Hyperliquid vs Bybit
Hyperliquid 
BybitA side-by-side look at Hyperliquid and Bybit: what you pay per trade, who holds your funds, whether you need KYC and how the native tokens differ.
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Activate 4% fee discount Opens the official app.hyperliquid.xyz — no sign-up form, connect your wallet.
| Feature | Hyperliquid | Bybit |
|---|---|---|
| Exchange type | Decentralized (DEX) | Centralized (CEX) |
| Native token | HYPE | MNT |
| Perpetuals Maker | 0.015% | 0.020% |
| Perpetuals Taker | 0.045% | 0.055% |
| Self-custody | ✓ | — |
| No KYC | ✓ | — |
| Fully on-chain order book | ✓ | — |
| Referral discount | 4% (RABAT) | — |
- Hyperliquid + RABAT0.0432%
- Hyperliquid0.0450%
- Bybit0.0550%
Which one should you choose?
Bybit is a large centralized exchange: it holds your funds and requires KYC. Hyperliquid lets you trade perpetuals from your own wallet, with no KYC, lower base fees and a fully on-chain order book. With code RABAT you also get 4% off fees.
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