Hyperliquid vs Apex: Which DEX is better? — Transcript

Full transcript

1. 0:00Hey guys, it's Salah. I just released a
2. 0:01new version of Jesse, which happens to
3. 0:03be a decentralized exchange just like
4. 0:04the Apex which we already support. So
5. 0:06now the question is which exchange is
6. 0:08better, Hyperlquid or Apex. So in this
7. 0:10video I'm going to compare the two
8. 0:12exchanges together and give you my
9. 0:14opinion about them. I will also show you
10. 0:15how to generate an API key on Hyperlid
11. 0:18and connected to Jesse. So if that
12. 0:20sounds good, let's get right into it. So
13. 0:21first things first, the team behind Apex
14. 0:23is actually BBIT, which you probably
15. 0:25already know. They've been around for a
16. 0:27while and a good number of people trust
17. 0:29them. The team behind the hyperlquid,
18. 0:30however, the way I heard it, they used
19. 0:32to be a trading firm and they decided to
20. 0:34make their own exchange. Now, this kind
21. 0:36of sounds good because it means they
22. 0:37know what traders want. But on the other
23. 0:39hand, it's also a similar story and a
24. 0:41scary one. But at the end of the day,
25. 0:43they are a decentralized exchange. So
26. 0:46maybe the team behind them doesn't
27. 0:48matter as much as it matters when it
28. 0:49comes to a centralized exchange. So I
29. 0:51wouldn't worry about this much. Now,
30. 0:53another thing that's really important is
31. 0:54the number of transactions that these
32. 0:56two exchanges support. on Apex Pro.
33. 0:59According to their website, it used to
34. 1:00be 1,000 orders per second. But Apex Pro
35. 1:03is their previous version of Exchange,
36. 1:04which nowadays is actually shutting
37. 1:06down. So, the new one is actually Apex
38. 1:09Omni. And it doesn't say it on their
39. 1:10website, but I believe I read it
40. 1:12somewhere that it is close to 4,000
41. 1:14transactions per second, which is pretty
42. 1:16great. But when you compare it to
43. 1:18Hyperlid, at least according to their
44. 1:19website, the number is 200,000
45. 1:22transactions per second, which is
46. 1:23absolutely insane. Now obviously this
47. 1:26allows for more market makers to be able
48. 1:28to work here. That means better
49. 1:29liquidity both for retail traders or
50. 1:32even whales. In fact if I go to Apex for
51. 1:34example for Dogecoin we can see the
52. 1:37volume in the past 24 hours has been
53. 1:38near 3 million. But if I go to hyperlid
54. 1:41for the same asset if we look it up we
55. 1:44can see the volume has been nearly 22
56. 1:48million. So that is significantly
57. 1:50higher. Now the other thing that is
58. 1:52better on Hyperlid is the number of
59. 1:53assets they support. So, for example, on
60. 1:56Apex, here's how many they support. And
61. 1:59you can see the list was pretty short.
62. 2:01But if I go on Hyperlid, the list just
63. 2:04goes on and on. And they are very quick
64. 2:07for adding new assets when they come
65. 2:09out. So, if you want to trade some kind
66. 2:11of shitcoin that hasn't been added to
67. 2:13most exchanges, chances are Hyperlid is
68. 2:15going to add it significantly faster
69. 2:17than something such as Apex. Now, the
70. 2:19other thing that is actually quite
71. 2:20important is the trading fees on Apex
72. 2:23Pro. It is the standard number. In fact,
73. 2:25it is the minimum of the standard number
74. 2:27where you can find on exchanges such as
75. 2:29Bybit or Binance. It is
76. 2:310.02% for makers and
77. 2:350.05% for takers, which again this isn't
78. 2:38high at all. It is pretty standard and
79. 2:41even the lowest amount of it. But when
80. 2:43you check out Hyperlid, it is lower even
81. 2:46since the beginning. So for takers,
82. 2:48instead of it is
83. 2:490.35% and for makers, it is actually
84. 2:52half of what it is on Apex. Now speaking
85. 2:54of trading fees, I'm going to put down
86. 2:56my own affiliate link of both exchanges.
87. 2:59And if you use those links to sign up,
88. 3:00you're going to get trading fee
89. 3:02discounts on top of these numbers that I
90. 3:04just showed you. So please make sure to
91. 3:05use it because it's a great way for
92. 3:07supporting our project and helping me to
93. 3:09create more videos like this. All right,
94. 3:10so now I'm going to show you how to
95. 3:12generate API keys on Hyperlid and
96. 3:14connect it to Jesse. So first click on
97. 3:16the connect button and choose your
98. 3:17wallet. Now I have MetaMask. So I'm
99. 3:20going to click on connect and boom, we
100. 3:23are connected. So now assuming I have
101. 3:24deposited some UCC, I should be able to
102. 3:27start trading. Now by the way on Apex
103. 3:29you can also deposit UCT but on Hyperlid
104. 3:32you can only deposit UCC. So that's
105. 3:34another difference between them. So once
106. 3:36I do that I can enable trading and start
107. 3:38trading. Now the orders are just like
108. 3:40any other exchange. You already know it.
109. 3:42So let's continue to generate an API
110. 3:44key. So for that you should go to the
111. 3:46more API. Now give it a name. It could
112. 3:49be anything. Now I'm going to write
113. 3:50Jesse but again it could be absolutely
114. 3:52anything. Then press the generate
115. 3:54button. Now we don't need this value.
116. 3:57Okay. Now click on the authorize API
117. 3:59wallet and this private key here is the
118. 4:01one that we want. Now here actually
119. 4:03choose a number such as the maximum for
120. 4:06180 days or it could be anything you
121. 4:09want. Copy the private key value and
122. 4:11then click on the authorize. Then click
123. 4:13on the confirm. Now, it says I need to
124. 4:15deposit before doing this. So, that's
125. 4:17because this is a new account, but in
126. 4:19your case, it should go through just
127. 4:20fine. Then, go to the JS's dashboard.
128. 4:22Click on the three dots, the exchange
129. 4:24API keys. Look for the hyperlquid
130. 4:27option. Give it a name. It could be
131. 4:32anything. And paste the private key
132. 4:35here. Now, it also needs a wallet
133. 4:37address. Now, this is important because
134. 4:38on this page, if you remember, we have
135. 4:41one wallet address here. But
136. 4:42unfortunately, this one is not the one
137. 4:44that we want and it's a bit confusing.
138. 4:47So instead, what you want to do is to
139. 4:48copy your own wallet address, which you
140. 4:51can find here. So press on the copy
141. 4:52button or you can also find it on
142. 4:55MetaMask. It doesn't really matter. Now
143. 4:57go back here and paste it here. Click on
144. 4:59the create button and you should be able
145. 5:02to use it now. So if I start a new
146. 5:04session, I should be able to find
147. 5:05Hyperlid. Actually, make sure the paper
148. 5:08mode is off. Do this again. All right.
149. 5:10All right, so Hyperlquid account one and
150. 5:12now I can start trading there just like
151. 5:14any other exchange. All right, now the
152. 5:16final question. Should you move to
153. 5:18Hyperlquid if you are already trading on
154. 5:20Apex? Well, my answer is yes and no.
155. 5:22Well, let me explain. In almost every
156. 5:24metric, Hyperlquid looks better. It has
157. 5:26lower trading fees and better liquidity
158. 5:28and more number of assets that you are
159. 5:30able to trade on it. But on the other
160. 5:32hand, the exchange is not as old as Apex
161. 5:34and we don't know their team like we
162. 5:36know by bit. So I'm going to say this.
163. 5:37If your strategy is highly dependent on
164. 5:40low slippage and good liquidity, then
165. 5:42yes, definitely go with hyperlquid. But
166. 5:45if it's not, for example, if you're
167. 5:47trading a swing trading strategy, then
168. 5:49maybe you shouldn't move to hyperlid so
169. 5:52fast because you're getting fine results
170. 5:54on Apex and it's a bit more trustworthy,
171. 5:56at least for now. But what I'm doing
172. 5:58myself is that I am trading
173. 6:00simultaneously on both of them because
174. 6:02it's always a good idea to diversify
175. 6:04your capital so that let's say god
176. 6:06forbid one of them gets hacked or the
177. 6:08team runs away or whatever. Now I know
178. 6:11it's a deck and that is not supposed to
179. 6:13happen but you never know. So my point
180. 6:14is this by diversifying my capital if
181. 6:17one of them goes out of business then I
182. 6:19won't lose everything that I own. I will
183. 6:21just lose half of it. So at least
184. 6:23because of that I want to continue
185. 6:24trading on both of them simultaneously
186. 6:27until I feel like the hyperlquid is
187. 6:29mature enough and I trust the team
188. 6:30behind it enough so that I can move
189. 6:32there completely. So that's it guys.
190. 6:34Please use our link for signing up on
191. 6:36both of these exchanges. It will help me
192. 6:38continue making videos like this. Thank
193. 6:40you so much for watching and I'll see
194. 6:41you in the next one.
195. 6:48[Music]
196. 6:48[Applause]
197. 6:51[Music]