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 | BITMEX | C- | C | C | C | C+ | - |
| 2 | UPBIT | C | C- | C- | C- | A | - |
| 3 | BITGET | A | B+ | B+ | A- | B+ | - |
| 4 | BITSTAMP | C+ | C | C | C | A | - |
| 5 | BITFINEX | B+ | B- | B- | B- | A+ | - |
| 6 | CRYPTOCOM | A | B | B | B+ | A- | - |
| 7 | GEMINI | C- | C- | C- | C- | C | - |
| 8 | BYBITSPOT | A+ | A- | A- | A- | A- | - |
| 9 | GATEIO | A- | B | B | B | C- | - |
| 10 | DERIBIT | C | C- | C- | C- | A | - |
| 11 | BULLISH | B | A | A | A | C- | - |
| 12 | COINBASE | C- | C+ | C+ | C+ | C | - |
| 13 | BINANCE | A+ | A | A | A | C | - |
| 14 | OKEX | A- | A- | A- | B+ | B | - |
| 15 | KRAKEN | B | B- | B- | B- | A+ | - |
| 16 | KUCOIN | 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 | BYBITSPOT | - | - | 3020.0% | $731 |
| 2 | BINANCE | - | - | 3416.0% | $411 |
| 3 | CRYPTOCOM | - | - | 1094.0% | $977 |
| 4 | GATEIO | - | - | 1087.0% | $2021 |
| 5 | BITGET | - | - | 730.0% | $609 |
| 6 | OKEX | - | - | 548.0% | $1649 |
| 7 | BITFINEX | - | - | 300.0% | $2861 |
| 8 | KUCOIN | - | - | 218.0% | $1126 |
| 9 | BULLISH | - | - | 155.0% | $3680 |
| 10 | GEMINI | - | - | 23.0% | $672 |
| 11 | KRAKEN | - | - | 12.0% | $1716 |
| 12 | COINBASE | - | - | 10.0% | $672 |
| 13 | DERIBIT | - | - | 4.0% | $290 |
| 14 | BITSTAMP | - | - | 2.0% | $2057 |
| 15 | BITMEX | - | - | 2.0% | $37 |
| 16 | UPBIT | - | - | 1.0% | $1322 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITMEX | C | 9.59 bps | 12.44 bps | 13.18 bps | 14.34 bps | 14.76 bps |
| 2 | UPBIT | C- | 59.88 bps | 73.42 bps | 84.25 bps | 112.69 bps | 169.79 bps |
| 3 | BITGET | B+ | 0.00 bps | 0.02 bps | 0.06 bps | 0.38 bps | 0.60 bps |
| 4 | BITSTAMP | C | 2.24 bps | 2.36 bps | 2.88 bps | 7.85 bps | 13.75 bps |
| 5 | BITFINEX | B- | 2.36 bps | 2.37 bps | 2.44 bps | 3.36 bps | 5.12 bps |
| 6 | CRYPTOCOM | B | 0.01 bps | 0.20 bps | 0.41 bps | 1.57 bps | 2.17 bps |
| 7 | GEMINI | C- | 3.70 bps | 29.63 bps | 49.40 bps | 79.46 bps | 82.43 bps |
| 8 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.27 bps | 0.64 bps |
| 9 | GATEIO | B | 0.04 bps | 0.25 bps | 0.45 bps | 1.28 bps | 1.60 bps |
| 10 | DERIBIT | C- | 6.55 bps | 7.59 bps | 8.65 bps | 102.34 bps | 236.88 bps |
| 11 | BULLISH | A | 0.21 bps | 0.32 bps | 0.37 bps | 0.40 bps | 0.40 bps |
| 12 | COINBASE | C+ | 2.72 bps | 4.29 bps | 6.32 bps | 10.25 bps | 11.10 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.02 bps | 0.05 bps |
| 14 | OKEX | A- | 0.01 bps | 0.02 bps | 0.03 bps | 0.37 bps | 0.76 bps |
| 15 | KRAKEN | B- | 0.86 bps | 1.06 bps | 1.19 bps | 2.22 bps | 3.38 bps |
| 16 | KUCOIN | B+ | 0.01 bps | 0.02 bps | 0.03 bps | 0.44 bps | 0.96 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | BITMEX | C | 4.80 bps | 6.22 bps | 6.59 bps | 7.17 bps | 7.38 bps |
| 2 | UPBIT | C- | 29.94 bps | 36.71 bps | 42.12 bps | 56.35 bps | 84.89 bps |
| 3 | BITGET | B+ | 0.00 bps | 0.01 bps | 0.03 bps | 0.19 bps | 0.30 bps |
| 4 | BITSTAMP | C | 1.12 bps | 1.18 bps | 1.44 bps | 3.92 bps | 6.88 bps |
| 5 | BITFINEX | B- | 1.18 bps | 1.19 bps | 1.22 bps | 1.68 bps | 2.56 bps |
| 6 | CRYPTOCOM | B | 0.01 bps | 0.10 bps | 0.20 bps | 0.79 bps | 1.09 bps |
| 7 | GEMINI | C- | 1.85 bps | 14.81 bps | 24.70 bps | 39.73 bps | 41.21 bps |
| 8 | BYBITSPOT | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.14 bps | 0.32 bps |
| 9 | GATEIO | B | 0.02 bps | 0.13 bps | 0.23 bps | 0.64 bps | 0.80 bps |
| 10 | DERIBIT | C- | 3.27 bps | 3.79 bps | 4.33 bps | 51.17 bps | 118.44 bps |
| 11 | BULLISH | A | 0.10 bps | 0.16 bps | 0.18 bps | 0.20 bps | 0.20 bps |
| 12 | COINBASE | C+ | 1.36 bps | 2.15 bps | 3.16 bps | 5.13 bps | 5.55 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.01 bps | 0.03 bps |
| 14 | OKEX | A- | 0.01 bps | 0.01 bps | 0.02 bps | 0.19 bps | 0.38 bps |
| 15 | KRAKEN | B- | 0.43 bps | 0.53 bps | 0.60 bps | 1.11 bps | 1.69 bps |
| 16 | KUCOIN | B+ | 0.01 bps | 0.01 bps | 0.02 bps | 0.22 bps | 0.48 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | BITMEX | C | 7.84 bps | 9.59 bps |
| 2 | UPBIT | C- | 18.30 bps | 59.88 bps |
| 3 | BITGET | A- | 0.00 bps | 0.00 bps |
| 4 | BITSTAMP | C | 1.97 bps | 2.24 bps |
| 5 | BITFINEX | B- | 0.71 bps | 2.36 bps |
| 6 | CRYPTOCOM | B+ | 0.04 bps | 0.01 bps |
| 7 | GEMINI | C- | 13.79 bps | 3.70 bps |
| 8 | BYBITSPOT | A- | 0.00 bps | 0.01 bps |
| 9 | GATEIO | B | 0.06 bps | 0.04 bps |
| 10 | DERIBIT | C- | 1.74 bps | 6.55 bps |
| 11 | BULLISH | A | 0.14 bps | 0.21 bps |
| 12 | COINBASE | C+ | 1.06 bps | 2.72 bps |
| 13 | BINANCE | A | 0.00 bps | 0.00 bps |
| 14 | OKEX | B+ | 0.00 bps | 0.01 bps |
| 15 | KRAKEN | B- | 0.54 bps | 0.86 bps |
| 16 | KUCOIN | B | 0.00 bps | 0.01 bps |
Order book balance analysis - closer to 1.0 is more balanced
| # | Exchange | Grade | Avg Ratio @$1K | Std Dev |
|---|---|---|---|---|
| 1 | BITMEX | C+ | 0.366 | 0.324 |
| 2 | UPBIT | A | 1.000 | 0.000 |
| 3 | BITGET | B+ | 1.000 | 0.000 |
| 4 | BITSTAMP | A | 1.000 | 0.000 |
| 5 | BITFINEX | A+ | 1.000 | 0.000 |
| 6 | CRYPTOCOM | A- | 1.000 | 0.000 |
| 7 | GEMINI | C | 1.000 | 0.000 |
| 8 | BYBITSPOT | A- | 1.000 | 0.000 |
| 9 | GATEIO | C- | 1.000 | 0.000 |
| 10 | DERIBIT | A | 1.000 | 0.000 |
| 11 | BULLISH | C- | 1.000 | 0.000 |
| 12 | COINBASE | C | 1.000 | 0.000 |
| 13 | BINANCE | C | 1.000 | 0.000 |
| 14 | OKEX | B | 1.000 | 0.000 |
| 15 | KRAKEN | A+ | 1.000 | 0.000 |
| 16 | KUCOIN | A- | 1.000 | 0.000 |
How concentrated liquidity is near the mid-price - lower is better
| # | Exchange | Grade | Fragmentation @$1K |
|---|---|---|---|
| 1 | BITMEX | C | 274.6557 |
| 2 | UPBIT | B | 681.5657 |
| 3 | BITGET | A+ | 999.6586 |
| 4 | BITSTAMP | B | 930.0843 |
| 5 | BITFINEX | A- | 993.5771 |
| 6 | CRYPTOCOM | C+ | 981.6814 |
| 7 | GEMINI | C- | 721.8457 |
| 8 | BYBITSPOT | A- | 1000.0000 |
| 9 | GATEIO | C+ | 964.8100 |
| 10 | DERIBIT | C | 425.7114 |
| 11 | BULLISH | C- | 543.3733 |
| 12 | COINBASE | C- | 541.7217 |
| 13 | BINANCE | A+ | 999.9700 |
| 14 | OKEX | A | 999.5033 |
| 15 | KRAKEN | B+ | 748.6967 |
| 16 | KUCOIN | A | 999.9417 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).