VS
Hyperliquid vs Gains (gTrade)
The overall perps leader against a synthetic-market specialist. A neutral comparison.
| Feature | Hyperliquid | Gains (gTrade) |
|---|---|---|
| Chain | Hyperliquid L1 | Arbitrum / Polygon |
| Trading model | On-chain CLOB | Synthetic DAI vault |
| 24h volume | $8.5B | $180M |
| Open interest | $4.2B | $85M |
| Taker fee (from) | 0.035% | ~0.06% |
| Markets | ~150 | 250+ |
| Token | HYPE | GNS |
| Best for | Active traders | Forex & exotic markets |
| Non-custodial | Yes | Yes |
The short version
Hyperliquid is the volume leader with an on-chain order book covering crypto perps, while Gains (gTrade) specialises in synthetic markets — forex, commodities and crypto — traded against its DAI vault on Arbitrum and Polygon.
Hyperliquid dominates on crypto liquidity and volume; Gains' niche is breadth of non-crypto markets and high leverage on exotics.
Which should you use?
Choose Hyperliquid for deep crypto-perp trading. Choose Gains if you specifically want forex, commodities or exotic synthetic markets.
Verdict
Hyperliquid wins on crypto depth and volume; Gains wins on non-crypto market breadth.