Bybit or Hyperliquid?
Bybit and Hyperliquid are compared here on what matters when you choose where to trade: base trading fees, how many coins each lists, how quickly they add new ones, perpetual prices and funding on the coins both list, and safety signals such as proof of reserves and restricted regions. Live numbers update from the exchanges' public market data; fees and policies were checked against each exchange's own pages.
Bybit lists 892 coins and Hyperliquid 458. 210 coins trade on both, 682 only on Bybit and 248 only on Hyperliquid. In the last 30 days Bybit added 0 new coins and Hyperliquid 0.
On the 174 perpetual contracts listed on both exchanges, Bybit was cheaper on 129 and Hyperliquid on 41, with a typical gap of 0.067%. Gaps like these are what the arbitrage scanner tracks; average 24h funding on the shared coins was -0.003% on Bybit and +0.019% on Hyperliquid.
Fees above are base-tier rates before VIP levels and token discounts; Hyperliquid offers 5 discount options. Availability depends on where you live, so check the restricted regions before signing up.