Hyperliquid vs Fomo
Hyperliquid runs a perps order book with a 0.045% base taker fee. Fomo charges 0.5% per spot trade. Hyperliquid requires no KYC, while Fomo may ask for identity checks.
On-chain order-book perpetuals with wallet or email sign-in.
Social trading app: one USDC balance buys tokens on six chains, every trade shows up in a public feed, and a separate perps mode runs on Hyperliquid.
| Criterion | Hyperliquid | Fomo |
|---|---|---|
| Fee model | Order book | Per transaction |
| Base fee | 0.045% taker, 0.015% maker on perps | 0.5% per spot trade |
| KYC | No KYC | Checks may apply |
| Restricted countries | United States and Canada (partly) | Cuba, Congo - Kinshasa, Iran, and 10 more |
| Leverage | 3x to 40x by asset | Up to 40x on BTC, 10x on most altcoins |
| Markets | 100+ perpetual assets, plus spot | Tokens on six chains, perps on Hyperliquid and trade.xyz |
How Hyperliquid and Fomo compare
Every fact links to the page it comes from.
| Criterion | Hyperliquid | Fomo |
|---|---|---|
| Fees | 0.045%Taker fee, 0.015% maker. Base tier, standard perpetuals Tier 0 rates for standard perpetuals. Your tier follows 14-day volume, with spot volume counting double, and the staking and referral discounts multiply on top. HIP-3 markets and some quote assets use different rates, so check the fee shown before you confirm. | 0.5%Trading fee. Spot trades, perps listed separately Spot trades cost 0.50% each on every network. On Solana a small-order ladder applies below 190 USDC, and on the other chains you also pay the network fee shown in the quote. Tokens the app marks as low fee cost 0.05%. The perps mode charges 0.05% of position size per trade on top of Hyperliquid's fee and funding. Every fee is shown before you confirm, and the Terms let Fomo change fees at any time. |
| KYC | No KYC There is no identity verification step in the official interface. The Terms require a non-custodial wallet, and the onboarding guide covers wallet or email sign-in, then a deposit. Fiat deposits go through Swapped.com, a separate provider. | Checks may apply You sign up with an Apple ID, a Google account, or an email code, and Fomo creates a Solana wallet and an EVM wallet for you through Privy. There is no identity check to open the account or to trade, and the private keys can be exported from Settings at any time. Identity checks sit at the edges: the first withdrawal to a US bank account requires a government ID through Spritz, Fomo's payment partner. The Terms, dated August 17, 2026, reserve the right to require KYC for the perps mode, and the card and Apple Pay providers apply their own rules. |
| Country restrictions | 2+ countries restricted The Terms bar the US, Ontario, and any jurisdiction under applicable sanctions or export controls, including citizens of those jurisdictions wherever they live. The sanctioned jurisdictions are not listed. Outcome markets have a separate exclusion list. | 13+ countries restricted The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms. |
| Leverage | 3x to 40x by asset Maximum leverage is set per asset, from 3x to 40x, and you can choose any whole number up to the cap. Cross margin is the default, and isolated margin is available. Caps step down on large positions, for example BTC from 40x to 20x above $150M notional and ETH from 25x to 15x above $100M. Maintenance margin is half the initial margin at maximum leverage. | Up to 40x on BTC, 10x on most altcoins Leverage is picked in whole numbers up to a cap set per asset: 40x on BTC, 25x on ETH, 20x on SOL, and 10x on most altcoins. The caps for stock, index, and commodity perps are not published. Every position is isolated, so a liquidation costs only that position's margin, and you can add or remove margin on an open position. Collateral is USDC in a separate perps balance, moved in from the token balance (5 USDC minimum in, 2 USDC out), and the smallest position is 15 USDC notional. Liquidation, stop-loss, and take-profit all trigger on Hyperliquid's mark price, not the chart price. A triggered order fills as a market order with a 10% slippage allowance, and funding is paid or received every hour. The Terms warn that the protocol can auto-deleverage profitable positions and that non-crypto markets may lack an insurance fund. |
| Markets | 100+ perpetual assets, plus spot More than 100 crypto perpetual assets and a spot order book, plus builder-deployed (HIP-3) perpetual markets on other assets that carry their own fees and leverage limits. Order types: market, limit, stop and take-profit in market or limit form, trailing stop, chase, scale, and TWAP, with reduce-only, post-only, and immediate-or-cancel options. | Tokens on six chains, perps on Hyperliquid and trade.xyz Spot covers tokens on Solana, Base, BNB Chain, Monad, Ethereum, and Robinhood Chain, bought from one USDC balance with no bridging. The app labels each token verified, unverified, or with a warning, and Robinhood Chain carries Robinhood's US stock and ETF tokens, which are OTC derivatives issued by Robinhood Europe UAB rather than shares. Perps, launched June 11, 2026, cover everything listed on Hyperliquid and trade.xyz: crypto such as BTC, ETH, SOL, and HYPE, US stocks such as NVDA and GOOGL, the S&P 500, Nasdaq 100, Kospi 200, and Nikkei 225, oil, gold, silver, copper, and natural gas, and pre-IPO markets including SpaceX. Perps orders are market orders with optional stop-loss and take-profit, and spot trades are instant buys and sells at the quoted price. |
| Depositing | USDC, BTC, ETH, SOL and more The direct route is USDC on Arbitrum, which needs a little ETH for gas. The deposit screen also accepts USDC sent from Ethereum, Base, or Polygon, and BTC, ETH, SOL, AVAX, ZEC, and several other tokens through Unit, an independent team, and you then sell those for USDC on the spot market. Fiat deposits go through Swapped.com, also independent. Trading itself is gas-free. | Debit card, Apple Pay, Coinbase, or USDC on six chains The Deposit screen offers four routes, and not every account sees all of them. A bank-issued debit card funds the USDC cash balance within a few minutes. Prepaid cards, Cash App, Venmo, PayPal, Zelle, and Apple Cash are refused, and card availability follows the payment provider's country list. Apple Pay works two ways: on the card screen it funds the cash balance through Coinbase, with a weekly limit shown in the app, and Buy with Apple Pay purchases a single token directly through Crossmint, capped at 2,500 dollars a day. Pay with Coinbase draws on a Coinbase account. Crypto deposits take USDC on Solana, Base, BNB Chain, Monad, or Ethereum, and USDG on Robinhood Chain, which converts into the Solana USDC balance. The smallest deposit that credits is 15 USDC on Ethereum and 0.50 on Base, BNB Chain, Monad, and Robinhood Chain, with no minimum on Solana. The help center publishes no card fee. On the web you fund with crypto, and the web launch post says card and Apple Pay deposits are done in the mobile app. Help center: how to deposit fundsHelp center: depositing with a debit cardHelp center: do I need a Coinbase account to depositHelp center: why did my Apple Pay purchase fail (Crossmint, daily limit)Help center: depositing with crypto (USDC)Help center: deposit minimums by networkHelp center: unsupported payment methodsBlog: announcing fomo web |
| Withdrawing | $1 fee, about 5 minutes Withdrawing USDC to Arbitrum costs a flat $1, charged in USDC, and takes about five minutes. Validators sign the transfer, so you pay no Arbitrum gas. Other chains and assets use separate routes, and the withdrawal screen shows any gas fee before you confirm. Use Withdraw, not Send: Send only moves funds to another Hyperliquid account. | USDC out on six chains, US bank via Spritz You withdraw USDC from the cash balance to any wallet or exchange address on Solana, Base, BNB Chain, Monad, or Ethereum, or USDG on Robinhood Chain, choosing the network to match the destination. The help center lists no withdrawal fee for these. Bank withdrawals go through Spritz and reach US bank accounts only, after a one-time ID check: the minimum is 5 dollars, a regular transfer takes 1 to 3 business days, and a same-day Fast option, for requests between 9 AM and 5 PM Eastern on a business day, carries an extra fee that is not published. Anything other than USDC leaves only by exporting the private key into another wallet, positions under 2 USDC (5 on Ethereum) cannot be sold in the app, and perps collateral has to move back to the token balance first. Help center: withdrawing to an external walletHelp center: withdrawing to a centralized exchangeHelp center: withdrawing to your bank accountHelp center: how long does a bank withdrawal take (Spritz, minimum)Help center: how do I send tokens to another walletHelp center: small remaining balancesHelp center: managing your perps cash balance |
| Referral program | 4% fee discount Entering a code gives a 4% fee discount on your first $25M of volume, excluding vaults and sub-accounts. Referrers receive 10% of their referred users' fees. No ChainScouter code is active. | 10% off trading fees Signing up through another user's link, fomo.family/r/ followed by their username, takes 10% off trading fees, so the standard 0.50% rate becomes 0.45% on every trade. The code has to go in at signup, though support can attach one afterwards. The help center describes the discount against the spot rate and does not say whether it applies to perps. The referrer receives 25% of the referred user's trading fees, paid into their cash balance, except the referred user's first Solana buy. Creators can apply to a separate affiliate program whose commission tiers are not published. The Terms ban self-referral and let Fomo claw back rewards. No ChainScouter code is active. |
| Platform | Web, plus third-party mobile apps The official interface is the website. The onboarding guide lists third-party apps with iOS and Android builds (Based, Dexari, MetaMask, and Phantom) and a QR code flow that links a phone to a desktop wallet extension. | iOS, Android, and web Fomo is an iOS app (rated 18+ on the App Store, developer FOMO Labs Inc.), an Android app on Google Play, and, since April 29, 2026, a web app at fomo.family that shares the same account, balance, positions, and follows. You sign in with an Apple ID, a Google account, or an email code. On phones, Face ID or a fingerprint gates opening the app, withdrawals, and key exports. The app is built around a live feed of other users' trades and theses, a leaderboard ranked by realized and unrealized PnL, alerts when traders you follow buy or sell, and TradingView charts. There is no copy trading. Spot trades are instant buys and sells at the quoted price, and the help center documents no limit orders and no API. Perps trade from the same account with one-click orders and stop-loss and take-profit levels. |
Rates apply to the accounts and markets in each scope, before discounts. Network, funding, execution, and transfer costs are separate. A country missing from a restriction list is not confirmed eligible.
Questions about Hyperliquid and Fomo
Is Hyperliquid or Fomo cheaper?
Fomo's headline rate is for spot trades and Hyperliquid's for perps, so they do not line up. Network, funding, execution, and transfer costs are separate.
Hyperliquid: Base perpetual fees are 0.045% taker and 0.015% maker. Tier 0 rates for standard perpetuals. Your tier follows 14-day volume, with spot volume counting double, and the staking and referral discounts multiply on top. HIP-3 markets and some quote assets use different rates, so check the fee shown before you confirm.
Fomo: The standard trading fee is 0.5% per trade. Spot trades cost 0.50% each on every network. On Solana a small-order ladder applies below 190 USDC, and on the other chains you also pay the network fee shown in the quote. Tokens the app marks as low fee cost 0.05%. The perps mode charges 0.05% of position size per trade on top of Hyperliquid's fee and funding. Every fee is shown before you confirm, and the Terms let Fomo change fees at any time.
Do Hyperliquid and Fomo require KYC?
Hyperliquid requires no KYC, while Fomo may ask for identity checks.
Hyperliquid: There is no identity verification step in the official interface. The Terms require a non-custodial wallet, and the onboarding guide covers wallet or email sign-in, then a deposit. Fiat deposits go through Swapped.com, a separate provider.
Fomo: You sign up with an Apple ID, a Google account, or an email code, and Fomo creates a Solana wallet and an EVM wallet for you through Privy. There is no identity check to open the account or to trade, and the private keys can be exported from Settings at any time. Identity checks sit at the edges: the first withdrawal to a US bank account requires a government ID through Spritz, Fomo's payment partner. The Terms, dated August 17, 2026, reserve the right to require KYC for the perps mode, and the card and Apple Pay providers apply their own rules.
Can I use Hyperliquid or Fomo in the US?
Hyperliquid names the US as restricted. Fomo: Spot only, with perps and stock tokens barred.
Hyperliquid: The Terms bar the US, Ontario, and any jurisdiction under applicable sanctions or export controls, including citizens of those jurisdictions wherever they live. The sanctioned jurisdictions are not listed. Outcome markets have a separate exclusion list.
Fomo: The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms.
What leverage do Hyperliquid and Fomo offer?
Hyperliquid: Maximum leverage is set per asset, from 3x to 40x, and you can choose any whole number up to the cap. Cross margin is the default, and isolated margin is available. Caps step down on large positions, for example BTC from 40x to 20x above $150M notional and ETH from 25x to 15x above $100M. Maintenance margin is half the initial margin at maximum leverage.
Fomo: Leverage is picked in whole numbers up to a cap set per asset: 40x on BTC, 25x on ETH, 20x on SOL, and 10x on most altcoins. The caps for stock, index, and commodity perps are not published. Every position is isolated, so a liquidation costs only that position's margin, and you can add or remove margin on an open position. Collateral is USDC in a separate perps balance, moved in from the token balance (5 USDC minimum in, 2 USDC out), and the smallest position is 15 USDC notional. Liquidation, stop-loss, and take-profit all trigger on Hyperliquid's mark price, not the chart price. A triggered order fills as a market order with a 10% slippage allowance, and funding is paid or received every hour. The Terms warn that the protocol can auto-deleverage profitable positions and that non-crypto markets may lack an insurance fund.
What can I trade on Hyperliquid and Fomo?
Hyperliquid: More than 100 crypto perpetual assets and a spot order book, plus builder-deployed (HIP-3) perpetual markets on other assets that carry their own fees and leverage limits. Order types: market, limit, stop and take-profit in market or limit form, trailing stop, chase, scale, and TWAP, with reduce-only, post-only, and immediate-or-cancel options.
Fomo: Spot covers tokens on Solana, Base, BNB Chain, Monad, Ethereum, and Robinhood Chain, bought from one USDC balance with no bridging. The app labels each token verified, unverified, or with a warning, and Robinhood Chain carries Robinhood's US stock and ETF tokens, which are OTC derivatives issued by Robinhood Europe UAB rather than shares. Perps, launched June 11, 2026, cover everything listed on Hyperliquid and trade.xyz: crypto such as BTC, ETH, SOL, and HYPE, US stocks such as NVDA and GOOGL, the S&P 500, Nasdaq 100, Kospi 200, and Nikkei 225, oil, gold, silver, copper, and natural gas, and pre-IPO markets including SpaceX. Perps orders are market orders with optional stop-loss and take-profit, and spot trades are instant buys and sells at the quoted price.
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