Hyperliquid vs Bybit
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
See the 15 differences
| Line | Hyperliquid | Bybit |
|---|---|---|
| 30-day volume | Edge#01 · $204,136.0M | #14 · Not tracked |
| Trading fees | Edge0.045% taker · 0.015% makerSeven tiers on 14-day weighted volume: 0.045%/0.015% below $5M, 0.040%/0.012% above $5M, 0.035%/0.008% above $25M, 0.030%/0.004% above $100M, 0.026%/0% from $2B. Maker rebates are paid on each trade. Spot volume counts double toward the tier. | 0.055% taker · 0.02% makerNon-VIP rate on perpetual and futures contracts: 0.055% taker and 0.02% maker. VIP tiers lower both, based on 30-day derivatives volume or assets held on the account. Funding is charged on top while a position stays open. |
| New-user perk | 4% off fees on your first $25M of volume | Up to 25 USDT: 10 USDT for a 100 USDT deposit within 7 days, then 15 USDT for 500 USDT traded within 30 days |
| Max leverage | up to 40× | Edgeup to 150× |
| Perp markets | 234 | Edge846 |
| Identity check (KYC) | EdgeNo KYC | KYC required |
| Custody | Non-custodial: positions signed from your wallet | Custodial: your balances sit on the exchange |
| Settles on | HyperCore (L1 Hyperliquid) | Bybit (centralised matching) |
| Collateral | USDC | USDT, USDC |
| Where it runs | Web | Web, iOS, Android |
| Chains | EdgeEVMArbitrum, HyperEVM | — |
| Documented features | 7 of 10 | 7 of 10 |
| Order book | Yes | Yes |
| Cross margin | Yes | Yes |
| Spot trading | Yes | Yes |
| Vaults / copy vaults | Yes | Not documented |
| Copy trading | Not documented | Yes |
| Stocks, gold or forex | Yes | Yes |
| Points program | No | Not documented |
| API | Yes | Yes |
| Mobile app | Yes | Yes |
| Telegram bot | No | Not documented |
Which one should you pick?
Pick Hyperliquid if
You want deep liquidity, low fees and a public fee ladder you can plan around.
The deepest perp book in the set by an order of magnitude ($204B over 30 days) and the cheapest base tier, at 0.045% taker and 0.015% maker. Everything settles on Hyperliquid's own L1, with USDC arriving mainly through Circle's CCTP from Arbitrum.
Read the Hyperliquid reviewapp.hyperliquid.xyz
Pick Bybit if
You want the widest choice of altcoin perps, copy trading and a mobile app, and accept KYC and custody.
The biggest menu of the series: 846 USDT and USDC perpetuals, up to 150x on BTC, 0.055% taker, copy trading and mobile apps. It is a centralised exchange: identity verified, balances held by Bybit. The referral pays new users up to 25 USDT, but EEA residents, France included, are being moved to Bybit EU.
Read the Bybit reviewSign up through this link: Up to 25 USDT: 10 USDT for a 100 USDT deposit within 7 days, then 15 USDT for 500 USDT traded within 30 days.
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