BingXvs
MEXC
Compare BingX 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 ›
BingX7.25/10MEXC7/10Market 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.
BingXBTC/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.
BingX 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 | BingX | 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 | 1000 | 2900 |
| Platform type | Centralized | Centralized |
| Regulation & trust | ||
| Regulation | Only regulated by FSIC (Lithuania) | Unlicensed (Previous Licenses revoked in Seychelles & Estonia) |
| Proof of reserves | ✓ Yes | ✓ Yes |
| Supported countries | 150 | 170 |
| Users | 20 Million | 30 Million |
| Headquarters | Singapore | Seychelles |
About BingX
BingX is a copy-trading-first perpetuals exchange founded in 2018 by Josh Lu, serving more than 10 million users across 160+ countries with one of the widest traditional-asset derivatives lineups of any mid-tier venue.
Its futures platform spans USDT and USDC-margined crypto perpetuals at up to 125x leverage plus 50+ TradFi contracts covering gold, oil, forex, US stocks, and indices, reaching 500x on select forex pairs.
Regulation runs through AUSTRAC registration in Australia and Lithuania's FCIS, while BingX EU has applied for MiCA authorization through Austria's FMA, so EEA access remains unauthorized pending that decision.
Security carries one scar handled cleanly. A September 2024 hot wallet breach cost between $43 million and $52 million, users were fully compensated from reserves within days, and the exchange publishes Proof of Reserves alongside an expanded Shield Fund since.
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.
BingX vs MEXC: Perpetual Futures Compared
Two offshore exchanges, both founded in 2018, both lightly regulated, both competing for traders who care more about low fees and broad access than regulatory protections. MEXC is built around the cheapest futures fees in the industry and the widest token catalog going. BingX is built around copy trading and a more curated derivatives experience with TradFi exposure bolted on.
In short: MEXC is the cheapest place to trade perps. BingX is the better platform if social trading and traditional market exposure matter to you. Both carry elevated counterparty risk compared to tier-1 venues.
Fees
MEXC's fee structure is the most aggressive going: 0% maker and 0.01% taker on futures. BingX charges 0.02% maker and 0.05% taker. Roughly 5x more expensive on taker fills. For high-frequency strategies where execution cost eats into edge, that gap compounds fast.
Funding rates add another cost layer and diverge between platforms on the same pair in the same session. Our funding rates tracker compares both in real time.
Asset Coverage and Liquidity
MEXC lists 2,900+ spot assets, posts roughly 4x BingX's perp volume, and holds double the open interest. If a token is trending, MEXC usually has the perp first. BingX supports around 1,000 spot tokens with a smaller perp catalog that covers majors and mid-caps well but falls behind on long-tail assets.
On BTC and ETH, MEXC's books are deeper with tighter spreads. BingX's liquidity is fine for retail-sized positions but thins on lower-cap perps. Both carry thinner books than Binance, Bybit, or OKX. Compare depth on our perpetual exchanges overview.
Copy Trading
BingX's clear differentiator. 400,000+ elite traders, 1.3 billion cumulative copy orders, AI-powered analytics added in 2026. Copiers filter by ROI, win rate, max drawdown, and P&L curves, then mirror positions on isolated sub-accounts. BingX also extends copy trading into its TradFi markets, which MEXC does not.
MEXC offers copy trading but it is basic by comparison. If social trading is core to how you engage with perps, BingX is well ahead.
TradFi Exposure
BingX offers TradFi perpetual futures covering 50+ assets including gold, oil, forex, US stocks (TSLA, NVDA), and indices (S&P 500, NASDAQ 100), with leverage up to 500x on select forex perps. MEXC does not offer a comparable suite. If you want stocks, commodities, or forex alongside crypto perps, BingX is the only option between the two.
Leverage
- MEXC: up to 200x on select crypto pairs
- BingX: up to 125x on crypto perps, up to 500x on forex TradFi perps
MEXC's 200x is the highest among major centralized exchanges. In practice, a 0.5% adverse move at that leverage liquidates the position. Track where pressure builds on our BTC and SOL liquidation heatmaps.
Security
Both have baggage. BingX suffered a $44-52M hot wallet breach in September 2024 across multiple chains, covered losses from reserves, and resumed withdrawals within 24 hours. MEXC has not disclosed a breach but has drawn persistent complaints about frozen funds and abrupt token delistings. Neither has the crisis-tested track record of a top-tier exchange.
Regulation
Neither is well regulated. This is the most important caveat.
- BingX holds FSIC (Lithuania), FinCEN MSB, and AUSTRAC registrations. Restricts derivatives in 21 jurisdictions. See our BingX restricted countries breakdown.
- MEXC is effectively unlicensed. Estonian license revoked November 2023. Warnings from Hong Kong's SFC, Germany's BaFin, Japan's FSA, and Canada's BCSC.
BingX holds a slight edge, but neither offers the protections of a VARA, CySEC, or MAS-licensed exchange. Traders who need that should look at our full exchange comparison.
The Bottom Line
Choose MEXC if rock-bottom fees and the widest altcoin perp catalog are your priority, and you accept the risk of an effectively unregulated exchange.
Choose BingX if copy trading is central to your strategy, you want TradFi perp exposure alongside crypto, and you prefer an exchange with at least some regulatory footing.
