Bybit vs Hyperliquid — Which Is Better? Fees, Staking & Winner
Updated:
0 of 1 criteria are comparable for Bybit and Hyperliquid. An overall winner requires data for every criterion; with incomplete data, choose by the task you need.
Scorecard
Hyperliquid is a perp DEX: it has no exchange staking and no coin withdrawals across networks, so some criteria do not exist for this pair.
| Criteria | Bybit | Hyperliquid | Winner |
|---|---|---|---|
| Staking Coverage (coins) | Bybit261 | Hyperliquid— | Winner Reference |
| Funding Coverage (coins) | Bybit636 | Hyperliquid177 | Winner Reference |
| Network Availability | Bybit81.1% | Hyperliquid— | Winner No data |
| Coins in the fee database | Bybit793 | Hyperliquid— | Winner Reference |
Rows marked “Reference” show catalogue width — the size of the listing, not the quality of the exchange — and do not count towards the overall result. The result comes from three substantive criteria: staking rates, average withdrawal fee and network availability.
The table shows the average USDT fee across the same set of networks where both exchanges allow withdrawals and publish a fee. The summary shows the fee on the named network (TRC20 first, then other networks), not the absolute minimum. The cheapest transfer between these exchanges is calculated separately and requires deposits on the receiving side.
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.
Everything for one coin
Rate, withdrawal and funding per coin at once: Bybit on the left, Hyperliquid on the right.
| Coin | Staking APR | Withdrawal, cheapest network | Funding per 8h |
|---|---|---|---|
| BTC staking | Staking APR 1.20% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0054% / +0.0001% |
| ETH staking | Staking APR 2.07% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0051% / +0.0010% |
| USDT staking | Staking APR 5.16% / — | Withdrawal, cheapest network — / — | Funding per 8h — / — |
| USDC staking | Staking APR 6.62% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0087% / — |
| SOL staking | Staking APR 4.69% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0082% / -0.0007% |
| BNB staking | Staking APR 0.80% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0026% / -0.0001% |
| XRP staking | Staking APR 0.70% / — | Withdrawal, cheapest network — / — | Funding per 8h -0.0100% / +0.0001% |
| GRAM staking | Staking APR 14.88% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0050% / +0.0013% |
| ADA staking | Staking APR 2.14% / — | Withdrawal, cheapest network — / — | Funding per 8h -0.0176% / -0.0066% |
| DOGE staking | Staking APR 0.50% / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0032% / +0.0001% |
| HYPE staking | Staking APR — / — | Withdrawal, cheapest network — / — | Funding per 8h +0.0019% / +0.0013% |
This pair has no data for that coin.
The fee is the cheapest network with withdrawals open at each exchange; the networks are named separately below the numbers because they often differ. A dash means “not in our data”, not “unsupported”.
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
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 |
|---|---|---|
| Verification (KYC) | BybitRequired | HyperliquidNot required |
Since 8 May 2023 at least Level 1 verification is mandatory across all products: without it only closing positions and withdrawing remain available.
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.
How to move USDT from Bybit to Hyperliquid
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.
Staking Rate Comparison
| Coin | Bybit APR | Hyperliquid APR |
|---|---|---|
| BTC staking | 1.20% | — |
| ETH staking | 2.07% | — |
| USDT staking | 5.16% | — |
| USDC staking | 6.62% | — |
| SOL staking | 4.69% | — |
| BNB staking | 0.80% | — |
| XRP staking | 0.70% | — |
| GRAM staking | 14.88% | — |
| ADA staking | 2.14% | — |
| DOGE staking | 0.50% | — |
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 | 1.20% | 1.01% | 0.80–1.20 | 1 | — | — | — | — |
| ETH | 2.07% | 2.04% | 1.46–2.87 | 13382 | — | — | — | — |
| USDT | 5.16% | 4.74% | 2.44–6.91 | 13389 | — | — | — | — |
| USDC | 6.62% | 5.23% | 2.06–9.11 | 13396 | — | — | — | — |
| SOL | 4.69% | 4.66% | 2.94–6.46 | 13407 | — | — | — | — |
| BNB | 0.80% | 0.80% | 0.80–0.80 | 0 | — | — | — | — |
| XRP | 0.70% | 0.70% | 0.70–0.71 | 10 | — | — | — | — |
| GRAM | 14.88% | 15.17% | 13.67–18.66 | 168 | — | — | — | — |
| ADA | 2.14% | 2.05% | 1.76–2.41 | 18 | — | — | — | — |
| DOGE | 0.50% | 0.50% | 0.50–0.50 | 0 | — | — | — | — |
| HYPE | 2.11% | 2.16% | 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 Rate Comparison
The main rate is normalized to 8 hours: current rate × 8 / exchange interval. Below it are the original rate and interval, plus a simple annualized equivalent. This is an extrapolation, not a payment forecast. Positive: longs pay shorts; negative: shorts pay longs.
| Coin | Bybit | Hyperliquid |
|---|---|---|
| BTC |
0.0054%
+0.0054% per 8 h
5.92% annualized
|
0.0010%
+0.0001% per 1 h
1.09% annualized
|
| ETH |
0.0051%
+0.0051% per 8 h
5.53% annualized
|
0.0076%
+0.0010% per 1 h
8.33% annualized
|
| USDC |
0.0087%
+0.0087% per 8 h
9.50% annualized
|
— |
| SOL |
0.0082%
+0.0082% per 8 h
8.99% annualized
|
-0.0055%
-0.0007% per 1 h
-6.03% annualized
|
| BNB |
0.0026%
+0.0026% per 8 h
2.86% annualized
|
-0.0004%
-0.0001% per 1 h
-0.48% annualized
|
| XRP |
-0.0100%
-0.0100% per 8 h
-10.91% annualized
|
0.0005%
+0.0001% per 1 h
0.58% annualized
|
| GRAM |
0.0100%
+0.0050% per 4 h
10.95% annualized
|
0.0100%
+0.0013% per 1 h
10.95% annualized
|
| ADA |
-0.0176%
-0.0176% per 8 h
-19.30% annualized
|
-0.0524%
-0.0066% per 1 h
extreme, not an annual yield
|
| DOGE |
0.0032%
+0.0032% per 8 h
3.54% annualized
|
0.0007%
+0.0001% per 1 h
0.80% annualized
|
| HYPE |
0.0019%
+0.0019% per 8 h
2.12% annualized
|
0.0100%
+0.0013% per 1 h
10.95% annualized
|
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 | +1.04% | +1.00% | -6.47% | +1.94% |
| BNB | — | -9.18% | — | — |
| BTC | +5.32% | +3.98% | +8.44% | +8.62% |
| DOGE | +4.46% | +1.74% | +10.41% | +13.29% |
| ETH | +4.40% | +2.43% | +5.38% | +9.05% |
| GRAM | — | +5.00% | — | — |
| HYPE | +2.77% | +2.73% | +8.55% | +9.50% |
| SOL | +3.02% | +1.54% | +3.51% | +7.77% |
| USDC | — | -12.27% | — | — |
| XRP | +0.30% | -0.98% | +3.17% | +10.88% |
Arbitrage Opportunities
Current price spreads between Bybit and Hyperliquid.
| Coin | Buy On | Sell On | Spread |
|---|---|---|---|
| BTC | Hyperliquid | Bybit | 0.10% |
| SOL | Hyperliquid | Bybit | 0.07% |
| HYPE | Hyperliquid | Bybit | 0.06% |
| ETH | Hyperliquid | Bybit | 0.06% |
FAQ
Does Hyperliquid require KYC?
Is Hyperliquid available from Russia?
How does funding differ between a CEX and a perp-DEX?
Where is it safer to keep funds?
What to choose
0 of 1 criteria are comparable for Bybit and Hyperliquid. An overall winner requires data for every criterion; with incomplete data, choose by the task you need.
Neither fits? Pick an exchange by task →