| Metric | Binance | Bybit |
|---|---|---|
| Volume 24h (live) | $64.27b✓ | $15.11b |
| Max Leverage | 150x | 150x |
| Maker Fee | 0.020% | 0.020% |
| Taker Fee | 0.050%✓ | 0.055% |
| Trading Pairs | 350+ | 400+ |
| Rating (how we rank) | 9/10 | 8.7/10 |
| Founded | 2017 | 2018 |
| Regulated In | Dubai, Abu Dhabi (ADGM), Japan | UAE (SCA), Cyprus, Kazakhstan |
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Feature comparison
| Feature | Binance | Bybit |
|---|---|---|
| Trading Fees | Maker: 0.02% / Taker: 0.05%✓ | Maker: 0.02% / Taker: 0.055% |
| Sign-Up Bonus | Up to $19,800 (tiered) | Up to $30,000 bonus✓ |
| Max Leverage | Up to 150x | Up to 150x |
| Trading Pairs | 350+ perpetual pairs | 400+ perpetual pairs✓ |
| Copy Trading | Available (newer) | Mature ecosystem✓ |
| Regulation | Dubai VARA + ADGM FSRA✓ | UAE SCA licence |
| Ecosystem Depth | Spot, futures, options, P2P, earn, NFT, launchpad✓ | Spot, futures, options, copy trade, Web3 wallet |
Advantages and trade-offs
Binance
- Among the highest-volume, deepest-liquidity crypto exchanges
- Over 350 perpetual futures pairs including many altcoins
- Low maker fee of 0.02% with further discounts via BNB holdings
- Up to 150x leverage on BTC/USDT for small positions
- 2023 settlement with US regulators and ongoing scrutiny in multiple jurisdictions
- Restricted or unavailable in the United States and several other markets
- Platform complexity can be overwhelming for newer traders
Bybit
- Over 400 perpetual futures pairs, one of the widest selections available
- Derivatives-first platform with a clean, trader-oriented interface
- Strong copy trading and native grid/DCA trading bot infrastructure
- Third-party verified Proof of Reserves for transparency
- Does not serve US residents
- Taker fee of 0.055% is slightly above average among top-tier exchanges
- Spot offering is secondary to the derivatives focus
Binance and Bybit are two large centralized crypto exchanges for perpetual futures trading. Both have competitive fees and wide product ranges. The real differences show up in fee structure, bonus offers, product range, and how each handles regulation.
Sign-up bonuses
Both exchanges run tiered welcome bonuses for new users. The Binance offer is up to $19,800, and most users unlock far less. The Bybit offer is up to $30,000 in deposit and trading rewards.
Each tier needs a deposit or volume target in the first 30 days. A welcome bonus is not a fee discount. Read the terms on each deal page before you deposit.
Trading fees comparison
Base tier fees are close, but the gap matters for active traders. Binance charges 0.02% maker and 0.05% taker on USDT-margined perpetual futures. Bybit charges 0.02% maker and 0.055% taker. That 0.5 basis point taker gap adds up fast.
On a $100,000 taker trade, you pay $50 on Binance versus $55 on Bybit. Over $1 million in monthly taker volume, Bybit costs $50 more. Over a year, that is $600 extra for the same trades.
Both exchanges have VIP tier discounts. Binance uses 30-day volume and BNB holdings to set your tier. Bybit uses total volume and balance thresholds. At the top VIP tiers, both offer maker rebates — you get paid to add liquidity. Binance also gives a 10% fee cut for paying in BNB. Bybit cannot match this.
With the BNB cut, Binance's taker fee drops to 0.045%. A trader doing $5 million in monthly taker volume saves $250 per month from the BNB cut alone. Use our fee calculator to model costs at your volume, or see the full fee arithmetic section for broader context.
Leverage & margin
Leverage caps are close. Binance offers up to 150x on BTC/USDT perpetuals. Bybit also caps at 150x on the same pair. Most traders never use 150x — anything above 20x is extreme. Both platforms cut max leverage for larger positions. Both support cross-margin, isolated-margin, and multi-asset margin modes.
Market coverage & liquidity
Binance lists 350+ perpetual pairs. Bybit offers 400+. Bybit tends to list new tokens faster, especially meme coins, drawing speculative traders who want early access. The BTC/USDT tick size is $0.10 on both exchanges (Binance and Bybit APIs, read 2026-09-23).
Thus the smallest possible BTC/USDT spread is $0.10 on each. Book depth changes during the day. The BTC cost ranking shows the measured cost of market buys at three sizes on both books.
BTCUSDT settles funding every 8 hours on both exchanges. Other symbols can settle every 4 hours or every hour, so check the contract. Track live rates on our funding rates dashboard.
In extreme conditions, rates can spike on both. Both have USDT-margined and coin-margined perpetuals. Bybit also has USDC-margined pairs on select contracts, useful if you want dollar exposure without USDT risk.
Platform features & products
Beyond futures, Binance and Bybit look very different. Binance offers spot, margin, options, a token launchpad, P2P fiat in 100+ countries, Binance Earn (staking, savings, dual investment), and an NFT market. Bybit has grown from its futures roots to include spot, options, copy trading, a Web3 wallet with DEX access, and a launchpad.
Binance's range is still wider. Its P2P platform is a big deal for traders in countries with limited fiat access.
Copy trading is where Bybit leads. Bybit has one of the most active copy trading groups in crypto. Users browse master traders by ROI, drawdown, follower count, and win rate, then put capital in to mirror their futures trades.
The platform supports fixed-ratio and custom modes. Binance also offers copy trading. Compare the lead-trader data on each platform before you copy a trader. Past returns do not predict future returns.
Binance's launchpad is worth noting. New projects listed on Binance Launchpad often see strong early price gains, giving early users good chances. Bybit's launchpad is growing but does not match Binance's track record or deal flow.
Binance Earn also has more yield products (flexible savings, locked staking, dual investment, liquidity farming) with higher TVL and more assets than Bybit's earn suite.
Security & regulation
Binance settled with US authorities for $4.3 billion in 2023. It now runs under stricter rules, including an independent compliance monitor. Binance FZE holds a Dubai VARA licence that covers VA derivatives trading. Nest Exchange Limited, its ADGM entity, is regulated by the ADGM FSRA in Abu Dhabi.
Binance publishes monthly Proof of Reserves via Merkle tree audits. Bybit holds a UAE Securities and Commodities Authority Virtual Asset Platform Operator licence, announced on October 9, 2025. It has grown its compliance team but has faced fewer major legal actions.
Both maintain insurance funds to cover losses in extreme swings, though neither publishes a verified fund balance. In May 2019, hackers took about 7,000 BTC from a Binance hot wallet; the SAFU fund covered the loss in full.
In February 2025, hackers took more than $1.4 billion in ETH and stETH from a Bybit cold wallet. Binance's BNB Chain bridge was also exploited for $570 million in 2022, a protocol issue rather than an exchange hack.
Mobile, API & trading tools
Both have full mobile apps with TradingView charts, advanced order types (limit, market, stop-limit, trailing stop, TP/SL), and portfolio tracking. API docs are solid on both, with REST and WebSocket endpoints. Binance's API has more third-party support — most trading bots, portfolio trackers, and tax tools add it first.
Bybit's API is known for low latency and steady uptime, making it popular with bot traders who need sub-100ms response times.
Both support limit, market, stop-limit, stop-market, trailing stop, TP/SL combos, reduce-only, post-only, and conditional triggers. Binance adds TWAP to split large orders into smaller slices over time. Bybit's conditional order system supports layered trigger rules based on mark price or last price.
Its TP/SL feature lets you set multiple take-profit levels for staged exits. Both support iceberg orders for hiding large order sizes from the visible book.
Copy trading on Bybit and Binance
Bybit treats copy trading as a core product. Its dashboards show ROI, drawdown and win rate for each master trader. Followers set per-trader caps and stop-losses, and choose proportional or fixed-ratio copying.
Binance also runs copy trading for futures. A copied trade carries the same liquidation risk as your own trade. For more on copy trading, see our Bybit vs Bitget comparison.
If low base fees are your top goal, Binance has the edge: its taker fee is 0.5 bps lower, and the BNB payment cuts it by 10%. If you want faster altcoin listings or copy trading, Bybit has real advantages. For execution cost at size, use the measured BTC cost ranking.
Which Should You Choose?
Choose Binance if you...
- Want the lowest taker fees with BNB discount (effective 0.045%)
- Pay futures fees in BNB for a 10% discount
- Value a broad ecosystem: options, P2P, launchpad, earn products
- Prefer an exchange with a Dubai VARA licence and ADGM recognition
- Need P2P fiat access in many countries
Choose Bybit if you...
- Want a larger headline welcome bonus (up to $30,000, against up to $19,800 on Binance)
- Prefer mature copy trading with thousands of verified master traders
- Chase early listings on meme coins and newly launched tokens
- Want Web3 wallet integration with DEX aggregation built in
- Value a cleaner, more focused trading interface
Binance vs Bybit FAQ
Is Binance better than Bybit for futures trading?
Binance has a slight edge on base fees (0.05% vs 0.055% taker).
On a $100,000 taker trade, Binance saves $5, and with the BNB discount applied, that gap widens to $10. Both exchanges cap BTC leverage at 150x. The measured BTC cost ranking compares the full cost of market orders on both books.
However, Bybit offers a larger headline welcome bonus (up to $30,000 vs up to $19,800) and a more mature copy trading platform. Use our fee calculator to model your exact savings at your volume level. The better pick depends on your size, your region and the products you use.
Which has lower fees, Binance or Bybit?
Binance charges 0.05% taker versus Bybit's 0.055%, saving $5 per $100,000 in taker volume.
Binance also offers a 10% fee discount when paying with BNB, bringing the effective taker fee to 0.045% — saving $10 per $100,000 compared to Bybit. Maker fees are identical at 0.02% on both platforms. Over $1 million in monthly taker volume, Binance saves $50-$100 depending on BNB usage.
At VIP tiers, both platforms reduce fees further, but Binance maintains its edge at most levels. Run the numbers for your specific volume using our fee calculator or see the full breakdown in our cost comparison tool.
Which is safer, Binance or Bybit?
Binance suffered a hot-wallet hack in May 2019, losing about 7,000 BTC.
Its SAFU fund covered the loss in full. Bybit suffered a cold-wallet hack in February 2025, losing more than $1.4 billion in ETH and stETH. Binance holds a Dubai VARA licence and ADGM FSRA recognition.
It paid a $4.3B settlement with US authorities in 2023, which resolved major legal uncertainty and introduced an independent compliance monitor. Bybit holds a UAE SCA Virtual Asset Platform Operator licence, announced in October 2025. Neither exchange publishes a verified insurance fund balance.
Binance publishes Merkle tree Proof of Reserves monthly, while Bybit provides similar reserve attestations.
Which is better for beginners, Binance or Bybit?
Bybit is generally considered more beginner-friendly due to its cleaner interface and excellent copy trading feature, which lets newcomers follow experienced traders instead of learning complex technical analysis from day one.
Bybit's welcome bonus (up to $30,000) is tiered, and most tiers need deposit and volume targets. A bonus does not reduce trading risk.
Binance offers a broader ecosystem with more educational content, a larger trading community, and demo/testnet trading for practice — but the sheer number of products (options, P2P, launchpad, earn, NFTs) can feel overwhelming for new users.
If you are new to perpetual futures, start with Bybit's copy trading to learn by observing, then consider Binance once you are ready to trade independently.
Can I use Binance or Bybit in the US?
Neither Binance nor Bybit offers perpetual futures trading to US residents.
Binance operates a separate US entity (Binance.US) with limited spot trading only — no derivatives. Bybit geo-blocks US IP addresses and requires non-US KYC documentation. US-based traders can use regulated US platforms such as Kraken (see our Binance vs Kraken comparison and the US perpetual futures guide).
Many decentralized perp front ends also block US users in their terms. Hyperliquid is one example. Using a VPN to bypass geo-restrictions violates both exchanges' terms of service and risks account freezing and fund seizure.
Should I have accounts on both Binance and Bybit?
Some active traders keep accounts on both exchanges.
Each account adds a KYC record and a custody risk.
Two accounts let you claim welcome bonuses on both platforms (up to $19,800 on Binance plus up to $30,000 on Bybit — both tiered maximums), route orders to whichever has better liquidity or lower fees on a given pair, and access Binance's deep BTC/USDT order books alongside Bybit's copy trading and faster altcoin listings.
A common strategy is to use Binance for large-position execution on major pairs (where its order book depth minimizes slippage) and Bybit for copy trading, early altcoin exposure, and smaller speculative positions. Compare their fees side by side with our cost comparison tool to see which saves more at your volume level.
Verdict
Bybit lists new altcoins faster and treats copy trading as a core product. Its headline welcome bonus is larger (up to $30,000 vs up to $19,800), but a bonus is not a fee discount. High-volume futures traders pay less on Binance at the base tier. Compare measured execution cost for your size before you choose.