Bybit vs Hyperliquid

Bybit is a centralized exchange with a wide menu of coins, options and tokenized stocks, while Hyperliquid is a decentralized exchange built mainly around futures trading. The clearest split: Bybit asks everyone to complete identity checks, while Hyperliquid makes them optional and runs on-chain.

Bybit vs Hyperliquid

Category	BBybit9/10	HHyperliquid8.8/10
Overview
CryptoWinRate score	9/10 (higher)	8.8/10
Founded	2018	2021
Headquarters	Dubai	Singapore
Founder	Ben Zhou	Jeff Yan
CEO	Ben Zhou	Jeff Yan
KYC	Required	No KYC
MiCA licence	No	No
EU platform	Via Bybit EU	—
Availability
Available in your country	—	—
Restricted countries	42 countries	2 countries
Deposits and withdrawals
Deposit methods	18 methods	10 methods
Withdrawal methods	6 methods	1 method
24-hour withdrawal limitKYC 0	$20,000	—
24-hour withdrawal limitKYC 1	$1,000,000	—
24-hour withdrawal limitKYC 2	$2,000,000	—
Trading fees
Spot maker fee	0.1%	0.04% (lower)
Spot taker fee	0.1%	0.07% (lower)
Futures maker fee	0.02%	0.015% (lower)
Futures taker fee	0.055%	0.045% (lower)
Options feesmaker/taker	0.02% / 0.03%	—
Coins and markets
Spot assetscrypto	380 (higher)	316
Futures contractscrypto	711 (higher)	183
Options assets	8	—
Stocks	548 (higher)	111
ETFs	18 (higher)	1
FX pairs	65 (higher)	3
Indices	20 (higher)	9
Commodities	22 (higher)	9
Leverage and margin
Max leverage	100×	40×
Spot margin	10×	—
Features
Spot	Yes	Yes
Futures	Yes	Yes
Options	Yes	No
Prediction Markets	No	Yes
P2P	Yes	No
Demo Trading	Yes	Yes
Copy Trading	Yes	Yes
Trading Bots	Yes	No
Loans	Yes	No
Lending	Yes	No
Staking	Yes	Yes
Debit card	Yes	No
Security
Proof of reserves	YesAttestation ↗	Self-custody
Cold storage	Yes	Self-custody
Two-factor authentication	Yes	Self-custody
Withdrawal address whitelist	Yes	Self-custody
Anti-phishing passphrase	Yes	Self-custody
Reported hacks	YesSource ↗	—
Sign-up bonus
Bonus	$30,000	—
Fee discount	—	4%
	Visit Bybit ↗Read review →	Visit Hyperliquid ↗Read review →

Availability in your country is checked live against each exchange's restricted-country list.

Who should choose Bybit

Bybit fits traders who want everything in one account. It offers spot on 380 coins, futures on 577 coins across 711 markets, options on 8 coins, and 548 tokenized stocks. Leverage reaches 100x. It also brings lending, loans, a debit card and copy trading. You will need to pass identity checks to use it, and it holds no MiCA licence, so customers in the EU sign up with Bybit EU, a separate platform with a MiCA licence.

Who should choose Hyperliquid

Hyperliquid suits traders focused on futures who prefer trading without handing over identity documents, since checks are optional. Its futures fees, 0.015% maker and 0.045% taker, run below Bybit’s, and its spot fees are lower too. It covers 316 spot coins and futures on 183 coins, with leverage up to 40x, plus prediction markets. There is no debit card, no lending or loans, and no options.

Verdict

Pick Bybit if you want one account for spot, options, tokenized stocks, higher leverage and card spending, and don’t mind identity checks. Pick Hyperliquid if you trade futures, want lower fees, and prefer keeping identity checks optional on a decentralized platform.