Binance vs Hyperliquid: fees and real trading cost
A centralised book against an on-chain one. Hyperliquid's base perp taker is 0.045%, just under Binance's 0.05%; its book is read 20 levels deep plus coarser buckets.
Live order book · updated Fees verified
BTC futures market buy, Binance against Hyperliquid
| Size | Binance fee + slippage | Hyperliquid fee + slippage |
|---|---|---|
| $10,000 | $5.00 + $0.01 | $4.50 + $0.14 |
| $100,000 | $50.00 + $0.07 | $45.00 + $5.32 |
| $1,000,000 | $500.00 + $74.20 | $450.00 + $149.50 |
Over the last 6 hours, a $100k market buy was cheaper on Binance in 1 of them and on Hyperliquid in 5.
Try your own size on Binance
USDT
Binance fee · 0.050%$50.00
Spread + slippage · live Binance book, 05:09 UTC$0.07 (0.000066%)
Total cost$50.07
Save 20% on fees using Binance referral code
This order: $50.00 → $40.00 in fees
Affiliate link to Binance: CostDepth may earn a commission. Funding not included.
Same order on Hyperliquid
Trading fee · 0.045%$45.00
Spread + slippage · live Hyperliquid book, 05:09 UTC$5.32 (0.0053%)
Total cost$50.32
Save 4% on Hyperliquid fees with referral code
This order: $45.00 → $43.20 in fees, saving $1.80
What differs between Binance and Hyperliquid
- Binance: Spot VIP 1 pays 0.09% / 0.10%, VIP 2 0.08% / 0.10%, VIP 3 0.04% / 0.06%. 'Regular' means under $1M of 30-day spot volume.
- Binance: Futures VIP 1 lowers only the maker side, to 0.018%; regular futures accounts trade under $5M a month.
- Hyperliquid: Makers above 0.5%, 1.5% or 3% of maker volume earn −0.001% to −0.003%.
- Hyperliquid: Its referral discount covers your first $25M of volume. HIP-3 'growth mode' markets charge at least 90% less.
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