Bybit vs Hyperliquid — Which Is Better? Fees, Staking & Winner
Our Verdict
Bybit leads on 3 of 6 criteria against 0 for Hyperliquid — the rest are close enough to call a draw. Which of them matters depends on what you need the exchange for.
Scorecard
| Criteria | Bybit | Hyperliquid | Winner |
|---|---|---|---|
| Staking Coverage (coins) | 240 | 0 | Bybit |
| Best Rates (top-10 coins) | 0 | 0 | Draw |
| Avg USDT Fee | 0.33 | — | No data |
| Funding Coverage (coins) | 575 | 169 | Bybit |
| Network Availability | 81% | — | No data |
| Withdrawal Coins | 796 | 0 | Bybit |
The average USDT fee is computed across all of the exchange's networks; the line under the page heading shows a different figure — the cheapest available network. Hence the two numbers differ: one answers "how much on average", the other "how much if you pick the best route".
Which one for which job
An overall score decides little: the two exchanges win on different axes. Here is which ones, with the number next to each.
How these two differ
This compares two models, not two similar exchanges. Bybit is a centralised venue: an account, verification, funds on its balance sheet, and a support desk you can write to. Hyperliquid is a perp-DEX on its own chain: you connect a wallet, funds sit in a contract, there is no verification — and nobody to restore access if you lose your keys.
Everything else follows from that. Bybit has spot, staking, fiat off-ramps over P2P and a fee matrix across hundreds of coins. Hyperliquid has perpetuals and a funding rate — and typically a longer tail of perp instruments than a CEX carries.
Worth knowing: under Hyperliquid's Terms of Use, residents and citizens of Russia are Restricted Persons, access is filtered by IP, and circumventing it via VPN is prohibited by the terms. Complying with the venue terms is the user's own responsibility.
Which one suits you
- → you need spot, staking and fiat off-ramps, not just perps
- → support and account recovery matter
- → you are not ready to self-custody
- → you trade perpetuals only
- → self-custody without verification is the point
- → you want a long tail of perp instruments and a transparent on-chain book
How to move funds
Moving from a centralised exchange to a perp-DEX is not an account-to-account transfer: it goes through the blockchain and your own wallet.
- Withdraw a stablecoin from the exchange to your wallet on a network the venue supports — the sending exchange charges the fee.
- Connect the wallet to the venue and deposit into its contract. You pay gas; there is no separate deposit charge.
- The way back is the same in reverse: withdraw from the contract to your wallet, then send to the exchange.
The key difference from an exchange-to-exchange transfer: on a perp-DEX you hold the funds, not the venue — and if you lose the keys there is nobody to restore access.
Access and verification
These terms change more often than the numbers above: every fact carries a check date and a source link.
| Criteria | Bybit | Hyperliquid |
|---|---|---|
| Users from Russia | Works | Barred by terms |
| Verification (KYC) | Required | Not required |
| RUB top-up via P2P | Yes | No |
| RUB card top-up | — | No |
The platform still serves users from Russia and its RUB P2P desk works. Cards of sanctioned banks have been removed from the payment methods at times — the list of available banks shifts, so check it inside P2P before trading.
Since 8 May 2023 at least Level 1 verification is mandatory across all products: without it only closing positions and withdrawing remain available.
Under the Terms of Use, residents and citizens of Russia are Restricted Persons alongside the US, Iran, North Korea, Cuba, Syria and the occupied territories of Ukraine; access is filtered by IP and circumventing it via VPN is prohibited by the terms. Complying with the platform terms is the user's own responsibility.
A non-custodial venue: you connect a wallet, and there is no identity verification step.
This is not legal advice. Exchanges change their rules without notice — check the terms on the platform itself before funding an account.
Best For
Rates over 90 days
A headline APR is one point in time. This shows what it actually hovered around for three months and how often it moved.
| Coin | Bybit | Hyperliquid | ||||||
|---|---|---|---|---|---|---|---|---|
| Now | Average | Range | Changes | Now | Average | Range | Changes | |
| BTC | 0.80% | 0.66% | 0.33–0.80 | 11316 | — | — | — | — |
| ETH | 1.75% | 2.04% | 1.46–3.02 | 27357 | — | — | — | — |
| USDT | 5.44% | 3.60% | 2.44–5.44 | 27357 | — | — | — | — |
| USDC | 6.31% | 3.62% | 2.06–6.72 | 27357 | — | — | — | — |
| SOL | 4.30% | 4.66% | 2.95–5.76 | 27173 | — | — | — | — |
| BNB | 0.80% | 0.80% | 0.80–1.32 | 23 | — | — | — | — |
| XRP | 0.70% | 0.76% | 0.70–1.39 | 698 | — | — | — | — |
| GRAM | 15.73% | 15.39% | 13.67–19.91 | 153 | — | — | — | — |
| ADA | 2.09% | 2.03% | 1.73–2.28 | 18 | — | — | — | — |
| DOGE | 0.50% | 0.50% | 0.50–0.60 | 14 | — | — | — | — |
| HYPE | 2.13% | 2.17% | 1.97–2.93 | 90 | — | — | — | — |
A change means the value moved between samples, not the sample itself: polling records the rate regularly, and without that collapse "changes" would simply equal the number of readings.
Funding on average
Annualised percentages from the average rate over 7 and 30 days. The current rate moves every few hours; the average is a property of the venue.
| Coin | Bybit | Hyperliquid | ||
|---|---|---|---|---|
| 7 days | 30 days | 7 days | 30 days | |
| ADA | -1.02% | +3.24% | -2.39% | +2.13% |
| BTC | +5.98% | +5.11% | +10.69% | +8.36% |
| DOGE | +3.37% | +5.25% | +10.38% | +12.07% |
| ETH | +4.48% | +5.20% | +10.51% | +8.48% |
| HYPE | +5.05% | +4.16% | +6.71% | +9.29% |
| SOL | -3.51% | +3.54% | +7.03% | +8.35% |
| XRP | +2.86% | +3.64% | +10.74% | +7.22% |
Staking Rate Comparison
Withdrawal Fee Comparison
Side-by-side withdrawal fees for popular coins on the best available network.
| Coin | Network | Bybit | Hyperliquid |
|---|---|---|---|
| BTC | BTC | 0.000071 | — |
| ETH | ARBI | 0.00004 | — |
| USDT | APTOS | Free | — |
| USDC | APTOS | 0.05 | — |
| SOL | SOL | 0.001 | — |
| BNB | BSC | 0.0002 | — |
| XRP | XRP | 0.2 | — |
| GRAM | TON | 0.02 | — |
| ADA | ADA | 0.8 | — |
| DOGE | DOGE | 4 | — |
| HYPE | HYPEREVM | 0.025 | — |
Funding Rate Comparison
Current perpetual futures funding rates for popular coins.
| Coin | Bybit | Hyperliquid |
|---|---|---|
| BTC | +0.0071% | +0.0013% |
| ETH | +0.0037% | +0.0013% |
| USDC | +0.0000% | — |
| SOL | -0.0022% | +0.0003% |
| BNB | -0.0017% | +0.0013% |
| XRP | +0.0100% | +0.0013% |
| GRAM | +0.0050% | +0.0013% |
| ADA | +0.0073% | +0.0013% |
| DOGE | +0.0031% | +0.0013% |
| HYPE | +0.0006% | +0.0013% |
Arbitrage Opportunities
Current price spreads between Bybit and Hyperliquid.
| Coin | Buy On | Sell On | Spread |
|---|---|---|---|
| ETH | Hyperliquid | Bybit | 0.02% |
| BTC | Hyperliquid | Bybit | 0.01% |
| SOL | Hyperliquid | Bybit | 0.00% |
| HYPE | Hyperliquid | Bybit | 0.00% |