In this article, I will discuss the Best Hyperliquid Alternatives: high liquidity, low slippage, and advanced features.
These derivatives, synthetic assets, and leveraged options are great alternatives, whether you’re a professional trader or a beginner.
dYdX and Synthetix are great choices if decentralized platforms are important to you whereas ApolloX is very efficient if you prefer a centralized option.
Key Points & Best Hyperliquid Alternatives
| Platform | Key Features |
|---|---|
| dYdX | Decentralized perpetuals, high liquidity, zero gas fees on dYdX Chain |
| GMX | Spot and perpetual trading, low fees, Arbitrum & Avalanche support |
| Kwenta | Built on Synthetix, supports synthetic assets, high leverage options |
| Level Finance | Risk-tranching model, decentralized governance, BNB Chain-based |
| Vertex Protocol | On-chain order book, cross-margining, high-speed trading engine |
| Uniswap V3 | Concentrated liquidity, customizable fee tiers, massive token support |
| Drift Protocol | Solana-based, dynamic liquidity, cross-margin trading |
| Perpetual Protocol | Virtual AMM model, Layer 2 scaling with Arbitrum, up to 10x leverage |
| Synthetix | Synthetic asset issuance, deep liquidity for derivatives |
| ApolloX | Hybrid DEX/CEX model, supports futures and spot, user-friendly UI |
10 Best Hyperliquid Alternatives
1. dYdX
dYdX is one of the dYdX alternatives to Hyperliquid because of the platform’s high liquidity, decentralization, advanced derivatives trading, and design unparalleled in the industry.
Unlike competitors, dYdX provides traders with perpetual contracts that have significantly lower slippage and highly competitive trading fees.
Their advanced contracts and trading tools focus on dYdX customers with volumes and professional traders of the derivatives market.
Their Layer 2 solution provides near real-time transactions with calculated and minimized gas fees.
Users of the system do not have to rely on dYdX custodianship of their funds while enjoying system’s extensive liquidity and advanced trading functions.
| Feature | Details |
|---|---|
| Decentralized Perpetuals | Offers perpetual contracts without centralized control |
| Zero Gas Fees | Trading on dYdX Chain avoids Ethereum gas fees |
| High Liquidity | Deep order books and active trading volume |
| Advanced Trading Tools | Includes stop-loss, limit orders, and analytics |
| Cross-Margining | Allows efficient capital use across positions |
2. GMX
GMX stands out as an alternative to Hyperliquid because it provides lower fees and high liquidity while offering decentralized trading and perpetual trading on multiple assets.
Its AMM model is sophisticated enough to allow users to trade large amounts of slippage-free liquidity which is unique to high-volume trading.
GMX is one of the few non-custodial decentralized trading platforms; traders have full control of their GMX tokens and there is less counterparty risk.
GMX also comes with the versatility of supporting both spot and controlled risk trading which operationally simplifies the users strategy to just one platform instead of multiple transfers.
The combination of accessibility, liquidity, and user control is what makes GMX one of the best options available for users wanting to trade derivatives in a decentralized environment.
| Feature | Details |
|---|---|
| Spot & Perpetual Trading | Supports both spot and leveraged perpetuals |
| Low Fees | Competitive trading fees on Arbitrum and Avalanche |
| Decentralized Governance | Token holders vote on protocol upgrades |
| GLP Liquidity Pool | Traders use GLP as counterparty, earning fees |
| Real Yield Model | Rewards based on actual protocol revenue |
3. Kwenta
Kwenta stands out as a Hyperliquid alternative because of its synchronization with the Synthetix ecosystem for trading multiple synthetic assets with great liquidity.
Kwenta provides unique unparalleled access to world financial markets—stocks, commodities, and crypto—while users do not need to hold the assets.
Kwenta decentralization and custodialization offers users efficiency with decentralization, low trade slippage and reasonable fees.
Users enjoy precision trade via advanced charting and real-time price feeds. Kwenta combines access to diverse and liquid assets with secure trading to offer traders versatile and dependable custodial trading market exposure.
| Feature | Details |
|---|---|
| Synthetic Assets | Built on Synthetix for exposure to various assets |
| High Leverage | Offers up to 25x leverage on trades |
| Decentralized Trading | Fully on-chain and non-custodial |
| Advanced UI | Professional-grade interface for traders |
| Layer 2 Scaling | Operates on Optimism for fast and cheap transactions |
4. Level Finance
Level Finance has gained prominence as a Hyperliquid alternative due to its quick, low-slippage leveraged position trading.
Capital efficiency is its most distinguishing feature, as traders can engage with larger positions while using a smaller margin, due to the system’s abundance of liquidity.
The combination of an intuitive, easy-to-navigate interface, and sophisticated risk management strategies ensures that Level Finance’s platform caters to the diverse needs of traders, regardless of skill.
The system’s security and risk decentralized structure ensures that users have non-custodial, self-managed access to their trading capital.
Level Finance is a top tier decentralized derivatives trading platform because it effectively integrates leverage, liquidity, and risk control.
| Feature | Details |
|---|---|
| Risk Tranching | Liquidity pools divided by risk levels |
| DAO Governance | Community-driven decision-making |
| BNB Chain Integration | Built on Binance Smart Chain |
| Real Yield Distribution | Revenue shared with liquidity providers |
| Perpetual Futures | Supports leveraged trading on major assets |
5. Vertex Protocol
Vertex Protocol stands out among Hyperliquid alternatives due to its innovative approach to decentralized derivatives trading.
Using an AMM-based model, Vertex provides traders with easy and instant access to deep liquidity on perpetual contracts with minimal slippage, even on large positions
Vertex’s capital efficiency allows users to safely employ high leverage on their positions while optimally managing their collateral.
Vertex’s non-custodial arrangement, alongside real-time, transparent pricing, means traders have complete control over their funds.
Its flexible architecture caters to an extensive spectrum of assets and trading techniques, suitable for both institutional and retail traders. Vertex Protocol’s combination of liquidity, efficiency, and security makes it an obvious selection.
| Feature | Details |
|---|---|
| On-Chain Order Book | Hybrid model combining CEX speed with DEX transparency |
| Cross-Margining | Unified margin across assets and positions |
| High-Speed Engine | Fast execution with low latency |
| Composable Architecture | Built for integration with other DeFi protocols |
| Spot & Derivatives Trading | Offers both spot and perpetual markets |
6. Uniswap V3
A great Hyperliquid alternative is Uniswap V3. Its innovative concentrated liquidity model allows liquidity providers to allocate liquidity within specified ranges.
This increase in capital. Increases trading depth, reduces slippage, and allows even large trades to be executed with ease.
Uniswap V3 supports derivative trading strategies and is versatile for advanced users, as it is primarily a spot trading platform and can be integrated with other protocols.
Uniswap V3 decentralized and non-custodial architecture ensures that traders fully control their assets.
Uniswap V3 is also unique in its token coverage and extensive on-chain analytics, providing an efficient and flexible solution to traders, for their liquidity and trading precision needs.
| Feature | Details |
|---|---|
| Concentrated Liquidity | Liquidity providers can target price ranges |
| Custom Fee Tiers | Multiple fee options for different pools |
| Massive Token Support | Thousands of ERC-20 tokens available |
| Permissionless Access | Anyone can create or trade in pools |
| Layer 2 Support | Available on Optimism and Arbitrum |
7. Drift Protocol
Drift Protocol has positioned itself as a quality alternative to Hyperliquid because of its perpetual futures trading focus with low capital entry.
It has a highly optimized AMM design which guarantees low slippage and deep liquidity for small as well as large trades.
Drift offers fast and low-cost transactions on its Layer 2 network, which offers efficient and accessible leveraged trading.
Drift Protocol is fully autonomous, and non-custodial which means that you can do complex trading without losing control of your capital.
Drift Protocol is a uniquely powerful platform for anyone looking for scalable, high-performance trading.
| Feature | Details |
|---|---|
| Solana-Based | Built for speed and low fees |
| Dynamic Liquidity | Uses virtual AMM for efficient pricing |
| Cross-Margin Trading | Unified margin across positions |
| Decentralized Matching | Peer-to-peer trade matching |
| Real-Time Risk Engine | Monitors and manages liquidation risk |
8. Perpetual Protocol
Perpetual Protocol is regarded Hyperliquid’s best replacement. This is because of the focus on perpetual contracts aided by scalable virtual AMM technology.
This offers deep liquidity with traders experiencing almost zero slippage. The innovative model virtual AMM means users can open leveraged positions and trade without having to deal with an order book.
This means trading becomes more predictable and est more efficient on the use of capital. The platform is decentralised, non-custodial and offers advanced risk protection.
This means users can control their capital. Layer two offers low cost and quick transactions with multiple assets.
This means traders in need of reliable high liquidity derivatives trading can use Perpetual Protocol with confidence in their system security and overall efficiency.
| Feature | Details |
|---|---|
| Virtual AMM Model | No need for traditional order books |
| Layer 2 Scaling | Operates on Arbitrum for low-cost trades |
| Up to 10x Leverage | Allows leveraged positions on various assets |
| Decentralized Governance | PERP token holders vote on upgrades |
| Fee Rebates | Incentives for active traders |
9. Synthetix
Synthetix stands out as the best Hyperliquid substitute due to its capabilities pertaining to the creation and trading of synthetic assets and the crossing of various markets including cryptocurrency, commodities, and fiat currencies.
It admirably offers exposure to the various underlying assets globally while artificial assets are being traded.
Synthetix prides itself in remaining deeply liquid and decentralized without the custody of trading instruments.
All trades made through the Synthetix platform remain non-fiat custodial, and decentralized and pass through various synthetic trading instruments.
The versatile deep liquidity, synthetic exposure trading, and decentralized liquidity provisioning systems make Synthetix one of the top options in alternative liquid markets.
| Feature | Details |
|---|---|
| Synthetic Asset Issuance | Exposure to fiat, crypto, and commodities |
| Deep Liquidity | Backed by SNX collateral and staking |
| Derivatives Infrastructure | Powers other platforms like Kwenta |
| Decentralized Oracle System | Price feeds from Chainlink and other sources |
| Layer 2 Optimism Support | Fast and scalable trading |
10. ApolloX
ApolloX presents a good alternative to Hyperliquid. It offers a unique combination of centralized exchange trading efficiency and advanced derivative trading.
It offers users an opportunity to trade a range of cryptocurrencies, enter into contracts and take advantage of leveraged trading. The interface is straightforward.
It is favorable signed liquidity and lower trading fees. Traders can pass orders with a low slippage. Large-scale slippage becomes a problem when it is compounded.
Innovative tower management structures are designed to meet the needs of any trader, retail included.
Closed centralized system offers high reliability and swift transaction execution, features vital to active traders.
The combination of seamless fast trading, versatile derivative trading and liquidity certainly makes ApolloX a strong contender to Hyperliquid.
| Feature | Details |
|---|---|
| Synthetic Asset Issuance | Exposure to fiat, crypto, and commodities |
| Deep Liquidity | Backed by SNX collateral and staking |
| Derivatives Infrastructure | Powers other platforms like Kwenta |
| Decentralized Oracle System | Price feeds from Chainlink and other sources |
| Layer 2 Optimism Support | Fast and scalable trading |
Conclsuion
To sum up, the best alternatives to Hyperliquid are characterized by a combination of high liquidity, low slippage, and powerful features for advanced trading for professionals and retail traders.
dYdX, GMX, and Perpetual Protocol are the best out there for trading derivatives while Uniswap V3 and Synthetix are great for trading a wider range of assets.
Each choice provides a great balance of efficiency, security, and adaptability, which are the most important factors for decentralized and centralized trading systems.
FAQ
Platforms that offer high liquidity, low slippage, and advanced trading options similar to Hyperliquid.
dYdX, GMX, Kwenta, Level Finance, Vertex Protocol, Uniswap V3, Drift Protocol, Perpetual Protocol, Synthetix, and ApolloX.
Most are decentralized (dYdX, GMX, Kwenta, etc.), while ApolloX is centralized.
Yes, platforms like dYdX, GMX, Drift, and Perpetual Protocol focus on perpetual and leveraged contracts.
Decentralized platforms are non-custodial, giving users full control of funds; centralized ones rely on platform security.
