Binancevs
MEXC
Compare Binance vs MEXC perpetuals: funding rates, fees, open interest, trading volume, liquidity, liquidation data and regulatory compliance updated in real-time.
Coinperps score
Four weighted criteria, scored out of 10 by Coinperps Research. How we score ›
Binance9.4/10MEXC7/10Market position
Each venue's share of the perpetual venues Coinperps tracks, live over the last 24 hours.
The same market on each venue
One perpetual, both books: where the liquidity and the crowd actually are right now.
BinanceBTC/USDTMEXCWinner marked per row. Funding is an 8-hour equivalent; the lower rate is cheaper for longs. Depth: order-book liquidity within 1% of mid.
BTC funding over 90 days
Daily funding on each venue's BTC perpetual against the cross-venue median, every venue normalised to an 8-hour equivalent. Persistent gaps are what a carry trade or a long hold actually pays.
Binance vs MEXC: head-to-head
Fees, leverage and regulation from each venue's published terms; volume, open interest and funding live from the Coinperps feed. The better figure is marked where one exists.
| Dimension | Binance | MEXC |
|---|---|---|
| Fees & costs | ||
| Taker fee | 0.05% | 0.02% |
| Maker fee | 0.02% | 0% |
| Volume & liquidity | ||
| Perpetuals volume (24h) | -- | -- |
| Open interest | -- | -- |
| Options volume (24h) | -- | -- |
| Liquidations (24h) | -- | -- |
| Perpetual contracts listed | -- | -- |
| Live funding rates | ||
| BTC funding rate | -- | -- |
| ETH funding rate | -- | -- |
| SOL funding rate | -- | -- |
| XRP funding rate | -- | -- |
| All funding on this page is shown as an 8-hour equivalent. Venues that settle hourly (Hyperliquid, Kraken, Coinbase, dYdX) are scaled by the interval the feed reports, so the figures compare like for like. | ||
| Trading features | ||
| Contract types | USDT and USDC | USDT only |
| Maximum leverage | 125x | 200x |
| Spot assets | 400 | 2900 |
| Platform type | Centralized | Centralized |
| Regulation & trust | ||
| Regulation | FinCEN (USA), FINMA (Switzerland), FCA (UK), ADGM (Abu Dhabi), AMF (France), and 17 more | Unlicensed (Previous Licenses revoked in Seychelles & Estonia) |
| Proof of reserves | ✓ Yes | ✓ Yes |
| Supported countries | 160 | 170 |
| Users | 265 Million | 30 Million |
| Headquarters | Dubai, United Arab Emirates | Seychelles |
About Binance
Binance is the largest cryptocurrency exchange by trading volume, founded in 2017 and home to the deepest perpetual futures liquidity in the market, from BTCUSDT down to long-tail altcoin pairs.
Headquartered in Dubai and led by CEO Richard Teng, it serves more than 260 million users across 180+ countries, offering perpetuals at up to 125x leverage alongside 350+ spot assets, options, and margin trading.
Binance is licensed in major hubs including the UAE, Japan, and Australia, backs users with a $1 billion SAFU insurance fund held in Bitcoin, and publishes Proof of Reserves so anyone can verify assets are backed at a minimum 1:1 ratio. EU access is restricted while it pursues MiCA authorization.
About MEXC
MEXC is the highest-leverage major perpetuals venue, founded in 2018 and now serving more than 40 million users across 170+ countries from its Seychelles base. Its catalog of 3,000+ listed tokens is among the largest in the industry.
The futures platform runs 700+ perpetual pairs at up to 500x leverage with the lowest standard fee schedule of any major exchange, charging nothing on maker orders and 0.02% on takers before MX token discounts.
Its regulatory posture is the trade-off. MEXC holds no license from a major financial regulator and has drawn warnings from authorities including Germany's BaFin, the UK's FCA, and Hong Kong's SFC, so users trade without the consumer protections regulated venues carry.
Security rests on verifiable reserves rather than oversight. Monthly Hacken-audited Proof of Reserves shows major assets backed well above 100%, a $100 million Guardian Fund with public wallet addresses backstops users, and no exchange-level hack has been confirmed since founding.
Binance vs MEXC: Overall Futures Market Coverage
- Daily perp volume: Binance typically over $67B vs MEXC typically around $20B
- Contracts listed: Binance 270+ vs MEXC ~260
- Liquidity: Binance deeper books on majors; MEXC broader long-tail but thinner on mid and small caps
Binance runs higher 24h perp volume and larger open interest, which generally supports tighter spreads on BTC and ETH. MEXC carries many alt perps, useful for niche rotations, but depth can vary outside the top pairs. If any live metric is missing on the pages, check the exchange page for the latest detail.
Fees, Discounts, and VIP Tiers Compared
- Baseline fees: Binance 0.02% maker / 0.05% taker vs MEXC 0.00% maker / 0.02% taker
- Binance edge: BNB pay-with-token discount; VIP 9 example shows 0.00% maker and 0.017% taker with large volume and BNB holdings
- MEXC edge: MX token deductions with 50% base cut plus extra 20% when using MX to offset USDT-margined futures fees
- Takeaway: Lower sticker fees on MEXC; Binance can undercut at scale through VIP and BNB discounts
For small tickets, MEXC’s headline fees are hard to beat. High-volume traders on Binance can achieve aggressive rates through the VIP ladder and BNB discounts. If only one side shows a concrete VIP example, rely on that and verify the other on its fee page.
Leverage, Position Limits, and Advanced Features
- Max leverage: Binance up to 125x vs MEXC up to 200x on BTC/ETH
- Risk tiers: Both exchanges use tiered margin that scales with notional size
- Extra products: Binance offers USDT and USDC-margined perps and listed options; MEXC lists USDT-margined perps
MEXC advertises higher headline leverage, but position size tiers will reduce effective leverage as exposure grows. Binance adds USDC perps and options for broader hedging. Check the exchange page for the latest tier tables.
Regulation, Geographic Access, and Licenses
- Binance footprint: Multiple registrations and licenses across EU, Middle East, APAC and more
- MEXC footprint: Operates without major licenses; has been flagged by several regulators
- Availability: Binance indicates service in ~160 countries; MEXC references access in ~170 countries
Binance publishes an extensive list of registrations and licenses and states broad availability. MEXC highlights access but notes warnings from authorities and lack of formal licensing. Always verify eligibility and product scope in your country before onboarding.
Security, Transparency, and Proof-of-Reserves
- Binance: Public proof-of-reserves with Merkle verification; large cold storage footprint
- MEXC: Publishes proof-of-reserves disclosures and maintains an insurance fund
- User takeaway: PoR shows assets held at a point in time; it does not prove full liabilities
Both Binance and MEXC publish reserve attestations and describe wallet segregation. Treat PoR as one signal among many and keep prudent balances, 2FA, withdrawal allowlists, and external cold storage for long-term holdings.
Final Takeaway
Pick Binance when you prioritize depth on majors, USDC-margined perps, and an extensive licensing footprint; pick MEXC when you want headline-low fees, very high stated leverage, and a wide selection of alt perps. Check each page for live volumes, OI, and any changes to fees, leverage tiers, or availability.
