ArbiLayer

KCEX vs Hyperliquid

Fees, coins, new listings, perp prices and safety of KCEX and Hyperliquid, side by side.

KCEX logo

KCEX

Centralized exchange · since 2021

Seychelles-registered offshore exchange known for zero-fee spot trading and high-leverage perpetual futures.

New users: Task-based welcome rewards in USDT (futures bonus)

Claim on KCEX ↗
Hyperliquid logo

Hyperliquid

Perp DEX · since 2022

Perpetual and spot order-book exchange running on its own Layer 1 blockchain (HyperCore and HyperEVM).

New users: Referral code gives a 4% fee discount on the first $25M of volume

Claim on Hyperliquid ↗
KCEXHyperliquid
Trading fees (base tier)
Spot maker0%0.04%
Spot taker0%0.07%
Futures maker0%0.015%
Futures taker0.01%0.045%
Markets (live)
Coins listed1,233458
Coins with perpetuals822178
Coins with spot pairs852290
24h volume$19.49B$6.12B
Coins only here216 coins trade on both1,017242
New listings (detected live)
Last 30 days250
Last 90 days250
Safety and access
Proof of reservesNot publishedYes · real-time
LicensesNone listedNone listed
Restricted regions15 regionsUnited States, Canada, Mainland China, Hong Kong, Singapore…8 regionsUnited States, Ontario (Canada), Cuba, Iran, Syria…
HeadquartersMahe, Seychelles (Eden Plaza, Eden Island)No official HQ disclosed (developed by Hyperliquid Labs)
Exchange token—HYPE
Incidents on record02
Highlighted = better on that line. Fees are base-tier rates before VIP and token discounts. Markets and listings are counted live from exchange APIs.

Top coins only on KCEX

Top coins only on Hyperliquid

KCEX or Hyperliquid?

KCEX and Hyperliquid are compared here on what matters when you choose where to trade: base trading fees, how many coins each lists, how quickly they add new ones, perpetual prices and funding on the coins both list, and safety signals such as proof of reserves and restricted regions. Live numbers update from the exchanges' public market data; fees and policies were checked against each exchange's own pages.

KCEX lists 1,233 coins and Hyperliquid 458. 216 coins trade on both, 1,017 only on KCEX and 242 only on Hyperliquid. In the last 30 days KCEX added 25 new coins and Hyperliquid 0.

Fees above are base-tier rates before VIP levels and token discounts; KCEX offers 2 discount options and Hyperliquid offers 5 discount options. Availability depends on where you live, so check the restricted regions before signing up.

Which has lower fees, KCEX or Hyperliquid?

At the base tier, spot taker fees are 0% on KCEX and 0.07% on Hyperliquid; futures taker fees are 0.01% and 0.045%. VIP tiers and token discounts lower both.

Which lists more coins, KCEX or Hyperliquid?

KCEX lists 1,233 coins and Hyperliquid 458. 216 coins trade on both exchanges.

Which adds new coins faster?

In the last 30 days ArbiLayer detected 25 new coins on KCEX and 0 on Hyperliquid.

Do KCEX and Hyperliquid publish proof of reserves?

KCEX: not published. Hyperliquid: yes.

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