Hyperliquid Review 2025: Exploring the HYPE

HyperLiquid is an innovative, high-performance, first-tier blockchain platform designed exclusively for decentralised finance (DeFi) applications. The project's main goal is to create an environment accessible to every investor, allowing them to effectively integrate with powerful financial instruments and protocols.

This platform allows traders to enter into perpetual futures contracts, providing a unique advantage in the form of leverage of up to 50x. The key difference between Hyperliquid and many similar services is the absence of gas fees and extremely low commissions for traders (makers and takers). Each order is recorded directly in the blockchain, ensuring absolute transparency and reliability of all transactions. The HyperBFT consensus used by the platform is capable of processing around 100,000 orders per second, which is practically equivalent to the performance of centralised exchanges, although the structure itself remains completely decentralised.

Why is HyperLiquid better than most popular exchanges?

The basis of HyperLiquid's success is the unique HyperBFT consensus algorithm, inspired by the technological solutions of HotStuff and its successors.

This approach guarantees the processing of over 100,000 transactions per second, with a block delay measured in milliseconds. Such performance indicators were previously only characteristic of centralised solutions, but HyperLiquid takes them to a new level within a fully decentralised space.

Compared to traditional centralised exchanges (CEX) such as Binance or Kraken, HyperLiquid stands out in several important ways:

Independent accounting – users are fully responsible for storing their funds, eliminating any intermediaries and trust relationships.
Minimal formalities – there is no account registration or document verification, which saves a lot of time and effort.
Performance and liquidity – lightning-fast order processing and minimal latency ensure a smooth user experience and reduce the risk of price slippage.

The Hyperliquid explorer is actively developing, offering a range of useful features for investors and traders, such as instant access to various market instruments and fast transaction processing without significant time delays. Among other things, the following aspects stand out:

low volatility – minimisation of the risk of losing money due to sudden price fluctuations;
high liquidity – deep integration with major financial protocols and platforms ensures high availability of tradable assets;
no hidden fees – all information about fees is open and available to every participant of the trading platform;
Confidentiality – the use of transaction anonymisation technology protects the data of trading participants from third-party observers.

HyperLiquid is becoming a unique solution for the modern financial world, combining the best features of classic centralised exchanges with promising areas of development in decentralisation technology.

Beginner's guide: how to register and start trading on Hyperliquid

Here is a step-by-step guide from accessing the exchange website or launching the app on your smartphone to making trades.

Step 1. Choose a suitable wallet

To take full advantage of Hyperliquid, you need a wallet that supports Web3 technology.

For example, Gem Wallet, MetaMask, or Trust Wallet, which combine open source code, secure key storage, and convenient interaction with the Hyperliquid platform. Installing and setting up a wallet is extremely simple: download the app, complete the basic configuration, and you have a secure tool for trading.

Depending on the wallet you choose, you can set up additional security levels. For example, two-factor authentication or an access key.

Verification and submission of KYC documents depend on the type of interaction with Hyperliquid bridge. If you plan to exchange tokens, verification is not required. To participate in the Hyper Foundation Delegation Program, you must verify your identity.

Step 2. Obtain the necessary cryptocurrencies

There are several ways to fund your account:

Purchase via bank card. The fastest method is to purchase the required amount of USDC and ETH directly in the app using a credit or debit card.
Combine existing assets. If you already have cryptocurrency in another blockchain, you can transfer it to the Arbitrum network. This method will save you on fees.
Direct withdrawal from a centralised exchange. You can request the withdrawal of the required amount of USDC from a popular exchange directly to the Arbitrum address linked to your wallet.

Regardless of the path you choose, try to adhere to the principle of risk separation: create separate accounts for different purposes to protect the bulk of your savings from potential losses.

Step 3. Setting up a trading account

Now that your wallet is set up and ready to go, it's time to start preparing your Hyperliquid account.

Once you have opened the exchange page, follow these steps:

Select the WalletConnect connection method and use your smartphone camera to scan the QR code provided.
Confirm the connection to the exchange via your wallet by accepting the terms of service.

Your wallet is now officially registered as a Hyperliquid account, ready to deposit funds and start trading.

Step 4. Deposit funds and open your first position

Before you start actively trading, you need to make sure that your Hyperliquid EVM account balance contains a sufficient amount of USDC. Do the following:
Go to the ‘Deposit’ tab and select USDC from the list of available assets.
Confirm the transfer in the wallet window.
Wait for the transaction to be completed on the blockchain (usually takes a couple of minutes).
Once USDC appears on your Hyperliquid balance, you can start creating your first orders. The main workspace of the platform should look familiar to anyone who has used trading terminals before. The price chart is on the left, the order placement panel is on the right, and the active positions are at the bottom.

It is important to understand the difference between the two trading modes:
Cross Margin Mode – the position is supported by all available funds in the account.
Isolated Margin Mode – funds are allocated separately for a specific position, which provides greater flexibility and local protection against complete loss.
Next, select the direction of the trade (long or short), the lot size and the leverage. We recommend choosing moderate leverage to reduce the chances of your position being forcibly liquidated.

Pay attention to the trading commission features: the maker rate is only 0.015%, while takers will have to pay slightly more — 0.045%. Limit orders are traditionally more profitable than market offers.

Functionality and features

The platform's features are presented below.

Spot and futures trading

HyperLiquid provides unique conditions for various types of trading operations, including spot and futures trading.

With the HyperLiquid interface, you can buy and sell digital assets instantly and without delays.

The platform does not require users to undergo identity verification (KYC), which significantly reduces the time needed to get started. The interface is convenient and intuitive, making it ideal for both novice traders and professionals.

Key features of spot trading on HyperLiquid:
Easy account connection via the popular MetaMask, Trust Wallet, Coinbase, Phantom and others.
Minimal transaction confirmation waiting time.
Real-time asset management.
Futures are contracts that allow you to fix the price of an asset for a certain period of time. Using the futures mechanism on HyperLiquid opens up new horizons for earning money on changes in the exchange rate of currencies and other assets. Traders get the opportunity to buy or sell a contract for a future period, protecting themselves from unwanted price changes and increasing their income.

Features of futures trading on HyperLiquid:
High leverage (up to 50 times).
Fast execution of trades.
Flexibility in choosing contract terms.
This creates additional convenience for market professionals seeking to diversify their investment portfolios and minimise risks.

Security and reliability

One of the most important aspects of any platform is ensuring a high level of protection for user data and funds. HyperLiquid pays considerable attention to security issues, using modern encryption and authorisation methods. For example, the use of multi-signature technology guarantees the integrity and inviolability of each network participant's accounts.

All transactions undergo full verification, and the alert system promptly notifies users of any suspicious activity. Each transaction is confirmed by several independent network participants, which further enhances the system's reliability.

Fees and expenses

Despite its focus on decentralisation and democratisation of trading, HyperLiquid strives to keep commissions and fees low for its users. Here are the main types of costs associated with using the platform:
There are no deposit fees, as the deposit process is based on the free transfer of crypto assets.
Withdrawal fees are minimal, amounting to approximately $1.
Trading fees depend on the type of transaction.
It is important to note that in addition to the standard fee structure, there is a progressive discount scale that applies depending on the volume of transactions.

HYPE token: Tokenomics

The HYPE token is the internal cryptocurrency of the Hyperliquid platform and plays a key role in supporting its ecosystem. Its main purpose is to provide decentralised management, economic incentives and payment of fees on the platform. Token holders can vote on various updates and innovations, thus influencing the development of the project.

Users who own HYPE can stake their tokens to earn additional rewards and contribute to the security of the network. Furthermore, HYPE holders benefit from reduced trading fees when conducting transactions on the Hyperliquid platform.

The HYPE token distribution system aims to actively engage the community and encourage long-term development of the platform. According to the release plan, the distribution is as follows:
38.88% is allocated for future payments and community rewards.
31% is distributed among users during the Genesis Airdrop.
23.8% is reserved for ecosystem participants.
6% is transferred to the Hyper Foundation.
0.3% is allocated to community grants.
On 29 November 2024, the largest HYPE token airdrop took place, resulting in 100,000 users receiving significant amounts of tokens. The average airdrop amount was approximately $45–50,000, which was a record for the size of payments. Unlike other projects where token prices could plummet after issuance, HYPE showed the opposite effect: its price skyrocketed from $4 to $35 in the following weeks, accompanied by a significant increase in Total Value Locked (TVL).

As of May 2025, token trading is only available on DEX exchanges. CEX projects have not yet added the option to purchase coins or exchange other currencies for HYPE.

Conclusion

HyperLiquid appears to be a promising platform for investment and trading operations with digital assets. Its unique architecture, high performance and ease of use set it apart from its competitors, attracting the attention of both novice traders and industry professionals.

Using HyperLiquid allows users to avoid a number of traditional drawbacks of centralised platforms, providing maximum freedom of action and independence in decision-making. Despite certain shortcomings inherent in young projects, this platform shows significant potential for long-term growth and strengthening its position in the global cryptocurrency technology market.

By adhering to the principles of transparency and accessibility, HyperLiquid continues to attract more users, contributing to the growth and development of the entire ecosystem. We will closely monitor the project's progress and hope for its continued success and integration with new technologies and financial institutions.

Answers to questions

What is HyperLiquid?

HyperLiquid is a high-performance Layer 1 blockchain platform designed exclusively for decentralised financial applications. The platform's distinctive features include no gas fees, low commissions and instant confirmation of all transactions on the blockchain, ensuring high transparency and reliability.

What are the main differences between HyperLiquid and traditional exchanges?

The main difference between HyperLiquid is that there is no need to register or go through KYC procedures. The platform provides fast order processing and low latency, running on its own HyperBFT consensus algorithm capable of processing over 100,000 transactions per second.

Which wallet is best for working with HyperLiquid?

Any popular wallet that supports Web3. They provide convenient access to HyperLiquid and maintain a high level of security by storing your keys offline.