Hyperliquid vs Aster
Aster has zero maker fees on most crypto perps and a 1001x high-leverage mode, and it is backed by YZi Labs. Hyperliquid has far deeper liquidity, with about four times Aster's 30-day volume and over five times its open interest (DefiLlama, 20 Oct 2026).
Side-by-side comparison
| Hyperliquid | Aster | |
|---|---|---|
| Type / chain | Perp DEX on its own layer-1 chain (HyperCore, with HyperEVM alongside) | Perp DEX on BNB Chain and its own Aster Chain (mainnet March 2026); deposits from Ethereum, Solana and Arbitrum |
| Custody | Self-custody. Funds sit in your wallet's account on the Hyperliquid L1; USDC usually arrives through the validator-secured Arbitrum bridge | Self-custody (wallet-based); email login on some products |
| Identity checks (KYC) | None. Connect an EVM wallet or log in with email | None reported |
| Availability / restrictions | Interface blocks the US (including US citizens abroad), Ontario, Cuba, Iran, North Korea, Syria, Crimea/Donetsk/Luhansk and other sanctioned regions (Terms of Use, 15 Jun 2026) | Terms exclude the US, Canada, UK, China, Russia, Ukraine, Iran, Syria, Venezuela, Cuba, North Korea and others (as summarised by Cryptowisser, 2026) |
| Fees (base tier, maker / taker) | Perps: 0.015% maker / 0.045% taker at the base tier (14-day volume under $5M). Lower with volume, HYPE staking (5%–40% off) and a referral code (4% off on your first $25M) | Most crypto perps: 0% maker / 0.04% taker, lower at VIP tiers. RWA perps: 0% / 0.0125% (Aster docs, from 7 Sep 2026) |
| Max leverage | 3x to 40x depending on the asset (40x on the largest markets) | Up to 100x in standard mode; up to 1001x on selected markets in 1001x mode |
| Markets | 100+ crypto perps, spot pairs, and builder-deployed HIP-3 perps (including stocks and commodities) | Crypto perps, 24/7 stock perps, spot |
| Execution model | Fully on-chain central limit order book | Order book (Pro mode) plus an oracle-priced one-click mode (1001x/Shield) |
| Token | HYPE (staking, fee discounts, gas on HyperEVM) | ASTER (staking, buybacks from fees) |
| Recent volume / open interest | $208.6B 30-day perp volume and $7.5B open interest (DefiLlama, 20 Oct 2026). Total OI including HIP-3 reached $14.3B in early September 2026 (The Block, 8 Sep 2026) | $49.4B 30-day reported perp volume and $1.33B open interest (DefiLlama, 20 Oct 2026) |
Figures checked 20 October 2026. Fees, leverage caps and country rules change often, so confirm on each venue's own fee page and terms before you trade.
Aster: strengths and weaknesses
Strengths
- Zero maker fee on general crypto perps and a low 0.04% taker fee
- Very high leverage options, including a 1001x mode on selected markets
- Privacy features on Aster Chain, including hidden orders
- Accepts several collateral types, including asBNB and USDF
Weaknesses
- 1001x leverage means a price move of about 0.1% can liquidate you
- Volume-quality questions: DefiLlama delisted Aster's perp data in October 2025 over wash-trading concerns, and now shows a lower “normalized” figure alongside reported volume
- Volume and TVL have fallen far from their October 2025 peak
- A longer restricted-country list than Hyperliquid's, including the UK
Notable events in 2025–2026
- September 2025: Aster reimbursed traders after an XPL perp price glitch caused forced liquidations (The Block).
- 5 October 2025: DefiLlama delisted Aster's perp volume over data-integrity concerns (The Block).
- March 2026: Aster Chain mainnet launched, with privacy on by default. Weekly volume had fallen from a $76.6B peak in October 2025 to nearly $18B (BeInCrypto, 18 Mar 2026, citing DefiLlama).
Which should you choose?
Choose Hyperliquid if liquidity and execution matter most: open interest is over five times Aster's, and its order book is fully on-chain. Choose Aster if you are mainly a maker who wants 0% fees on crypto perps, you already live in the BNB Chain ecosystem, or you value its privacy features.
Treat Aster's 1001x mode with great caution. At that leverage, normal market noise can liquidate a position within seconds. Our margin and leverage guide explains why leverage of 5x or less is far easier to survive.
Ready to trade? Check that Hyperliquid is allowed where you live, then sign up with code POLYGOLD for 4% off trading fees.
Open HyperliquidPerpetual futures with leverage can wipe out your margin quickly. Every venue in this comparison carries its own risks: smart-contract and bridge bugs on DEXs, counterparty and account-freeze risk on centralized exchanges, and liquidation risk everywhere. Only trade where it is legal for you, and read our risk-management guide first.
Frequently asked questions
Is Aster cheaper than Hyperliquid?
At the base tier on general crypto perps, yes: Aster charges 0% maker and 0.04% taker, versus Hyperliquid's 0.015% and 0.045%. Execution quality also matters, and Hyperliquid's deeper books can offset the fee gap on larger orders.
Can I use Aster in the UK?
No. Aster's terms list the UK among restricted jurisdictions, along with the US and Canada. Hyperliquid's interface does not list the UK, but check local rules on crypto derivatives.
Why does DefiLlama show two volume numbers for Aster?
DefiLlama shows reported volume and a lower normalized volume for some venues. It started this after delisting Aster's data in October 2025 over wash-trading concerns.