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 | OKEX | A | A- | A- | A- | B | - |
| 2 | GATEIO | A- | B | B | B | C | - |
| 3 | KUCOIN | B+ | B+ | B+ | B | A- | - |
| 4 | BITMEX | C- | C | C | C- | C- | - |
| 5 | BYBITSPOT | A+ | B+ | B+ | B+ | A- | - |
| 6 | CRYPTOCOM | A- | B+ | B+ | B+ | A | - |
| 7 | BINANCE | A+ | A | A | A | C | - |
| 8 | BITSTAMP | C+ | C | C | C | A+ | - |
| 9 | GEMINI | C- | C- | C- | C- | C+ | - |
| 10 | BITGET | A | A- | A- | A- | A | - |
| 11 | KRAKEN | C+ | B | B | C+ | A | - |
| 12 | DERIBIT | C- | C- | C- | C- | B+ | - |
| 13 | BITFINEX | B | C+ | C+ | B- | A+ | - |
| 14 | UPBIT | C | C- | C- | C | A+ | - |
| 15 | COINBASE | C | C+ | C+ | B- | C | - |
| 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 | - | - | 3005.0% | $400 |
| 2 | GATEIO | - | - | 1843.0% | $2934 |
| 3 | BYBITSPOT | - | - | 1763.0% | $1057 |
| 4 | OKEX | - | - | 1221.0% | $1833 |
| 5 | BITGET | - | - | 942.0% | $1322 |
| 6 | CRYPTOCOM | - | - | 620.0% | $1129 |
| 7 | KUCOIN | - | - | 286.0% | $533 |
| 8 | BITFINEX | - | - | 185.0% | $2615 |
| 9 | BULLISH | - | - | 91.0% | $3306 |
| 10 | KRAKEN | - | - | 20.0% | $1645 |
| 11 | COINBASE | - | - | 12.0% | $169 |
| 12 | DERIBIT | - | - | 7.0% | $487 |
| 13 | BITSTAMP | - | - | 4.0% | $2696 |
| 14 | UPBIT | - | - | 1.0% | $1147 |
| 15 | BITMEX | - | - | - | $13 |
| 16 | GEMINI | - | - | - | $358 |
Bid-ask spreads at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | OKEX | A- | 0.01 bps | 0.02 bps | 0.02 bps | 0.15 bps | 0.35 bps |
| 2 | GATEIO | B | 0.02 bps | 0.13 bps | 0.29 bps | 1.31 bps | 1.77 bps |
| 3 | KUCOIN | B+ | 0.01 bps | 0.02 bps | 0.03 bps | 0.50 bps | 1.10 bps |
| 4 | BITMEX | C | 9.05 bps | 12.60 bps | 13.51 bps | 16.30 bps | 18.24 bps |
| 5 | BYBITSPOT | B+ | 0.01 bps | 0.01 bps | 0.02 bps | 0.20 bps | 0.57 bps |
| 6 | CRYPTOCOM | B+ | 0.00 bps | 0.07 bps | 0.15 bps | 0.83 bps | 1.42 bps |
| 7 | BINANCE | A | 0.00 bps | 0.00 bps | 0.01 bps | 0.04 bps | 0.06 bps |
| 8 | BITSTAMP | C | 0.89 bps | 0.93 bps | 1.24 bps | 4.13 bps | 9.17 bps |
| 9 | GEMINI | C- | 1.85 bps | 4.72 bps | 9.35 bps | 38.57 bps | 47.78 bps |
| 10 | BITGET | A- | 0.00 bps | 0.00 bps | 0.00 bps | 0.05 bps | 0.16 bps |
| 11 | KRAKEN | B | 0.64 bps | 0.85 bps | 1.05 bps | 2.54 bps | 4.15 bps |
| 12 | DERIBIT | C- | 4.75 bps | 5.91 bps | 9.57 bps | 71.18 bps | 102.05 bps |
| 13 | BITFINEX | C+ | 2.19 bps | 2.21 bps | 2.30 bps | 3.39 bps | 5.20 bps |
| 14 | UPBIT | C- | 59.72 bps | 66.47 bps | 72.32 bps | 99.91 bps | 135.03 bps |
| 15 | COINBASE | C+ | 2.44 bps | 2.87 bps | 3.48 bps | 6.85 bps | 7.50 bps |
| 16 | BULLISH | A | 0.21 bps | 0.32 bps | 0.35 bps | 0.40 bps | 0.41 bps |
Expected slippage at different order sizes (in basis points)
| # | Exchange | Grade | @$1K | @$5K | @$10K | @$50K | @$100K |
|---|---|---|---|---|---|---|---|
| 1 | OKEX | A- | 0.01 bps | 0.01 bps | 0.01 bps | 0.08 bps | 0.17 bps |
| 2 | GATEIO | B | 0.01 bps | 0.07 bps | 0.15 bps | 0.65 bps | 0.88 bps |
| 3 | KUCOIN | B+ | 0.01 bps | 0.01 bps | 0.01 bps | 0.25 bps | 0.55 bps |
| 4 | BITMEX | C | 4.53 bps | 6.30 bps | 6.75 bps | 8.15 bps | 9.12 bps |
| 5 | BYBITSPOT | B+ | 0.01 bps | 0.01 bps | 0.01 bps | 0.10 bps | 0.29 bps |
| 6 | CRYPTOCOM | B+ | 0.00 bps | 0.03 bps | 0.07 bps | 0.42 bps | 0.71 bps |
| 7 | BINANCE | A | 0.00 bps | 0.00 bps | 0.00 bps | 0.02 bps | 0.03 bps |
| 8 | BITSTAMP | C | 0.44 bps | 0.46 bps | 0.62 bps | 2.06 bps | 4.58 bps |
| 9 | GEMINI | C- | 0.93 bps | 2.36 bps | 4.67 bps | 19.29 bps | 23.89 bps |
| 10 | BITGET | A- | 0.00 bps | 0.00 bps | 0.00 bps | 0.03 bps | 0.08 bps |
| 11 | KRAKEN | B | 0.32 bps | 0.42 bps | 0.52 bps | 1.27 bps | 2.07 bps |
| 12 | DERIBIT | C- | 2.38 bps | 2.95 bps | 4.79 bps | 35.59 bps | 51.02 bps |
| 13 | BITFINEX | C+ | 1.10 bps | 1.10 bps | 1.15 bps | 1.70 bps | 2.60 bps |
| 14 | UPBIT | C- | 29.86 bps | 33.24 bps | 36.16 bps | 49.95 bps | 67.52 bps |
| 15 | COINBASE | C+ | 1.22 bps | 1.43 bps | 1.74 bps | 3.43 bps | 3.75 bps |
| 16 | BULLISH | A | 0.11 bps | 0.16 bps | 0.18 bps | 0.20 bps | 0.20 bps |
Standard deviation of spreads - lower is more consistent
| # | Exchange | Grade | Std Dev @$1K | Avg Spread @$1K |
|---|---|---|---|---|
| 1 | OKEX | A- | 0.00 bps | 0.01 bps |
| 2 | GATEIO | B | 0.05 bps | 0.02 bps |
| 3 | KUCOIN | B | 0.00 bps | 0.01 bps |
| 4 | BITMEX | C- | 17.31 bps | 9.05 bps |
| 5 | BYBITSPOT | B+ | 0.00 bps | 0.01 bps |
| 6 | CRYPTOCOM | B+ | 0.02 bps | 0.00 bps |
| 7 | BINANCE | A | 0.00 bps | 0.00 bps |
| 8 | BITSTAMP | C | 1.24 bps | 0.89 bps |
| 9 | GEMINI | C- | 10.18 bps | 1.85 bps |
| 10 | BITGET | A- | 0.00 bps | 0.00 bps |
| 11 | KRAKEN | C+ | 2.18 bps | 0.64 bps |
| 12 | DERIBIT | C- | 2.60 bps | 4.75 bps |
| 13 | BITFINEX | B- | 0.62 bps | 2.19 bps |
| 14 | UPBIT | C | 21.98 bps | 59.72 bps |
| 15 | COINBASE | B- | 0.87 bps | 2.44 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 | OKEX | B | 1.000 | 0.000 |
| 2 | GATEIO | C | 1.000 | 0.000 |
| 3 | KUCOIN | A- | 1.000 | 0.000 |
| 4 | BITMEX | C- | 0.809 | 0.711 |
| 5 | BYBITSPOT | A- | 1.000 | 0.000 |
| 6 | CRYPTOCOM | A | 1.000 | 0.000 |
| 7 | BINANCE | C | 1.000 | 0.000 |
| 8 | BITSTAMP | A+ | 1.000 | 0.000 |
| 9 | GEMINI | C+ | 1.000 | 0.000 |
| 10 | BITGET | A | 1.000 | 0.000 |
| 11 | KRAKEN | A | 1.000 | 0.000 |
| 12 | DERIBIT | B+ | 1.000 | 0.000 |
| 13 | BITFINEX | A+ | 1.000 | 0.000 |
| 14 | UPBIT | A+ | 1.000 | 0.000 |
| 15 | COINBASE | C | 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 | OKEX | A | 999.9514 |
| 2 | GATEIO | C | 985.1471 |
| 3 | KUCOIN | A- | 999.9514 |
| 4 | BITMEX | C+ | 400.5257 |
| 5 | BYBITSPOT | A | 1000.0000 |
| 6 | CRYPTOCOM | C+ | 996.3186 |
| 7 | BINANCE | A+ | 999.2171 |
| 8 | BITSTAMP | B+ | 980.0886 |
| 9 | GEMINI | C- | 735.5943 |
| 10 | BITGET | A+ | 999.9243 |
| 11 | KRAKEN | B | 703.8129 |
| 12 | DERIBIT | C- | 660.3014 |
| 13 | BITFINEX | A- | 978.3771 |
| 14 | UPBIT | B | 809.1629 |
| 15 | COINBASE | C | 468.5614 |
| 16 | BULLISH | C- | 537.5300 |
Data updated hourly. Grades range from A+ (best) to C- (worst). Institutional grades are calibrated for large order sizes ($100k+).