Binance vs Bybit: Complete Comparison 2025

Binance and Bybit are two of the most popular exchanges for crypto traders, particularly those interested in derivatives. Having used both extensively for spot and futures trading, I can tell you they each have distinct strengths. Here’s my comprehensive comparison.

Quick Summary

Feature	Binance	Bybit
Trading Fees	0.10%	0.10%
Cryptocurrencies	350+	280+
Founded	2017	2018
Best For	All-in-one platform	Derivatives trading
Rating	4.8/5	4.4/5
Max Leverage	125x	100x

Fees Comparison

Trading Fees

Both exchanges offer competitive spot trading fees:

Binance:

• Spot: 0.10% maker/taker (base tier)
• With BNB: 0.075% (25% discount)
• VIP tiers: Down to 0.02%

Bybit:

• Spot: 0.10% maker/taker (base tier)
• With VIP: Down to 0.02%
• No native token discount for spot

Futures Trading Fees

This is where things get interesting for derivatives traders:

Binance Futures:

• Maker: 0.02%
• Taker: 0.04%
• With BNB: Additional 10% discount

Bybit Perpetuals:

• Maker: 0.02%
• Taker: 0.055%
• VIP discounts available

Real-World Fee Calculations

For a $10,000 spot trade:

• Binance: $10.00 (or $7.50 with BNB)
• Bybit: $10.00

For a $100,000 futures position:

• Binance (taker): $40.00
• Bybit (taker): $55.00

Winner: Binance - Marginally better fees, especially with BNB token discounts.

Funding Rates

Both exchanges use similar funding rate mechanisms for perpetual contracts. Rates vary based on market conditions, but I haven’t noticed significant differences between them.

Security Comparison

Binance Security

• SAFU Fund: $1 billion+ insurance fund
• Cold Storage: 95% of assets offline
• 2FA Options: SMS, TOTP, hardware keys
• Track Record: One breach in 2019 ($40M, fully covered)
• Proof of Reserves: Published regularly

Bybit Security

• Cold Storage: 100% cold wallet system for user funds
• Insurance Fund: Dedicated fund for liquidations
• 2FA Options: SMS, TOTP, email
• Track Record: Never been hacked
• Proof of Reserves: Published regularly with Merkle tree verification

My Security Experience

Both exchanges have strong security, but Bybit’s 100% cold wallet claim is impressive. I’ve enabled all security features on both platforms:

• Hardware key 2FA
• Withdrawal address whitelisting
• Anti-phishing codes
• IP restrictions

Winner: Tie - Both have excellent security. Bybit has never been hacked, while Binance has the larger insurance fund.

Derivatives Trading

This is the main battleground between these two exchanges.

Binance Futures

• Perpetual Contracts: 200+ pairs
• Quarterly Futures: Available
• Options: Crypto options trading
• Max Leverage: 125x
• Cross/Isolated Margin: Both supported
• Interface: Powerful but complex

Bybit Derivatives

• Perpetual Contracts: 300+ pairs
• Inverse Perpetuals: Settle in crypto
• USDC Perpetuals: Separate liquidity pool
• Max Leverage: 100x
• Cross/Isolated Margin: Both supported
• Interface: Cleaner, more intuitive
• Testnet: Full practice environment

Derivatives Experience Comparison

I’ve traded derivatives on both platforms extensively. Here’s what I’ve found:

Binance Advantages:

• Higher leverage (125x vs 100x)
• More trading pairs
• Better liquidity on major pairs
• Options trading available

Bybit Advantages:

• Cleaner trading interface
• Better mobile app for derivatives
• Full testnet for practice
• Faster order execution (in my experience)
• More intuitive position management

Winner: Bybit for derivatives focus - While Binance has more pairs and leverage, Bybit’s interface and execution make it my preference for active futures trading.

Spot Trading

Binance Spot

• Trading Pairs: 1,200+
• Cryptocurrencies: 350+
• Order Types: Market, limit, stop-limit, OCO, trailing stop
• Advanced Features: Grid trading, TWAP orders

Bybit Spot

• Trading Pairs: 400+
• Cryptocurrencies: 280+
• Order Types: Market, limit, conditional
• Advanced Features: Spot trading bots

Winner: Binance - Significantly more coins and trading pairs available.

Copy Trading

Both platforms offer copy trading, but with different approaches:

Binance Copy Trading

• Follow top traders automatically
• Filter by performance metrics
• Set maximum investment per copy
• Available for spot and futures

Bybit Copy Trading

• More established copy trading system
• Detailed trader statistics
• Lower minimum investment
• Better filtering options
• Pro trader verification system

My Copy Trading Results:

• Bybit: $2,000 allocated, +18% over 6 months
• Binance: $1,500 allocated, +12% over 6 months

Winner: Bybit - Better copy trading interface and trader selection tools.

User Experience

Binance Interface

• Desktop: Feature-rich but overwhelming
• Mobile App: Excellent (4.5+ stars)
• Learning Curve: Steep
• Customization: Highly customizable

Bybit Interface

• Desktop: Clean, intuitive design
• Mobile App: Outstanding for derivatives (4.6 stars)
• Learning Curve: Moderate
• Customization: Good options

Winner: Bybit - Cleaner interface, especially for derivatives trading. Binance has more features but can be overwhelming.

Additional Features

Binance Ecosystem

• Binance Earn (staking, savings, farming)
• Binance NFT Marketplace
• Binance Pay
• Binance Card
• Launchpad/Launchpool
• Web3 Wallet
• Mining Pool

Bybit Ecosystem

• Bybit Earn (staking, savings)
• Bybit NFT Marketplace
• Trading bots
• Copy trading
• ByStarter (launchpad)
• Web3 Wallet

Winner: Binance - Much larger ecosystem with more earning and utility options.

Geographic Availability

Binance Availability

• Available in 180+ countries
• US users must use Binance.US (limited)
• Some European restrictions
• KYC required for full features

Bybit Availability

• Available in 160+ countries
• Not available in US
• Most of Europe accessible
• Tiered KYC system

Winner: Binance - Binance.US provides some access for US users, while Bybit is completely unavailable.

Customer Support

Binance Support

• 24/7 live chat
• Email support
• Help center
• Response time: 24-48 hours typical

Bybit Support

• 24/7 live chat
• Email support
• Help center
• Response time: 4-24 hours typical

Winner: Bybit - Generally faster response times in my experience.

API and Automated Trading

Binance API

• REST and WebSocket APIs
• Extensive documentation
• High rate limits for VIP users
• Supports all trading features
• Most third-party tools support Binance

Bybit API

• REST and WebSocket APIs
• Good documentation
• Reasonable rate limits
• Full trading support
• Growing third-party support

Winner: Tie - Both have comprehensive APIs. Binance has more third-party integrations.

Earning Products

Binance Earn

• Flexible Savings: 1-8% APY
• Locked Staking: Up to 20%+ APY
• Launchpool: Farm new tokens
• Dual Investment: Advanced strategies
• Auto-Invest: DCA automation

Bybit Earn

• Flexible Savings: 1-5% APY
• Fixed Staking: Up to 15% APY
• Launchpool: Available
• Liquidity Mining: DeFi integration

Winner: Binance - More products and generally higher rates.

My Personal Trading Setup

Here’s how I use both exchanges:

Binance (60% of trading):

• Long-term spot holdings
• Staking and earning products
• DCA automation
• Altcoin trading

Bybit (40% of trading):

• Derivatives trading (preferred interface)
• Copy trading
• Quick position entries/exits
• Testnet practice for new strategies

Trading Results Comparison

Over the past year:

• Binance spot trading: +45% portfolio return
• Bybit derivatives: +62% (higher risk, leverage used)
• Combined Bybit copy trading: +18%

Risk Considerations

Binance Risks

• Regulatory uncertainty in some regions
• Complex interface may lead to mistakes
• High leverage can lead to significant losses

Bybit Risks

• Not available in US
• Less regulatory clarity
• Derivatives trading is inherently risky

Who Should Choose Which?

Choose Binance If:

• You want an all-in-one platform - Everything in one place
• You’re building a portfolio - Better spot selection
• You want earning products - Extensive options
• You need US access - Binance.US available
• You want the lowest fees - With BNB discounts

Choose Bybit If:

• You focus on derivatives - Superior trading interface
• You like copy trading - Better system
• You want a cleaner UX - Less overwhelming
• You’re learning futures - Excellent testnet
• You trade on mobile - Better derivatives app

Final Verdict

Overall Winner: Binance - The more complete platform with better spot selection and ecosystem.

For Derivatives: Bybit - Superior interface and trading experience for perpetuals.

Both are excellent exchanges. Binance is the better choice for spot trading and building a portfolio, while Bybit excels in derivatives trading. Many serious traders, myself included, maintain accounts on both.

The differences in fees are minimal between these two - your choice should be based on whether you prioritize derivatives trading (Bybit) or spot trading and ecosystem features (Binance).

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Frequently Asked Questions

Is Binance or Bybit better for futures trading?

Bybit has a superior derivatives trading interface and experience, though Binance offers higher leverage (125x vs 100x) and more trading pairs.

Which has lower fees, Binance or Bybit?

They have nearly identical spot fees (0.10%), but Binance has slightly lower futures fees and offers BNB token discounts.

Is Bybit available in the US?

No, Bybit is not available to US residents. Binance offers Binance.US as an alternative, though with limited features.

Which is safer, Binance or Bybit?

Both have strong security. Bybit has never been hacked, while Binance has the larger insurance fund. Both publish proof of reserves.

Which has more cryptocurrencies?

Binance offers 350+ cryptocurrencies compared to Bybit’s 280+. Binance also lists new tokens earlier.

Can I use both exchanges?

Yes, many traders use both. Binance for spot and ecosystem, Bybit for derivatives. This is my personal approach.

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Last updated: January 2025. I actively trade on both Binance and Bybit for different purposes. This comparison reflects genuine experience. Affiliate links may provide compensation at no extra cost to you.