Bybitvs
Kraken
Compare Bybit vs Kraken 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 ›
Bybit9.4/10Kraken8.2/10Market 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.
BybitBTC/USDTKrakenWinner 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.
Bybit vs Kraken: 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 | Bybit | Kraken |
|---|---|---|
| Fees & costs | ||
| Taker fee | 0.055% | 0.05% |
| Maker fee | 0.02% | 0.02% |
| 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 & USDC Settled | USDC and USDT |
| Maximum leverage | 125x | 50x |
| Spot assets | 1800 | 369 |
| Platform type | Centralized | Centralized |
| Regulation & trust | ||
| Regulation | CySEC (Cyprus), VARA (Dubai), FSA (Kazakhstan), and VASP (Georgia) | Tier-1 Regulators including FCA (UK), BaFin (Germany), CySEC (Cyprus), DASP (France), MSB (USA & Canada), AUSTRAC (Australia), and 8 more |
| Proof of reserves | ✓ Yes | ✓ Yes |
| Supported countries | 160+ | 150+ |
| Users | 67 Million | 15 Million |
| Headquarters | Dubai, United Arab Emirates | United Arab Emirates |
About Bybit
Bybit, founded in 2018 by Ben Zhou, is the second-largest crypto perpetuals exchange by liquidity and trading volume globally.
Headquartered in Dubai, it serves 60M+ users in 160 regions, providing spot trading, futures, crypto options, staking, and lending across 1,800+ assets.
Bybit holds licenses in UAE, Cyprus, and other tier-1 jurisdictions, secures assets via multi-signature cold storage, and regularly publishes verified Proof of Reserves audits.
About Kraken
Kraken is the most heavily regulated major perpetuals venue and one of the oldest exchanges in crypto, founded in 2011 and now operating under parent Payward at a $20 billion valuation following an $800 million raise and a confidential IPO filing.
Its derivatives platform runs perpetuals at up to 50x leverage with a structure rivals don't match, settling funding hourly rather than every 8 hours and accepting BTC, ETH, and other assets directly as multi-collateral margin.
Regulation is the moat. Kraken holds MiCA authorization through the Central Bank of Ireland, a MiFID derivatives license, and the only full CFTC stack held by a crypto-native firm, making it one of the few venues offering regulated perpetual futures to US traders.
Security rests on a record no major rival shares. The exchange has never suffered a major breach in its history, backs custody with audited Proof of Reserves and a Wyoming-chartered bank, and holds ISO 27001 and SOC 2 certifications.
