GRVT vs Hyperliquid: fees, cost and liquidity
GRVT cost less in 3 and Hyperliquid in 3 of the 6 BTC and ETH order sizes where both venues had a rank.
- GRVT, $10K BTC
- 4.51 bps
- Hyperliquid, $10K BTC
- 4.56 bps
- GRVT, $1M BTC
- 5.47 bps
- Hyperliquid, $1M BTC
- 4.79 bps
Measured cost of a market buy
| Order | GRVT | Hyperliquid |
|---|---|---|
| BTC $10,000 | 4.51 bps ($4.51)Rank 14 of 38✓ | 4.56 bps ($4.56)Rank 16 of 38 |
| BTC $100,000 | 4.51 bps ($45.06)Rank 11 of 37✓ | 4.56 bps ($45.61)Rank 13 of 37 |
| BTC $1,000,000 | 5.47 bps ($546.52)Rank 11 of 33 | 4.79 bps ($478.67)Rank 7 of 33✓ |
| ETH $10,000 | 4.52 bps ($4.52)Rank 12 of 39✓ | 4.70 bps ($4.70)Rank 13 of 39 |
| ETH $100,000 | 5.93 bps ($59.32)Rank 18 of 38 | 4.70 bps ($47.04)Rank 9 of 38✓ |
| ETH $1,000,000 | 19.22 bps ($1,921.69)Rank 27 of 33 | 4.77 bps ($476.69)Rank 4 of 33✓ |
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%.
Fees, funding and market data
| Item | GRVT | Hyperliquid |
|---|---|---|
| Taker fee, base tier | 0.045% | 0.045% |
| Maker fee, base tier | -0.0001%✓ | 0.015% |
| Maximum leverage | 50x on BTC and ETH, lower at large size | 40x on BTC, 25x on ETH; 3x to 40x by asset |
| Chain and settlement | Layer 2 on the ZKsync stack; ZK settlement to Ethereum | Own layer 1 (HyperCore) |
| Custody of funds | Smart contract gated by the wallet key; no forced withdrawal described | USDC is minted natively on HyperCore; the legacy Arbitrum bridge holds less than 10% of it |
| Audits named in docs | Spearbit DAO, NCC Group | Zellic (legacy bridge) |
| BTC funding rate | 0.0070% per 8hOctober 16, 2026, 07:52 UTC · interval assumed | 0.0013% per 1hOctober 16, 2026, 07:52 UTC · interval |
| ETH funding rate | 0.0079% per 8hOctober 16, 2026, 07:52 UTC · interval assumed | 0.0013% per 1hOctober 16, 2026, 07:52 UTC · interval |
| BTC perp open interest | $205.9mOctober 16, 2026, 07:52 UTC | $3.40bOctober 16, 2026, 07:52 UTC |
| ETH perp open interest | $142.9mOctober 16, 2026, 07:52 UTC | $2.69bOctober 16, 2026, 07:52 UTC |
| Reported 24h volume | $522.8mOct 16, 2026 | $10.20bOct 16, 2026 |
- GRVT
- fees, leverage, settlement, custody
- Hyperliquid
- fees, leverage, settlement, custody
Each fee, leverage, settlement and custody value comes from the official page named here. PerpFinder read every page on Sep 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.
GRVT and Hyperliquid book depth
Hyperliquid had the deeper BTC book at $1,000,000: spread and impact added 0.29 bps, against 0.97 bps on GRVT. On ETH at the same size, the Hyperliquid book added 0.27 bps and the GRVT book 14.72 bps. From a $10,000 to a $1,000,000 BTC buy, the book part of the cost grew by 0.96 bps on GRVT and by 0.23 bps on Hyperliquid.
At the last funding sweep, Hyperliquid held 17 times the BTC open interest of GRVT: $3.40b against $205.9m.
Who can open an account
Both venues bar persons in the United States. Only GRVT also bars Canada.
| Jurisdiction | GRVT | Hyperliquid |
|---|---|---|
| United States | Not available | Not available |
| United Kingdom | Not named | Not named |
| EU and EEA | Not named | Not named |
| Canada | Not available | Limited |
| Identity documents | Not stated | Not asked in the interface |
GRVT runs a risk-based screening and wallet-review program for deposits and withdrawals. No GRVT page states that every user must complete identity verification to open a trading account. Hyperliquid collects a wallet address and geolocation data from users, not identity documents.
A country that the terms do not name is not a permission. Check your local law before you open an account.
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.