Cheapest exchange to trade BTC perpetual futures
Lighter had the lowest BTC perp cost at $10,000 and at $1,000,000: 0.44 bps and 0.78 bps.
- Lighter, $10K BTC
- 0.44 bps
- Rank 2, Paradex
- 0.60 bps
- Venues ranked
- 38
- Rank 1 at $1M, Lighter
- 0.78 bps
BTC cost by venue at three order sizes (bps)
| # | Venue | $10,000 | Fee | Spread + impact | $100,000 | $1,000,000 | Type | Depth read | Top 5, 7 days | Rank 1, 7 days |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lighter | 0.44 | 0.00 | 0.44 | 0.51 | 0.78 | DEX | $13.9M | 28 | 28 |
| 2 | Paradex | 0.60 | 0.00 | 0.60 | 0.96 | — | DEX | $659K | 28 | 0 |
| 3 | MEXC | 2.01 | 2.00 | <0.01 | 2.01 | 2.06 | CEX | $274.1M | 28 | 0 |
| 4 | Extended | 2.56 | 2.50 | 0.06 | 2.56 | 2.93 | DEX | $11.2M | 28 | 0 |
| 5 | Ondo | 3.22 | 2.50 | 0.72 | 5.31 | 17.07 | DEX | $2.1M | 21 | 0 |
| 6 | NADO | 3.56 | 3.50 | 0.06 | 3.58 | 4.99 | DEX | $11.6M | 0 | 0 |
| 7 | Deribit | 3.71 | 3.50 | 0.21 | 3.71 | 4.79 | CEX | $33.6M | 5 | 0 |
| 8 | RISEx | 3.91 | 3.00 | 0.91 | 3.91 | 12.23 | DEX | $4.5M | 2 | 0 |
| 9 | Gains | 4.01 | 3.50 | 0.51 | 4.08 | 4.76 | DEX, oracle | — | 0 | 0 |
| 10 | Pacifica | 4.06 | 4.00 | 0.06 | 4.39 | — | DEX | $245K | 0 | 0 |
| 11 | Aster | 4.11 | 4.00 | 0.11 | 4.37 | 4.60 | DEX | $58.0M | 0 | 0 |
| 12 | Crypto.com | 4.14 | 4.00 | 0.14 | 5.27 | 8.49 | CEX | $4.4M | 0 | 0 |
| 13 | SunX | 4.44 | 4.00 | 0.44 | 5.99 | 7.96 | DEX | $6.0M | 0 | 0 |
| 14 | GRVT | 4.51 | 4.50 | <0.01 | 4.51 | 5.47 | DEX | $4.1M | 0 | 0 |
| 15 | edgeX | 4.52 | 4.50 | 0.02 | 4.52 | 4.74 | DEX | $54.8M | 0 | 0 |
| 16 | Hyperliquid | 4.56 | 4.50 | 0.06 | 4.56 | 4.79 | DEX | $44.5M | 0 | 0 |
| 17 | Binance | 5.01 | 5.00 | <0.01 | 5.01 | 5.70 | CEX | $40.7M | 0 | 0 |
| 17 | Gate.io | 5.01 | 5.00 | <0.01 | 5.01 | 6.07 | CEX | $9.0M | 0 | 0 |
| 17 | OKX | 5.01 | 5.00 | <0.01 | 5.01 | 5.27 | CEX | $95.8M | 0 | 0 |
| 20 | Hibachi | 5.04 | 4.50 | 0.54 | 5.22 | — | DEX | $971K | 0 | 0 |
| 21 | Kraken | 5.06 | 5.00 | 0.06 | 5.98 | 7.17 | CEX | $55.6M | 0 | 0 |
| 22 | Apex Omni | 5.23 | 5.00 | 0.23 | 5.23 | 7.74 | DEX | $15.7M | 0 | 0 |
| 23 | Avantis | 5.50 | 4.50 | 1.00 | 5.50 | 6.08 | DEX, oracle | — | 0 | 0 |
| 24 | Bybit | 5.51 | 5.50 | <0.01 | 5.51 | 5.93 | CEX | $55.4M | 0 | 0 |
| 25 | StandX | 5.52 | 4.00 | 1.52 | 8.52 | 15.83 | DEX | $3.6M | 0 | 0 |
| 26 | Bluefin | 5.83 | 3.50 | 2.33 | 10.54 | — | DEX | $149K | 0 | 0 |
| 27 | Bitget | 6.01 | 6.00 | <0.01 | 6.01 | 6.98 | CEX | $15.7M | 0 | 0 |
| 27 | Bitunix | 6.01 | 6.00 | <0.01 | 6.01 | 6.05 | CEX | $42.9M | 0 | 0 |
| 27 | HTX | 6.01 | 6.00 | <0.01 | 6.30 | 8.29 | CEX | $16.5M | 0 | 0 |
| 27 | Phemex | 6.01 | 6.00 | <0.01 | 6.32 | 7.48 | CEX | $18.3M | 0 | 0 |
| 27 | Toobit | 6.01 | 6.00 | <0.01 | 6.01 | 6.03 | CEX | $170.2M | 0 | 0 |
| 32 | BloFin | 6.01 | 6.00 | 0.01 | 6.01 | 6.32 | CEX | $4.4M | 0 | 0 |
| 33 | KuCoin | 6.04 | 6.00 | 0.04 | 6.04 | 7.60 | CEX | $40.7M | 0 | 0 |
| 34 | GMTrade | 6.07 | 6.00 | 0.07 | 6.32 | 7.40 | DEX, oracle | — | 0 | 0 |
| 35 | dYdX | 6.58 | 5.00 | 1.58 | 8.92 | 13.07 | DEX | $134.0M | 0 | 0 |
| 36 | WhiteBIT | 7.11 | 5.50 | 1.61 | 8.15 | 13.88 | CEX | $5.1M | 0 | 0 |
| 37 | Ostium | 7.23 | 6.00 | 1.23 | — | — | DEX, oracle | — | 0 | 0 |
| 38 | GMX | 7.78 | 6.00 | 1.78 | 7.85 | 8.50 | DEX, oracle | — | 0 | 0 |
Not ranked at $10,000: BingX, XT.COM (depth not confirmed); Jupiter, MYX (quote not measured).
Lighter charged no taker fee on its base tier, so spread and impact made up its whole 0.44 bps BTC cost.
Only two of the 38 BTC venues had more book cost than fee, so the published fee decided most ranks.
BTC cost facts
- Median taker fee, $10,000
- 4.50 bps
- Median spread and impact, $10,000
- 0.07 bps
- Books under 0.1 bps at $10,000
- 20 of 38
- Median CEX and DEX total, $10,000
- 5.76 bps and 4.51 bps
- Median cost added up to $1,000,000
- 0.98 bps
- Books that cannot fill $1,000,000
- 5
Stored sweep of October 16, 2026 at 06:55 UTC, cost methodology v9. Values in basis points (bps).
BTC analysis by section6 sections from the same sweep
8 venues had the same total as another venue, because they charge the same fee and their spreads were almost zero.
BTC fee tiers and the rank order
The ranking uses the base-tier taker fee of each venue. For BTC at $10,000, the median fee was 4.50 bps and the median spread plus impact was 0.07 bps. The fee was 67.2 times the book cost on the median venue. On 20 venues, spread and impact added less than 0.1 bps.
Bitget, Bitunix, HTX, Phemex and Toobit each cost 6.01 bps and shared rank 27. All of them charge 6.00 bps, and each of their books added less than 0.01 bps.
A trader on a lower fee tier, or with a fee discount, can get a different BTC order. Enter your own tier in the fee calculator to compare venues.
Lighter and Paradex on BTC
At the base tier, Lighter charges no taker fee and Paradex charges no taker fee. On the $10,000 BTC order, their books added 0.44 bps and 0.60 bps.
The order of the two venues was not the same at all three sizes. The size columns of the BTC table show each order.
BTC from $10,000 to $1,000,000
A move from $10,000 to $1,000,000 added 0.98 bps on the median BTC venue. No other stored asset had a smaller median increase. HYPE had the largest, at 17.81 bps. The largest BTC step was on Ondo, from 3.22 bps to 17.07 bps.
At $100,000, 37 BTC venues had a rank, with a median total of 5.27 bps. Lighter kept rank 1 at $1,000,000 with 0.78 bps. Bluefin, Hibachi, Ostium, Pacifica and one more could not fill $1,000,000 of BTC within 2% of the best price.
BTC venues where the book cost more than the fee
At $10,000, Lighter and Paradex had more book cost than fee. Their book costs were 0.44 bps and 0.60 bps, against fees of 0.00 bps and 0.00 bps.
At $1,000,000, 7 of 33 BTC venues had more book cost than fee, for example Lighter, Crypto.com and RISEx.
The highest $10,000 book cost was on Bluefin, 2.33 bps, and it had rank 26 of 38.
Centralized and decentralized BTC venues
16 centralized exchanges (CEX) and 22 decentralized exchanges (DEX) had a BTC rank at $10,000. The median CEX total was 5.76 bps, and the median DEX total was 4.51 bps. The first CEX, MEXC, had rank 3.
At $1,000,000, 16 CEX and 17 DEX venues kept a rank. The DEX median stayed lower at both sizes, by 1.24 bps and then by 0.12 bps.
Five of the BTC DEX venues take the fill price from a price oracle, not from their own order book. The first of them, Gains, had rank 9 at 4.01 bps.
BTC rank 1 and the top five over 7 days
Lighter had BTC rank 1 in all 28 stored sweeps of the last 7 days. Extended, MEXC and Paradex were also in the top five in every sweep. Ondo (21), Deribit (5) and RISEx (2) reached the BTC top five in fewer sweeps.
Terms used on this page
- Total trading cost (all-in cost)
- Total trading cost (all-in cost) is the selected-side cost of one order at a given size: the fee plus half of the spread plus the price impact, in bps and USD.
- Bid-ask spread
- The spread is the gap between the best bid and the best ask, in basis points (bps) of the mid price. A market order pays half of the spread.
- Slippage (price impact)
- Slippage (price impact) is the extra cost of an order that fills through more than one price level, measured beyond the best quote. A larger order has more price impact.
Cite this data
Use the page address and the date of the data. Attribute the data as "Data: PerpFinder" with a link to the page.
PerpFinder. "Cheapest exchange to trade BTC perpetual futures." Stored sweep of October 16, 2026 at 06:55 UTC, cost methodology v9. https://perpfinder.com/cheapest-perp-exchange/btc BTC 7-day cost series (CSV): https://perpfinder.com/api/data/cost-history?market=perp&asset=BTC&size=10000&days=7&format=csv
Download: BTC 7-day cost series (CSV)
More BTC data
Download the 7-day BTC cost series (CSV). The BTC asset page shows funding rates and open interest, which this cost does not include. The live cost comparison reads the books when you open it.