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THORChain
HyperliquidOrcaCamelotQuickSwapJumper ExchangeRango ExchangeAll chainsOn EthereumOn BaseOn SolanaOn ArbitrumOn BNB ChainOn PolygonOn SuiWallets by chainToken approvalsYour first swapA perpetuals exchange that feels like a centralized venue but settles onchain. Hyperliquid put an entire order book onchain with sub second blocks. It is the clearest proof that onchain trading can match centralized speed.
What it is
Hyperliquid put an entire order book onchain with sub second blocks. It is the clearest proof that onchain trading can match centralized speed.
| Property | Detail |
|---|---|
| Launched | 2023 |
| Model | Fully onchain central limit order book for perpetuals |
| Chains | Hyperliquid L1 |
| Custody | Self custody. Your funds never leave your wallet until the swap executes |
| Account required | None. You connect a wallet |
The HYPE token
Prices as of September 29, 2026, replaced by live figures as the page loads. Prices move constantly and are for orientation only.
A governance token is not the exchange, and holding one is not required to use the other.
Using it safely
Reach it from a bookmark
Type the address or use a saved bookmark. Fake front ends served through search ads are the single most common way wallets get drained.
Check the network
Your wallet and the site must be on the same chain, or your balance will appear to be zero.
Verify the token contract
For anything other than a household name, paste the contract address from an official source rather than picking from a search list.
Set slippage tight
0.1 to 0.5 percent on major pairs. If a token demands far more, that is information about the token.
Approve the exact amount
Avoid unlimited approvals where the interface lets you choose. Review old ones periodically.
Read the transaction on an explorer
Every time, at first. It builds the instinct that catches problems later.
What it costs
Two separate costs apply to every swap, and beginners often only notice one.
- The pool fee, typically 0.01 to 1 percent depending on the pair and the tier. This goes to liquidity providers.
- Network gas, which depends entirely on which chain you are on and has nothing to do with the DEX.
On Ethereum mainnet gas usually dominates. On Base or Solana it effectively disappears, and the pool fee is the whole cost.
Honest risk assessment
- Smart contract risk. Even audited, heavily used contracts have been exploited before.
- You are responsible for every approval you grant, and they persist until revoked.
- There is no support, no reversal and no recovery for a mistake.
- Prices come from pools, so thin liquidity means severe price impact on larger trades.
- Anyone can list any token. A matching name and logo proves nothing.
Other places to make the same trade
Routing differs, fees differ, and the pool you get filled from differs. These cover the same ground.
Where to go next
First time on Hyperliquid?
We can walk through it live, on a cheap network, so the first swap you do alone is actually your second.