Hyperliquid Tops Binance in BTC Liquidity
Hyperliquid beats Binance with the deepest BTC top-of-book liquidity at ±1bps, according to Blockworks research.
- Hyperliquid shows $3.1M BTC depth, beating Binance’s $2.3M
- HIP-3 silver market depth also surpasses Binance’s
- Liquidity milestone positions Hyperliquid as a serious contender
In a significant development for crypto markets, Hyperliquid has overtaken Binance in top-of-book liquidity, becoming a standout player in terms of market depth. According to data shared by Blockworks researcher Shaunda Devens, Hyperliquid’s performance at the tightest trading spread is currently unmatched.
$3.1M BTC Depth at ±1bps
At ±1 basis point (bps) from the mid-price, Hyperliquid now holds $3.1 million in resting Bitcoin (BTC) order book depth—eclipsing Binance’s $2.3 million. This metric reflects how much BTC is available for immediate trading at the best possible price without significantly impacting the market.
This achievement is especially notable as liquidity at such a tight spread is crucial for traders seeking minimal slippage. Hyperliquid’s ability to offer deep liquidity at this level signals a robust and well-optimized trading environment.
HIP-3 Silver Market Also Beats Binance
It’s not just BTC where Hyperliquid is outperforming. Its HIP-3 silver market has also outpaced Binance, showing $33,000 in resting depth compared to Binance’s $24,000—again at the tightest level of ±1bps.
These numbers suggest Hyperliquid is making strategic moves to attract both retail and institutional traders by focusing on precision, speed, and liquidity.
A New Contender in Crypto Market Depth
Hyperliquid has made this progress quietly, without major announcements or marketing campaigns, but the data speaks volumes. By surpassing Binance—a long-standing leader in liquidity—Hyperliquid signals its capability to support high-frequency and large-volume trading.
With liquidity being a critical factor in trading decisions, especially for institutional players, this development could signal a shift in trader preferences and exchange dominance.
If Hyperliquid maintains this trajectory, it could become one of the most trusted platforms for deep and efficient crypto trading in 2026.
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