Hyperliquid vs OKX: fees, cost and liquidity

The OKX ladder since August 14, 2026

OKX moved all global accounts to one futures fee ladder on August 14, 2026. Its notice sets 0.02% maker and 0.05% taker for a regular user. Regional OKX entities can use another schedule, so check your own account page. Hyperliquid lists 0.015% maker and 0.045% taker at tier 0, and lowers them with 14-day volume.

Where the measured numbers come from

Our engine reads each public order book every 6 hours. For each size it walks the book, adds half the spread and the price impact, and then adds the base taker fee. The OKX row and the Hyperliquid row on this page come from the same stored sweep and the same time stamp.

A worked example at $100,000

On OKX, a 0.05% taker fee on a $100,000 market buy is $50. On Hyperliquid, the 0.045% tier 0 fee on the same order is $45. The gap is $5 to open and $5 to close.

A trader who opens and closes 20 such positions in a month pays $200 more in taker fees on OKX, before spread and impact. Maker orders show the same pattern at a smaller scale: $20 against $15 on each $100,000 fill.

What a rank tells you

Each measured cell ranks every venue that the sweep could price at that size. A rank of 10 at $100,000 means that nine venues filled the same order for less. Two venues with the same total share one rank.

So the OKX rank moves when other venues change their fees or their books, even when OKX itself does not change. Compare the totals in basis points first, and use the rank only as context for the full field of venues.

Open interest

Our funding sweep has no OKX open interest reading, so those rows show "Not collected". The open interest page lists venue totals from other feeds.

How our feed times OKX funding

OKX does not publish the interval in the field that our feed reads. The feed derives an 8-hour period from the time between settlements. Hyperliquid documents hourly funding. A long hold pays funding at every settlement, so convert both rates to one day before you compare them.

Deposits and moving funds

OKX is a centralized exchange and holds client deposits. Hyperliquid keeps each balance on its own layer 1 chain, where a wallet signs each order.

To move funds from OKX, withdraw USDC to your own wallet first. The Hyperliquid onboarding page accepts USDC sent on Arbitrum, Ethereum, Base or Polygon to the deposit address in the app.

The legacy Arbitrum bridge has a minimum deposit of 5 USDC, and a smaller amount is lost, per the USDC page. Send a small test amount before a large transfer.

Leverage

The OKX limit on the BTC/USDT perpetual is 100x (OKX API, read 2026-09-23). Hyperliquid sets 3x to 40x per asset.

Hyperliquid and OKX book depth

A $1,000,000 BTC market buy moved the Hyperliquid book more. Spread and impact cost 0.29 bps there and 0.27 bps on OKX. For ETH, Hyperliquid kept the lower book cost: 0.27 bps, with 1.95 bps on OKX. A hundred times the order size added 0.23 bps of book cost on Hyperliquid and 0.27 bps on OKX, from $10,000 to $1,000,000 of BTC.

Who can open an account

Only Hyperliquid also bars the United States. Only OKX also bars Canada.

Hyperliquid collects a wallet address and geolocation data from users, not identity documents. The OKX terms require a government-issued photo ID and evidence of residency for identity verification.

A country that the terms do not name is not a permission. Check your local law before you open an account.