Compare 15+ crypto exchanges by institutional-grade quality metrics. Rankings based on spread, slippage, volume, and liquidity analysis.
BTC/USDT Spot · All Regions · Last Week
| # | Exchange | Overall | Spread | Slippage | Consistency | Bid/Ask | 24H Volume |
|---|---|---|---|---|---|---|---|
| 1 | KUCOIN | B+ | B | B | B+ | C- | - |
| 2 | BITFINEX | B+ | C+ | C+ | B | A | - |
| 3 | BITGET | A | B+ | B+ | A | A- | - |
| 4 | BITSTAMP | C+ | C | C | C+ | A- | - |
| 5 | CRYPTOCOM | A- | B- | B- | B+ | B+ | - |
| 6 | UPBIT | C- | C- | C- | C | A- | - |
| 7 | GATEIO | A | B | B | B+ | B | - |
| 8 | KRAKEN | C+ | B- | B- | B | A | - |
| 9 | BYBITSPOT | A+ | B+ | B+ | A- | B+ | - |
| 10 | DERIBIT | C | C- | C- | C | A | - |
| 11 | BITMEX | C- | C | C | C- | C+ | - |
| 12 | COINBASE | C | C+ | C+ | B- | B+ | - |
| 13 | OKEX | A- | B+ | B+ | A- | C | - |
| 14 | BINANCE | A+ | B+ | B+ | A | C | - |
| 15 | GEMINI | C- | C- | C- | C- | C | - |
24-hour and 7-day trading volume for BTC/USDT Spot
| # | Exchange | 24H Volume | 7D Volume | Market Share | Avg Trade Size |
|---|---|---|---|---|---|
| 1 | BINANCE | - | - | 2197.0% | $306 |
| 2 | GATEIO | - | - | 2035.0% | $2175 |
| 3 | BYBITSPOT | - | - | 1853.0% | $955 |
| 4 | BITGET | - | - | 1170.0% | $1895 |
| 5 | OKEX | - | - | 910.0% | $1000 |
| 6 | CRYPTOCOM | - | - | 828.0% | $1957 |
| 7 | KUCOIN | - | - | 609.0% | $1557 |
| 8 | BITFINEX | - | - | 361.0% | $2882 |
| 9 | COINBASE | - | - | 15.0% | $1005 |
| 10 | KRAKEN | - | - | 12.0% | $1905 |
| 11 | DERIBIT | - | - | 6.0% | $506 |
| 12 | BITSTAMP | - | - | 3.0% | $2786 |
| 13 | GEMINI | - | - | 1.0% | $689 |
| 14 | UPBIT | - | - | 1.0% | $1163 |
| 15 | BITMEX | - | - | - | $129 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | KUCOIN | B | 0.01 bps | 0.02 bps | 0.02 bps | 0.37 bps | 0.68 bps |
| 2 | BITFINEX | C+ | 1.88 bps | 1.92 bps | 2.00 bps | 2.29 bps | 2.62 bps |
| 3 | BITGET | B+ | 0.00 bps | 0.00 bps | 0.00 bps | 0.06 bps | 0.18 bps |
| 4 | BITSTAMP | C | 0.48 bps | 0.69 bps | 1.22 bps | 4.68 bps | 9.04 bps |
| 5 | CRYPTOCOM | B- | 0.01 bps | 0.13 bps | 0.28 bps | 0.85 bps | 1.30 bps |
| 6 | UPBIT | C- | 54.81 bps | 61.74 bps | 66.67 bps | 92.24 bps | 123.26 bps |
| 7 | GATEIO | B | 0.01 bps | 0.01 bps | 0.02 bps | 0.51 bps | 0.96 bps |
| 8 | KRAKEN | B- | 1.00 bps | 1.18 bps | 1.29 bps | 2.23 bps | 3.27 bps |
| 9 | BYBITSPOT | B+ | 0.01 bps | 0.01 bps | 0.01 bps | 0.15 bps | 0.46 bps |
| 10 | DERIBIT | C- | 6.98 bps | 9.24 bps | 10.41 bps | 28.69 bps | 42.86 bps |
| 11 | BITMEX | C | 10.67 bps | 19.27 bps | 25.88 bps | 67.78 bps | 76.55 bps |
| 12 | COINBASE | C+ | 2.65 bps | 3.51 bps | 4.44 bps | 6.51 bps | 7.55 bps |
| 13 | OKEX | B+ | 0.01 bps | 0.02 bps | 0.04 bps | 0.27 bps | 0.47 bps |
| 14 | BINANCE | B+ | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps | 0.03 bps |
| 15 | GEMINI | C- | 12.42 bps | 35.67 bps | 44.84 bps | 181.67 bps | 235.74 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | KUCOIN | B | 0.01 bps | 0.01 bps | 0.01 bps | 0.18 bps | 0.34 bps |
| 2 | BITFINEX | C+ | 0.94 bps | 0.96 bps | 1.00 bps | 1.14 bps | 1.31 bps |
| 3 | BITGET | B+ | 0.00 bps | 0.00 bps | 0.00 bps | 0.03 bps | 0.09 bps |
| 4 | BITSTAMP | C | 0.24 bps | 0.34 bps | 0.61 bps | 2.34 bps | 4.52 bps |
| 5 | CRYPTOCOM | B- | 0.01 bps | 0.07 bps | 0.14 bps | 0.42 bps | 0.65 bps |
| 6 | UPBIT | C- | 27.40 bps | 30.87 bps | 33.33 bps | 46.12 bps | 61.63 bps |
| 7 | GATEIO | B | 0.01 bps | 0.01 bps | 0.01 bps | 0.25 bps | 0.48 bps |
| 8 | KRAKEN | B- | 0.50 bps | 0.59 bps | 0.64 bps | 1.11 bps | 1.64 bps |
| 9 | BYBITSPOT | B+ | 0.01 bps | 0.01 bps | 0.01 bps | 0.08 bps | 0.23 bps |
| 10 | DERIBIT | C- | 3.49 bps | 4.62 bps | 5.21 bps | 14.34 bps | 21.43 bps |
| 11 | BITMEX | C | 5.33 bps | 9.64 bps | 12.94 bps | 33.89 bps | 38.27 bps |
| 12 | COINBASE | C+ | 1.32 bps | 1.75 bps | 2.22 bps | 3.25 bps | 3.77 bps |
| 13 | OKEX | B+ | 0.01 bps | 0.01 bps | 0.02 bps | 0.14 bps | 0.23 bps |
| 14 | BINANCE | B+ | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps | 0.01 bps |
| 15 | GEMINI | C- | 6.21 bps | 17.84 bps | 22.42 bps | 90.83 bps | 117.87 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | KUCOIN | B+ | 0.01 bps | 0.01 bps |
| 2 | BITFINEX | B | 0.54 bps | 1.88 bps |
| 3 | BITGET | A | 0.00 bps | 0.00 bps |
| 4 | BITSTAMP | C+ | 0.80 bps | 0.48 bps |
| 5 | CRYPTOCOM | B+ | 0.04 bps | 0.01 bps |
| 6 | UPBIT | C | 21.25 bps | 54.81 bps |
| 7 | GATEIO | B+ | 0.00 bps | 0.01 bps |
| 8 | KRAKEN | B | 0.56 bps | 1.00 bps |
| 9 | BYBITSPOT | A- | 0.00 bps | 0.01 bps |
| 10 | DERIBIT | C | 2.19 bps | 6.98 bps |
| 11 | BITMEX | C- | 25.53 bps | 10.67 bps |
| 12 | COINBASE | B- | 0.81 bps | 2.65 bps |
| 13 | OKEX | A- | 0.00 bps | 0.01 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps |
| 15 | GEMINI | C- | 38.70 bps | 12.42 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | KUCOIN | C- | 1.000 | 0.010 |
| 2 | BITFINEX | A | 1.000 | 0.000 |
| 3 | BITGET | A- | 1.000 | 0.000 |
| 4 | BITSTAMP | A- | 1.000 | 0.000 |
| 5 | CRYPTOCOM | B+ | 1.000 | 0.000 |
| 6 | UPBIT | A- | 1.000 | 0.000 |
| 7 | GATEIO | B | 1.000 | 0.000 |
| 8 | KRAKEN | A | 1.000 | 0.000 |
| 9 | BYBITSPOT | B+ | 1.000 | 0.000 |
| 10 | DERIBIT | A | 1.000 | 0.000 |
| 11 | BITMEX | C+ | 1.000 | 0.000 |
| 12 | COINBASE | B+ | 1.000 | 0.000 |
| 13 | OKEX | C | 1.000 | 0.000 |
| 14 | BINANCE | C | 1.000 | 0.000 |
| 15 | GEMINI | C | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | KUCOIN | A- | 997.1600 |
| 2 | BITFINEX | A | 996.6817 |
| 3 | BITGET | A+ | 999.9617 |
| 4 | BITSTAMP | B+ | 998.2333 |
| 5 | CRYPTOCOM | C | 969.2617 |
| 6 | UPBIT | C | 714.8583 |
| 7 | GATEIO | C+ | 999.9417 |
| 8 | KRAKEN | B | 949.8067 |
| 9 | BYBITSPOT | A | 1000.0000 |
| 10 | DERIBIT | C+ | 573.4050 |
| 11 | BITMEX | B+ | 976.7750 |
| 12 | COINBASE | C- | 484.8850 |
| 13 | OKEX | A- | 996.7183 |
| 14 | BINANCE | A+ | 999.4883 |
| 15 | GEMINI | C- | 846.8983 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).