Unlike in the original OoT, there is no Deku Baba by the second basement entrance which you can use to megasidehop. However, you can lure one of the Gohma larvae from the upper level down to where the Baba is in the original game. Use a Deku Nut to stun it once it is in position and then you can perform the megasidehop as normal.
Head over to the right of the second basement where the Deku Baba is and grab the ledge in front of it. Wait for it to attack and pull back. Once it has pulled back, quickly pull yourself up and do a quick roll and backflip to megaflip off of the Baba to the higher ledge.
Note: You will want to get flame storage off the torch on the left side of the room so that you can burn the web.