Stake without a node: ETH and HYPE liquid staking compared
Data last changed · by Joseph, Ethereum node operator
Liquid staking tokens earn staking rewards without running a node. stETH pays 2.22%, rETH 2.18%. HYPE staking pays 2.17% at the network level before LST fees.
- stETH's 7-day APR is 0.05 pts above rETH's right now.
- stETH is about 27× the size of rETH by ETH backing.
- kHYPE holds about 4.8× as much HYPE as stHYPE.
- Hyperliquid's stake-weighted validator APR is 2.17% before any LST fee; HYPE LSTs pay less than that after fees.
ETH liquid staking
| Token | APR | Fee | Size | Exchange rate | Exit |
|---|---|---|---|---|---|
| stETH (Lido) | 2.22% | 10% of staking rewards source checked 2026-10-16, needs re-check | 9.68M ETH | Rebasing (1:1) | Withdrawal queue, usually days |
| rETH (Rocket Pool) | 2.18% | Node commission + voter share (live below) source checked 2026-10-16 | 309,978 rETH | 1.1740 ETH/rETH | Burn for ETH if deposit pool has liquidity, else DEX |
| cbETH (Coinbase) | Measuring (needs 7 days of on-chain rate history) | Coinbase fee, see source source checked 2026-10-16, needs re-check | 393,751 cbETH | 1.1419 ETH/cbETH | Via Coinbase or DEX |
APR: Lido API and Rocket Pool API; cbETH APR is measured from its on-chain exchange rate. Size and rates: on-chain token contracts.
HYPE liquid staking
| Token | APR | Fee | Size | Exchange rate | Exit |
|---|---|---|---|---|---|
| kHYPE (Kinetiq) | Measuring (needs 7 days of on-chain rate history) | Not verified yet source checked 2026-10-16, needs re-check | 10.72M HYPE | 1.0675 HYPE/kHYPE | Unstake queue (HyperCore unstaking ~7 days) or DEX |
| stHYPE (Valantis) | Measuring (needs 7 days of on-chain rate history) | Not verified yet source checked 2026-10-16, needs re-check | 2.22M HYPE | Rebasing (1:1) | Unstake via Overseer (~7 days) or stHYPE/WHYPE AMM |
Network APR: Hyperliquid info API (stake-weighted validator predicted APR). kHYPE: Kinetiq API + on-chain supply. stHYPE: on-chain supply. Fees for HYPE LSTs are not verified yet.
Risks
- Depeg: an LST can trade below its backing on DEXs, especially during exits.
- Smart-contract and admin-key risk in each protocol.
- Withdrawal delays: Ethereum exits and HyperCore unstaking (about 7 days) take time.
- Slashing at the validator level reduces backing.
FAQ
kHYPE vs stHYPE: what's the difference?
Both stake HYPE with Hyperliquid validators and give you a token you can use on HyperEVM. kHYPE (Kinetiq) is a value-accruing token: its HYPE-per-kHYPE rate goes up (now 1.0675). stHYPE (Valantis) rebases 1:1 with HYPE, with wstHYPE as the non-rebasing wrapper. Size today: kHYPE 10.72M HYPE, stHYPE 2.22M HYPE.
stETH vs rETH?
stETH (Lido) is the largest ETH LST and rebases daily; rETH (Rocket Pool) grows in value instead and is backed by permissionless operators who post a bond. APR today: stETH 2.22%, rETH 2.18%.
Why is liquid staking APR lower than running a node?
The protocol and node operators take a fee from rewards (for example 10% on stETH). You pay that for not running hardware and for being able to sell the token any time.
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