Bybitvs
MEXC
Compare Bybit 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 ›
Bybit9.4/10MEXC7/10Market 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.
BybitBTC/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.
Bybit 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 | Bybit | MEXC |
|---|---|---|
| Fees & costs | ||
| Taker fee | 0.055% | 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 & USDC Settled | USDT only |
| Maximum leverage | 125x | 200x |
| Spot assets | 1800 | 2900 |
| Platform type | Centralized | Centralized |
| Regulation & trust | ||
| Regulation | CySEC (Cyprus), VARA (Dubai), FSA (Kazakhstan), and VASP (Georgia) | Unlicensed (Previous Licenses revoked in Seychelles & Estonia) |
| Proof of reserves | ✓ Yes | ✓ Yes |
| Supported countries | 160+ | 170 |
| Users | 67 Million | 30 Million |
| Headquarters | Dubai, United Arab Emirates | Seychelles |
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 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.
Bybit vs MEXC: Perpetual Futures Compared
This comparison comes down to fees versus trust. MEXC offers the lowest futures fees of any major exchange: 0% maker and 0.01% taker. Bybit charges more (0.02% maker, 0.055% taker) but operates under real regulatory licenses, carries deeper liquidity on major pairs, and has handled a $1.5 billion hack transparently. The fee gap is real. Whether it justifies the regulatory risk depends on how much capital you are putting on the line.
In short: MEXC is the cheapest place to trade perps. Bybit is the safer, deeper, more established one. Most traders picking between these two already know which matters more to them.
Fees
MEXC's headline advantage and it is not close. Zero maker fees and 0.01% taker makes it the lowest-cost perpetual venue going. Bybit's 0.02%/0.055% is competitive against most exchanges but roughly 5x more expensive on taker fills.
For high-frequency strategies where execution cost directly eats into edge, that gap compounds fast. For traders placing a few positions a week, less so. Funding rates add another cost layer and diverge between exchanges on the same pair in the same session. Our funding rates tracker compares both in real time.
Asset Coverage
MEXC lists 2,900+ spot assets and a correspondingly large perp catalog, regularly listing new tokens faster than anyone else. If a meme coin or low-cap alt is gaining traction, MEXC usually has the perp before Bybit does.
Bybit supports 1,800+ spot tokens with a narrower but volume-heavy perp catalog. The difference matters for traders who want to short newly listed tokens or play momentum on micro-caps. For anyone focused on top-100 assets, Bybit's coverage is more than sufficient. Compare pair availability on our perpetual exchanges overview.
Liquidity and Depth
Bybit holds roughly 37% more open interest than MEXC despite MEXC posting higher total 24h volume (driven largely by zero-fee incentives inflating spot turnover). On BTC and ETH perps, Bybit's books are thicker with tighter spreads. Trading with size on majors, Bybit's execution is noticeably better.
MEXC's liquidity on lower-cap perps can be thin. Aggressive listing means some pairs carry wide spreads and shallow books. You can track where liquidation pressure clusters on our BTC and ETH liquidation heatmaps.
Leverage
- MEXC: up to 200x on select pairs
- Bybit: up to 125x on BTC/ETH perps
MEXC's 200x is the highest among major centralized exchanges. In practice, 200x means a 0.5% adverse move liquidates the position. Both platforms step leverage down through tiered margin as size increases. The headline gap is a marketing number, not a practical one.
Margin and Account Structure
Bybit runs a unified trading account consolidating spot, margin, perpetuals, and options into a single balance. Over 70 collateral assets, three margin modes (isolated, cross, portfolio margin), and the ability for hedged positions to offset each other.
MEXC offers cross and isolated margin on futures but no portfolio margin mode and no options market. Fine for directional perp trading. For multi-leg strategies or cross-product margin netting, Bybit is the more capable platform.
Security
MEXC has not disclosed a major breach as of 2026. Standard measures: 2FA, cold storage, proof of reserves.
Bybit suffered a $1.5 billion ETH theft in February 2025 via a compromised Safe{Wallet} signing interface, attributed to North Korea's Lazarus Group. Reserves replenished within 72 hours, withdrawals never paused, no users lost funds. Severe incident, but the response set a benchmark. Bybit's PoR is audited by Hacken.
Regulation
The starkest gap between the two.
- Bybit holds licenses from VARA (Dubai), CySEC (Cyprus), MiCA (Austria) and registrations in Kazakhstan and Georgia. Real frameworks with enforcement.
- MEXC is effectively unlicensed. Estonian license revoked November 2023. Warnings issued by Hong Kong's SFC, Germany's BaFin, Japan's FSA, Austria's FMA, and Canada's BCSC for operating without authorization. The regulatory score on this page (1/10) reflects that reality.
MEXC is restricted in the US, UK, Canada, Hong Kong, Singapore, and mainland China. For traders in jurisdictions where regulatory protections matter, Bybit is the only credible option between the two. You can gauge trader positioning across both on our long/short ratio dashboard.
The Bottom Line
Choose MEXC if rock-bottom fees are your priority, you want the widest altcoin perp catalog available, and you are comfortable on an effectively unregulated exchange.
Choose Bybit if you want deeper liquidity on majors, a unified margin system, real regulatory backing, and a platform that has publicly survived and recovered from a worst-case security event.
