Bybit vs Binance

Bybit vs Binance

Dylan Matthews
Fact Checked
Jan 13, 2023

Summary: Bybit is the better overall crypto exchange compared to Binance because they offer lower fees, more leverage on futures trading and require no KYC to sign up.

Binance currently charges significantly more expensive fees at 0.1% per trade compared to Bybit who offer a rebate of 0.025% for trades. This means you get paid out for Maker Orders on their platform.

Table of Contents

Platform Highlights

Bybit Platform Highlights

  • Trade over 700 Cryptos with up to 100x leverage on Bybit.
  • The Bybit Spot and Futures trading fees are lower than Binance starting at 0.01%.
  • No KYC or Identity Verification required to sign up on Bybit.

Bybit and Binance Comparison

When it comes to Crypto futures trading, Bybit and Binance are two of the leading platforms in the world. In this comparison, we take a look at both trading platforms to determine which is the best based on fees, leverage, liquidity, available markets, security and more.

Binance vs Bybit Bybit vs Phemex
Trading Fees 0.1% Maker | 0.1% Taker -0.025% Maker | 0.075% Taker
Platform Features 20x Leverage, Futures, Spot Markets, Crypto Staking, NFT Marketplace 50x Leverage, Futures, Spot Markets, Staking, IDO Launchpads
Available Cryptos 300+ 200+
Year Founded 2016 2017
Available for USA Yes No
Deposit Methods Cryptocurrency, Bank Transfer, Debit or Credit Card, PayPal and more Cryptocurrency, Debit or Credit Card, Bank Transfer, Bank Wire and more
Overall Rating Image Image
Visit Website Binance Futures Bybit

Trading Fees

When it comes to fees, Bybit is the clear winner. It charges a 0.075% taker fee and a 0.025% maker fee, while Binance charges a 0.1% taker fee and a 0.075% maker fee. In addition, Bybit offers a 0.025% rebate for makers and a 0.05% rebate for takers.

The fee rebate means that traders can earn money for setting Limit Orders and having their order filled. For example, if your limit order of $10,000 is filled, you earn 0.025% of the total size which is $25.

Binance Futures vs Bybit
Binance Futures user interface

Leverage Trading

Binance currently offers up to 25x leverage for futures contracts. They used to offer 125x however had to pull it back due to regulatory issues. This has made Binance a safer platform overall however.

Bybit is one of the only exchanges that still offers up to 50x leverage to trade crypto futures on their platform. This gives their platform a bit of extra utility above Binance if you're a small player looking to lever-up.

Bybit vs Binance: Margin Requirements

For Bybit, the initial margin is 10%, while the maintenance margin is 5%.

For Binance, the initial margin is 20%, while the maintenance margin is 10%.

Bybit vs Binance: Futures Trading

When it comes to trading futures contracts, Bybit and Binance are both excellent options. However, there are a few key differences.

First, Binance offers a much wider range of cryptocurrencies to trade and far deeper liquidity. This means that you can get better execution on more coins, and reduce the impact of slippage from your trading.

Bybit on the other hand offers cheaper futures trading fees with a 0.025% rebate for makers and a 0.075% fee for takers, while Binance does not offer any rebates and charges 0.1%.

Bybit Futures user interface vs Binance
Bybit Futures user interface

Crypto Staking Options

Bybit and Binance both have extensive cryptocurrency staking options for their users. They offer a relatively similar group of cryptocurrencies to stake that includes Bitcoin, Ethereum, Stablecoins, Layer 1's like AVAX and Solana and other PoS tokens.

Bybit does seem to pay out slightly higher interest in their awards, which could indicate that Binance takes a larger fee from stakers.

NFT Marketplaces

Binance and Bybit both offer NFT Marketplaces that allow their users to trade stablecoins, Bitcoin and ETH for non-fungible tokens. Both platforms have relatively limited diversity of NFT's because the large bulk get minted on popular NFT marketplaces like OpenSea or Rarible.

With that said - there is still a vibrant community around the Bybit and Binance NFT scene and is worth further investigation if you're interested in NFT Markets.

Final Thoughts

When it comes to trading fees, leverage, liquidity and available markets - Bybit takes the lead. Plus, they offer a 0.025% rebate for makers and a 0.075% fee for takers which could save you money in the long run if you’re an active trader. However, Binance does have its advantages in terms of wider range of cryptocurrencies, deeper liquidity and offering a safer overall trading environment.

In the end, it all comes down to your own personal preference as both exchanges are reliable and offer quality trading options. Whichever one you decide to go with, be sure to research as much as possible before getting started.

For more information on each platform, read our Bybit Review and Binance Review.

Bybit vs Binance

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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