Comparison
dYdX vs Hyperliquid
dYdX and Hyperliquid are two of the leading on-chain perpetuals exchanges, and Coinner runs the same Grid, DCA, copy, and TradingView bots on both. Both run a fully on-chain order book with self-custody, and both are primarily crypto venues that also list some non-crypto perps: dYdX via permissionless listings (WTI oil, gold, SPX, TSLA, EUR), Hyperliquid via builder-deployed HIP-3 markets (equity and commodity perps). Coinner runs bots on the perpetual markets of each, not spot. The differences that matter for bot traders are how you connect, how open-order limits are enforced, and the sign-up incentives. Here is how they compare.
Side by side
How they compare
| Feature | dYdX | Hyperliquid |
|---|---|---|
| Chain | Cosmos app-chain (dYdX v4) | Hyperliquid L1 (HyperBFT) |
| Order book | Fully on-chain CLOB, run by every validator | Fully on-chain CLOB, gasless orders |
| Exchange lists | Mostly crypto perps, plus permissionlessly-listed commodity, equity & FX perps (WTI oil, gold, SPX, TSLA, EUR) | Crypto perps, builder-deployed equity & commodity perps (HIP-3), spot |
| Coinner runs bots on | Any dYdX perp (crypto plus the commodity/equity/FX markets) | Perps only (crypto + equity/commodity); not spot |
| Markets | 290+ perpetuals (mostly crypto; also WTI, XAU, SPX, TSLA, EUR) | 200+ perpetuals (mostly crypto; HIP-3 equity & commodity perps) |
| Collateral | USDC | USDC |
| Max leverage | Up to 50x | Up to 40x |
| How Coinner connects | Trade-only API keys | On-chain agent-wallet approval |
| Custody | Funds stay in your account | Funds stay in your account |
| Withdraw permission | Never granted | Never granted |
| Order limits | Equity-tier order budget (scales with balance) | Flat account-wide order cap |
| Base fees | 0.05% taker / 0.01% maker (0.04% / 0.005% via Coinner referral) | 0.045% taker / 0.015% maker (4% off via Coinner referral) |
| Bots on Coinner | Grid, DCA, Copy, TradingView | Grid, DCA, Copy, TradingView |
| Copy-trading leaderboard | Yes | Yes |
| Sign-up reward | Up to $550 in fee discounts | 4% off trading fees |
| Cost on Coinner | Free (builder-code fee share) | Free (referral commission share) |
Verdict
Which should you choose?
Both are excellent self-custodial venues for automated trading, and Coinner treats them identically at the strategy level, and both discount your fees for signing up through Coinner. Choose dYdX if you want trade-only API keys, an equity-tier order budget that rewards larger balances with denser grids, and up to $550 in fee discounts. Choose Hyperliquid if you prefer a one-time on-chain agent-wallet approval, its sub-second execution profile, and 4% off your trading fees for signing up through Coinner. Many traders run bots on both from a single Coinner account.
FAQ
Frequently asked questions
Can I run the same bot on dYdX and Hyperliquid?
Yes. Coinner runs the same Grid, DCA, copy, and TradingView bots on both venues, and you can connect accounts on each from one Coinner login.
Which is safer for bots?
Both keep your funds self-custodial. dYdX uses trade-only API keys and Hyperliquid uses an on-chain agent wallet; neither can withdraw or transfer your funds.
Is dYdX or Hyperliquid cheaper?
Base fees are close: dYdX is 0.05% taker / 0.01% maker and Hyperliquid is 0.045% taker / 0.015% maker, both scaling down with volume. Both discount fees for accounts opened through Coinner: dYdX starts you at Tier 3 (0.04% taker / 0.005% maker, no volume needed) and Hyperliquid takes 4% off your trading fees. dYdX is usually cheaper to start on, but the gap is small.
Do open-order limits differ?
Yes. dYdX caps open orders by an equity tier, so adding balance unlocks denser grids. Hyperliquid uses a flat account-wide cap, so Coinner applies a fixed per-bot ceiling instead.
Run bots on both
Connect dYdX and Hyperliquid from one Coinner account and trade smarter.