Hyperliquid vs Paradex
A detailed head-to-head comparison of Hyperliquid and Paradex — pricing, features, and which one wins for different use cases.
Hyperliquid
The fastest on-chain perp DEX with a full order book, sub-second finality, and 150+ markets
Hyperliquid is the fastest-growing decentralized perpetuals exchange in 2024–2026, built on a custom high-performance L1 (Hyperliquid L1) that achieves sub-second finality for order book matching with…
Full review →Paradex
Starknet-based order-book perp DEX with a high-performance appchain
Paradex is a decentralized perpetual exchange built as a high-performance appchain on Starknet (incubated by Paradigm), offering a central-limit-order-book experience with the scalability and low late…
Full review →Feature Comparison
| Feature | Hyperliquid | Paradex |
|---|---|---|
| Max Leverage | 50x | Up to 50x |
| Settlement Model | On-chain order book (Hyperliquid L1) | Order book (Starknet appchain) |
| Oracle Type | Native validator oracle | Order book + oracle |
| Funding Rates | ✓ | ✓ |
| Cross Margin | ✓ | ✓ |
| Isolated Margin | ✓ | ✓ |
| Liquidity Provider Yield | ✓ | ✗ |
| Governance Token | ✓ | ✗ |
| Multi Chain | ✗ | ✗ |
| Self Custody | ✓ | ✓ |
Hyperliquid Pricing
Hyperliquid
Free (fee per trade)
Free
- ✓150+ perp markets
- ✓Up to 50x leverage
- ✓Sub-second finality
- ✓No gas fees
- ✓Vault copy-trading
Paradex Pricing
Paradex
Free (fee per trade)
Free
- ✓Non-custodial perpetuals
- ✓Up to 50x leverage
- ✓On-chain settlement
- ✓Funding-rate markets
- ✓Self-custody trading
Verdict: Which Should You Choose?
Hyperliquid is the better pick if you need sub-second order book matching on-chain — fastest dex perp execution available. Paradex wins when high-performance order book on a starknet appchain. Both are production-ready — the right choice depends on your team's workflow and budget.