Binance vs Bybit

Binance vs Bybit: which to use

Binance vs Bybit is a choice between two centralized exchanges with the same core design and different fee and market details. Both require KYC and hold your funds in an account. Both offer up to 150x. Binance charges 2 bp maker and 5 bp taker, and Bybit charges 2 bp maker and 5.5 bp taker. Bybit lists 857 perp markets and Binance lists 783. Binance has a 0.04% taker rate on its stock and commodity perps. For most traders, the taker fee and the market list decide it.

How each exchange is built

Binance is a centralized exchange (CEX): you open an account with the company, and the account holds your funds. It matches orders on a central limit order book. Bybit is built the same way: a CEX account that holds your funds, with matching on a central limit order book. For the trader, both are an account at a company and a public book, so the differences below come from fees, markets and rules.

Fees and what they mean

Binance's base tier is 2 bp maker and 5 bp taker, per Binance's fee page. Bybit's base tier is 2 bp maker and 5.5 bp taker, per Bybit's fee page. A bp is 0.01% of the position. The maker rate is the same on both.

Binance's stock and commodity perps (TradFi perps) charge regular users 0 maker and 0.04% taker, "until further notice" as of 29 September 2026. Binance's crypto perps keep the 2 bp and 5 bp rates above.

A market order pays the taker fee to open and again to close. That is 10 bp per round trip on Binance's crypto perps and 11 bp on Bybit. A limit order that rests on the book pays the maker fee, 2 bp on both. Fees are only part of the cost. Slippage is the price you move by eating through the order book, and it grows with size. The cost table above adds both at each size from $1k to $5M, and every exchange's trading cost sits on one page.

Markets and leverage

As of 1 October 2026 Binance lists 783 active perps, 213 of them stocks, commodities, FX or other real-world assets. Bybit lists 857, 237 of them real-world assets. Bybit has 74 more markets in total and 24 more real-world asset markets.

Both offer up to 150x on their highest-leverage markets, and most markets allow less. A Binance futures account under 30 days old is capped at 20x. Both pay funding every 1 hour, 4 hours or 8 hours depending on the market. Funding is the periodic payment between longs and shorts, and a positive rate means longs pay shorts. An hourly market settles 24 times a day and an 8-hour market three times, so check a market's interval before you hold a position. The list further down this page shows the markets both exchanges have and each one's funding rate.

Who can use them

Both require KYC. Binance requires verified KYC to deposit or trade. Bybit makes standard verification mandatory for every product. Neither works without an ID check.

Tokens

Binance's token is $BNB.

Reading the numbers on this page

Open interest is the value of open positions, and the two exchanges count it differently. Binance publishes one side of open positions. Bybit publishes longs plus shorts, both sides of every position, about twice a one-side count. For the same positions Bybit's figure reads about twice as large, so the open interest row and chart above are not a like-for-like comparison of size.

Neither exchange has a TVL row or chart, because centralized exchanges publish none. For funding you can hold both sides at once, funding arbitrage between exchange pairs ranks the spreads and the Net 7d figure after round-trip costs.

Which one fits you

• Pick Binance if you trade crypto perps with market orders: 5 bp taker against 5.5 bp.
• Pick Binance if you want stocks and commodities on the same exchange as your crypto, at 0 maker and 0.04% taker for regular users.
• Pick Binance if you want to hold the $BNB token.
• Pick Bybit if you want the longer market list: 857 perps against 783, with 237 real-world assets against 213.
• Pick Bybit if you mostly rest limit orders: the 2 bp maker rate matches Binance, so the choice then rests on which markets you need.