PopDEXvs
Hyperliquid
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
| PopDEX | Hyperliquid | |
|---|---|---|
| Type | DEX | DEX |
| Taker fee | 0.032%✓ | 0.045% |
| Maker fee | 0.01%✓ | 0.015% |
| Open Interest | $18.0M | $10.29B✓ |
| 24h Volume | $53.4M | $7.02B✓ |
| Avg Funding APR | 7.23% | 11.29% |
| Markets | 50 | 50 |
| Airdrop / token | Pre-TGE | Listed |
PopDEX and Hyperliquid are both perpetual-futures venues tracked on ORBIT. On fees, PopDEX is cheaper (0.032% vs 0.045% taker). On liquidity, Hyperliquid is deeper with $10.29B open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where PopDEX and Hyperliquid diverge right now, then verify the pair in the backtester.
Frequently asked questions
- Is PopDEX or Hyperliquid cheaper?
- PopDEX charges 0.032% taker / 0.01% maker; Hyperliquid charges 0.045% taker / 0.015% maker. PopDEX has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, PopDEX or Hyperliquid?
- PopDEX has $18.0M open interest across 50 markets; Hyperliquid has $10.29B across 50. Hyperliquid is deeper, which means lower slippage at size.
- Can I run funding arbitrage between PopDEX and Hyperliquid?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.