Hyperliquid Alternatives: Similar Derivatives Protocols Compared

Hyperliquid carries a risk grade of C- (56/100) and ranks #54 of 56 rated Derivatives protocols. Below are 55 Derivatives protocols ranked by safety — from safest to riskiest. 53 of these protocols score lower (safer) than Hyperliquid, and 2 score higher (riskier).

The single safest alternative is Toros (B, 26/100 — 30 points safer than Hyperliquid). See the Hyperliquid vs Toros comparison to weigh the tradeoffs.

Current Protocol

Derivatives

Risk

C-

Value

B-

TVL

$5.2B

Safety analysis →Investment analysis →

AlternativeRiskValueTVL

1

TorosSafer

B

D

$8M

2

B-

D+

$9M

3

B-

C-

$39M

4

B-

D-

$7M

5

Drift ProtocolSafer

B-

B-

$6M

6

B-

D+

$524,000

7

B-

B

$102M

8

Contango V2Safer

B-

D-

$6M

9

Helix PerpSafer

B-

C+

$465,000

10

B-

D

$61M

11

BorosSafer

B-

B

$10M

12

B-

D+

$153M

13

B-

C+

$18M

14

B-

D+

$50M

15

B-

C+

$131M

16

Predict FunSafer

B-

D-

$10M

17

C+

C-

$35M

18

C+

B-

$19M

19

C+

C-

$46M

20

MoonlanderSafer

C+

D

$32M

21

Synthetix V3Safer

C+

C+

$41M

22

HegicSafer

C+

C-

$10M

23

Kinetiq MarketsSafer

C+

D

$32M

24

FlashTradeSafer

C+

C-

$10M

25

C+

C

$6M

26

Vest MarketsSafer

C+

D-

$1M

27

C+

D

$31M

28

ParclSafer

C+

D-

$4M

29

Fulcrom PerpsSafer

C+

C-

$13M

30

Gains NetworkSafer

C+

B-

$14M

31

C+

C

$43M

32

Level FinanceSafer

C+

D

$588,000

33

edgeXSafer

C+

C

$353M

34

Ethereal DEXSafer

C+

D+

$30M

35

Reya PerpsSafer

C+

D

$13M

36

C+

C+

$100M

37

C

C-

$44M

38

GRVTSafer

C

C

$120M

39

Jupiter Perpetual ExchangeSafer

C

B

$639M

40

MYX FinanceSafer

C

D

$200,000

41

C

D

$7M

42

C

D

$9M

43

SynFutures V3Safer

C

C-

$6M

44

ELFi ProtocolSafer

C

D+

$3M

45

Storm TradeSafer

C

D+

$6M

46

C

C+

$131M

47

GMXSafer

C

B-

$191M

48

C

B-

$196M

49

Hyperliquid HLPSafer

C

B

$375M

50

AevoSafer

C-

D+

$16M

51

C-

D+

$40M

52

C-

C

$3M

53

Thetanuts FinanceSafer

C-

B-

$668,000

54

C-

D

$1M

55

D+

D-

$2M

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