Hyperliquid vs Aster
152 shared markets. Funding is higher on Hyperliquid for 30 and on Aster for 122, mean -0.0003% per 8h. On 7-day averages a long was cheaper on Hyperliquid.
Side by side
| Hyperliquid | Aster | |
|---|---|---|
| Perp markets (snapshot) | 178 | 578 |
| Open interest (snapshot) | $11.36B | — |
| 24h volume (snapshot) | $5.81B | $1.05B |
| Maker fee (base) | 0.015% | 0% |
| Taker fee (base) | 0.045% | 0.04% |
| Funding interval | Every hour, at 1/8 of the computed 8-hour rate | Per market: 1, 2, 4 or 8 hours (at the time of writing 98 markets on 1h, 362 on 4h, 323 on 8h) |
| Interest component | 0.01% per 8 hours (0.00125% per hour, about 11.6% APR paid to shorts) | 0.01% per 8 hours (0% for BNBUSDT) |
| Premium clamp | clamp(interest − premium, −0.05%, +0.05%); premium sampled every 5 s and averaged over the hour | clamp(interest − premium, −0.05%, +0.05%); premium index calculated every 5 s; funding fee cap/floor ±2% per market |
| Chain | Hyperliquid L1 (HyperCore order book, HyperEVM) | Multi-chain (BNB Chain, Ethereum, Solana, Arbitrum deposits); order book "Pro" mode and on-chain "Simple" mode |
| Accounts | Perps and spot share one fee tier; spot volume counts double. Referral discount 4% for the first $25M of volume. | VIP program lowers taker fees by volume; maker fee is 0 across tiers. |
| Referral program | Referral codes available after $10,000 of own volume: referrer earns 10% of referred users' fees, referee gets a 4% fee discount on the first $25M. | Default 10% commission on referred users' fees, splittable with the referee as a discount; approved affiliates get 20% on VIP 1 referees. Paid daily. |
| Builder / integrator fees | Builder codes: an app may charge up to 0.1% on perps and 1% on spot per order (user approves a maximum fee once). Builder needs ≥100 USDC in the perps account. | Aster Code: builders earn a fee on trades routed through their own interface; requires ≥100 ASTER held in the builder's perps account; users approve the agent and the maximum builder fee once. |
Aster open interest is not totalled because its API reports it per market; see the Aster page.
Funding on shared markets (top 25 by open interest)
| Token | Hyperliquid 8h | Aster 8h | Difference APR | 7d avg diff APR | Cheaper long |
|---|---|---|---|---|---|
| BTC | 0.0100% | 0.0100% | 0.0% | 2.7% | Aster |
| ETH | 0.0049% | 0.0066% | -1.8% | 1.3% | Aster |
| HYPE | 0.0100% | 0.0100% | 0.0% | 3.2% | Aster |
| SOL | 0.0045% | 0.0025% | 2.2% | -0.0% | Hyperliquid |
| ZEC | 0.0100% | 0.0100% | 0.0% | 2.0% | Aster |
| NEAR | 0.0100% | 0.0100% | 0.0% | -1.7% | Hyperliquid |
| XRP | 0.0100% | -0.0011% | 12.1% | 0.7% | Aster |
| PUMP | 0.0100% | 0.0100% | 0.0% | -0.4% | Hyperliquid |
| LIT | 0.0100% | 0.0100% | 0.0% | -10.4% | Hyperliquid |
| DOGE | 0.0100% | -0.0013% | 12.4% | 6.1% | Aster |
| ENA | 0.0100% | 0.0100% | 0.0% | 0.4% | Aster |
| ZRO | 0.0100% | 0.0100% | 0.0% | -0.9% | Hyperliquid |
| WLD | 0.0100% | 0.0100% | 0.0% | -2.2% | Hyperliquid |
| UNI | 0.0036% | 0.0100% | -7.0% | 0.3% | Aster |
| VVV | 0.0100% | 0.0100% | 0.0% | 5.2% | Aster |
| XMR | 0.0100% | 0.0100% | 0.0% | -5.1% | Hyperliquid |
| XPL | 0.0100% | 0.0100% | 0.0% | 2.6% | Aster |
| SUI | 0.0100% | 0.0100% | 0.0% | -3.6% | Hyperliquid |
| AAVE | 0.0085% | 0.0100% | -1.7% | -2.3% | Hyperliquid |
| LINK | 0.0100% | 0.0100% | 0.0% | -2.9% | Hyperliquid |
| STRK | 0.0192% | 0.0100% | 10.0% | 8.0% | Aster |
| TAO | 0.0100% | 0.0100% | 0.0% | -0.5% | Hyperliquid |
| BNB | -0.0028% | 0.0000% | -3.1% | 4.6% | Aster |
| MON | 0.0100% | 0.0100% | 0.0% | 2.2% | Aster |
| ONDO | 0.0100% | 0.0100% | 0.0% | -2.4% | Hyperliquid |
Positive difference: funding is higher on Hyperliquid. All 152 shared tokens are in the funding hub; the gaps ranked by size are on the arbitrage page.
Where they differ in practice
- Cost to trade. Hyperliquid: Base tier (tier 0). Fees fall with 14-day rolling volume down to 0.024% taker / 0% maker at >$7B; staking tiers (Wood to Diamond) discount further. Maker rebates at tier 4+. Aster: Crypto "General" pairs: 0% maker / 0.04% taker at VIP 0. "Group B" pairs: 0.1% taker. RWA pairs: 1.25 bps taker. USD1-quoted contracts follow the same split.
- Funding cadence. Hyperliquid: Every hour, at 1/8 of the computed 8-hour rate. Aster: Per market: 1, 2, 4 or 8 hours (at the time of writing 98 markets on 1h, 362 on 4h, 323 on 8h). The same 8h-equivalent rate costs the same over 8 hours, but hourly settlement spreads the cash flow and lets you exit between payments more finely.
- Market list. 26 markets exist only on Hyperliquid and 426 only on Aster in this snapshot; Lighter's exclusives are mostly stocks, FX, indices and commodities, Aster's are long-tail crypto pairs, Hyperliquid's are HIP-3 and newer listings.