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 | BITSTAMP | C+ | C | C | C | A | - |
| 2 | BITGET | A- | B+ | B+ | B+ | C+ | - |
| 3 | BITMEX | C- | C | C | C | B- | - |
| 4 | GATEIO | A | A- | A- | B+ | B | - |
| 5 | KUCOIN | B- | B | B | B | C | - |
| 6 | UPBIT | C | C- | C- | C- | A+ | - |
| 7 | GEMINI | C- | C- | C- | C- | C+ | - |
| 8 | KRAKEN | B | B- | B- | B- | A+ | - |
| 9 | BYBITSPOT | A+ | A- | A- | A- | B | - |
| 10 | COINBASE | C- | C+ | C+ | C+ | C | - |
| 11 | BITFINEX | B+ | C+ | C+ | B- | A+ | - |
| 12 | OKEX | A | B+ | B+ | A- | B | - |
| 13 | DERIBIT | C | C- | C- | C- | A | - |
| 14 | BINANCE | A+ | A | A | A | C | - |
| 15 | CRYPTOCOM | A- | B | B | B | B+ | - |
| 16 | BULLISH | B | A | A | A | C- | - |
24-hour and 7-day trading volume for BTC/USDT Spot
| # | Exchange | 24H Volume | 7D Volume | Market Share | Avg Trade Size |
|---|---|---|---|---|---|
| 1 | BINANCE | - | - | 2958.0% | $342 |
| 2 | BYBITSPOT | - | - | 2866.0% | $553 |
| 3 | GATEIO | - | - | 1314.0% | $2349 |
| 4 | CRYPTOCOM | - | - | 1044.0% | $960 |
| 5 | OKEX | - | - | 618.0% | $1507 |
| 6 | BITGET | - | - | 585.0% | $395 |
| 7 | BITFINEX | - | - | 328.0% | $2272 |
| 8 | KUCOIN | - | - | 132.0% | $933 |
| 9 | BULLISH | - | - | 121.0% | $3520 |
| 10 | KRAKEN | - | - | 9.0% | $1364 |
| 11 | COINBASE | - | - | 9.0% | $701 |
| 12 | DERIBIT | - | - | 7.0% | $342 |
| 13 | GEMINI | - | - | 5.0% | $288 |
| 14 | BITSTAMP | - | - | 2.0% | $2200 |
| 15 | BITMEX | - | - | 1.0% | $13 |
| 16 | UPBIT | - | - | 1.0% | $623 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITSTAMP | C | 1.69 bps | 1.77 bps | 2.19 bps | 6.23 bps | 11.60 bps |
| 2 | BITGET | B+ | 0.00 bps | 0.03 bps | 0.14 bps | 0.84 bps | 1.22 bps |
| 3 | BITMEX | C | 5.01 bps | 7.48 bps | 8.15 bps | 9.45 bps | 10.01 bps |
| 4 | GATEIO | A- | 0.01 bps | 0.02 bps | 0.03 bps | 0.34 bps | 0.74 bps |
| 5 | KUCOIN | B | 0.01 bps | 0.02 bps | 0.05 bps | 0.74 bps | 1.33 bps |
| 6 | UPBIT | C- | 67.01 bps | 77.91 bps | 89.17 bps | 118.07 bps | 174.49 bps |
| 7 | GEMINI | C- | 4.91 bps | 38.25 bps | 58.50 bps | 152.55 bps | 152.79 bps |
| 8 | KRAKEN | B- | 1.06 bps | 1.22 bps | 1.34 bps | 2.37 bps | 3.54 bps |
| 9 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.02 bps | 0.47 bps | 0.78 bps |
| 10 | COINBASE | C+ | 2.66 bps | 4.12 bps | 6.05 bps | 9.17 bps | 9.79 bps |
| 11 | BITFINEX | C+ | 2.10 bps | 2.11 bps | 2.20 bps | 3.19 bps | 5.13 bps |
| 12 | OKEX | B+ | 0.01 bps | 0.02 bps | 0.04 bps | 0.36 bps | 0.78 bps |
| 13 | DERIBIT | C- | 5.93 bps | 6.96 bps | 9.05 bps | 94.32 bps | 180.56 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.03 bps | 0.08 bps |
| 15 | CRYPTOCOM | B | 0.01 bps | 0.18 bps | 0.40 bps | 1.52 bps | 1.98 bps |
| 16 | BULLISH | A | 0.21 bps | 0.32 bps | 0.37 bps | 0.41 bps | 0.41 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITSTAMP | C | 0.85 bps | 0.88 bps | 1.09 bps | 3.11 bps | 5.80 bps |
| 2 | BITGET | B+ | 0.00 bps | 0.02 bps | 0.07 bps | 0.42 bps | 0.61 bps |
| 3 | BITMEX | C | 2.51 bps | 3.74 bps | 4.07 bps | 4.72 bps | 5.00 bps |
| 4 | GATEIO | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.17 bps | 0.37 bps |
| 5 | KUCOIN | B | 0.01 bps | 0.01 bps | 0.02 bps | 0.37 bps | 0.67 bps |
| 6 | UPBIT | C- | 33.50 bps | 38.96 bps | 44.58 bps | 59.03 bps | 87.24 bps |
| 7 | GEMINI | C- | 2.46 bps | 19.12 bps | 29.25 bps | 76.27 bps | 76.40 bps |
| 8 | KRAKEN | B- | 0.53 bps | 0.61 bps | 0.67 bps | 1.19 bps | 1.77 bps |
| 9 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.23 bps | 0.39 bps |
| 10 | COINBASE | C+ | 1.33 bps | 2.06 bps | 3.03 bps | 4.58 bps | 4.90 bps |
| 11 | BITFINEX | C+ | 1.05 bps | 1.06 bps | 1.10 bps | 1.59 bps | 2.56 bps |
| 12 | OKEX | B+ | 0.01 bps | 0.01 bps | 0.02 bps | 0.18 bps | 0.39 bps |
| 13 | DERIBIT | C- | 2.97 bps | 3.48 bps | 4.52 bps | 47.16 bps | 90.28 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.02 bps | 0.04 bps |
| 15 | CRYPTOCOM | B | 0.01 bps | 0.09 bps | 0.20 bps | 0.76 bps | 0.99 bps |
| 16 | BULLISH | A | 0.10 bps | 0.16 bps | 0.19 bps | 0.20 bps | 0.20 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | BITSTAMP | C | 1.32 bps | 1.69 bps |
| 2 | BITGET | B+ | 0.01 bps | 0.00 bps |
| 3 | BITMEX | C | 3.70 bps | 5.01 bps |
| 4 | GATEIO | B+ | 0.01 bps | 0.01 bps |
| 5 | KUCOIN | B | 0.01 bps | 0.01 bps |
| 6 | UPBIT | C- | 14.96 bps | 67.01 bps |
| 7 | GEMINI | C- | 18.65 bps | 4.91 bps |
| 8 | KRAKEN | B- | 0.56 bps | 1.06 bps |
| 9 | BYBITSPOT | A- | 0.00 bps | 0.01 bps |
| 10 | COINBASE | C+ | 0.93 bps | 2.66 bps |
| 11 | BITFINEX | B- | 0.56 bps | 2.10 bps |
| 12 | OKEX | A- | 0.00 bps | 0.01 bps |
| 13 | DERIBIT | C- | 1.65 bps | 5.93 bps |
| 14 | BINANCE | A | 0.00 bps | 0.00 bps |
| 15 | CRYPTOCOM | B | 0.03 bps | 0.01 bps |
| 16 | BULLISH | A | 0.14 bps | 0.21 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | BITSTAMP | A | 1.000 | 0.000 |
| 2 | BITGET | C+ | 1.000 | 0.000 |
| 3 | BITMEX | B- | 0.583 | 0.458 |
| 4 | GATEIO | B | 1.000 | 0.000 |
| 5 | KUCOIN | C | 1.000 | 0.000 |
| 6 | UPBIT | A+ | 1.000 | 0.000 |
| 7 | GEMINI | C+ | 1.000 | 0.000 |
| 8 | KRAKEN | A+ | 1.000 | 0.000 |
| 9 | BYBITSPOT | B | 1.000 | 0.000 |
| 10 | COINBASE | C | 1.000 | 0.000 |
| 11 | BITFINEX | A+ | 1.000 | 0.000 |
| 12 | OKEX | B | 1.000 | 0.000 |
| 13 | DERIBIT | A | 1.000 | 0.000 |
| 14 | BINANCE | C | 1.000 | 0.000 |
| 15 | CRYPTOCOM | B+ | 1.000 | 0.000 |
| 16 | BULLISH | C- | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | BITSTAMP | B+ | 977.3283 |
| 2 | BITGET | A- | 999.4200 |
| 3 | BITMEX | C | 278.4850 |
| 4 | GATEIO | A | 999.6433 |
| 5 | KUCOIN | B+ | 999.7317 |
| 6 | UPBIT | C+ | 674.2950 |
| 7 | GEMINI | C- | 656.3250 |
| 8 | KRAKEN | A- | 817.4033 |
| 9 | BYBITSPOT | B | 1000.0000 |
| 10 | COINBASE | C- | 482.0850 |
| 11 | BITFINEX | A | 970.4217 |
| 12 | OKEX | A+ | 999.3850 |
| 13 | DERIBIT | C | 465.6883 |
| 14 | BINANCE | A+ | 999.8367 |
| 15 | CRYPTOCOM | C+ | 967.4600 |
| 16 | BULLISH | C- | 534.6933 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).