Bybit vs Deribit

Bybit or Deribit: which to use

Bybit vs Deribit is two centralized exchanges, so the choice rests on fees, markets and leverage rather than custody. Deribit has the lower base fees, 1.5 bp maker and 3.5 bp taker, and pays funding every hour on every market. Bybit has 857 perp markets against Deribit's 134, 237 of them real-world assets, and offers up to 150x against 50x. Both require KYC. Pick Deribit for lower fees and hourly funding. Pick Bybit for breadth of markets and higher leverage.

How each exchange is built

Bybit and Deribit are both centralized exchanges (CEX): you open an account with the company, and the account holds your funds. Both match orders on a central limit order book. The differences are in fees, markets and access.

Fees and what they mean

Bybit's base tier is 2 bp maker and 5.5 bp taker, per Bybit's fee page. Deribit's base tier is 1.5 bp maker and 3.5 bp taker, read from Deribit's API, which has no fee page to link.

A market order pays the taker fee to open and again to close. That is 11 bp per round trip on Bybit and 7 bp on Deribit. A limit order that rests on the book pays the maker fee instead: 2 bp on Bybit and 1.5 bp on Deribit.

Fees are only part of a trade's cost. Slippage, the price you move by eating through the order book, grows with size. The round trip in the cost table above adds slippage to the fee 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 Bybit lists 857 active perps, 237 of them stocks, commodities, FX or other real-world assets. Deribit lists 134, 34 of them real-world assets. If you want stocks and commodities next to crypto, Bybit has more of them by count.

Bybit allows up to 150x on its highest-leverage market and Deribit up to 50x. Most markets on both allow less, so check the limit on the market you trade.

Deribit pays funding every hour on every market. Bybit pays every 1 hour, 4 hours or 8 hours depending on the market. An hourly market settles 24 times a day and an 8-hour market three times. The list further down this page shows the markets both exchanges have and each one's funding rate.

Who can use them

Both exchanges require KYC. Bybit requires standard verification for every product. Deribit requires ID, proof of address and a financial profile before any deposit. Deribit is closed to the US, Canada, Japan and retail UK clients.

Reading the numbers on this page

Bybit publishes open interest as longs plus shorts, both sides of every position. Deribit publishes one side of open positions. 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 publishes TVL, as is usual for a centralized exchange, so the TVL row and chart show no figure for either. For the same reason, compare size through volume and open interest, with the caveat above. For funding history, see funding spreads across exchange pairs.

Which one fits you

• Pick Bybit if you want a wide market list: 857 perps against 134.
• Pick Bybit if you want stocks, commodities or FX perps on the same exchange as crypto: 237 real-world asset markets against 34.
• Pick Bybit if you need more than 50x, up to 150x on its highest-leverage market.
• Pick Deribit if you trade with market orders: 3.5 bp taker against 5.5 bp.
• Pick Deribit if you rest limit orders: 1.5 bp maker against 2 bp.
• Pick Deribit if you want funding on an hourly schedule on every market.