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 | BITGET | A | A- | A- | A- | B+ | - |
| 2 | GATEIO | A | A- | A- | A- | C+ | - |
| 3 | GEMINI | C- | C- | C- | C- | C+ | - |
| 4 | BITFINEX | B | B | B | B+ | A | - |
| 5 | BITMEX | C- | C | C | C- | C | - |
| 6 | DERIBIT | C | C | C | C- | A- | - |
| 7 | CRYPTOCOM | B+ | B+ | B+ | B+ | B | - |
| 8 | KRAKEN | B | B | B | B+ | A | - |
| 9 | OKEX | A- | A | A | A | C- | - |
| 10 | BYBITSPOT | A+ | A- | A- | A- | A- | - |
| 11 | BITSTAMP | C+ | C+ | C+ | C | A | - |
| 12 | UPBIT | C | C- | C- | C | A- | - |
| 13 | KUCOIN | A- | B+ | B+ | A- | C | - |
| 14 | BINANCE | A+ | A | A | A | C | - |
| 15 | COINBASE | C+ | B- | B- | B | B+ | - |
24-hour and 7-day trading volume for BTC/USDT Spot
| # | Exchange | 24H Volume | 7D Volume | Market Share | Avg Trade Size |
|---|---|---|---|---|---|
| 1 | BINANCE | - | - | 2469.0% | $320 |
| 2 | GATEIO | - | - | 2075.0% | $2401 |
| 3 | BYBITSPOT | - | - | 1906.0% | $1012 |
| 4 | BITGET | - | - | 889.0% | $1222 |
| 5 | CRYPTOCOM | - | - | 865.0% | $1905 |
| 6 | KUCOIN | - | - | 839.0% | $1002 |
| 7 | OKEX | - | - | 753.0% | $409 |
| 8 | BITFINEX | - | - | 170.0% | $2492 |
| 9 | COINBASE | - | - | 16.0% | $1079 |
| 10 | KRAKEN | - | - | 13.0% | $2169 |
| 11 | DERIBIT | - | - | 4.0% | $392 |
| 12 | BITSTAMP | - | - | 1.0% | $2891 |
| 13 | UPBIT | - | - | 1.0% | $1684 |
| 14 | GEMINI | - | - | - | $513 |
| 15 | BITMEX | - | - | - | $50 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITGET | A- | 0.00 bps | 0.00 bps | 0.00 bps | 0.13 bps | 0.36 bps |
| 2 | GATEIO | A- | 0.01 bps | 0.01 bps | 0.02 bps | 0.33 bps | 0.58 bps |
| 3 | GEMINI | C- | 4.47 bps | 33.84 bps | 46.75 bps | 150.96 bps | 190.84 bps |
| 4 | BITFINEX | B | 1.90 bps | 1.93 bps | 2.02 bps | 2.48 bps | 2.95 bps |
| 5 | BITMEX | C | 6.72 bps | 11.64 bps | 22.28 bps | 78.71 bps | 101.65 bps |
| 6 | DERIBIT | C | 8.07 bps | 8.65 bps | 9.58 bps | 38.42 bps | 55.82 bps |
| 7 | CRYPTOCOM | B+ | 0.01 bps | 0.14 bps | 0.30 bps | 0.95 bps | 1.39 bps |
| 8 | KRAKEN | B | 1.13 bps | 1.37 bps | 1.53 bps | 2.70 bps | 3.68 bps |
| 9 | OKEX | A | 0.01 bps | 0.01 bps | 0.02 bps | 0.09 bps | 0.18 bps |
| 10 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.18 bps | 0.53 bps |
| 11 | BITSTAMP | C+ | 0.78 bps | 0.87 bps | 1.50 bps | 5.30 bps | 11.54 bps |
| 12 | UPBIT | C- | 65.67 bps | 72.89 bps | 79.93 bps | 104.40 bps | 129.83 bps |
| 13 | KUCOIN | B+ | 0.01 bps | 0.03 bps | 0.05 bps | 0.26 bps | 0.51 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps | 0.02 bps |
| 15 | COINBASE | B- | 2.73 bps | 3.61 bps | 4.76 bps | 7.43 bps | 8.55 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITGET | A- | 0.00 bps | 0.00 bps | 0.00 bps | 0.07 bps | 0.18 bps |
| 2 | GATEIO | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.16 bps | 0.29 bps |
| 3 | GEMINI | C- | 2.24 bps | 16.92 bps | 23.38 bps | 75.48 bps | 95.42 bps |
| 4 | BITFINEX | B | 0.95 bps | 0.96 bps | 1.01 bps | 1.24 bps | 1.48 bps |
| 5 | BITMEX | C | 3.36 bps | 5.82 bps | 11.14 bps | 39.36 bps | 50.83 bps |
| 6 | DERIBIT | C | 4.04 bps | 4.32 bps | 4.79 bps | 19.21 bps | 27.91 bps |
| 7 | CRYPTOCOM | B+ | 0.01 bps | 0.07 bps | 0.15 bps | 0.48 bps | 0.70 bps |
| 8 | KRAKEN | B | 0.56 bps | 0.69 bps | 0.76 bps | 1.35 bps | 1.84 bps |
| 9 | OKEX | A | 0.01 bps | 0.01 bps | 0.01 bps | 0.05 bps | 0.09 bps |
| 10 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.09 bps | 0.26 bps |
| 11 | BITSTAMP | C+ | 0.39 bps | 0.43 bps | 0.75 bps | 2.65 bps | 5.77 bps |
| 12 | UPBIT | C- | 32.83 bps | 36.44 bps | 39.96 bps | 52.20 bps | 64.92 bps |
| 13 | KUCOIN | B+ | 0.01 bps | 0.02 bps | 0.03 bps | 0.13 bps | 0.26 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps |
| 15 | COINBASE | B- | 1.36 bps | 1.81 bps | 2.38 bps | 3.71 bps | 4.27 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | BITGET | A- | 0.00 bps | 0.00 bps |
| 2 | GATEIO | A- | 0.00 bps | 0.01 bps |
| 3 | GEMINI | C- | 12.02 bps | 4.47 bps |
| 4 | BITFINEX | B+ | 0.53 bps | 1.90 bps |
| 5 | BITMEX | C- | 3.68 bps | 6.72 bps |
| 6 | DERIBIT | C- | 3.01 bps | 8.07 bps |
| 7 | CRYPTOCOM | B+ | 0.04 bps | 0.01 bps |
| 8 | KRAKEN | B+ | 0.58 bps | 1.13 bps |
| 9 | OKEX | A | 0.01 bps | 0.01 bps |
| 10 | BYBITSPOT | A- | 0.00 bps | 0.01 bps |
| 11 | BITSTAMP | C | 1.48 bps | 0.78 bps |
| 12 | UPBIT | C | 20.41 bps | 65.67 bps |
| 13 | KUCOIN | A- | 0.00 bps | 0.01 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps |
| 15 | COINBASE | B | 0.90 bps | 2.73 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | BITGET | B+ | 1.000 | 0.000 |
| 2 | GATEIO | C+ | 1.000 | 0.000 |
| 3 | GEMINI | C+ | 1.000 | 0.000 |
| 4 | BITFINEX | A | 1.000 | 0.000 |
| 5 | BITMEX | C | 1.000 | 0.000 |
| 6 | DERIBIT | A- | 1.000 | 0.000 |
| 7 | CRYPTOCOM | B | 1.000 | 0.000 |
| 8 | KRAKEN | A | 1.000 | 0.000 |
| 9 | OKEX | C- | 1.000 | 0.000 |
| 10 | BYBITSPOT | A- | 1.000 | 0.000 |
| 11 | BITSTAMP | A | 1.000 | 0.000 |
| 12 | UPBIT | A- | 1.000 | 0.000 |
| 13 | KUCOIN | C | 1.000 | 0.000 |
| 14 | BINANCE | C | 1.000 | 0.000 |
| 15 | COINBASE | B+ | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | BITGET | A+ | 1000.0000 |
| 2 | GATEIO | B | 999.8025 |
| 3 | GEMINI | C- | 669.2875 |
| 4 | BITFINEX | A- | 994.8750 |
| 5 | BITMEX | C+ | 999.7825 |
| 6 | DERIBIT | C+ | 597.7100 |
| 7 | CRYPTOCOM | C | 967.2550 |
| 8 | KRAKEN | B | 934.5475 |
| 9 | OKEX | A | 994.5625 |
| 10 | BYBITSPOT | A | 1000.0000 |
| 11 | BITSTAMP | B+ | 996.1200 |
| 12 | UPBIT | C | 805.5400 |
| 13 | KUCOIN | B+ | 997.5800 |
| 14 | BINANCE | A+ | 999.9350 |
| 15 | COINBASE | C- | 587.3475 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).