Binance vs Bybit
Two offshore giants. One is a supermarket, the other is a derivatives desk.
Binance
The deepest order books in crypto, with the widest product range.
Bybit
A derivatives-first exchange that grew into a full-service platform.
This is the most common comparison in crypto and the answer usually comes down to one question: are you mostly trading perpetuals, or do you want one account that does everything?
Binance wins on breadth and on spot depth. Bybit wins on derivatives ergonomics and on how it handled the worst day of its life.
Side by side
| Binance | Bybit | |
|---|---|---|
| Overall score | 8.5 | 8.3 |
| Spot maker | 0.1% | 0.1% |
| Spot taker | 0.1% | 0.1% |
| Futures maker | 0.02% | 0.02% |
| Futures taker | 0.05% | 0.055% |
| Assets listed | 400+ | 600+ |
| Founded | 2017 | 2018 |
| Proof of reserves | Yes | Yes |
| Copy trading | Yes | Yes |
| Options | Yes | Yes |
| Restricted in | US | US, CA |
Which one, for whom
Active futures traders
Bybit
A faster, cleaner derivatives engine and better funding-rate tooling, at fees within a rounding error of Binance.
Spot and altcoin traders
Binance
Deeper books across far more pairs, so large orders fill closer to the quoted price.
Anyone who wants one account for everything
Binance
Spot, margin, perps, options, earn, P2P and card rails in one place.
Frequently asked questions
Is Bybit cheaper than Binance?
On perpetual futures they are effectively level: 0.02% maker on both, with Binance a half basis point cheaper on the taker side. On spot, both charge 0.10%, but Binance drops to 0.075% if you pay fees in BNB.
Can US traders use either?
No. Both block US retail traders. US residents should look at Kraken or Coinbase instead.
Keep researching
Full reviews
- Binance review
The deepest order books in crypto, with the widest product range.
- Bybit review
A derivatives-first exchange that grew into a full-service platform.
Other comparisons
Still deciding? Compare the cost on your own trade size with the fee calculator.