BitMEX vs Bybit

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BitMEX vs Bybit Comparison Table 2026
BitMEX	Bybit
Review 3.2	Review 3.1
Traders from US not accepted See available crypto brokers	Traders from US not accepted See available crypto brokers
BitMEX is a crypto exchange and derivatives trading platform, launched in 2014. The firm offers a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offers amongst the largest market liquidity of any cryptocurrency exchange.	Bybit is an established crypto exchange aimed at online traders. Clients can speculate on leading tokens like Bitcoin, access crypto staking and loans, or trade NFTs using the firm's digital marketplace. Millions of users have signed up with the firm since it launched in 2018.
Customer Reviews
5 Based on 7 BitMEX customer reviews
Bonus Offer
	Up To 4030 USDT Welcome Bonus
Comment by Reviewer
"Active traders who want access to a good range of crypto derivatives will be intrigued by BitMEX's offering, with Perpetual Contracts available. The proof of reserves, checked more regularly than most of the industry, provides a degree of reassurance "	"Bybit is a good choice for active traders who want a fast and straightforward way to buy crypto tokens and trade crypto derivatives."
Pros
BitMEX invented the perpetual swap in 2016 and has been running a single-focus derivatives exchange ever since. That depth of institutional knowledge — covering how the platform handles liquidations, funding mechanics, and order book management under extreme conditions — is genuinely difficult for generalist exchanges building derivatives as a secondary product to replicate. BitMEX operates as a true peer-to-peer exchange with no internal market makers and no trading against users — every trade matches between two external counterparties on a transparent order book. For traders concerned about conflicts of interest between an exchange and its clients, that structural distinction carries real weight, particularly following several high-profile industry scandals involving proprietary trading desks operating alongside retail flow. Most exchanges publish proof of reserves at best monthly, and some only do so under external pressure. BitMEX publishes Proof of Reserves and Proof of Liabilities data twice per week, with figures that are independently verifiable on-chain. Where exchange solvency has become a genuine due diligence question rather than a theoretical concern, that publication frequency and the ring-fenced, non-lent fund structure behind it represent a transparency standard most competitors haven't matched.	Dual price mechanism reducing unfair liquidations Increased profit potential with leverage up to 1:100 24/7 customer help from a multilingual service team No limits on trades and withdrawals on any account Best-in-class market depth, minimum price impact trade execution Industry-leading cold wallet strengthens security and improves the safety of funds A useful risk management tool protecting retail traders against unfavorable price fluctuations 100,000 TPS per contract which results in no overloads with an ultra-fast matching engine that is 10x the industry average Retail clients can easily swap between supported coins within accounts, take profit and stop loss, strategy alerts, and adjust orders
Cons
Every interaction with BitMEX requires crypto — deposits arrive in crypto, profits leave in crypto, and fiat conversion occurs entirely off-platform through third parties. Traders managing capital that originates or terminates in a bank account carry conversion costs, exchange rate exposure, and operational friction that simply doesn't exist on platforms with native fiat rails. The platform makes no concessions toward accessibility — the density of the interface, the non-intuitive relationship between mark price and liquidation mechanics, and the absence of guided onboarding create genuine friction for traders arriving from spot exchanges. In a market where competitors have invested heavily to reduce that friction, BitMEX's learning curve poses a meaningful attrition risk. The permanent exclusion of US residents extends beyond market size — it keeps US institutional flows, retail volume, and market-making activity permanently outside BitMEX's ecosystem. That has tangible consequences for liquidity depth on newer and thinner contracts that competitors with US access don't face to the same degree.	Bybit is not currently regulated in any country Residents of some countries are restricted from opening an account, including clients from the US
Instruments
Crypto, FX Perpetual Swaps, Equity Perpetuals	Cryptos, Futures
Demo Account
Yes	Yes
Minimum Deposit
$0.01	$0
Trading Platforms
BitMEX Web Platform AlgoTrader TradingView Quantower	MT4 TradingView
Payment Methods
Apple Pay Bitcoin Payments Credit Card Ethereum Payments Google Pay	Bitcoin Payments Credit Card Ethereum Payments Mastercard Visa Wire Transfer
Minimum Trade
Variable	0.001 Lots
Regulator
FSA
Margin Trading
Yes	Yes
STP Account
No	Yes
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	Yes
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
Yes	No
P2P Trading
Yes	Yes
Spot Trading
Yes	Yes
Mobile Apps
iOS & Android	Yes (iOS & Android)
Android App Rating
3.2	4.5
iOS App Rating
3.2	4.7
Auto Trading
BitMEX Market Maker, BotVS, and via API	Via 3rd party software
Copy Trading
No	Yes
Copy Trading Platform
	Use the Top Traders leaderboard to follow experienced crypto investors. Mirror positions on Bitcoin, Ethereum and more for a small charge.
Social Trading
Yes	No
VPS Hosting
No	Yes
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
No	No
Account Currencies
	EUR GBP TRY RUB
Cryptocurrency
BitMEX continues to offer a highly competitive crypto trading environment, with cheap $1 contracts and leverage up to 1:100. The broker’s proprietary platform offers cutting-edge trading features, including a customizable order book, a depth chart and dozens of technical indicators.	Buy dozens of crypto tokens with one click, or choose between hundreds of tokens to trade on spot markets, with more options than many alternatives. Crypto derivative products include perpetual futures and options.
Spread
-0.01% maker, 0.075% taker	Market maker, derivatives fee: 0.01%, spot fee: 0.1% Market taker: derivatives fee: 0.06%, spot fee: 0.1%
Coins
BCH BTC ETH LTC XRP TRON EOS XMR ADA DOGE BNB DOT SOL SHIB AVAX GAL NEAR SUSHI AXS	BTC ETH EOS XRP USDT BCH LINK XTZU LUNA SRM TRX RUNE THETA STRM YFI WAVES DXPX ENS USDC ADA BEL BIC REN MKR LING CN98 CAKE CAPS BUSD BTT CBX CELO BTG BUSD KLAY BNB DOT AGLA AGLD LING DOME FIU FLOKI FITFI HOT ALGO FCD APEX AXS BAT ANKR BNT BOBA ALGO FIDA FL UNI AAVE SUSHI XEM APE ATOM AVAX DOGE ETC FTM LTC MATIC SAND SWEAT DLC AXS CHZ OP OKSE ZEN ZIL ZRX ACH ACM DYDX ELT FTT HERO NEXO MKR QMALL QNT REAL TRIBE INTER FAME REN ENS ELT ELJ DICE DRIV FLOKI FLOW GENE GMX IME KRL KOK NFT LWF KMON KASTA ICX CRAFT CWAR CTC CULT DEFY DFI DICE DRIV GSTS JST GODS IZI JASMY ERTHA COMP
Crypto Lending
No	Yes
Crypto Mining
No	Yes
Crypto Staking
Yes	Yes
Auto Market Maker
Yes	No

Review	Review