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Arthur Hayes: Hyperliquid Still Leads Perp DEXs, but Risk-Reward Has Changed Flop Labs CEO Arthur Hayes Arthur Hayes said in a September 30 interview with Bitcoin.com News at KBW 2026 that Hyperliquid remains the best perp DEX, but its risk-reward is no longer as attractive as it was earlier.Hayes...

19,350 views • 3 days ago •via X (Twitter)

11 Comments

Wu Blockchain's profile picture
Wu Blockchain3 days ago

Source:

RAMΞN 🍜 | Asteroid's profile picture
RAMΞN 🍜 | Asteroid3 days ago

@CryptoHayes @BitcoinNews gm, hayes always has a take worth reading

DIABLO's profile picture
DIABLO3 days ago

@CryptoHayes @BitcoinNews Hyperliquids liquidity depth for certain perps has historically been deeper than most competitors, though its fee structure may now favor larger trades more heavily.

CoinGpt | 智能量化交易's profile picture
CoinGpt | 智能量化交易3 days ago

@CryptoHayes @BitcoinNews Hyperliquid 的订单簿深度和资金费率效率仍是头部,但激励边际递减后,做市返佣与持仓基差收敛会先压缩实际收益率,风险补偿确实不如早期。

vøv △'s profile picture
vøv △3 days ago

@CryptoHayes @BitcoinNews Buying at 30 and selling at 75 is a clean exit

Soph c's profile picture
Soph c3 days ago

@CryptoHayes @BitcoinNews Couldn't agree more

Franco's profile picture
Franco3 days ago

@CryptoHayes @BitcoinNews Rope a Dope Hayes

Macro Bombastic's profile picture
Macro Bombastic3 days ago

@CryptoHayes @BitcoinNews man really sold the top and stayed humble about it

Jacek Kowalczyk's profile picture
Jacek Kowalczyk3 days ago

@CryptoHayes @BitcoinNews Hyperliquid still dominates perp DEX liquidity.

Laura Harper 🔸 Crypto's profile picture
Laura Harper 🔸 Crypto3 days ago

@CryptoHayes @BitcoinNews Wu citing Hayes on risk-reward while warning readers not to trust his risk-reward calls in the same post is its own thesis statement

Nils Domke 🇩🇪's profile picture
Nils Domke 🇩🇪3 days ago

@CryptoHayes @BitcoinNews Risk-reward compressing at the top perp DEX is a sign the market is maturing, not that the venue got worse

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