Hyperliquid vs Veranta
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
See the 13 differences
| Line | Hyperliquid | Veranta |
|---|---|---|
| 30-day volume | Edge#01 · $204,136.0M | #11 · $3,194.0M |
| Trading fees | 0.045% taker · 0.015% makerSeven tiers on 14-day weighted volume: 0.045%/0.015% below $5M, 0.040%/0.012% above $5M, 0.035%/0.008% above $25M, 0.030%/0.004% above $100M, 0.026%/0% from $2B. Maker rebates are paid on each trade. Spot volume counts double toward the tier. | 0.045% taker · 0.001% makerNo order book: the venue prices against its vault and rewards the side that balances open interest. Opening or closing on the lighter side costs 0.001%, on the heavier side 0.045%, charged on notional at both ends. Forex, commodities, indices and equities trade with zero commission while those markets are in growth mode, and Upside Perps skip upfront fees to take a share of profits instead. Funding and borrow are charged while the position is open. |
| New-user perk | Edge4% off fees on your first $25M of volume | None documented |
| Max leverage | up to 40× | Edgeup to 500× |
| Perp markets | Edge234 | 100 |
| Identity check (KYC) | No KYC | No KYC |
| Custody | Non-custodial: positions signed from your wallet | Non-custodial, gasless one-click trading from your wallet |
| Settles on | HyperCore (L1 Hyperliquid) | Base (Avantis/Veranta contracts) |
| Collateral | USDC | USDC |
| Where it runs | Web | Web |
| Chains | EdgeEVMArbitrum, HyperEVM | EVMBase |
| Documented features | Edge7 of 10 | 3 of 10 |
| Order book | Yes | No |
| Cross margin | Yes | No |
| Spot trading | Yes | No |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | No | Not documented |
| API | Yes | Yes |
| Mobile app | Yes | Not documented |
| Telegram bot | No | No |
Which one should you pick?
Pick Hyperliquid if
You want deep liquidity, low fees and a public fee ladder you can plan around.
The deepest perp book in the set by an order of magnitude ($204B over 30 days) and the cheapest base tier, at 0.045% taker and 0.015% maker. Everything settles on Hyperliquid's own L1, with USDC arriving mainly through Circle's CCTP from Arbitrum.
Read the Hyperliquid reviewapp.hyperliquid.xyz
Pick Veranta if
You want one account for FX, equities, commodities and crypto, and you are willing to trade the balancing side to pay almost nothing.
Avantis became Veranta, and the model stayed the same: an AMM-style venue where your fee depends on which side of the market you take, from 0.001% when you balance open interest to 0.045% when you add to it. Leverage reaches 500x on FX majors and 250x on blue-chip crypto through Upside Perps.
Read the Veranta reviewveranta.xyz
