# Hyperliquid vs Upbit Open API

> Upbit Open scores 54.7 (C) to Hyperliquid's 50 (D) for exchange market data. Prices, MCP, x402, uptime and agent notes side by side.

- Canonical: https://www.anchorterminal.com/compare/hyperliquid-vs-upbit
- Markdown: https://www.anchorterminal.com/compare/hyperliquid-vs-upbit.md (~4,450 tokens)
- Site index for agents: https://www.anchorterminal.com/llms.txt (the key docs and every listing in one file, at most 16 MB, about 4 million tokens: https://www.anchorterminal.com/llms-full.txt)
- API: https://www.anchorterminal.com/api/v1/index.json
- MCP: https://www.anchorterminal.com/mcp (the whole catalogue as tools, no key)
- DNS: dig +short TXT <slug>.grade.anchorterminal.com (the grade as a DNS TXT record, for a sandbox with no HTTP where names still resolve; also top., best.<category>. and <a>.vs.<b>. under the zone, and the same under grade.letme.dev)
- Licence: CC BY 4.0, credit Anchor Terminal and link this page (https://www.anchorterminal.com/terms/#data)
- Updated: 2026-11-03

Upbit Open API scores 54.7 (C) on agent readiness against Hyperliquid's 50 (D), and leads in 4 of 7 scored categories. Hyperliquid leads on security & auth and payments & pricing. Both do exchange market data.

- Hyperliquid: grade D, 50/100, rank #1018 of 1349. Markdown https://www.anchorterminal.com/tools/hyperliquid.md · JSON https://www.anchorterminal.com/api/v1/tools/hyperliquid.json
- Upbit Open API: grade C, 54.7/100, rank #860 of 1349. Markdown https://www.anchorterminal.com/tools/upbit.md · JSON https://www.anchorterminal.com/api/v1/tools/upbit.json
- Best crypto exchange APIs and MCP servers for AI agents: https://www.anchorterminal.com/best/crypto-exchanges/index.md
- All 210 exchanges comparisons: https://www.anchorterminal.com/compare/crypto-exchanges/index.md

## Which one, for what

### Hyperliquid (D)

Good for: An agent trading perpetuals or spot on chain from its own wallet with no account, or acting for a master account through an approved API wallet.

Ahead on:
- Security & auth, 64 against 59
- Payments & pricing, 55 against 15

Watch for: No official MCP server; the 23 registry entries are all third parties, several selling data by x402

### Upbit Open API (C)

Good for: KRW-market trading for agents acting for a verified Korean account, with first-party SDKs, a CLI and skills but no MCP.

Ahead on:
- Schema & documentation, 66 against 42
- Maintenance & community, 83 against 39
- Transparency & trust, 54 against 26

Watch for: No MCP server; the agent route is the CLI through skills, which need a terminal


## Why the edge

### Maintenance & community: Upbit Open API +44

- Hyperliquid (39): Read as a closed hosted service with open SDKs. The API has no dated changelog, so the last dated change is the Python SDK's 0.24.0 on 4 June 2026, 152 days before this check; the node repository was pushed on 10 August 2026 and the docs describe newer actions (HIP-4 outcome markets, borrow and lend) without dates. Judgement call (10 of 30). No three dated releases in 90 days (0). Support through Discord and the docs' FAQ, 112 open issues on the SDK whose replies couldn't be read (8 of 25). Official Python and Rust SDKs, the Rust one last pushed 21 October 2025; no MCP registry entry (15). CI on Python 3.9 and 3.13 with Poetry, Dependabot badge, a lock file (6 of 10). Total 39.
- Upbit Open API (83): Read as a closed service. SDK v1.1.0 on 20 October 2026 (30). The CLI 1.0.0 on 1 September, the rate-limit update of 7 October, the SDK on 20 October and the path-format notice for 16 November 2026 (20). open-api@upbit.com answers in turn on weekdays per the support notice, notices carry dates, and the six upbit-official repositories show no open issues (12 of 15). Current official SDKs in Python, TypeScript and Go (15). Apache-2.0 repositories pushed in October 2026; CI not checked (6 of 10). 30 + 20 + 12 + 15 + 6 = 83.

### Payments & pricing: Hyperliquid +40

- Hyperliquid (55): No machine payment protocol (0). Fees published per tier without login (20). No card anywhere; public info endpoints are free and the testnet faucet gives 1,000 mock USDC, though only to an address that has deposited on mainnet (15 of 20). No signup; an agent with a funded EVM wallet deposits USDC on a bridged chain and trades, subject to the unread terms (20). Total 55.
- Upbit Open API (15): No machine payment protocol (0). The fee schedule is on upbit.com, which disallows every crawler path, so no price is recorded (0 of 20, unchecked). Public quotation endpoints need no key, card or account; trading needs a verified Korean account. Judgement call (15 of 20). A person must sign up, pass identity checks and issue keys on the PC web site (0). 0 + 0 + 15 + 0 = 15.

### Transparency & trust: Upbit Open API +28

- Hyperliquid (26): The editorial half. The SDKs are MIT and the node repository Apache-2.0 with a Dockerfile around a binary; the API servers and front end are closed and the terms were unreadable (12 of 30). No privacy policy read and nothing in the docs on data handling (0 of 30). Deprecated actions are marked in the docs without dates or a policy (8 of 20). No subprocessors or data locations (0 of 20). Total 20.
- Upbit Open API (54): The editorial half. A closed service whose user and Open API terms could not be fetched under upbit.com's robots.txt, and whose SDK licence page calls the SDK material not open source while the repositories carry Apache-2.0 (8 of 30). The developer centre's privacy policy names Dunamu Inc., gives retention periods and names Zendesk in Japan; the main privacy policy was not read (14 of 30). Notices with effective dates, including the path-format change and the deprecated Remaining-Req min field (12 of 20). Zendesk and Google Analytics named with a location for the developer centre only (8 of 20). 8 + 14 + 12 + 8 = 42.

### Schema & documentation: Upbit Open API +24

- Hyperliquid (42): No OpenAPI or other machine-readable contract; request and response shapes are tables and JSON examples in the docs (0 of 25). llms.txt and a Markdown twin of every page by appending .md (10). Each info type and exchange action has a short description of what it does, and the signing page lists common mistakes, but little says when to use one call over another (12 of 20). Fields are one-letter keys (`a`, `b`, `p`, `s`, `r`, `t`, `c`) with numbers as strings, enums such as `tif` Alo, Ioc or Gtc, and required fields marked in tables (9 of 15). An example for every call and a list of order and cancel error strings, with no HTTP error table (11 of 15). No API version, no changelog and no dated release notes; deprecated actions such as `userDexAbstraction` are marked in place (0 of 15). Total 42.
- Upbit Open API (66): No OpenAPI found; the reference is a readme.io site with a Markdown twin of every page (5 of 25). llms.txt on docs.upbit.com and a kr/llms.txt index (10). Each reference page states what the endpoint does, its group and its errors, with warnings such as market_offline after maintenance (14 of 20). Typed parameters with enums for order type, side and time in force and required flags (11 of 15). Recipes in Python, Java and Node.js and an error format of error.name and error.message with HTTP statuses (13 of 15). Feature versions in page histories (v1.6.1) and dated notices with effective dates, no single API version (13 of 15). 5 + 10 + 14 + 11 + 13 + 13 = 66.

### Security & auth: Hyperliquid +5

- Hyperliquid (64): No shared secrets. Actions are signed by the wallet key or by an API wallet the master approves with a name and optional expiry; API wallets can only sign, withdrawals and external sends are user-signed, and approving a new wallet deregisters the old. No IP allow-list or address allow-list (24 of 30). An API wallet is a trading-only credential and info needs no key, but nothing limits order size or marks an action as needing approval (10 of 20). The API returns no untrusted content (10). Fills, historical orders, `userRole` and nonces are queryable per account; no per-wallet action log (8 of 15). A bug bounty run by the Hyper Foundation with rewards up to under 1 million USDC, a Zellic audit of the bridge contract, a SECURITY.md on the SDK; no security.txt (403), no SOC 2 (12 of 20). Total 64.
- Upbit Open API (59): Keys limited to chosen functions, a mandatory public IPv4 allow-list, a JWT per request with a fresh nonce, keys listed with expiry through the API, and a withdrawal safe-lock on by default (27 of 30). Read-only keys, the default withdrawal lock lifted only in the app, and skills that require a typed CONFIRM before writes (17 of 20). The API returns exchange data and announcements, no third-party content (10 of 15). An API key list endpoint; no per-call log for the operator (5 of 15). No disclosure policy, bug bounty or certification found; security.txt on upbit.com could not be fetched under its robots.txt (0 of 20). 27 + 17 + 10 + 5 + 0 = 59.

## Score by category

| Category | Weight | Hyperliquid | Upbit Open API | Edge |
| --- | --- | --- | --- | --- |
| Reliability | 16% (20 this run) | 40 | 42 | Upbit Open API +2 |
| Performance | 10%, pending | pending | pending | not scored in this run |
| Schema & documentation | 13% (16.2 this run) | 42 | 66 | Upbit Open API +24 |
| Agent ergonomics | 13% (16.2 this run) | 70 | 70 | even |
| Security & auth | 14% (17.5 this run) | 64 | 59 | Hyperliquid +5 |
| Payments & pricing | 10% (12.5 this run) | 55 | 15 | Hyperliquid +40 |
| Task success | 10%, pending | pending | pending | not scored in this run |
| Maintenance & community | 7% (8.8 this run) | 39 | 83 | Upbit Open API +44 |
| Transparency & trust | 7% (8.8 this run) | 26 | 54 | Upbit Open API +28 |
| Negative events | ≤15 | 0 | 0 | |
| **Total** | | **50 · D** | **54.7 · C** | |

## Facts side by side

| Fact | Hyperliquid | Upbit Open API |
| --- | --- | --- |
| Kind | HTTP API | HTTP API |
| Vendor | Hyperliquid Labs | Dunamu Inc. |
| Hosted endpoint | no (local only) | no (local only) |
| Transports |  |  |
| Auth | OAuth or key | API key |
| Pricing | Pay per use | Pay per use |
| x402 | no | no |
| Licence | The exchange runs on the Hyperliquid chain (HyperCore), whose node is distributed as a binary under an Apache-2.0 repository; the Python and Rust SDKs are MIT. The API servers and front end are closed | none |
| Tools exposed | 0 | 0 |
| Read-only variant documented | no | no |
| llms.txt | yes | yes |
| Last release | 2026-06-04 | 2026-10-20 |
| Terms last updated | couldn't be read | no document linked |
| Privacy policy last updated | no document linked | no date given |
| Customer content may train models | couldn't be read | not read yet |
| Terms restrict automated access | couldn't be read | not read yet |
| Terms restrict benchmarking | couldn't be read | not read yet |
| Terms or service can change without notice | couldn't be read | not read yet |
| Arbitration or class-action waiver | couldn't be read | not read yet |
| Popularity | 1.9k stars, 167k PyPI/wk | 91 stars |

## Verdicts

**Hyperliquid.** Hyperliquid's API needs no signup or key, an approved API wallet can trade but not withdraw, fees and rate limits are published with numbers, and a testnet mirrors mainnet. There is no official MCP server, OpenAPI file, status page, changelog or readable terms, and signing uses two schemes the docs say to leave to an SDK.

**Upbit Open API.** Upbit's Open API has a mandatory IP allow-list, scoped keys with a default withdrawal lock, per-group rate limits with 429 and 418 signalling, an order-test endpoint, official SDKs, a CLI and agent skills with a CONFIRM gate. There is no MCP server, sandbox or status page, and the fees and terms sit on a host our crawler may not read.

## Before you call either

### Hyperliquid

1. Generate a fresh API wallet, approve it with `approveAgent` with a name and expiry, sign with it, and query with the master address, never the agent address
2. Use the Python SDK's `sign_l1_action` and `sign_user_signed_action`; mixing the two, field order in msgpack or an uppercase address gives "User or API Wallet ... does not exist"
3. Set a `cloid` on every order and read the per-order `statuses` array; one batch-level error rejects the whole batch
4. Budget address limits by volume (one action per 1 USDC traded after 10,000); batch orders to lower IP weight, and use WebSocket for data
5. Arm `scheduleCancel` before unattended trading so open orders are cancelled if the agent stops

### Upbit Open API

1. Ask the person for a key with only the functions the task needs and your server's public IPv4 address registered; a private or unregistered IP is refused
2. Sign every request with a fresh JWT (HS512, new nonce, SHA512 query hash) and branch on error.name, not error.message
3. Run POST /v1/orders/test before a live order; it costs nothing and shares the 8-a-second order-test group
4. Read Remaining-Req and keep orders under 12 a second per pocket; on 429 wait for the next second and on 418 wait out the stated block
5. Leave the withdrawal safe-lock on unless the person lifts it in the app, and send paths with single slashes and no trailing slash before 16 November 2026

## Questions

### Which is better for AI agents, Hyperliquid or Upbit Open API?

Upbit Open API scores 54.7 (C) on agent readiness against Hyperliquid's 50 (D), and leads in 4 of 7 scored categories. Hyperliquid leads on security & auth and payments & pricing.

### Do Hyperliquid and Upbit Open API need an API key?

Hyperliquid takes an API key or an OAuth sign-in. Upbit Open API needs an API key.

### Can an agent call Hyperliquid and Upbit Open API without installing anything?

No hosted endpoint is listed for Hyperliquid. No hosted endpoint is listed for Upbit Open API.


## For agents

- This comparison as JSON: https://www.anchorterminal.com/compare/hyperliquid-vs-upbit.json, and with the fewest tokens: https://www.anchorterminal.com/compare/hyperliquid-vs-upbit.min.md
- Over MCP at https://www.anchorterminal.com/mcp (no key): `compare_tools {"a": "hyperliquid", "b": "upbit"}`. From a terminal: `anchor compare hyperliquid upbit`
- Each listing in full: https://www.anchorterminal.com/api/v1/tools/hyperliquid.json and https://www.anchorterminal.com/api/v1/tools/upbit.json

## Other comparisons with Hyperliquid or Upbit Open API

- [Bitfinex API vs Hyperliquid](https://www.anchorterminal.com/compare/bitfinex-vs-hyperliquid.md)
- [Bitfinex API vs Upbit Open API](https://www.anchorterminal.com/compare/bitfinex-vs-upbit.md)
- [Bitget vs Hyperliquid](https://www.anchorterminal.com/compare/bitget-vs-hyperliquid.md)
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- [Bitstamp API vs Hyperliquid](https://www.anchorterminal.com/compare/bitstamp-vs-hyperliquid.md)
- [Bitstamp API vs Upbit Open API](https://www.anchorterminal.com/compare/bitstamp-vs-upbit.md)
- [Bybit vs Hyperliquid](https://www.anchorterminal.com/compare/bybit-vs-hyperliquid.md)
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- [Crypto.com Exchange API vs Upbit Open API](https://www.anchorterminal.com/compare/crypto-com-exchange-vs-upbit.md)
- [Deribit vs Upbit Open API](https://www.anchorterminal.com/compare/deribit-vs-upbit.md)
- [dYdX vs Upbit Open API](https://www.anchorterminal.com/compare/dydx-vs-upbit.md)
- [Gate vs Hyperliquid](https://www.anchorterminal.com/compare/gate-io-vs-hyperliquid.md)
- [Gate vs Upbit Open API](https://www.anchorterminal.com/compare/gate-io-vs-upbit.md)
- [Gemini Exchange API vs Hyperliquid](https://www.anchorterminal.com/compare/gemini-exchange-vs-hyperliquid.md)
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- [HTX trading API vs Hyperliquid](https://www.anchorterminal.com/compare/htx-vs-hyperliquid.md)
- [HTX trading API vs Upbit Open API](https://www.anchorterminal.com/compare/htx-vs-upbit.md)
- [KuCoin vs Upbit Open API](https://www.anchorterminal.com/compare/kucoin-vs-upbit.md)
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- [Binance API vs Hyperliquid](https://www.anchorterminal.com/compare/binance-vs-hyperliquid.md)
- [Binance API vs Upbit Open API](https://www.anchorterminal.com/compare/binance-vs-upbit.md)
- [Coinbase Advanced Trade API vs Hyperliquid](https://www.anchorterminal.com/compare/coinbase-advanced-trade-vs-hyperliquid.md)
- [Coinbase Advanced Trade API vs Upbit Open API](https://www.anchorterminal.com/compare/coinbase-advanced-trade-vs-upbit.md)
- [Coinbase MCP server (Coinbase for Agents) vs Hyperliquid](https://www.anchorterminal.com/compare/coinbase-mcp-vs-hyperliquid.md)
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- [Uniswap Trading API vs Upbit Open API](https://www.anchorterminal.com/compare/uniswap-vs-upbit.md)
- [Deribit vs Hyperliquid](https://www.anchorterminal.com/compare/deribit-vs-hyperliquid.md)
- [dYdX vs Hyperliquid](https://www.anchorterminal.com/compare/dydx-vs-hyperliquid.md)
- [Hyperliquid vs Kraken API](https://www.anchorterminal.com/compare/hyperliquid-vs-kraken.md)
- [Hyperliquid vs KuCoin](https://www.anchorterminal.com/compare/hyperliquid-vs-kucoin.md)
- [Hyperliquid vs MEXC API](https://www.anchorterminal.com/compare/hyperliquid-vs-mexc.md)
- [Hyperliquid vs OKX API](https://www.anchorterminal.com/compare/hyperliquid-vs-okx.md)

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Query this catalogue directly over MCP: https://www.anchorterminal.com/mcp (Streamable HTTP, no key). How: https://www.anchorterminal.com/agents/#mcp