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Live crypto data · 8 exchanges

Bybit vs Hyperliquid

Bybit and Hyperliquid side by side from their public APIs: open interest, 24h perp volume, number of markets, the coins both list and funding on those coins, with the spread between the two. Each exchange also has its own page with its largest markets.

Hyperliquid has more perpetual open interest: $17.11B, 2.6× Bybit's $6.66B. The two list 174 coins in common, out of 773 on Bybit and 178 on Hyperliquid. Funding on the shared coins averages 0.0099% per 8h on Bybit and 0.0086% on Hyperliquid; of 174 coins, Bybit's rate is higher on 8, Hyperliquid's on 29 and 137 are equal. The widest funding gap is on SAGA: 1.1777% per 8h higher on Bybit (≈1290% APR).

174 shared coins1,100 perpsAs of 00:00 UTC

Bybit open interest#5 of 8
$6.66B
28.0% of the pair
Hyperliquid open interest#2 of 8
$17.11B
72.0% of the pair
Shared coins
174
599 only on Bybit · 4 only on Hyperliquid

Bybit vs Hyperliquid head to head

MetricBybitHyperliquid
Open interest$6.66B$17.11B
Share of all exchanges tracked7.9%20.2%
Perp volume, 24h$9.19B$4.69B
Perpetual markets773327
OI on the 174 shared coins$5.90B$12.92B
Avg funding on shared coins / 8h0.0099%0.0086%
Higher funding on8 coins29 coins
OI-weighted funding, all perps / 8h0.0095%0.0057%
Liquidations, 24h$12.91M—

Liquidations are compared only when both exchanges publish a liquidation feed this site reads.

Funding and open interest on shared coins

top 20 of 174 by combined OI
# Coin Bybit funding Hyperliquid funding Spread / 8h Bybit OI Hyperliquid OI
1BTC0.0100%0.0082%0.0018%$2.34B$3.10B
2ETH0.0100%0.0100%0.0000%$1.07B$2.96B
3HYPE0.0100%0.0100%0.0000%$147.94M$1.89B
4SOL0.0100%0.0100%0.0000%$430.63M$688.19M
5ZEC0.0100%0.0100%0.0000%$135.50M$834.29M
6NEAR0.0100%0.0469%-0.0369%$126.14M$420.86M
7XRP0.0100%0.0100%0.0000%$171.66M$321.78M
8ENA0.0100%0.0100%0.0000%$64.04M$168.00M
9LIT0.0100%0.0100%0.0000%$17.49M$210.67M
10DOGE0.0100%0.0195%-0.0095%$72.67M$124.80M
11UNI0.0100%0.0100%0.0000%$50.82M$112.51M
12SUI0.0100%0.0100%0.0000%$53.04M$102.20M
13WLD0.0100%0.0394%-0.0294%$52.29M$96.55M
14ONDO0.0100%0.0272%-0.0172%$54.45M$90.04M
15LINK0.0100%0.0100%0.0000%$43.90M$100.21M
16XPL0.0100%0.0100%0.0000%$27.36M$105.09M
17TAO0.0100%0.0100%0.0000%$31.33M$100.19M
18AAVE0.0100%0.0100%0.0000%$31.13M$84.05M
19BNB0.0100%0.0100%0.0000%$62.55M$50.27M
20LTC0.0100%0.0100%0.0000%$47.05M$56.05M

Coverage. Bybit: Every liquidation (allLiquidation stream); OI and funding polled every 30s. Hyperliquid: No liquidations: Hyperliquid has no public all-market liquidation stream.

How it's counted. Open interest is the USD value of open perpetual positions (one side) at the mark price, summed over the markets this site tracks; stablecoin pairs are left out. Shared coins are coins with a perpetual on both exchanges (Hyperliquid HIP-3 markets excluded); where an exchange lists several perps for a coin, the one with the most open interest is used. Funding is the 8-hour equivalent; the spread is Bybit minus Hyperliquid.

Bybit vs Hyperliquid FAQ

Which has more open interest, Bybit or Hyperliquid?

The open interest cards at the top compare the USD value of open perpetual futures positions on each exchange, summed over every market this site tracks there and valued at the mark price. They update with every page load.

Is funding higher on Bybit or Hyperliquid?

The average funding figures cover only the coins both exchanges list, as 8-hour equivalents, so venues with 1-hour and 8-hour funding compare directly. The table shows each coin's rate on both and the spread; a wide spread is what a funding arbitrage trade collects.

How many coins do Bybit and Hyperliquid both list?

The shared coins count is the number of coins with a perpetual future on both exchanges right now. Stablecoin pairs and Hyperliquid HIP-3 markets are left out.

Where does the data come from?

Each exchange's public market-data API, read live by this site. Nothing here comes from paid data vendors.