Bybit vs Hyperliquid
A live, data-based comparison of stock tokens and stock perpetuals on Bybit and Hyperliquid; 104 stocks trade on both. Check the venue's live quote and terms before ordering.
Which to choose
- Bybit lists more stock tokens (11 vs 0 on Hyperliquid).
- Bybit lists more stock perpetuals (279 vs 131 on Hyperliquid).
- Hyperliquid is an on-chain venue you trade by connecting a wallet, without identity verification; Bybit is a centralized exchange that requires an account and KYC.
Overview
| Overview | Bybit | Hyperliquid |
|---|---|---|
| Spot tokens | 11 | 0 |
| Perpetuals | 279 | 131 |
| Underlyings covered | 279 | 116 |
| Stock token 24h volume | $1.06M | — |
| Stock perpetual 24h volume | $216.30M | $307.54M |
| Token series | xStocks | — |
| Max leverage | 100× | 50× |
| Stock tokens (maker / taker) | See the official fee page | — |
| Stock perpetuals (maker / taker) | Same as standard USDT perpetuals (per Bybit); see the fee page | Standard fees on third-party markets such as trade.xyz are 0.03% maker and 0.09% taker; markets in growth mode are discounted by 90% or more |
| Account | KYC required | Wallet only, no account needed |
| Regions excluded by the terms | Mainland China, Hong Kong, Singapore | the terms do not list mainland China, Hong Kong, Taiwan or the Southeast Asian markets we track (which does not mean it is legal locally) |
Fees are base rates for regular users (maker / taker) from the exchanges' public feeds; for venues without a feed, rely on the official fee page. Fee comparison →
Stocks on both venues 104
104 stocks have perpetuals on both: funding is lower on Bybit for 62 of them and on Hyperliquid for 42 (when funding is positive longs pay, so lower means cheaper to hold a long).
| Stock | Premium | Funding rate | ||
|---|---|---|---|---|
| Bybit | Hyperliquid | Bybit | Hyperliquid | |
| · | · | +0.1017% | -0.0526% | |
| · | · | +0.0241% | -0.0209% | |
| · | · | +0.0205% | +0.0050% | |
| · | · | 0.0000% | -0.0033% | |
| — | · | +0.0257% | +0.0050% | |
| · | · | +0.0659% | -0.0040% | |
| · | · | +0.0413% | +0.0050% | |
| · | · | -0.0345% | -0.0952% | |
| +0.04% | · | 0.0000% | +0.0050% | |
| · | · | +0.0482% | +0.0122% | |
| · | · | +0.0375% | +0.0050% | |
| — | · | 0.0000% | -0.0515% | |
| -0.02% | · | 0.0000% | -0.0003% | |
| · | · | -0.0009% | -0.0695% | |
| · | · | 0.0000% | +0.0050% | |
Premium is the lowest among each venue's comparable stock tokens (normalized by shares per token); funding is from the venue's most-traded perpetual. "·" means the venue has no such product; "—" means it has one but the premium cannot be compared.
Popular stocks on only one venue
Only on Bybit:
SPY
SKHYNIX
SOXS
QQQ
MUU
TQQQ
SAMSUNG
SQQQ
Only on Hyperliquid:
Next steps
Bybit
11 stock tokens · 279 stock perpetuals
- See all stock tokens and perpetuals on Bybit →
- How to Open a Bybit Account: Sign-Up, KYC and Stock Products →
Hyperliquid
0 stock tokens · 131 stock perpetuals
- See all stock tokens and perpetuals on Hyperliquid →
- Hyperliquid Stock Perpetuals: Wallets, HIP-3 and Funding →
Frequently asked questions
Which has more stock tokens, Bybit or Hyperliquid?
Bybit has 11 stock tokens and 279 stock perpetuals; Hyperliquid has 0 stock tokens and 131 stock perpetuals. 104 stocks trade on both.
Which regions cannot use Bybit or Hyperliquid?
Bybit: Mainland China, Hong Kong, Singapore. Hyperliquid: the terms do not list mainland China, Hong Kong, Taiwan or the Southeast Asian markets we track (which does not mean it is legal locally). Rely on the venue's latest terms and local rules.
More exchange comparisons
Market data comes from each venue's public feeds and is for reference only, not investment advice. Stock tokens and stock perpetuals are volatile and high risk, and some venues or products are unavailable in certain countries and regions. Check local rules and the venue's terms before trading.