Bybit vs Kraken Futures Comparison

Fees, liquidity, funding and safety side by side Updated

Live · updated
Trade on Bybit Trade on Kraken
24h perp volume · #5 vs #14 of 21 $10.36Bvs$696.9M Open interest · #2 vs #16 of 20 $12.77Bvs$500.8M Liquidations (24h) $18.9Mvs– Perpetual markets 245vs106 94 shared Taker fee 0.055%vs0.05% Max leverage 125xvs50x

Bybit or Kraken: the short answer

Bybit8 of 10Best for deeper BTC books, more volume and cheaper long fundingKraken2 of 10Best for lower taker fees and more licences

Where each coin trades more

The 12 biggest coins listed on both · share of their combined 24h volume

Coin Bybit Share of 24h volume50% Kraken
BTC$3.90B92%8%$354.7M
ETH$1.86B95%5%$100.8M
SOL$389.1M89%11%$47.9M
SOXL$383.2M100%0%$209K
ZEC$276.3M86%14%$45.5M
XRP$261.3M96%4%$10.4M
NEAR$205.2M95%5%$11.8M
MNT$185.8M100%0%$487
HYPE$132.5M79%21%$34.7M
XAU$132.5M97%3%$4.1M
ENA$97.7M96%4%$4.0M
SNDK$90.0M99%1%$488K
Bybit leads on all 12 coins · 93% of these coins' volume is on BybitHover a row for details

BTC funding on Bybit vs Kraken

Last 90 days · 8h equivalent · against the median of every tracked venue

Bybit 90d average+0.0043%
Kraken 90d average+0.0067%
$10K long, 90 days$116 vs $181
Days Bybit cheaper54 of 90

The same market on each venue

One perpetual, both order books · Bybit has the deeper book

BTC/USDT Bybit Share or difference50% Kraken
Price$80,9880.105% apart$80,903
24h volume$3.70B92%8%$325.0M
Open interest$5.05B96%4%$205.7M
Depth ±1%$50.5M96%4%$2.1M
Funding (8h)+0.0100%Longs pay less on Bybit+0.0114%
Long / short1.04Longs lead on Bybit · Shorts lead on Kraken0.97
Liquidations 24h$4.4M100%0%$0

Funding is an 8-hour equivalent; the lower rate is cheaper for longs. Depth is order book liquidity within 1% of the price.

Bybit vs Kraken head to head

Fees, leverage and licences from each venue's published terms · volume and funding live · the better figure is ticked

Feature BybitTrade KrakenTrade
Fees
Maker fee 0.02% 0.02%
Taker fee 0.055% 0.05%
Taker fee with referral code 0.055% 0.0425%
Referral code – h2p3c4sb15% fee rebate · $20 in BTC welcome bonus
Markets and liquidity · live
Perpetuals volume (24h)$10.36B$696.9M
Open interest$12.77B$500.8M
Liquidations (24h)$18.9M–
Options volume (24h)$1.25BNo options
Perpetual markets245106
Funding now · 8h equivalent
BTC funding rate+0.0100%-0.0066%
ETH funding rate+0.0100%-0.0015%
SOL funding rate+0.0096%-0.0221%
XRP funding rate+0.0100%+0.0034%
Trading
Maximum leverage 125x 50x
Contract types USDT & USDC Settled USDC and USDT
Spot assets 1,800 369
Platform type Centralized Centralized
Trust and access
Licences and registrations 4CySEC (Cyprus), VARA (Dubai), FSA (Kazakhstan), and VASP (Georgia) 14Tier-1 Regulators including FCA (UK), BaFin (Germany), CySEC (Cyprus), DASP (France), MSB (USA & Canada), AUSTRAC (Australia), and 8 more
Proof of reserves Yes Check Yes Check
Countries served 160+ 150+
Users 67 Million 15 Million
Headquarters Dubai, United Arab Emirates United Arab Emirates
Coinperps score
Overall 9.5/10 8/10
Depth & liquidity 9.5 7
Trading fees 9 8.5
Assets & features 10 8
Regulation 9 9

Bybit or Kraken: which should you choose?

Choose Bybit if

  • You place large ordersBTC depth ±1%: $50.5M vs $2.1M
  • You want the busiest books24h volume: $10.36B vs $696.9M
  • You hold longs for days or weeksBTC funding, 90d avg: +0.0043% vs +0.0067%
  • You trade altcoinsPerpetual markets: 245 vs 106
  • You also buy and hold spotSpot assets: 1,800 vs 369
  • You use high leverageMax leverage: 125x vs 50x
  • You want deep positioning to trade againstOpen interest: $12.77B vs $500.8M
  • You want the higher-rated venue overallCoinperps score: 9.5 vs 8
Bybit review Trade on Bybit

Choose Kraken if

  • You trade often with market ordersTaker fee: 0.05% vs 0.055%
  • Regulation matters to youLicences: 14 vs 4
Kraken review Trade on Kraken

Bybit vs Kraken right now

Bybit traded $10.36B in perpetual futures over the last 24 hours, 15× Kraken's $696.9M. Bybit also holds more open interest, $12.77B against $500.8M. On BTC, Bybit's order book holds $50.5M within 1% of the price against $2.1M on Kraken, so large orders move the price less there. Over the last 90 days BTC funding averaged +0.0043% per 8 hours on Bybit and +0.0067% on Kraken: a $10,000 long held throughout paid about $116 on Bybit and $181 on Kraken. The two list 94 of the same coins; 74 trade only on Bybit and 8 only on Kraken.

Comparison by Coinperps Research · updated 13 Oct 2026

Bybit vs Kraken FAQ

Live answers use both venues' perpetual markets · updated

Is Bybit or Kraken better for futures trading?

Bybit scores higher, 9.5 against 8 out of 10. Bybit leads on depth and liquidity (9.5 vs 7) and trading fees (9 vs 8.5) and assets and features (10 vs 8). The live panels on this page show which one has more volume, deeper books and cheaper funding right now. How we score exchanges.

Which has lower fees, Bybit or Kraken?

Bybit charges 0.02% maker and 0.055% taker on perpetual futures at the base tier; Kraken charges 0.02% and 0.05%. Opening and closing a $10,000 position with market orders costs about $11.00 on Bybit and $10.00 on Kraken, so Kraken is cheaper for takers. The Kraken referral code h2p3c4sb adds a 15% fee rebate, which brings its taker fee to 0.0425%. Both cut fees at higher VIP tiers. Funding payments are separate and go between traders.

Which has more trading volume, Bybit or Kraken?

Bybit has more perpetual futures volume: $10.36B in the last 24 hours against $696.9M on Kraken, 15× as much. Open interest is $12.77B on Bybit and $500.8M on Kraken. Compare open interest across exchanges.

Does Bybit or Kraken offer higher leverage?

Bybit offers more, up to 125x against 50x on Kraken. Smaller markets have lower caps on both, and the limit falls as position size grows. At 125x a move of about 0.8% against you is enough to liquidate a position.

Is Bybit or Kraken safer?

Bybit lists 4 licences and registrations, including CySEC (Cyprus), VARA (Dubai), FSA (Kazakhstan). Kraken lists 14, including Tier-1 Regulators including FCA (UK), BaFin (Germany), CySEC (Cyprus). Both publish proof of reserves, so users can check that customer assets are backed. Rules differ by country, so check that the exchange serves yours before you sign up.

Which has lower funding rates, Bybit or Kraken?

Over the last 90 days BTC funding averaged +0.0043% per 8 hours on Bybit and +0.0067% on Kraken, so longs paid less on Bybit. Bybit was cheaper on 54 of 90 days. Funding goes between traders, and when it is negative shorts pay longs instead. Live funding rates on every exchange.

Which lists more perpetual futures, Bybit or Kraken?

Bybit lists more: 245 live perpetual markets against 106. 94 coins trade on both; 1000PEPE, CL, SKHYNIX and 71 more only on Bybit; PEPE, PUMP, FET and 5 more only on Kraken.

Which has better liquidity, Bybit or Kraken?

Bybit has the deeper BTC order book: $50.5M of bids and asks within 1% of the price against $2.1M on Kraken. Deeper books mean less slippage on large market orders. Bybit also trades 15× the 24h volume.

Are there Bybit and Kraken referral codes?

Kraken: use h2p3c4sb for a 15% fee rebate · $20 in btc welcome bonus (offer and terms).

Where are Bybit and Kraken based?

Bybit is headquartered in Dubai, United Arab Emirates and reports 67 million users. Kraken is headquartered in United Arab Emirates and reports 15 million users.

Compare Bybit with other exchanges

Bybit vs BinanceBybit vs BingXBybit vs BitgetBybit vs Coinbase FuturesBybit vs Gate.ioBybit vs MEXCBybit vs OKXBybit vs Hyperliquid

Compare Kraken with other exchanges

Kraken vs BinanceKraken vs BingXKraken vs BitgetKraken vs Gate.ioKraken vs HyperliquidKraken vs Coinbase FuturesKraken vs MEXCKraken vs OKX

Live data from both venues' perpetual markets, refreshed every few minutes. Fees are base tier and change with VIP level. Ratings are Coinperps' own. Not financial advice. All 45 comparisons · Methodology