Best Alternative to Hyperliquid: Hyperliquid Competitors in 2026

Hyperliquid used to be the obvious choice for perpetual futures trading on DEX, but recent security issues and wrongful liquidations have led many traders to seek better alternatives. Aside from this, Hyperliquid also supports full on-chain transparency, which may not suit traders looking to trade privately. 

 

In 2026, Hyperliquid is no longer the only decentralized exchange for perps trading, as exchanges like AsterDEX and AFX Trade now offer unrestricted futures trading, and centralized exchanges like Binance continue to expand their reach and functionality.  

 

We tested some of the best decentralized exchanges to see how they compare to Hyperliquid in terms of trading speed, liquidity, privacy features, security, trading fees, and overall trading experience. 

 

Exchanges on this list offer different benefits; hence, they work well for traders based on their preferences and trading experience. 

 

Quick Note: Decentralized exchange remains the best option for traders seeking to trade futures without KYC. On DEXs, you retain custody and control of your assets at all times. This ensures you will not have to deal with centralized exchanges freezing your assets. 

 

 

What is Hyperliquid?

 

Hyperliquid is popular among traders for its liquidity depth, but the two features we found surprisingly useful are wallet tracking and the funding comparison dashboard. 

 

Using the Hyperliquid leaderboard with tracking tools like WhaleStreet, we were able to track and analyse accounts with over than 100k USDC balance and over 10M USDC in trading volume. Many traders also use it to develop better strategies, copy profitable trades, or simply follow whales' positions.

 

The funding rate comparison dashboard shows the current funding rate across exchanges. With that, you can predict market sentiment and discover arbitrage opportunities. See our previous article to learn more about how funding rate and funding rate arbitrage work.

 

Hyperliquid works well for active traders and passive income seekers. First, it is built on a proof-of-stake blockchain, which means users can stake $HYPE directly on the exchange with validators and earn rewards. Currently, the yearly interest offered by most validators is below 3%. 

 

An alternative for traders seeking passive income is Hyperliquid's vaults. You can join exchange vaults (liquidity pools) or try decentralized copytrading by adding funds to a user vault to share trading profits. 

 

You don’t need to be a full-time futures trader, but you need to carefully review a vault before adding your asset, since you get a 90% share of the profit or loss. 

 

For active traders, the exchange combines deep liquidity with a moderate number of assets (cryptocurrencies and real-world assets (RWA)) to support large-volume orders with fast execution and low slippage. It allows API wallet (trading agents) to interact with its interface and execute orders on your behalf. 

 

Check out our Hyperliquid tutorial for a step-by-step guide on how to trade futures on Hyperliquid. 

 

Now, let’s look at some of the exchanges you can use for futures trading.

 

Best Hyperliquid Alternatives for Perpetual Trading 

 

Apex Omni

 

Many users consider Apex Omni's trading speed the biggest benefit; in our case, the best thing is its liquidity depth. Apex Omni has one of the most highly supported liquidity pools, making it easy for traders to execute large-volume trades without delay. 

 

By relying on its liquidity pools, the exchange can also execute major liquidations without introducing price volatility. 

 

While it is true that Apex Omni has a lower daily trading volume than Hyperliquid, the difference is barely noticeable when interacting with popular assets. Read more in the Apex Omni vs Hyperliquid article.

 

Apex Omni gives you access to 100x on popular assets like BTC and up to 50x on other altcoins. 

 

Most beginner traders will not require 100x leverage to trade, but advanced traders can use it to manage capital more efficiently. Higher leverage increases liquidation risk, but it allows users to aim for high profit with less trading capital. 

 

Our main concern with using Apex Omni is the additional withdrawal fee. Using the exchange for the first time, we found that it applies an additional fee for fast withdrawal. 

 

The fee structure is included in the exchange’s documentation, but here is a breakdown from our experience trading on the platform

 

Why Apex Omni Applies an Extra Withdrawal Fee 

 

Apex Omni is built on the Arbitrum blockchain, a layer-2 chain designed for fast transaction settlement. Arbitrum uses optimistic roll-up technology, which presumes that all transactions are valid until finalization. 

 

Apex Omni inherits this feature, so transaction speed is high, but withdrawal needs finalization, which may take close to 4 hours. 

 

To eliminate this barrier, Apex Omni introduced the fast withdrawal option. 

 

By opting for fast withdrawal, we completed a $100 USDC withdrawal on the Arbitrum blockchain in less than 5 minutes. The total withdrawal fee (handling fee + gas fee) was around $2, but note that it may be higher or lower depending on network conditions. 

 

 

Start trading on Apex Omni to enjoy a 5% discount on trading fees.

 

Who is AFX Trade best for?

• Traders looking for a Bybit-like experience
• Traders who are familiar with the Arbitrum blockchain 
• Traders seeking diverse options, such as grid or bot trading
• Traders interested in no-KYC or anonymous trading with privacy

 

AFX Trade

 

AFX Trade stands out for its low maker fee. AFX Trades applies a 0.01% maker fee, while Hyperliquid applies 0.015%. 

 

The percentage difference is noticeable in high-volume trades, since the trading fee applies to both opening and closing positions. Instead of paying $1,500 on Hyperliquid, you will pay only $1,000 on AFX Trade for the same trading volume. 

 

VIP traders can reduce the fee by up to 90% and earn additional rewards through the AFX Trade reward pool. See the AFX Trade VIP Program

 

Though it is a new protocol with a short security and trading history, it is built on its own Layer-1 blockchain. AFX blockchain documentation claimed that transaction finality is under 100 milliseconds. During our testing, we expected trading to be slower because the platform is new, but our first trade of 0.4 LTC-USDC was executed within seconds. 

 

This does not include setting up order details such as leverage, margin, stop-loss, and take-profit. 

 

AFX Trade combines routine smart contract auditing with MEV-resistant features to protect trades and prevent external security threats.

 

Hyperliquid transparency can be useful, but its major trade-off is that visible trades may affect market sentiment and increase exposure to MEV attacks, leading to greater volatility. 

 

Exchanges like AFX Trade appeal to many traders because they can execute orders without public attention. Wallet activity remains traceable on the exchange explorer, but users get blockchain anonymity to protect their real identities. 

 

Two major challenges of trading on AFX Trade are: limited blockchain and single-collateral. You can only trade with USDC. And you can only deposit USDC to the exchange via the Arbitrum blockchain. 

 

To execute our first trade, we started by converting $ETH to 100 USDC on Arbitrum using the MetaMask ‘Swap’.  We followed it by sending the USDC to AFX Trade for trading. 

 

 

Start trading on AFX Trade here to join the ongoing crypto reward and receive 5% discount on fees,

 

Who is AFX Trade best for?

• Beginner traders interested in crypto bonuses
• High-volume traders looking to trade without KYC
• Traders who are familiar with the Arbitrum blockchain 
• Traders seeking a high discount on trading fees.

 

If you want to be sure that AFX Trade is a good fit for you? Check out our AFX vs Hyperliquid article for a detailed features comparison.

 

Binance 

 

Binance recently obtained a licence to serve traders in the Philippines, but it remains restricted in several countries. The main issues users face on centralized exchanges like Binance are location barriers, custodian risks, and trading restrictions.

 

For users residing in Binance-approved countries, Binance offers one of the most efficient crypto trading for new and experienced traders. The exchange supports fiat on-ramps, which drastically reduce the steps required to get started. You can buy assets with your credit card and withdraw directly to your bank account, instead of learning how to connect and manage Web3 wallets.

 

Some traders use Binance for its high security features. Though Binance has been hacked in the past, the exchange maintains routine system auditing, transparent proof of funds, and an emergency reserve (Binance SAFU) holding close to $1 billion. 

 

Also, Binance outperforms Hyperliquid and other DEXs in terms of market reach and liquidity. 

 

Its daily trading volume exceeds $23 billion, and it offers access to over 1,500 crypto assets. So, you can interact with a lot of altcoins and execute trades in seconds.

 

Trading on Binance means giving up custody of your funds. Assets on Binance are held in the exchange's cold and hot wallets, which makes it vulnerable to attack or mismanagement. 

 

Binance has repeatedly frozen users' accounts with assets when they fail to comply with its terms of use. Reasons for this include receiving crypto from sanctioned countries or accessing Binance with a VPN.

 

 

Who is Binance best for?

• Altcoin traders and airdrop farmers (require staking or holding $BNB)
• High-volume traders in Binance-approved countries
• Beginners interested in security and wide access
• BNB Holders looking to benefit more from the token

 

AsterDEX

 

If you need an alternative to Hyperliquid but can’t use Bybit or Binance, AsterDEX is a Binance-backed exchange worth considering. While it is backed by a centralized exchange, AsterDEX is fully decentralized, with no custodian risk. 

 

Built on a layer-1 blockchain (Aster) for spot and futures trading. AsterDEX is designed for fast trade execution and slippage-free trading, but we noticed the exchange has very limited spot and RWA trading with few assets. Most real-world assets are unavailable, and the spot section also has limited crypto assets. 

 

AsterDEX is designed with a hidden order and a shielded trading mode to provide privacy at two levels, so traders who want to keep their trading details partially or completely hidden can enjoy it. 

 

Unlike Hyperliquid, AsterDEX uses these features to offer privacy and reduce the chance of MEV attacks. To compare other features, check out our Hyperliquid vs AsterDEX post.

 

Hidden Order vs Aster Shield Mode

 

With the hidden order, traders can execute futures trades with reasonable discretion. Orders stay hidden until they are executed, but they interact with the exchange orderbook, and the trade is added to the order after execution. 

 

In the Shield Mode, your order interacts directly with the protocol liquidity pool. The details are fully protected and are not recorded on any orderbook, making it a fit for traders seeking full privacy. 

 

Using the Shield Mode comes with additional features, such as up to 1001x leverage, but it also has some limitations. While you can trade with as little as $0.2 on the main AsterDEX interface, once you switch to the Shield Mode, the minimum trading capital is $5. 

 

Also, the Shield Mode doesn't support multi-asset collateral. During our test, we deposited $BNB into AsterDEX. That works on the Perp interface, but the Shield Mode uses only USDT as collateral, so we had to withdraw the $BNB and convert it to USDT before making another deposit.

 

Check out our AsterDEX Shield Mode article, where we explain how it works, its core benefits, and what you need to consider before using it.

 

 

Start futures trading on AsterDEX with our referral link to get a 2% discount on trading fees.

 

Who is AsterDEX best for?

• Traders interested in passive income and high discounts
• High-volume traders looking for fully anonymous trading
• Traders who are familiar with the BNB blockchain 
• Traders interested in lower trading fees (maker and taker)

 

Conclusion 

 

Hyperliquid, AsterDEX, and AFX Trade are some of the best decentralized exchanges in 2026. One benefit of trading on AsterDEX or AFX Trade is the level of privacy. AFX Trade does not publicly display positions, making it suitable for traders seeking regular anonymity at no extra cost. 

 

AsterDEX, on the other hand, offers advanced privacy features ideal for traders seeking a high level of privacy. It comes with major trade-offs, such as high trading costs, high fees, and extremely high leverage. 

 

Before we completed our list, we also considered Apex Omni as a good option. However, Apex Omni has high trading fees of 0.02% maker and 0.06% taker. The exchange also charges an additional fee for fast withdrawals, which increases the overall trading costs. 
 

Short overview

Best For	Exchange
Overall Trading	Hyperliquid
Anonymous Trading	AsterDEX
Low Fees	AFX Trade
CEX-like Experience	Apex Omni
Beginners	Binance
High Leverage	AsterDEX
Altcoin Trading	Binance
Passive Income	Hyperliquid

We compared Apex Omni to Hyperliquid carefully in the Apex Omni vs Hyperliquid article.  

 

Frequently Asked Questions

 

What is the difference between centralized and decentralized exchanges?

 

Centralized and decentralized exchanges differ in how they are built. Centralized exchanges offer a simple crypto trading experience for beginners, but they require compulsory identity verification and KYC, which means you cannot trade anonymously. 

 

On decentralized exchanges, you can trade without identity verification, but you need to learn how to connect web3 wallets like MetaMask to the exchange’s interface. We have previously explained how to use Hyperliquid, and you can check our AFX Trade tutorial before you start trading. 

 

What is decentralized copy trading on Hyperliquid, AFX Trade, and Apex Omni?

Decentralized copytrading is available on popular decentralized exchanges like Hyperliquid, Apex Omni, AsterDEX, and even AFX Trade. With it, traders with little trading experience can add their asset, usually at least 100 USDC, to a trader’s vault and receive 90% of the reward from the trade. 

 

Can I use Binance in the United States?

The global Binance platform, the Binance.com website, is not available in the US, but traders in some states can access the Binance.us app for trading. It is designed specifically for US residents, but it lacks features available on the general Binance website or app. 

 

What are the best futures trading exchanges in the US?

For beginners, centralized exchanges like Binance or Bybit remain the best option due to the ease of buying crypto assets and withdrawing directly to your bank account. However, if you stay in countries where these options are unavailable, decentralized exchanges like Hyperliquid, AsterDEX, or AFX Trade offer the best futures trading experience with no KYC hassle, location barrier, or withdrawal limitation.