Compare Hyperliquid vs. Bybit perpetuals: funding rates, fees, open interest, trading volume, liquidity, liquidation data and regulatory compliance updated in real-time.
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About | Hyperliquid is the largest onchain perp exchange, clearing over $300 billion a month on a custom Layer 1 using HyperBFT for one-block finality and sub-second execution. Its onchain order book processes more than 200,000 orders per second. Founded in 2023 by former HRT engineer Jeff Yan, it offers 100 plus perp markets with up to 40x leverage, permissionless listings, and USDC-margined contracts. All trading and liquidations settle onchain through HyperCore and HyperEVM. The network is community owned with no paid market makers or listing fees, secured by a validator set running HyperBFT. Hyperliquid releases verifiable onchain data on funding, open interest, liquidations, and vault activity. | Bybit, founded in 2018 by Ben Zhou, is the second-largest crypto perpetuals exchange by liquidity and trading volume globally. Headquartered in Dubai, it serves 60M+ users in 160 regions, providing spot trading, futures, crypto options, staking, and lending across 1,800+ assets. Bybit holds licenses in UAE, Cyprus, and other tier-1 jurisdictions, secures assets via multi-signature cold storage, and regularly publishes verified Proof of Reserves audits. |
Rating | ||
Spot Assets | 60 | 1800 |
Perpetual Contracts | USDC only | USDT & USDC Settled |
Spot Volume (24H) | -- -- -- | -- -- -- |
Perpetuals Volume (24H) | -- -- -- | -- -- -- |
Crypto Options Volume (24H) | -- -- -- | -- -- -- |
Open Interest (24H) | -- -- -- | -- -- -- |
Live Funding Rates ![]() BTC Funding Rate ![]() ETH Funding Rate ![]() BNB Funding Rate ![]() SOL Funding Rate | -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- | -- -- -- -- -- -- USDC -- -- -- -- -- -- USDC -- -- -- -- -- -- USDC -- -- -- -- -- -- USDC |
Taker Fees | 0.045 % | 0.055 % |
Maker Fees | 0.015 % | 0.02 % |
Perpetual Contract Types | USDC only | USDT & USDC Settled |
Available Leverage | 40x | 125x |
Regulation | Decentralized and Unregulated | CySEC (Cyprus), VARA (Dubai), FSA (Kazakhstan), and VASP (Georgia) |
Proof of Reserves | Yes No | Yes No |
Supported Countries | 195 | 160+ |
Total Users | 404,000 | 67 Million |
Headquarters | Decentralized (HyperEVM) | Dubai, United Arab Emirates |
Visit Exchange | Go to site | Go to site |