Hyperliquid vs Bitget

Hyperliquid or Bitget: which to use

Hyperliquid vs Bitget is a decentralized exchange against a centralized one. On Hyperliquid you trade from your own wallet without ID, at 1.5 bp maker and 4.5 bp taker, with up to 40x. Bitget requires KYC, holds your funds in an account, and charges 2 bp maker and 6 bp taker, with up to 150x. As of 1 October 2026, Bitget lists 862 perp markets on one exchange, 345 of them real-world assets. Hyperliquid's own book lists 178 crypto markets, with stocks and commodities on HIP-3 exchanges. Custody, ID and leverage decide it for most traders.

How each exchange is built

Hyperliquid is a decentralized exchange (DEX) on its own chain, Hyperliquid L1. You trade from a self-custody wallet. It matches orders on a central limit order book. Other teams deploy their own perp exchanges on its chain under HIP-3, and you trade them from the same Hyperliquid account and wallet. The live ones include tradeXYZ (110 markets), Paragon (29), Entropy (8) and Markets by Kinetiq (5). Most of Hyperliquid's stock and commodity perps are on these exchanges.

Bitget is a centralized exchange (CEX): you open an account with the company, and the account holds your funds. It also matches orders on a central limit order book.

The practical difference is custody. On Hyperliquid your wallet holds the funds. On Bitget the account at the company does.

Fees and what they mean

Hyperliquid's base tier is 1.5 bp maker and 4.5 bp taker, per Hyperliquid's fee page. Bitget's is 2 bp maker and 6 bp taker, per Bitget's fee page.

A market order pays the taker fee to open and again to close: 9 bp per round trip on Hyperliquid, 12 bp on Bitget. A limit order that rests on the book pays the maker fee instead, 1.5 bp on Hyperliquid and 2 bp on Bitget.

The fee is only part of the cost. Slippage, the price you move by eating through the order book, grows with size. The cost table above adds both at each size. Every exchange's trading cost is also compared on one page.

Markets and leverage

As of 1 October 2026 Bitget lists 862 active perps, 345 of them stocks, commodities, FX or other real-world assets. Hyperliquid's own book lists 178, all crypto. Its stocks, commodities and FX trade on the HIP-3 exchanges above, from the same account.

Bitget allows up to 150x and Hyperliquid up to 40x on their highest-leverage markets. Most markets on both allow less. Hyperliquid pays funding every hour on every market. Bitget pays every 1 hour, 4 hours or 8 hours depending on the market, so check a market's interval before you hold it. An hourly market settles 24 times a day, a 4-hour market six times and an 8-hour market three times. A positive rate means longs pay shorts, so a long held through more settlements pays or receives that rate more often. The list further down this page shows the markets both exchanges have and each one's funding rate.

Who can use them

Hyperliquid asks for no ID. Any EVM wallet or an email login works. The app is closed to the US, Ontario and sanctioned countries.

Bitget requires KYC, mandatory since September 2023. Unverified accounts can only withdraw and close positions.

Vaults, tokens and points

Hyperliquid runs HLP (Hyperliquidity Provider), a vault that makes markets and takes liquidations, so its depositors carry the traders' profit and loss. It takes USDC, locks each deposit for 4 days and charges no fee. Hyperliquid's token is $HYPE, and as of 19 September 2026 its points program was in Season 2. Bitget's token is $BGB.

Reading the numbers on this page

Hyperliquid publishes open interest as longs plus shorts, both sides of every position. Bitget publishes one side of open positions. For the same positions Hyperliquid's figure reads about twice as large, so the open interest row and chart above are not a like-for-like comparison of size.

Bitget publishes no TVL, as is usual for a centralized exchange. The TVL row and chart show Hyperliquid alone, as DefiLlama's figure for the deposits its bridge holds.

Which one fits you

• Pick Hyperliquid if you want to keep funds in your own wallet and trade without ID.
• Pick Hyperliquid if you trade with market orders: 4.5 bp taker against 6 bp.
• Pick Hyperliquid if you want every market on an hourly funding schedule, or a vault to deposit in.
• Pick Bitget if you prefer an exchange account and accept KYC.
• Pick Bitget if you want 862 markets on one exchange (as of 1 October 2026), including 345 real-world asset perps.
• Pick Bitget if you need more than 40x, up to 150x on its highest-leverage markets.