Binance vs Bybit
Binance vs Bybit for perpetual futures: maker and taker fees, liquidity depth, country restrictions and product range. Which venue actually costs less to trade.
- FinCEN-registered MSB
- NMLS ID 1804170 · 40+ US state licences
- Operating since 2013
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| Binance | Bybit | |
|---|---|---|
| Spot maker / taker | 0.1% / 0.1% | 0.1% / 0.1% |
| Founded | 2017 | 2018 |
| Headquarters | No single declared headquarters | Dubai, United Arab Emirates |
| Assets listed | 350+ | 600+ |
| Fiat currencies | EUR, GBP (limited), plus local rails by region | EUR, GBP, plus local payment providers |
| Derivatives | USDⓈ-M and COIN-M perpetuals, taker 0.05% / maker 0.02% at base tier | Perpetual and futures contracts, taker 0.055% / maker 0.02% at base tier |
| KYC | Full KYC required. Unverified accounts cannot deposit, trade or withdraw. | KYC required for fiat rails and for higher withdrawal limits. |
| Key restrictions | United States (see Binance.US), Canada, Netherlands, United Kingdom (restricted products), China (mainland) | United States, Canada, Singapore, China (mainland), Hong Kong |
| Full Binance review | Full Bybit review |
The verdict first
A genuine contest, because both are derivatives-first venues serving broadly similar markets. Binance has deeper books, which matters most when you are sizing up or trading in volatility. Bybit is cheaper on derivatives taker fees at the base tier (0.055% against 0.05% — close enough that liquidity matters more) and has moved further towards regulated access in the UK, EEA and India. Neither serves the United States.
Binance in one paragraph
Binance is the largest exchange in the world by spot and derivatives volume, and its perpetual futures market is the reference venue for most of the data on this site. It is also the exchange with the most complicated regulatory map: it has exited or been excluded from a long list of jurisdictions, and its derivatives products are unavailable in far more places than its spot market.
Bybit in one paragraph
Bybit built its reputation on perpetual futures and remains a derivatives-led exchange, though its spot market is now substantial. Over the past two years it has moved deliberately towards regulated access — an FIU registration in India, a UK relaunch through a local intermediary, and EEA service through a MiCA-authorised entity.
What the fee difference actually costs
On a $10,000 market order, Binance's 0.1% taker fee costs $10 and Bybit's 0.1% costs $10 — a difference of $0 per trade. Trade twice a week for a year and that gap compounds to roughly $0.
That arithmetic only matters if you trade. If you buy once a month and hold, the fee difference is noise next to whether the venue is available in your country, whether your bank will fund it, and whether it is still operating in five years.
Who should pick which
- Pick Binance if deepest liquidity and tightest spreads of any venue matters most to you, and you can access it where you live.
- Pick Bybit if very deep perpetual futures books, second only to binance matters more.
- Pick neither if you are in a jurisdiction where the one you prefer restricts the product you want — that decision is made for you, and trying to route around it puts your funds at risk of being frozen.
Frequently asked questions
Is Binance or Bybit cheaper?
At base tier, Binance: 0.1% maker / 0.1% taker against Bybit's 0.1% / 0.1%. Both reduce with volume, and both charge considerably more on their simple buy interfaces. Work out the cost of a specific trade in our fee calculator.
Which is safer, Binance or Bybit?
"Safer" depends on what you are protecting against. Binance has the longer operating record, running since 2017. On regulatory footing: Binance — No single declared headquarters; Bybit — Dubai, United Arab Emirates. Neither operating history nor licensing guarantees anything, but they are the only evidence available before the fact.
Can I use both Binance and Bybit?
In many jurisdictions, yes, and plenty of traders do — one venue for fiat on-ramp and long-term holdings, another for the deeper books or the wider listing. Check the country restrictions on each review page first: Binance restricts United States (see Binance.US), Canada, Netherlands among others, and Bybit restricts United States, Canada, Singapore.
Which has more coins listed?
Binance lists 350+ and Bybit lists 600+. More is not automatically better — a longer listing also means a higher share of thinly traded, low-quality assets.