Hyperliquid vs GMGN

Hyperliquid

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.

GMGN

Every spot trade pays GMGN a flat 1% of its value on every chain, and copied trades and automated orders pay the same. Network costs come on top: gas plus the priority fee and tip you set on Solana, and gas on the EVM chains. Launchpad fees and token taxes apply where a token has them. The perps beta charges 0.015% maker and 0.045% taker. The Terms let GMGN change fees at any time, effective when posted, and authorize it to take fees straight from your wallet.

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.

GMGN

You sign up with Google, an email code, Telegram, or a browser wallet such as Phantom or MetaMask, with an optional invite code, and no identity document is asked for. The Terms and the Privacy Policy, both dated December 6, 2024, reserve no identity check. The policy lists wallet addresses, public on-chain data, a Telegram handle, contact details you choose to give, and usage data down to country-level location. Withdrawals need two-factor authentication, an account-security step rather than an identity check. Card purchases run through MoonPay or Onramper under those providers' own rules.

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.

GMGN

The Terms, dated December 6, 2024, bar anyone in, under the control of, or a national or resident of Afghanistan, Cuba, Iran, North Korea, or Syria, and anyone on the UN, US OFAC, or EU sanctions lists, and require users to be 18. They say GMGN runs the service from the British Virgin Islands, that users anywhere else are responsible for their own local law, and that GMGN may suspend anyone for any reason. The terms linked from the iOS app's store listing, dated January 1, 2025, name the same five countries. Neither version mentions the perps beta.

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.

GMGN

The perps beta, open since September 21, 2026, sets a cap per market in GMGN's published risk table. BTC goes to 40x, and ETH, gold, silver, and the QQQ and SPY funds to 25x. SOL, XRP, Brent oil, and stocks such as Apple, Nvidia, and Tesla go to 20x, most other markets to 10x, and six others to 5x. Each cap steps down as a position grows, so BTC drops to 20x above 12 million USDC of notional. Spot trading has no leverage.

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.

GMGN

Spot trading covers tokens on Solana, BNB Chain, Robinhood Chain, Base, Ethereum, Arbitrum, Stable, Arc, X Layer, HyperEVM, MegaETH, Monad, and Tron, as listed in the chain selector on September 26, 2026. The Trenches view follows new launches on launchpads such as Pump.fun, letsbonk, and Four.meme from creation through migration. Spot orders include market buys and sells, limit orders that expire after 1 hour, 24 hours, or 3 days, take-profit and stop-loss with trailing versions, buys and sells triggered by a migration, sells triggered by the developer selling, and wallet copy trading. The docs describe copy trading and auto-buy for Solana only. The perps beta lists 57 USDC-margined markets in GMGN's market data on September 26, 2026: 24 crypto, 30 stocks and ETFs, and gold, silver, and Brent oil.

Hyperliquid

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.

GMGN

Signing in with Google, email, Telegram, or Phantom gives you GMGN-held wallets on each chain, funded by sending that chain's gas token, such as SOL, ETH, BNB, or TRX, to the address on the Deposit/Withdraw page. A deposit on the wrong network cannot be recovered. With an extension wallet connected, the same page moves funds across in one step, or you can trade from the extension wallet itself without GMGN's automation. The web app's Buy option takes a credit or debit card or Apple Pay through MoonPay, and the mobile app buys SOL, ETH, BNB, or USDC with local currency through Onramper in 59 countries and regions, each under the provider's own fees and checks. Convert moves funds between chains, and stablecoins sent by mistake can be sold for the chain's own token.

Hyperliquid

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.

GMGN

The Telegram bots cannot withdraw and send you to the website instead. You first bind two-factor authentication with Google Authenticator or a passkey, and withdrawals stay locked for 3 hours after binding it, 24 hours after unbinding or re-binding it, and 24 hours after a password reset. Transfers go to a whitelisted address, which takes 3 hours to activate after it is set or changed and then skips the 2FA prompt. A small balance must stay behind for rent and gas, and GMGN publishes no withdrawal fee beyond the network fee. Memecoins leave through the multi-wallet Consolidate and Distribute tools, which also need 2FA and list only tokens worth more than $10. GMGN's docs say the keys of GMGN-created wallets cannot be exported, while the current web app offers a one-time key download from a computer once 2FA is active. Imported wallets are excluded.

Hyperliquid

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.

GMGN

GMGN pays referrers 10% to 30% of the trading fees of the people they bring in, rising with the volume referred, and a referrer can apply for a higher rate. One code covers the website and every bot, and an invite code entered at signup cannot be changed. Neither the docs nor the Terms publish a fee discount for the person who signs up. The Terms, dated December 6, 2024, limit referral links to people the referrer knows personally, bar posting them on websites, blogs, X, Reddit, or coupon sites, and let GMGN change, suspend, or void rewards at its discretion. No ChainScouter code is active.

Hyperliquid

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.

GMGN

GMGN runs as a browser terminal at gmgn.ai, as a mobile app listed on the App Store as GMGN - Meme Track (published by GraceMatrix Technologies Limited since June 2025) and on Google Play as GMGN (published by GMGN Labs Limited), with a TestFlight build and a direct APK download also linked from gmgn.ai/app, and as a set of per-chain Telegram trading bots such as @GMGN_sol_bot. The web terminal holds the Trenches launch feed, trending lists, wallet and X trackers, copy trading, a portfolio view, and the perps beta, and an Agent API lets scripts and AI assistants read data and place trades with an API key. Support runs through the official Telegram group and the @gmgnai account on X.