Hyperliquid vs Extended: fees, cost and liquidity
Hyperliquid cost less in 1 and Extended in 5 of the 6 BTC and ETH order sizes where both venues had a rank.
- Hyperliquid, $10K BTC
- 4.56 bps
- Extended, $10K BTC
- 2.56 bps
- Hyperliquid, $1M BTC
- 4.79 bps
- Extended, $1M BTC
- 2.93 bps
Measured cost of a market buy
| Order | Hyperliquid | Extended |
|---|---|---|
| BTC $10,000 | 4.56 bps ($4.56)Rank 16 of 38 | 2.56 bps ($2.56)Rank 4 of 38✓ |
| BTC $100,000 | 4.56 bps ($45.61)Rank 13 of 37 | 2.56 bps ($25.61)Rank 4 of 37✓ |
| BTC $1,000,000 | 4.79 bps ($478.67)Rank 7 of 33 | 2.93 bps ($292.78)Rank 3 of 33✓ |
| ETH $10,000 | 4.70 bps ($4.70)Rank 13 of 39 | 2.70 bps ($2.70)Rank 4 of 39✓ |
| ETH $100,000 | 4.70 bps ($47.04)Rank 9 of 38 | 2.70 bps ($27.04)Rank 4 of 38✓ |
| ETH $1,000,000 | 4.77 bps ($476.69)Rank 4 of 33✓ | 5.55 bps ($554.66)Rank 7 of 33 |
Extended charges less at the base tier on both sides of the book and states self-custody in Starknet contracts.
Hyperliquid runs its own chain and has a longer list of crypto perps.
Fees, funding and market data
| Item | Hyperliquid | Extended |
|---|---|---|
| Taker fee, base tier | 0.045% | 0.025%✓ |
| Maker fee, base tier | 0.015% | 0%✓ |
| Maximum leverage | 40x on BTC, 25x on ETH; 3x to 40x by asset | 50x on BTC and ETH; 100x on EUR-USD only |
| Chain and settlement | Own layer 1 (HyperCore) | Starknet |
| Custody of funds | USDC is minted natively on HyperCore; the legacy Arbitrum bridge holds less than 10% of it | Self-custody in Starknet contracts |
| Market types | Crypto perps (validator-operated) | Crypto, equities, FX, commodities, indices |
| Audits named in docs | Zellic (legacy bridge) | ChainSecurity, Code4rena contest |
| BTC funding rate | 0.0013% per 1hOctober 16, 2026, 08:37 UTC · interval | Not collected |
| ETH funding rate | 0.0013% per 1hOctober 16, 2026, 08:37 UTC · interval | Not collected |
| BTC perp open interest | $3.41bOctober 16, 2026, 08:37 UTC | Not collected |
| ETH perp open interest | $2.70bOctober 16, 2026, 08:37 UTC | Not collected |
| Reported 24h volume | $10.20bOct 16, 2026 | $276.4mOct 16, 2026 |
- Hyperliquid
- fees, leverage, settlement, custody
- Extended
- fees, leverage, settlement and custody
Each fee, leverage, settlement and custody value comes from the official page named here. PerpFinder read every page on Sep 23, 2026.
Fee schedules
Extended charges 0% maker and 0.025% taker on its fee page. Hyperliquid charges 0.015% maker and 0.045% taker at tier 0. At the base tier, Extended is 2 basis points lower for takers and 1.5 basis points lower for makers.
A trader needs a large 14-day volume on Hyperliquid before its tier discounts close that gap.
Chain and custody
Extended runs on Starknet, a ZK chain. Its architecture page says that user funds stay in on-chain contracts and that Extended has no custodial access. The contracts run a health check on every move of collateral. Hyperliquid keeps balances on its own layer 1 chain.
Market scope
Extended lists more than 100 markets, with crypto, equities, FX, commodities and indices. It states up to 100x leverage. Hyperliquid sets 3x to 40x per asset for its validator-operated perps. Our cost sweep measures crypto perps only, so the measured rows cover BTC and ETH.
Funding
Both venues charge funding every hour. Extended caps order-book crypto funding at 0.25% to 2% per hour, by market group, on its funding page. We do not collect Extended funding yet, so its funding rows show no reading.
Audits
Extended names ChainSecurity and a Code4rena public contest on its audit page. Hyperliquid names Zellic for its legacy bridge.
Hyperliquid and Extended book depth
A $1,000,000 BTC market buy moved the Extended book more. Spread and impact cost 0.43 bps there and 0.29 bps on Hyperliquid. For ETH, Hyperliquid kept the lower book cost: 0.27 bps, with 3.05 bps on Extended. A hundred times the order size added 0.23 bps of book cost on Hyperliquid and 0.37 bps on Extended, from $10,000 to $1,000,000 of BTC.
Who can open an account
Both venues bar persons in the United States. Only Extended also bars the United Kingdom and Canada.
| Jurisdiction | Hyperliquid | Extended |
|---|---|---|
| United States | Not available | Not available |
| United Kingdom | Not named | Not available |
| EU and EEA | Not named | Not named |
| Canada | Limited | Not available |
| Identity documents | Not asked in the interface | Not stated |
Hyperliquid collects a wallet address and geolocation data from users, not identity documents. The terms mention identity checks only for a third-party fiat on-ramp provider. No page states whether the Extended interface itself asks for identity verification.
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 taker at the base tier pays a lower fee on Extended. The measured rows show whether its book keeps that lead at $100,000 and $1,000,000.
Hyperliquid vs Extended FAQ
Does Extended charge lower fees than Hyperliquid?
Yes, at the base tier.
Extended lists 0% maker and 0.025% taker. Hyperliquid lists 0.015% maker and 0.045% taker at tier 0.
Is Extended self-custodial?
Its architecture page says that user funds stay in on-chain contracts on Starknet and that Extended has no custodial access.
How often do Hyperliquid and Extended settle funding?
Both charge funding every hour.
Extended caps crypto funding at 0.25% to 2% per hour by market group.