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 | GATEIO | A | B | B | B | C+ | - |
| 2 | COINBASE | C | C+ | C+ | C+ | C | - |
| 3 | BITSTAMP | C+ | C | C | C | A | - |
| 4 | DERIBIT | C- | C- | C- | C- | B | - |
| 5 | KUCOIN | A- | B+ | B+ | B | A+ | - |
| 6 | BYBITSPOT | A+ | A- | A- | B+ | C+ | - |
| 7 | BULLISH | B | A | A | A | C- | - |
| 8 | BITFINEX | C+ | C+ | C+ | B- | A+ | - |
| 9 | GEMINI | C- | C- | C- | C- | B | - |
| 10 | OKEX | A | A- | A- | B+ | B+ | - |
| 11 | UPBIT | C | C | C | C | A | - |
| 12 | BITGET | A- | B+ | B+ | B+ | C | - |
| 13 | BINANCE | A+ | A | A | A | C | - |
| 14 | KRAKEN | B | B- | B- | B- | A+ | - |
| 15 | CRYPTOCOM | B+ | B | B | B+ | A | - |
24-hour and 7-day trading volume for BTC/USDT Spot
| # | Exchange | 24H Volume | 7D Volume | Market Share | Avg Trade Size |
|---|---|---|---|---|---|
| 1 | BINANCE | - | - | 4006.0% | $402 |
| 2 | BYBITSPOT | - | - | 1731.0% | $912 |
| 3 | GATEIO | - | - | 1594.0% | $4379 |
| 4 | OKEX | - | - | 1255.0% | $1685 |
| 5 | BITGET | - | - | 541.0% | $945 |
| 6 | CRYPTOCOM | - | - | 377.0% | $1084 |
| 7 | KUCOIN | - | - | 266.0% | $891 |
| 8 | BULLISH | - | - | 132.0% | $984 |
| 9 | BITFINEX | - | - | 56.0% | $980 |
| 10 | KRAKEN | - | - | 26.0% | $1594 |
| 11 | COINBASE | - | - | 12.0% | $447 |
| 12 | BITSTAMP | - | - | 2.0% | $2518 |
| 13 | UPBIT | - | - | 1.0% | $894 |
| 14 | DERIBIT | - | - | - | $128 |
| 15 | GEMINI | - | - | - | $311 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | GATEIO | B | 0.11 bps | 0.31 bps | 0.60 bps | 1.99 bps | 2.50 bps |
| 2 | COINBASE | C+ | 2.22 bps | 3.05 bps | 4.08 bps | 7.59 bps | 8.17 bps |
| 3 | BITSTAMP | C | 0.64 bps | 0.68 bps | 1.08 bps | 3.95 bps | 8.92 bps |
| 4 | DERIBIT | C- | 18.69 bps | 32.45 bps | 49.49 bps | 129.42 bps | 133.74 bps |
| 5 | KUCOIN | B+ | 0.02 bps | 0.02 bps | 0.03 bps | 0.47 bps | 0.99 bps |
| 6 | BYBITSPOT | A- | 0.02 bps | 0.02 bps | 0.02 bps | 0.53 bps | 0.86 bps |
| 7 | BULLISH | A | 0.23 bps | 0.34 bps | 0.38 bps | 0.44 bps | 0.44 bps |
| 8 | BITFINEX | C+ | 2.39 bps | 2.43 bps | 2.60 bps | 4.62 bps | 6.90 bps |
| 9 | GEMINI | C- | 0.59 bps | 12.52 bps | 27.30 bps | 85.26 bps | 158.16 bps |
| 10 | OKEX | A- | 0.02 bps | 0.02 bps | 0.02 bps | 0.13 bps | 0.44 bps |
| 11 | UPBIT | C | 5.69 bps | 20.76 bps | 32.08 bps | 79.05 bps | 125.17 bps |
| 12 | BITGET | B+ | 0.00 bps | 0.04 bps | 0.08 bps | 0.47 bps | 0.73 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.03 bps | 0.06 bps |
| 14 | KRAKEN | B- | 0.77 bps | 0.98 bps | 1.13 bps | 2.33 bps | 3.84 bps |
| 15 | CRYPTOCOM | B | 0.00 bps | 0.07 bps | 0.24 bps | 1.42 bps | 1.97 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | GATEIO | B | 0.05 bps | 0.15 bps | 0.30 bps | 1.00 bps | 1.25 bps |
| 2 | COINBASE | C+ | 1.11 bps | 1.53 bps | 2.04 bps | 3.79 bps | 4.09 bps |
| 3 | BITSTAMP | C | 0.32 bps | 0.34 bps | 0.54 bps | 1.97 bps | 4.46 bps |
| 4 | DERIBIT | C- | 9.34 bps | 16.23 bps | 24.75 bps | 64.71 bps | 66.87 bps |
| 5 | KUCOIN | B+ | 0.01 bps | 0.01 bps | 0.02 bps | 0.23 bps | 0.50 bps |
| 6 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.26 bps | 0.43 bps |
| 7 | BULLISH | A | 0.11 bps | 0.17 bps | 0.19 bps | 0.22 bps | 0.22 bps |
| 8 | BITFINEX | C+ | 1.19 bps | 1.22 bps | 1.30 bps | 2.31 bps | 3.45 bps |
| 9 | GEMINI | C- | 0.29 bps | 6.26 bps | 13.65 bps | 42.63 bps | 79.08 bps |
| 10 | OKEX | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.06 bps | 0.22 bps |
| 11 | UPBIT | C | 2.84 bps | 10.38 bps | 16.04 bps | 39.53 bps | 62.59 bps |
| 12 | BITGET | B+ | 0.00 bps | 0.02 bps | 0.04 bps | 0.23 bps | 0.37 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps | 0.03 bps |
| 14 | KRAKEN | B- | 0.38 bps | 0.49 bps | 0.57 bps | 1.17 bps | 1.92 bps |
| 15 | CRYPTOCOM | B | 0.00 bps | 0.04 bps | 0.12 bps | 0.71 bps | 0.98 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | GATEIO | B | 0.18 bps | 0.11 bps |
| 2 | COINBASE | C+ | 0.72 bps | 2.22 bps |
| 3 | BITSTAMP | C | 0.86 bps | 0.64 bps |
| 4 | DERIBIT | C- | 5.49 bps | 18.69 bps |
| 5 | KUCOIN | B | 0.01 bps | 0.02 bps |
| 6 | BYBITSPOT | B+ | 0.00 bps | 0.02 bps |
| 7 | BULLISH | A | 0.14 bps | 0.23 bps |
| 8 | BITFINEX | B- | 0.51 bps | 2.39 bps |
| 9 | GEMINI | C- | 6.29 bps | 0.59 bps |
| 10 | OKEX | B+ | 0.00 bps | 0.02 bps |
| 11 | UPBIT | C | 4.52 bps | 5.69 bps |
| 12 | BITGET | B+ | 0.02 bps | 0.00 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps |
| 14 | KRAKEN | B- | 0.55 bps | 0.77 bps |
| 15 | CRYPTOCOM | B+ | 0.01 bps | 0.00 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | GATEIO | C+ | 1.000 | 0.000 |
| 2 | COINBASE | C | 1.000 | 0.005 |
| 3 | BITSTAMP | A | 1.000 | 0.000 |
| 4 | DERIBIT | B | 1.000 | 0.000 |
| 5 | KUCOIN | A+ | 1.000 | 0.000 |
| 6 | BYBITSPOT | C+ | 1.000 | 0.000 |
| 7 | BULLISH | C- | 1.000 | 0.000 |
| 8 | BITFINEX | A+ | 1.000 | 0.000 |
| 9 | GEMINI | B | 1.000 | 0.005 |
| 10 | OKEX | B+ | 1.000 | 0.000 |
| 11 | UPBIT | A | 1.000 | 0.000 |
| 12 | BITGET | C | 1.000 | 0.000 |
| 13 | BINANCE | C | 1.000 | 0.000 |
| 14 | KRAKEN | A+ | 1.000 | 0.000 |
| 15 | CRYPTOCOM | A | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | GATEIO | C | 922.4567 |
| 2 | COINBASE | C | 492.2133 |
| 3 | BITSTAMP | B+ | 996.1383 |
| 4 | DERIBIT | C- | 222.9350 |
| 5 | KUCOIN | A | 999.6233 |
| 6 | BYBITSPOT | A- | 1000.0000 |
| 7 | BULLISH | C- | 520.9800 |
| 8 | BITFINEX | B+ | 949.0717 |
| 9 | GEMINI | C+ | 723.0683 |
| 10 | OKEX | A | 999.9233 |
| 11 | UPBIT | B | 603.8933 |
| 12 | BITGET | A+ | 994.0150 |
| 13 | BINANCE | A+ | 999.4150 |
| 14 | KRAKEN | A- | 841.6600 |
| 15 | CRYPTOCOM | C+ | 996.4667 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).