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.
- Trade over 700 Cryptos with up to 100x leverage.
- Lower trading fees than Binance starting at 0.1%.
- No KYC or verification required to sign up on Bybit.
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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.
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.
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%.
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.
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.
Bybit vs Binance: Final Verdict
So, which platform is better when comparing Bybit vs Binance? Ultimately, the decision comes down to personal preference. Both platforms are equally excellent choices for futures trading.
However, if you're looking for the best fees and most leverage, Bybit is the clear winner. For more information on their platform, read our Bybit Review.