Compare 16+ 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 | CRYPTOCOM | B+ | B | B | B | A- | - |
| 2 | GEMINI | C- | C- | C- | C- | B+ | - |
| 3 | BYBITSPOT | A+ | A- | A- | B- | B+ | - |
| 4 | BITSTAMP | C | C | C | C- | A- | - |
| 5 | KRAKEN | B | B- | B- | C+ | A | - |
| 6 | KUCOIN | A- | A- | A- | B | C | - |
| 7 | BULLISH | B | A | A | B+ | C | - |
| 8 | GATEIO | A | B | B | B- | B+ | - |
| 9 | BITFINEX | C+ | C+ | C+ | C+ | A- | - |
| 10 | COINBASE | C- | C+ | C+ | C | C- | - |
| 11 | UPBIT | C- | C | C | C | C- | - |
| 12 | BINANCE | A+ | A | A | B+ | C | - |
| 13 | OKEX | A | B+ | B+ | B | B | - |
| 14 | BITMEX | C+ | C- | C- | C- | A | - |
| 15 | BITGET | A- | B+ | B+ | B | C+ | - |
| 16 | DERIBIT | C | C- | C- | C- | A | - |
24-hour and 7-day trading volume for BTC/USDT Spot
| # | Exchange | 24H Volume | 7D Volume | Market Share | Avg Trade Size |
|---|---|---|---|---|---|
| 1 | BINANCE | - | - | 4452.0% | $271 |
| 2 | BYBITSPOT | - | - | 1634.0% | $783 |
| 3 | OKEX | - | - | 1393.0% | $1483 |
| 4 | GATEIO | - | - | 1332.0% | $3438 |
| 5 | BITGET | - | - | 774.0% | $1150 |
| 6 | CRYPTOCOM | - | - | 524.0% | $1065 |
| 7 | KUCOIN | - | - | 653.0% | $317 |
| 8 | BITFINEX | - | - | 158.0% | $1111 |
| 9 | BULLISH | - | - | 156.0% | $4069 |
| 10 | KRAKEN | - | - | 17.0% | $1449 |
| 11 | COINBASE | - | - | 14.0% | $373 |
| 12 | BITSTAMP | - | - | 7.0% | $3340 |
| 13 | UPBIT | - | - | 1.0% | $291 |
| 14 | DERIBIT | - | - | 1.0% | $513 |
| 15 | BITMEX | - | - | - | $783 |
| 16 | GEMINI | - | - | - | $87 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | CRYPTOCOM | B | 0.00 bps | 0.07 bps | 0.19 bps | 1.16 bps | 1.72 bps |
| 2 | GEMINI | C- | 46.62 bps | 39.67 bps | 26.53 bps | 79.76 bps | 176.91 bps |
| 3 | BYBITSPOT | A- | 0.01 bps | 0.02 bps | 0.04 bps | 0.65 bps | 0.95 bps |
| 4 | BITSTAMP | C | 0.74 bps | 0.78 bps | 1.08 bps | 4.01 bps | 9.01 bps |
| 5 | KRAKEN | B- | 0.94 bps | 1.10 bps | 1.28 bps | 2.41 bps | 3.80 bps |
| 6 | KUCOIN | A- | 0.03 bps | 0.09 bps | 0.14 bps | 0.28 bps | 0.38 bps |
| 7 | BULLISH | A | 0.11 bps | 0.17 bps | 0.20 bps | 0.22 bps | 0.23 bps |
| 8 | GATEIO | B | 0.04 bps | 0.17 bps | 0.40 bps | 1.76 bps | 2.53 bps |
| 9 | BITFINEX | C+ | 1.33 bps | 1.71 bps | 2.23 bps | 4.76 bps | 7.38 bps |
| 10 | COINBASE | C+ | 2.74 bps | 4.04 bps | 4.92 bps | 8.41 bps | 8.91 bps |
| 11 | UPBIT | C | 5.03 bps | 21.10 bps | 26.99 bps | 41.99 bps | 58.46 bps |
| 12 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.04 bps | 0.08 bps |
| 13 | OKEX | B+ | 0.01 bps | 0.05 bps | 0.10 bps | 0.65 bps | 1.09 bps |
| 14 | BITMEX | C- | 298.75 bps | 357.30 bps | 389.58 bps | 795.99 bps | 932.73 bps |
| 15 | BITGET | B+ | 0.00 bps | 0.06 bps | 0.15 bps | 0.61 bps | 0.94 bps |
| 16 | DERIBIT | C- | 12.08 bps | 16.74 bps | 34.43 bps | 102.51 bps | 153.72 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | CRYPTOCOM | B | 0.00 bps | 0.03 bps | 0.10 bps | 0.58 bps | 0.86 bps |
| 2 | GEMINI | C- | 23.31 bps | 19.84 bps | 13.27 bps | 39.88 bps | 88.45 bps |
| 3 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.02 bps | 0.33 bps | 0.48 bps |
| 4 | BITSTAMP | C | 0.37 bps | 0.39 bps | 0.54 bps | 2.00 bps | 4.50 bps |
| 5 | KRAKEN | B- | 0.47 bps | 0.55 bps | 0.64 bps | 1.20 bps | 1.90 bps |
| 6 | KUCOIN | A- | 0.02 bps | 0.05 bps | 0.07 bps | 0.14 bps | 0.19 bps |
| 7 | BULLISH | A | 0.06 bps | 0.08 bps | 0.10 bps | 0.11 bps | 0.11 bps |
| 8 | GATEIO | B | 0.02 bps | 0.08 bps | 0.20 bps | 0.88 bps | 1.27 bps |
| 9 | BITFINEX | C+ | 0.66 bps | 0.86 bps | 1.11 bps | 2.38 bps | 3.69 bps |
| 10 | COINBASE | C+ | 1.37 bps | 2.02 bps | 2.46 bps | 4.21 bps | 4.45 bps |
| 11 | UPBIT | C | 2.52 bps | 10.55 bps | 13.50 bps | 20.99 bps | 29.23 bps |
| 12 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.02 bps | 0.04 bps |
| 13 | OKEX | B+ | 0.01 bps | 0.03 bps | 0.05 bps | 0.32 bps | 0.54 bps |
| 14 | BITMEX | C- | 149.37 bps | 178.65 bps | 194.79 bps | 398.00 bps | 466.37 bps |
| 15 | BITGET | B+ | 0.00 bps | 0.03 bps | 0.08 bps | 0.31 bps | 0.47 bps |
| 16 | DERIBIT | C- | 6.04 bps | 8.37 bps | 17.21 bps | 51.26 bps | 76.86 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | CRYPTOCOM | B | 0.02 bps | 0.00 bps |
| 2 | GEMINI | C- | 215.44 bps | 46.62 bps |
| 3 | BYBITSPOT | B- | 0.00 bps | 0.01 bps |
| 4 | BITSTAMP | C- | 0.86 bps | 0.74 bps |
| 5 | KRAKEN | C+ | 0.52 bps | 0.94 bps |
| 6 | KUCOIN | B | 0.04 bps | 0.03 bps |
| 7 | BULLISH | B+ | 0.09 bps | 0.11 bps |
| 8 | GATEIO | B- | 0.10 bps | 0.04 bps |
| 9 | BITFINEX | C+ | 0.35 bps | 1.33 bps |
| 10 | COINBASE | C | 0.78 bps | 2.74 bps |
| 11 | UPBIT | C | 5.11 bps | 5.03 bps |
| 12 | BINANCE | B+ | 0.00 bps | 0.00 bps |
| 13 | OKEX | B | 0.01 bps | 0.01 bps |
| 14 | BITMEX | C- | 88.12 bps | 298.75 bps |
| 15 | BITGET | B | 0.01 bps | 0.00 bps |
| 16 | DERIBIT | C- | 3.71 bps | 12.08 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | CRYPTOCOM | A- | 1.000 | 0.000 |
| 2 | GEMINI | B+ | 1.000 | 0.000 |
| 3 | BYBITSPOT | B+ | 1.000 | 0.000 |
| 4 | BITSTAMP | A- | 1.000 | 0.000 |
| 5 | KRAKEN | A | 1.000 | 0.000 |
| 6 | KUCOIN | C | 1.000 | 0.025 |
| 7 | BULLISH | C | 0.993 | 0.127 |
| 8 | GATEIO | B+ | 1.000 | 0.000 |
| 9 | BITFINEX | A- | 1.000 | 0.000 |
| 10 | COINBASE | C- | 1.350 | 8.050 |
| 11 | UPBIT | C- | 2.004 | 8.062 |
| 12 | BINANCE | C | 1.000 | 0.000 |
| 13 | OKEX | B | 1.000 | 0.000 |
| 14 | BITMEX | A | 1.000 | 0.000 |
| 15 | BITGET | C+ | 1.000 | 0.000 |
| 16 | DERIBIT | A | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | CRYPTOCOM | C | 995.6980 |
| 2 | GEMINI | C- | 667.2880 |
| 3 | BYBITSPOT | C+ | 1000.0000 |
| 4 | BITSTAMP | A- | 994.6200 |
| 5 | KRAKEN | B+ | 850.4500 |
| 6 | KUCOIN | B+ | 927.9075 |
| 7 | BULLISH | C- | 342.9333 |
| 8 | GATEIO | C- | 976.5860 |
| 9 | BITFINEX | C+ | 976.4825 |
| 10 | COINBASE | C- | 403.1175 |
| 11 | UPBIT | C | 595.3380 |
| 12 | BINANCE | A+ | 999.8075 |
| 13 | OKEX | A- | 996.8160 |
| 14 | BITMEX | A+ | 542.9040 |
| 15 | BITGET | A | 997.0220 |
| 16 | DERIBIT | A | 431.9000 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).