Hyperliquid spreads and order-book depth

KuCoin has the tightest measured spread on Hyperliquid right now, at <$0.01 per HYPE (0.119 bps) on HYPE/USDT, sampled 1 hour ago. RampAtlas reads 11 venues' public order books for HYPE every two hours and reports the spread, the resting depth within 1% of the mid, and what a market buy of $500, $5,000 or $50,000 would pay above the mid.

Verified How we verify

Where HYPE trades tightest

ExchangePairSpread24h medianBid depth 1%Ask depth 1%$500 buy$5,000 buy$50,000 buySampled
KuCoinHYPE/USDT<$0.010.119 bps0.119 bps——0.282 bps1.62 bps8.61 bps1 hour ago
BitgetHYPE/USDT$0.010.951 bps0.714 bps——0.725 bps2.17 bps5.12 bps1 hour ago
KrakenHYPE/USD$0.011.19 bps1.19 bps$1.8M$1.4M0.594 bps1.63 bps2.63 bps1 hour ago
GateHYPE/USDT$0.011.19 bps1.19 bps$336,914$344,4810.594 bps2.15 bps8.87 bps1 hour ago
BitvavoHYPE/EUR$0.011.52 bps3.21 bps$338,391$280,4710.759 bps2.08 bps5.96 bps1 hour ago
MEXCHYPE/USDT$0.022.38 bps3.53 bps$174,422$89,1645.10 bps6.92 bps12.0 bps1 hour ago
Coinbase ExchangeHYPE/USD$0.022.38 bps2.36 bps$746,869$505,2991.19 bps1.19 bps3.61 bps1 hour ago
Binance USHYPE/USD$0.044.75 bps5.88 bps$97,194$66,3032.38 bps6.04 bps23.1 bps1 hour ago
OKXHYPE/USD$0.1315.7 bps16.4 bps$16,901$12,0408.69 bps13.8 bps2,581 bps1 hour ago
Crypto.com ExchangeHYPE/USD$0.1720.5 bps26.5 bps$39,609$25,25910.3 bps18.4 bps793 bps1 hour ago
BybitHYPE/USDTnot measured——————1 hour ago

Spread is the latest reading, shown as what crossing it costs on one HYPE and as a share of the mid in basis points; the median column is over the last 24 hours. Depth is the notional value of resting orders within 1% of the mid on each side, converted to US dollars. Slippage is what a market buy of that size would pay above the mid on the book we read, and is blank where the visible book could not fill it.

  • KuCoin (HYPE/USDT): Quoted in USDT, counted at one US dollar. The 1% band runs past the last level the venue served, so depth is reported as not measured.
  • Bitget (HYPE/USDT): Quoted in USDT, counted at one US dollar. The 1% band runs past the last level the venue served, so depth is reported as not measured.
  • Gate (HYPE/USDT): Quoted in USDT, counted at one US dollar.
  • Bitvavo (HYPE/EUR): Quoted in EUR; USD figures use this book's own mid against the asset's snapshot US dollar price.
  • MEXC (HYPE/USDT): Quoted in USDT, counted at one US dollar.
  • Bybit: not measured on the last run — blocked: The venue refused the request (HTTP 403); it does not serve RampAtlas's servers.

Spread history

HYPE spread over the last 7 daysOne panel per venue. Each point is a single order-book read; the vertical scale is that venue's own range, so panels show shape rather than comparing venues to one another. Compare levels in the table above.

  • KuCoin

    HYPE/USDT · 0.115 bps–1.42 bps

    Sep 20.119 bpsSep 2: 0.123 bpsSep 2: 0.123 bpsSep 2: 0.123 bpsSep 2: 0.246 bpsSep 3: 0.122 bpsSep 3: 1.10 bpsSep 3: 0.486 bpsSep 3: 1.22 bpsSep 3: 0.122 bpsSep 3: 0.367 bpsSep 3: 0.122 bpsSep 3: 1.21 bpsSep 3: 1.42 bpsSep 3: 0.119 bpsSep 3: 0.117 bpsSep 3: 0.468 bpsSep 4: 0.457 bpsSep 4: 0.917 bpsSep 4: 0.574 bpsSep 4: 1.16 bpsSep 4: 0.580 bpsSep 4: 0.115 bpsSep 4: 0.115 bpsSep 4: 0.235 bpsSep 4: 0.118 bpsSep 4: 0.118 bpsSep 4: 0.118 bpsSep 4: 0.477 bpsSep 5: 0.118 bpsSep 5: 0.119 bpsSep 5: 0.119 bpsSep 5: 0.119 bps

  • Bitget

    HYPE/USDT · 0.115 bps–2.18 bps

    Sep 20.951 bpsSep 2: 0.123 bpsSep 2: 0.123 bpsSep 2: 0.737 bpsSep 2: 0.491 bpsSep 3: 1.83 bpsSep 3: 1.59 bpsSep 3: 0.243 bpsSep 3: 0.122 bpsSep 3: 0.975 bpsSep 3: 0.245 bpsSep 3: 0.122 bpsSep 3: 1.81 bpsSep 3: 1.42 bpsSep 3: 1.90 bpsSep 3: 1.63 bpsSep 3: 0.702 bpsSep 4: 0.914 bpsSep 4: 2.18 bpsSep 4: 0.115 bpsSep 4: 0.580 bpsSep 4: 1.74 bpsSep 4: 1.04 bpsSep 4: 0.115 bpsSep 4: 1.29 bpsSep 4: 0.118 bpsSep 4: 0.118 bpsSep 4: 2.00 bpsSep 4: 1.19 bpsSep 5: 0.118 bpsSep 5: 0.119 bpsSep 5: 0.476 bpsSep 5: 0.951 bps

  • Kraken

    HYPE/USD · 1.14 bps–4.77 bps

    Sep 21.19 bpsSep 2: 1.23 bpsSep 2: 1.23 bpsSep 2: 2.46 bpsSep 2: 1.23 bpsSep 3: 1.22 bpsSep 3: 1.23 bpsSep 3: 1.21 bpsSep 3: 1.22 bpsSep 3: 1.22 bpsSep 3: 2.45 bpsSep 3: 1.22 bpsSep 3: 2.41 bpsSep 3: 3.55 bpsSep 3: 1.19 bpsSep 3: 2.33 bpsSep 3: 2.34 bpsSep 4: 1.14 bpsSep 4: 2.29 bpsSep 4: 2.29 bpsSep 4: 1.16 bpsSep 4: 2.32 bpsSep 4: 2.30 bpsSep 4: 1.15 bpsSep 4: 3.53 bpsSep 4: 2.36 bpsSep 4: 1.18 bpsSep 4: 1.18 bpsSep 4: 4.77 bpsSep 5: 1.18 bpsSep 5: 1.19 bpsSep 5: 1.19 bpsSep 5: 1.19 bps

  • Gate

    HYPE/USDT · 1.14 bps–3.55 bps

    Sep 21.19 bpsSep 2: 2.46 bpsSep 2: 1.23 bpsSep 2: 1.23 bpsSep 2: 1.23 bpsSep 3: 1.22 bpsSep 3: 1.22 bpsSep 3: 1.21 bpsSep 3: 1.22 bpsSep 3: 2.44 bpsSep 3: 1.22 bpsSep 3: 1.22 bpsSep 3: 1.21 bpsSep 3: 3.55 bpsSep 3: 2.38 bpsSep 3: 2.33 bpsSep 3: 1.17 bpsSep 4: 1.14 bpsSep 4: 2.29 bpsSep 4: 1.15 bpsSep 4: 2.32 bpsSep 4: 2.32 bpsSep 4: 1.15 bpsSep 4: 1.15 bpsSep 4: 2.35 bpsSep 4: 1.18 bpsSep 4: 1.18 bpsSep 4: 2.36 bpsSep 4: 1.19 bpsSep 5: 1.18 bpsSep 5: 1.19 bpsSep 5: 1.19 bpsSep 5: 1.19 bps

  • Bitvavo

    HYPE/EUR · 0.141 bps–6.03 bps

    Sep 21.52 bpsSep 2: 1.71 bpsSep 2: 1.14 bpsSep 2: 0.997 bpsSep 2: 0.712 bpsSep 3: 2.97 bpsSep 3: 4.11 bpsSep 3: 0.986 bpsSep 3: 3.25 bpsSep 3: 3.68 bpsSep 3: 2.56 bpsSep 3: 0.141 bpsSep 3: 6.03 bpsSep 3: 3.16 bpsSep 3: 3.18 bpsSep 3: 1.63 bpsSep 3: 0.953 bpsSep 4: 3.85 bpsSep 4: 2.27 bpsSep 4: 4.53 bpsSep 4: 2.83 bpsSep 4: 2.29 bpsSep 4: 3.88 bpsSep 4: 3.60 bpsSep 4: 2.87 bpsSep 4: 2.19 bpsSep 4: 3.01 bpsSep 4: 3.42 bpsSep 4: 3.46 bpsSep 5: 2.61 bpsSep 5: 3.87 bpsSep 5: 4.01 bpsSep 5: 1.52 bps

  • MEXC

    HYPE/USDT · 1.18 bps–8.12 bps

    Sep 22.38 bpsSep 2: 1.23 bpsSep 2: 3.68 bpsSep 2: 3.69 bpsSep 2: 4.91 bpsSep 3: 3.67 bpsSep 3: 2.45 bpsSep 3: 3.64 bpsSep 3: 7.30 bpsSep 3: 3.66 bpsSep 3: 3.67 bpsSep 3: 2.44 bpsSep 3: 4.83 bpsSep 3: 4.73 bpsSep 3: 2.38 bpsSep 3: 3.50 bpsSep 3: 2.34 bpsSep 4: 4.57 bpsSep 4: 3.44 bpsSep 4: 3.44 bpsSep 4: 3.48 bpsSep 4: 8.12 bpsSep 4: 2.30 bpsSep 4: 3.44 bpsSep 4: 3.53 bpsSep 4: 4.72 bpsSep 4: 3.53 bpsSep 4: 1.18 bpsSep 4: 3.57 bpsSep 5: 1.18 bpsSep 5: 4.76 bpsSep 5: 3.57 bpsSep 5: 2.38 bps

  • Coinbase Exchange

    HYPE/USD · 1.14 bps–3.66 bps

    Sep 22.38 bpsSep 2: 1.23 bpsSep 2: 2.46 bpsSep 2: 2.46 bpsSep 2: 2.46 bpsSep 3: 2.44 bpsSep 3: 2.45 bpsSep 3: 1.21 bpsSep 3: 2.43 bpsSep 3: 3.66 bpsSep 3: 1.22 bpsSep 3: 2.44 bpsSep 3: 2.41 bpsSep 3: 3.55 bpsSep 3: 1.19 bpsSep 3: 1.16 bpsSep 3: 3.51 bpsSep 4: 1.14 bpsSep 4: 1.15 bpsSep 4: 1.15 bpsSep 4: 1.16 bpsSep 4: 2.32 bpsSep 4: 2.30 bpsSep 4: 2.29 bpsSep 4: 3.53 bpsSep 4: 1.18 bpsSep 4: 2.35 bpsSep 4: 2.36 bpsSep 4: 2.38 bpsSep 5: 2.37 bpsSep 5: 2.38 bpsSep 5: 2.38 bpsSep 5: 2.38 bps

  • Binance US

    HYPE/USD · 1.15 bps–8.60 bps

    Sep 24.75 bpsSep 2: 7.37 bpsSep 2: 7.37 bpsSep 2: 7.37 bpsSep 2: 8.60 bpsSep 3: 6.11 bpsSep 3: 4.90 bpsSep 3: 7.29 bpsSep 3: 4.87 bpsSep 3: 2.44 bpsSep 3: 6.12 bpsSep 3: 3.65 bpsSep 3: 6.03 bpsSep 3: 5.91 bpsSep 3: 4.76 bpsSep 3: 5.82 bpsSep 3: 2.34 bpsSep 4: 6.85 bpsSep 4: 5.73 bpsSep 4: 3.44 bpsSep 4: 4.64 bpsSep 4: 4.64 bpsSep 4: 2.30 bpsSep 4: 1.15 bpsSep 4: 5.88 bpsSep 4: 5.91 bpsSep 4: 5.88 bpsSep 4: 5.89 bpsSep 4: 4.76 bpsSep 5: 8.29 bpsSep 5: 7.14 bpsSep 5: 7.15 bpsSep 5: 4.75 bps

  • OKX

    HYPE/USD · 11.1 bps–28.8 bps

    Sep 215.7 bpsSep 2: 17.3 bpsSep 2: 15.5 bpsSep 2: 15.1 bpsSep 2: 12.4 bpsSep 3: 16.9 bpsSep 3: 14.1 bpsSep 3: 15.5 bpsSep 3: 18.5 bpsSep 3: 14.8 bpsSep 3: 18.6 bpsSep 3: 11.1 bpsSep 3: 20.8 bpsSep 3: 19.7 bpsSep 3: 21.4 bpsSep 3: 19.2 bpsSep 3: 13.8 bpsSep 4: 28.8 bpsSep 4: 17.9 bpsSep 4: 14.6 bpsSep 4: 15.1 bpsSep 4: 17.2 bpsSep 4: 20.3 bpsSep 4: 13.2 bpsSep 4: 17.3 bpsSep 4: 14.3 bpsSep 4: 14.4 bpsSep 4: 18.8 bpsSep 4: 18.0 bpsSep 5: 23.1 bpsSep 5: 11.4 bpsSep 5: 11.3 bpsSep 5: 15.7 bps

  • Crypto.com Exchange

    HYPE/USD · 17.0 bps–200 bps

    Sep 220.5 bpsSep 2: 24.4 bpsSep 2: 24.9 bpsSep 2: 17.0 bpsSep 2: 24.9 bpsSep 3: 24.7 bpsSep 3: 23.8 bpsSep 3: 26.1 bpsSep 3: 25.7 bpsSep 3: 24.4 bpsSep 3: 152 bpsSep 3: 200 bpsSep 3: 137 bpsSep 3: 197 bpsSep 3: 137 bpsSep 3: 115 bpsSep 3: 73.3 bpsSep 4: 103 bpsSep 4: 187 bpsSep 4: 150 bpsSep 4: 84.0 bpsSep 4: 118 bpsSep 4: 157 bpsSep 4: 154 bpsSep 4: 27.2 bpsSep 4: 26.4 bpsSep 4: 26.0 bpsSep 4: 26.6 bpsSep 4: 26.7 bpsSep 5: 25.1 bpsSep 5: 24.3 bpsSep 5: 25.0 bpsSep 5: 20.5 bps

Method

Pairs are fixed per venue so each series measures the same book over time: the quote currency is chosen once, preferring US dollars, then dollar stablecoins, then euros or the venue's home currency. A non-dollar book's depth is converted using that book's own mid against HYPE's snapshot US dollar price.

Frequently Asked Questions

Which exchange has the tightest HYPE spread?
KuCoin, at <$0.01 per HYPE (0.119 bps) on HYPE/USDT as of the sample taken 1 hour ago. Spreads move, so this page is re-measured every two hours.
Does a tighter spread mean HYPE is cheaper to buy there?
Only in part. The spread is one of three costs: the trading fee, the spread you cross, and the deposit or card fee that got your money onto the venue. The fee pages put all three together for a given purchase size, and use the measured spread on this page wherever we have one.
What does 1% depth tell me?
It is the dollar value of orders resting within 1% of the mid price on one side of the book. A venue with a tight spread but shallow depth will still move against a large order — which is why the table also shows what $500, $5,000 and $50,000 market buys would pay.

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