OKX vs Bybit

OKX or Bybit: which to use

OKX vs Bybit is two centralized exchanges with the same base maker fee, 2 bp, and different taker fees: 5 bp on OKX, 5.5 bp on Bybit. Bybit lists 857 perp markets against 480 on OKX, allows up to 150x against 100x, and pays funding as often as every hour. OKX publishes open interest as one side of positions, Bybit as both sides. Pick OKX for the lower taker fee and a funding schedule of 4 or 8 hours. Pick Bybit for more markets, higher maximum leverage and hourly funding.

How each exchange is built

OKX is a centralized exchange (CEX): you open an account with the company, and the account holds your funds. Bybit works the same way. Both match orders on a central limit order book. For the trader this means an account and a verification process on both, not a self-custody wallet.

Fees and what they mean

OKX's base tier is 2 bp maker and 5 bp taker, per OKX's fee source. Bybit's base tier is 2 bp maker and 5.5 bp taker, per Bybit's fee page. One basis point (bp) is 0.01% of the position.

A market order pays the taker fee to open and again to close. That is 10 bp per round trip on OKX and 11 bp on Bybit. A limit order that rests on the book pays the maker fee instead, 2 bp on both exchanges, so the gap only shows up when you take liquidity.

The fee is only part of a trade's cost. Slippage, the price you move by eating through the order book, grows with size. The cost table above adds the taker fee twice and the measured slippage at each size from $1k to $5M. Every exchange's trading cost is also compared on one page.

Markets and leverage

As of 1 October 2026 Bybit lists 857 active perp markets, 237 of them stocks, commodities, FX or other real-world assets. OKX lists 480, with 191 in those categories. If you want a long tail of listings, the count favors Bybit. Both list perps on real-world assets.

OKX offers up to 100x on its highest-leverage market and Bybit up to 150x. Most markets on both allow less, so check the limit of the market you trade.

Funding is the periodic payment between longs and shorts, and a positive rate means longs pay shorts. OKX pays funding every 4 hours or 8 hours depending on the market. Bybit pays every 1 hour, 4 hours or 8 hours. An hourly market settles 24 times a day and an 8-hour market three times. A position held through an hourly market therefore tracks the rate more closely, and an 8-hour market pays or charges in larger, less frequent steps. The list further down this page shows the markets both exchanges have and each one's funding rate. The funding arbitrage ranking ranks pairs of exchanges by spread.

Access and token

Both exchanges require KYC. OKX requires advanced verification before you trade, deposit or withdraw. Bybit makes standard verification mandatory for every product. In both cases you cannot use the exchange before your identity is verified.

OKX's token is $OKB.

Reading the numbers on this page

OKX publishes open interest as 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 do not compare size like for like.

Neither exchange has a TVL row or chart on the page, since centralized exchanges publish none. The volume and open interest charts above are the size comparison to use, with the open interest caveat in mind.

Which one fits you

• Pick OKX if you trade mostly with market orders: its 5 bp taker fee is 0.5 bp below Bybit's 5.5 bp, which is 1 bp on a round trip.
• Pick OKX if you prefer funding paid every 4 hours or 8 hours, with no hourly markets.
• Pick OKX if you want to hold the exchange's own token, $OKB.
• Pick Bybit if you want a larger menu: 857 markets against 480 as of 1 October 2026.
• Pick Bybit if you need more than 100x, up to 150x on its highest-leverage market.
• Pick Bybit if you want hourly funding on some markets, or you rest limit orders and pay the same 2 bp maker fee as on OKX.