Hyperliquidvs
Binance Futures
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
| Hyperliquid | Binance Futures | |
|---|---|---|
| Type | DEX | CEX |
| Taker fee | 4.5 bps✓ | 5 bps |
| Maker fee | 1.5 bps✓ | 2 bps |
| Open Interest | $7.11B | $17.75B✓ |
| 24h Volume | $4.55B | $35.09B✓ |
| Avg Funding APR | 16.68% | -52.38% |
| Markets | 50 | 50 |
| Airdrop / token | Listed | Listed |
Hyperliquid and Binance Futures are both perpetual-futures venues tracked on ORBIT. On fees, Hyperliquid is cheaper (4.5 vs 5 bps taker). On liquidity, Binance Futures is deeper with $17.75B open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where Hyperliquid and Binance Futures diverge right now, then verify the pair in the backtester.
Frequently asked questions
- Is Hyperliquid or Binance Futures cheaper?
- Hyperliquid charges 4.5 bps taker / 1.5 bps maker; Binance Futures charges 5 bps taker / 2 bps maker. Hyperliquid has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, Hyperliquid or Binance Futures?
- Hyperliquid has $7.11B open interest across 50 markets; Binance Futures has $17.75B across 50. Binance Futures is deeper, which means lower slippage at size.
- Can I run funding arbitrage between Hyperliquid and Binance Futures?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.