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Hyperliquid vs Interactive Brokers — on-chain perpetuals powerhouse vs low-cost retail-pro execution broker.
| Metric | Hyperliquid | Interactive Brokers | Δ |
|---|---|---|---|
| Hyperliquid Market Cap | $9.84B | — | — |
| Hyperliquid Price | $41.28 | — | — |
| Hyperliquid 24h Change | -0.77% | — | — |
| Hyperliquid FDV | $39.73B | — | +303.7% |
| Hyperliquid ATH | $59.30 | — | — |
Crypto data live from Sharpe's tracker cache; TradFi values are reference benchmarks updated quarterly.
Interactive Brokers' market cap has ranged $60B-$90B in 2024-2026, with $500B+ in client equity and a reputation as the lowest-cost retail-adjacent derivatives and margin broker. Hyperliquid's market cap ($8B-$25B) is 10-40% of IBKR. The comparison is sector-direct: Hyperliquid is the leading on-chain perpetuals exchange with $10B+ in open interest and $3B+ in 24-hour volume at peak, serving crypto-native execution clients. IBKR serves self-directed retail and pro traders with institutional-grade execution at low commission. Both target the cost-conscious sophisticated trader. Hyperliquid's advantage is 24/7, permissionless, on-chain clearing; IBKR's is 200+ markets globally and regulatory depth. Correlation with IBKR is minimal but trending positive in bull cycles.
Side-by-side crypto comparison with normalized returns
Rolling correlation between crypto and major TradFi benchmarks