GRVT vs Hyperliquid: fees, cost and liquidity
GRVT and Hyperliquid both charge 0.045% taker at the base tier, and GRVT pays makers a rebate. Stored BTC and ETH costs, funding intervals and custody.
Measured verdict: On September 23, 2026, at 18:55 UTC, GRVT cost less than Hyperliquid for a $10,000 BTC market buy: 4.58 bps against 4.68 bps. For a $1,000,000 BTC market buy, Hyperliquid cost less than GRVT: 5.77 bps against 25.60 bps. Of the 6 BTC and ETH order sizes where both venues had a rank, GRVT cost less in 2 and Hyperliquid in 4. Read our verdict
Measured cost of a market buy
| Order | GRVT | Hyperliquid |
|---|---|---|
| BTC $10,000 | 4.58 bps ($4.58)Rank 13 of 43✓ | 4.68 bps ($4.68)Rank 16 of 43 |
| BTC $100,000 | 4.58 bps ($45.83)Rank 10 of 42✓ | 5.10 bps ($50.95)Rank 16 of 42 |
| BTC $1,000,000 | 25.60 bps ($2,560.16)Rank 35 of 38 | 5.77 bps ($577.42)Rank 10 of 38✓ |
| ETH $10,000 | 5.10 bps ($5.10)Rank 19 of 43 | 5.06 bps ($5.06)Rank 17 of 43✓ |
| ETH $100,000 | 5.86 bps ($58.56)Rank 20 of 43 | 4.69 bps ($46.87)Rank 10 of 43✓ |
| ETH $1,000,000 | 8.20 bps ($820.02)Rank 22 of 36 | 5.80 bps ($579.86)Rank 7 of 36✓ |
Fees, funding and market data
| Item | GRVT | Hyperliquid |
|---|---|---|
| Taker fee, base tier | 0.045%Read Sep 23, 2026 | 0.045%Read Sep 23, 2026 |
| Maker fee, base tier | -0.0001%✓Read Sep 23, 2026 | 0.015%Read Sep 23, 2026 |
| Maximum leverage | 50x on BTC and ETH, lower at large sizeRead Sep 23, 2026 | 40x on BTC, 25x on ETH; 3x to 40x by assetRead Sep 23, 2026 |
| Chain and settlement | Layer 2 on the ZKsync stack; ZK settlement to EthereumRead Sep 23, 2026 | Own layer 1 (HyperCore)Read Sep 23, 2026 |
| Custody of funds | Smart contract gated by the wallet key; no forced withdrawal describedRead Sep 23, 2026 | USDC is minted natively on HyperCore; the legacy Arbitrum bridge holds less than 10% of itRead Sep 23, 2026 |
| Audits named in docs | Spearbit DAO, NCC Group | Zellic (legacy bridge) |
| BTC funding rate | 0.0100% per 8hSeptember 23, 2026, 21:51 UTC · interval assumed | 0.0013% per 1hSeptember 23, 2026, 21:51 UTC · interval |
| ETH funding rate | 0.0100% per 8hSeptember 23, 2026, 21:51 UTC · interval assumed | 0.0013% per 1hSeptember 23, 2026, 21:51 UTC · interval |
| BTC perp open interest | $212.7mSeptember 23, 2026, 21:51 UTC | $3.29bSeptember 23, 2026, 21:51 UTC |
| ETH perp open interest | $156.0mSeptember 23, 2026, 21:51 UTC | $2.94bSeptember 23, 2026, 21:51 UTC |
| Reported 24h volume | $505.8mSep 23, 2026 | $9.09bSep 23, 2026 |
Makers and takers
GRVT lists a maker fee of -0.0001%, which is a rebate, and a taker fee of 0.045%, per its fee article. Hyperliquid charges makers 0.015% and takers 0.045% at tier 0. The taker fees are equal, so the order book decides the measured cost of a market buy. A maker who rests orders receives a small rebate on GRVT and pays a fee on Hyperliquid.
How funds are held
GRVT keeps funds in a smart contract that the key of the registered wallet controls. Its on-chain elements article lists self-custody, settlement, margin, the risk engine and withdrawals as on-chain functions on Ethereum layer 2 contracts. Hyperliquid keeps balances on its own layer 1 chain.
Leverage by size
GRVT lists 50x for BTC and ETH at the smallest size tier, and lower limits for larger positions, in its margin article. Hyperliquid sets 3x to 40x per asset.
Funding intervals
GRVT uses 1-hour, 4-hour or 8-hour funding by market. It moves a market to 1 hour when the premium is high, per its funding article. Hyperliquid settles every hour. The funding rows on this page show each rate for the interval that our feed records.
Audits
GRVT names Spearbit DAO and NCC Group as audit and pentest partners on its audit article. Hyperliquid names Zellic for its legacy bridge.
Which one fits which trader
A market maker earns a rebate on GRVT at the base tier. A taker should read the measured rows, because the fees are equal.
GRVT vs Hyperliquid FAQ
Is GRVT cheaper than Hyperliquid?
Both charge 0.045% taker at the base tier. GRVT pays makers a 0.0001% rebate, and Hyperliquid charges makers 0.015%. The measured table shows the book cost.
How does GRVT hold user funds?
GRVT keeps funds in a smart contract that the key of the registered wallet controls.
What funding interval does GRVT use?
GRVT uses 1-hour, 4-hour or 8-hour funding by market, and moves a market to 1 hour when the premium is high.
Verdict
Equal base taker fees leave the book to decide the cost of market orders. GRVT pays a maker rebate, while Hyperliquid charges makers 0.015%. Check the measured rows and the funding interval of your market.