynFutures

SynFutures is an oAMM-based (Oyster AMM) perpetuals DEX on Base and Arbitrum. Traders open positions against a concentrated liquidity pool rather than a matching engine; any ERC-20 can be listed permissionlessly.

Side by side measurements

Perp DEX token P/E ratio 2026: Hyperliquid, Lighter, GMX, dYdX, GNS live

Trading

Hyperliquid

Trails

101.2x

p99: 101.2x
rank: #9
samples: 2,880

SynFutures

Leads

12.2x

p99: 12.2x
rank: #3
samples: 2,880

P/E ratio

Hyperliquidn/aSynFuturesn/a

P/E = fully diluted valuation (CoinGecko) divided by annualized protocol revenue (DeFiLlama dailyRevenue, 30-day trailing average x365). Protocol revenue = fees accruing to the treasury or token holders, not total user fees. Tokens without a CoinGecko listing show no P/E. FDV reflects total supply at current price, not circulating supply; tokens with large unvested allocations will show inflated FDV-based P/E. Updated hourly.

Perp DEX price to fees: what the market pays per dollar of trading fees

Trading

Provider	P/F ratio	FDV / fees	P/S	Fees 30d	Revenue 30d	Float	Open interest	Fees / OI
Hyperliquid	19.2x	82.3x	23.6x	$89.00M	$72.42M	23.3%	$8.56B	0.127x
SynFutures	6.19x	12.2x	6.19x	$225.3K	$225.3K	50.8%	$1.04M	2.63x

View

Hyperliquidn/aSynFuturesn/a

P/F = circulating market cap (CoinGecko) / annualized fees (DeFiLlama dailyFees, trailing 30d x 365/30), on the DeFiLlama parent the token accrues from. Fees include the share paid to liquidity providers; P/S uses protocol revenue only. Low-float tokens show a much higher FDV/F than P/F. Pre-TGE venues are listed unranked with fees and OI, no ratio. A low multiple is not a recommendation.

Frequently asked questions

Hyperliquid vs SynFutures: which one is better?

Hyperliquid and SynFutures are compared on 2 shared OpenChainBench benchmarks. SynFutures leads on Perp DEX token P/E ratio 2026. See the live table on this page for every metric.

Which has the lower p/e ratio, Hyperliquid or SynFutures?

On the Perp DEX token P/E ratio 2026 benchmark, SynFutures leads at 12.2x versus Hyperliquid at 101.2x. Live measurement is updated continuously by the OpenChainBench harness.

How is the Hyperliquid vs SynFutures 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.