Free calculators
- DEX Fee Calculator — Monthly perp fees plus funding on Hyperliquid, Lighter, Aster and edgeX against Binance and Bybit, with tiers, staking and referral discounts.
- Hyperliquid Fee Calculator — Your real Hyperliquid fee per trade and per month: volume tier, HYPE staking, the HOLYGRAIL discount and app builder fees.
- Hyperliquid Calculator — One Hyperliquid position end to end: margin, liquidation price, fees, hourly funding, PnL and ROE for every perp market.
- Liquidation Price Calculator — Long and short liquidation prices, isolated or cross, with the real maintenance-margin tiers of Hyperliquid, Lighter, Aster, edgeX and dYdX, plus a stop-loss check.
Perpetual fees at a glance
Base-tier rates from each exchange's official schedule, verified September 19, 2026. Discounts stack on top.
| Exchange | Taker | Maker | Max leverage (BTC) | Discounts | Referral code |
|---|---|---|---|---|---|
| Hyperliquid | 0.045% | 0.015% | 40x | 4% referral · 5–40% HYPE staking · volume tiers | HOLYGRAIL |
| Lighter | 0% | 0% | 50x | Standard account is free; Premium 0.028% / 0.004% for lower latency | 718610TD |
| Aster | 0.04% | 0% | 1001x* | VIP tiers (volume + ASTER balance); 5% ASTER-payment discount is spot only | DTLpLc |
*Aster's 1001x applies to its one-click "1001x" mode on BTC/USD with capped ROI; order-book perps use lower limits. Full breakdown: Hyperliquid fees · Lighter fees · Aster fees. How each code works: Hyperliquid referral code · Lighter referral code · Aster referral code.
Top DEX Exchanges
Compare the best decentralized exchanges for trading, fees, and rewards.
Hyperliquid
The leading DEX for perpetuals
Lighter
Zero-fee ZK-rollup DEX
Aster
Privacy-first perp DEX, up to 1001x
edgeX
Self-custodial perp DEX with US stock perps
Start here
The guides that answer the questions new perp traders actually have.
Best DEX 2026
—Our picks for perps, zero fees, stocks and mobile — compared on verified fees and liquidity.
Read →What is a DEX?
—How decentralized exchanges work, the risks, and how to make your first trade.
Read →No-KYC crypto exchanges
—Which exchanges let you trade from a wallet without ID — and what that does not mean.
Read →How to trade on Hyperliquid
—Account, deposit, first perp and withdrawal — step by step.
Read →Hyperliquid on your phone
—Official Android app, iPhone setup and the best third-party apps compared.
Read →Hyperliquid fees explained
—Every tier, staking discount and rebate — verified.
Read →Hyperliquid referral code
—How the 4% discount works and how to apply it.
Read →Aster referral code (DTLpLc)
—Where to redeem the invite code before your first trade: 5% of your Aster Perps fees back as a rebate.
Read →Lighter referral code (718610TD)
—10% of the fees you pay, rebated in USDC every Monday — setup in three steps.
Read →How to deposit to Hyperliquid
—Every supported chain, from a CEX or a wallet.
Read →Fee calculator
—Your monthly cost on Hyperliquid, Lighter, Aster vs Binance, Bybit, OKX.
Read →DEX vs CEX
—Fees, custody, KYC and volume — Hyperliquid, Lighter, Aster vs Binance, Bybit, OKX.
Read →Perp DEX ranking
—20 perpetual DEXs by live volume and open interest.
Read →Hyperliquid vs Lighter
—Deep liquidity vs zero fees — which fits you.
Read →Hyperliquid vaults and HLP
—APR, lock-ups and what the headline number hides.
Read →Perpetuals risk management
—Leverage, liquidation distance and sizing.
Read →Most-read Hyperliquid guides
What readers look up most after the basics: data tools, the API, the testnet and the apps around Hyperliquid.
- Hyperliquid API guide — Endpoints, API wallets, rate limits, code.
- Hyperliquid explorer & HypurrScan — Look up any wallet, fill or transfer.
- Hyperliquid whale tracker — Follow the biggest wallets and their positions.
- Hyperliquid airdrop — Who got HYPE, and the Season 3 status.
- Hyperliquid testnet — Faucet, test funds and a practice routine.
- Best DEX trading bots — Hosted bots and APIs compared on fees.
- Hyperdash review — Analytics, top traders and copy trading.
- Stocks on Hyperliquid (trade.xyz) — US stock perps, fees and how to trade them.
- Anthropic stock before the IPO — No public shares yet: the pre-IPO ANT perps on Hyperliquid.
Latest guides
All articles →How to Short on Hyperliquid (2026): Long or Short, Step by Step
— October 22, 2026 HyperliquidHyperliquid Ecosystem (2026): Projects, HyperEVM DeFi & Tokens
— October 22, 2026 HyperliquidHyperliquid Max Leverage (2026): Market Limits & How to Change It
— October 22, 2026 HyperliquidHyperliquid Portfolio Margin (2026): Requirements & How It Works
— October 22, 2026 HyperliquidHyperliquid Prediction Markets (2026): HIP-4 Outcomes Explained
— October 22, 2026 HyperliquidWhat Is HyperEVM? HyperCore vs HyperEVM, Wallet & Transfers
— October 22, 2026Frequently asked questions
Which DEX has the lowest perpetual trading fees?
Lighter charges 0% maker and taker on its default Standard accounts. Hyperliquid charges 0.045% taker / 0.015% maker at the base tier, reducible with volume, HYPE staking (5–40% off) and a referral code (4% off). Aster charges 0% maker / 0.04% taker on its order-book perps. Fees verified September 2026.
Which DEX has the most liquidity?
Hyperliquid. As of November 3, 2026 it lists 179 perpetual markets and clears roughly $4–8 billion of perp volume per day (about $8B on Sep 19 and $4.5B on Sep 20, 2026) — more than any other on-chain venue — so slippage on BTC, ETH and SOL is closest to a centralized exchange.
Do I need a crypto wallet to trade on a DEX?
Not necessarily. Hyperliquid and Aster both support email login and let you deposit USDC directly from a centralized exchange. A self-custody wallet such as Rabby or MetaMask gives you full control and works on all three exchanges.
How do referral codes on DEXs work?
The exchange shares part of your trading fees with the referrer and, on Hyperliquid, gives you a 4% discount on your first $25M of volume. On Hyperliquid, join through the referral link before you start trading: the app stops accepting a code once your account passes $10,000 of volume, and a code cannot be changed once set. Using ours costs you nothing and funds this site.
Ready to trade on Hyperliquid?
Join with code HOLYGRAIL for a 4% fee discount on your first $25M in volume.
How to join with HOLYGRAIL →We earn a share of trading fees from accounts that join through our codes. It never costs you more — the discount comes from the exchange's referral program.