Volume Monitor
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: $17.17B, 2.6× Bybit's $6.68B. The two list 174 coins in common, out of 773 on Bybit and 178 on Hyperliquid. Funding on the shared coins averages -0.0035% per 8h on Bybit and 0.0108% on Hyperliquid; of 174 coins, Hyperliquid's rate is higher on 64, Bybit's on 8 and 102 are equal. The widest funding gap is on SAGA: 0.8619% per 8h higher on Hyperliquid (≈944% APR).

174 shared coins1,100 perpsAs of 21:42 UTC

Bybit open interest#5 of 8
$6.68B
28.0% of the pair
Hyperliquid open interest#2 of 8
$17.17B
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$6.68B$17.17B
Share of all exchanges tracked7.9%20.2%
Perp volume, 24h$8.58B$4.19B
Perpetual markets773327
OI on the 174 shared coins$5.91B$12.99B
Avg funding on shared coins / 8h-0.0035%0.0108%
Higher funding on8 coins64 coins
OI-weighted funding, all perps / 8h0.0047%0.0124%
Liquidations, 24h$7.11M—

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
1BTC0.0035%0.0094%-0.0060%$2.35B$3.16B
2ETH0.0015%0.0100%-0.0085%$1.06B$2.95B
3HYPE-0.0088%0.0100%-0.0188%$147.31M$1.88B
4SOL0.0061%0.0100%-0.0039%$432.72M$692.29M
5ZEC0.0100%0.0167%-0.0067%$138.75M$838.22M
6NEAR0.0100%0.0551%-0.0451%$129.40M$443.48M
7XRP0.0100%0.0100%0.0000%$171.89M$307.62M
8ENA0.0100%0.0100%0.0000%$68.41M$171.60M
9LIT0.0100%0.0100%0.0000%$17.44M$212.39M
10DOGE0.0039%0.0431%-0.0392%$72.66M$126.63M
11UNI0.0002%0.0100%-0.0098%$50.69M$112.68M
12SUI0.0045%0.0288%-0.0243%$52.85M$104.27M
13WLD0.0100%0.0538%-0.0438%$52.20M$98.18M
14LINK0.0100%0.0100%0.0000%$43.86M$100.46M
15TAO0.0100%0.0100%0.0000%$32.56M$105.89M
16XPL0.0100%0.0628%-0.0528%$27.83M$108.40M
17ONDO0.0100%0.0152%-0.0052%$50.27M$84.19M
18AAVE0.0100%0.0100%0.0000%$31.28M$83.62M
19BNB-0.0006%0.0100%-0.0106%$61.83M$50.22M
20LTC0.0064%0.0100%-0.0036%$46.87M$55.34M

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.