What are the main differences in trading fees between Hyperliquid and centralized exchanges?

Hyperliquid is a decentralized exchange (DEX) specializing in perpetual futures trading, while centralized exchanges (CEX) like Binance or Coinbase offer both spot and derivatives trading. Hyperliquid typically charges 2-5 basis points (0.02-0.05%) in maker fees and 5-20 basis points (0.05-0.20%) in taker fees. Traditional CEXes usually charge 0.1% for spot trading and 0.02-0.05% for futures makers, but vary widely. Hyperliquid's lower fees benefit high-volume traders, though liquidity differs by trading pair. CEXes often offer fee discounts with native tokens. Key difference: Hyperliquid operates on-chain with self-custody, while CEXes hold your funds. Choose based on your trading style, preferred assets, and whether you want decentralized or centralized execution.