Hyperliquid vs edgeX for perpetual futures

The short answer

edgeX and Hyperliquid are both self-custodial order-book venues that verify nobody and charge no gas, and both list stock and forex perpetuals next to crypto. edgeX runs on a StarkEx rollup that settles to Ethereum; Hyperliquid runs its own chain. On the published schedules Hyperliquid is cheaper for makers and level for takers, and its referral discount tips the taker side too.

Fees

edgeX’s Regular User tier, as shown on its VIP page and in its order form to a logged-out visitor, is 0.04% maker and 0.045% taker on contracts. Hyperliquid’s tier 0 is 0.015% maker and 0.045% taker, or 0.0432% taker with a referral code.

One honest complication. edgeX’s public contract metadata carries per-contract default rates that are lower than the published tier on some major pairs. We use the published schedule, because that is what the venue tells a new trader to expect, but a reader who opens an account may see less. Check the fee line in the order form before your first trade there.

edgeX’s maker rate is the striking number: it is close to its taker rate, which means resting orders earns you little. On Hyperliquid the maker side is where the largest savings live, falling to zero and then to a rebate through the tiers on our fees page. On anything held overnight, funding dominates both venues; the funding calculator prices it.

Custody and what breaks

Both are self-custodial. edgeX’s documentation describes assets held in Ethereum smart contracts through StarkEx, with each movement requiring the account owner’s key; Hyperliquid’s balance sits in your own account on its chain. In both cases the risk is your key management and the bridge you use, and our risk page applies to both.

The structural difference is where settlement happens. edgeX batches transactions off-chain and proves them to Ethereum, which is a well-worn design with a known withdrawal path if the operator disappears. Hyperliquid settles on its own chain with its own validator set. Neither has a desk that can reverse anything.

Access

Neither asks for documents. edgeX’s user terms name the United States and Ontario, Canada as Restricted Jurisdictions, alongside sanctioned regions. Hyperliquid’s Terms of Use exclude the same two, plus sanctioned jurisdictions. For once the two lists match, so this comparison does not turn on geography. Our country pages cover the detail.

Where edgeX is genuinely better

• Gas covered by the venue, including settlement, with an email login option.
• Stock and forex perpetuals as first-party listings rather than builder deployments.
• Settlement proved to Ethereum, if you weight Ethereum’s security above a newer chain’s.
• Lower default rates on some majors than its published tier, if your account gets them.

Where Hyperliquid is genuinely better

• Cheaper for makers, by a wide margin, and cheaper for takers with a referral code.
• Far more markets and deeper books on the majors.
• Spot on the same account, and an ecosystem on the same chain.
• Maker fees fall to zero at higher tiers and then pay a rebate.
• A longer record under load, with more open interest through more cycles.
• Everything verifiable on-chain, including the vault that absorbs liquidations.

Who should pick which

Pick edgeX if you want Ethereum-settled custody, you trade its stock or forex listings, or your account is offered the lower per-contract rates and you take rather than make.

Pick Hyperliquid if you rest orders, you want breadth and depth, you want spot alongside perpetuals, or you want the venue with the longer record.

The maker column decides this one for most active traders. If you make markets, even casually, the gap between the two maker rates is larger than anything else on the page.