Hyperliquid Benchmark

Live benchmark results

1. awaiting

   Trading

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

   24h ETH funding stddev

   data warming up

2. #1of 23

   Trading

   Perp DEX volume share, live 24h notional ranked

   24h perp volume

   $4.98B

   p50 · 24h

3. #1of 15

   Trading

   Perp DEX asset breadth: non-crypto markets live, stocks + indices + forex + commodities

   Non-crypto markets

   147

   p50 · 24h

4. #1of 11

   Trading

   Perp DEX daily volume 2026: Hyperliquid, Aster, Lighter, GMX, Gains, dYdX by UTC day, backfilled

   Daily perp volume

   $5.75B

   p50 · 24h

5. #1of 9

   Trading

   Perp DEX execution quality: slippage on a $100k market order, live across orderbook venues

   Slippage at $100k

   #1 of 9 on ETH

   0.0035%

   p50 · 24h

6. #1of 6

   Trading

   Perp DEX mark price fidelity: deviation from CEX spot reference, live

   Mark price deviation

   #1 of 6 on ETH

   0.022%

   p50 · 24h

7. #1of 2

   Trading

   DeFi token buyback tracker, live executed vs promised ratio

   Execution ratio

   186.0%

   p50 · 24h

8. #3of 42

   Blockchains

   Bridged TVL by chain: how much of a chain's capital came from somewhere else

   Bridged TVL

   $7.17B

   p50 · 24h

9. #3of 26

   Blockchains

   Stablecoin flow by chain: where dollars actually moved over 30 days

   Net stablecoin flow (30d)

   $448.81M

   p50 · 24h

10. #4of 22

    Trading

    Perp DEX volume to open interest: 24h turnover per dollar of OI, live

    Volume / OI (24h)

    0.374x

    p50 · 24h

11. #4of 8

    Trading

    Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked

    Cost slope ($1M / $1k)

    1.167x

    p50 · 24h

12. #5of 6

    Trading

    Perp DEX security track record: days without a recorded exploit, live

    Days since last exploit

    1,070

    p50 · 24h

13. #6of 6

    Blockchains

    Highest staking yield, live validator net APR across 7 PoS chains

    Net yield

    2.18%

    p50 · 24h

14. #7of 11

    Trading

    Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL

    All-in cost

    0.047%

    p50 · 24h

15. #8of 22

    Trading

    Most tradable markets on a perp DEX, live count per venue

    Active markets

    178

    p50 · 24h

16. #9of 9

    Trading

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

    P/E ratio

    103.8x

    p50 · 24h

17. #10of 13

    Trading

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

    P/F ratio

    19.4x

    p50 · 24h

18. #11of 12

    Trading

    Funding paid to hold an ETH perp long for 30 days, per venue, live

    Funding paid, 30d ETH long

    83.6 bps

    p50 · 24h

19. #12of 12

    Trading

    Perp DEX capital efficiency: active markets per $M TVL, live

    Markets per $M TVL

    0.024

    p50 · 24h

20. #14of 18

    Trading

    Cheapest perp venue to hold a position, live funding normalized

    Funding cost to hold a long 24h

    3.00 bps

    p50 · 24h

21. #60of 65

    Trading

    Price to fees across DeFi: what the market pays per dollar of protocol fees

    P/F ratio

    19.4x

    p50 · 24h

Compare Hyperliquid to alternatives

Pick a head to head pair to see Hyperliquid and a competitor side by side across every benchmark they share.

• 

  Lighter

  17 shared benchmarks

• 

  dYdX

  15 shared benchmarks

• 

  Aster

  14 shared benchmarks

• 

  Paradex

  13 shared benchmarks

• 

  Extended

  12 shared benchmarks

• 

  Gains

  12 shared benchmarks

• 

  GMX

  11 shared benchmarks

• 

  edgeX

  10 shared benchmarks

• 

  ApeX Omni

  9 shared benchmarks

• 

  Ondo Perps

  9 shared benchmarks

• 

  Polymarket

  8 shared benchmarks

• 

  Kalshi

  7 shared benchmarks

Browse every head to head pair

Alternatives lists featuring Hyperliquid

• →Alternatives to dYdX
• →Alternatives to Gains
• →Alternatives to GMX

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• Perp DEX volume share, live 24h notional ranked

  
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• Perp DEX asset breadth: non-crypto markets live, stocks + indices + forex + commodities

  
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  [![Ranked #1 on OpenChainBench: Perp DEX asset breadth: non-crypto markets live, stocks + indices + forex + commodities](https://openchainbench.com/api/badge/perp-asset-breadth/hyperliquid)](https://openchainbench.com/benchmarks/perp-asset-breadth)

• Perp DEX daily volume 2026: Hyperliquid, Aster, Lighter, GMX, Gains, dYdX by UTC day, backfilled

  
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  <a href="https://openchainbench.com/benchmarks/perp-daily-volume"><img src="https://openchainbench.com/api/badge/perp-daily-volume/hyperliquid" alt="Ranked #1 on OpenChainBench: Perp DEX daily volume 2026: Hyperliquid, Aster, Lighter, GMX, Gains, dYdX by UTC day, backfilled" height="44" /></a>

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  [![Ranked #1 on OpenChainBench: Perp DEX daily volume 2026: Hyperliquid, Aster, Lighter, GMX, Gains, dYdX by UTC day, backfilled](https://openchainbench.com/api/badge/perp-daily-volume/hyperliquid)](https://openchainbench.com/benchmarks/perp-daily-volume)

• Perp DEX execution quality: slippage on a $100k market order, live across orderbook venues · ETH

  
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  [![Ranked #1 on OpenChainBench: Perp DEX execution quality: slippage on a $100k market order, live across orderbook venues on ETH](https://openchainbench.com/api/badge/perp-execution-quality/hyperliquid?chain=ETH)](https://openchainbench.com/benchmarks/perp-execution-quality?chain=ETH)

• Perp DEX mark price fidelity: deviation from CEX spot reference, live · ETH

  
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  <a href="https://openchainbench.com/benchmarks/perp-mark-price-lag?chain=ETH"><img src="https://openchainbench.com/api/badge/perp-mark-price-lag/hyperliquid?chain=ETH" alt="Ranked #1 on OpenChainBench: Perp DEX mark price fidelity: deviation from CEX spot reference, live on ETH" height="44" /></a>

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  [![Ranked #1 on OpenChainBench: Perp DEX mark price fidelity: deviation from CEX spot reference, live on ETH](https://openchainbench.com/api/badge/perp-mark-price-lag/hyperliquid?chain=ETH)](https://openchainbench.com/benchmarks/perp-mark-price-lag?chain=ETH)

• DeFi token buyback tracker, live executed vs promised ratio

  
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  <a href="https://openchainbench.com/benchmarks/buyback-audit"><img src="https://openchainbench.com/api/badge/buyback-audit/hyperliquid" alt="Ranked #1 on OpenChainBench: DeFi token buyback tracker, live executed vs promised ratio" height="44" /></a>

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  [![Ranked #1 on OpenChainBench: DeFi token buyback tracker, live executed vs promised ratio](https://openchainbench.com/api/badge/buyback-audit/hyperliquid)](https://openchainbench.com/benchmarks/buyback-audit)