Without any doubt, Binance Futures is one of the best options available out there to trade crypto derivatives. But there are reasons why one might not want to use it and look for other options. One such reason being Binance doesn’t allow you to trade derivatives under their Binance USA domain. As a result, if you wish to trade derivatives, you have to look for an alternative.
Luckily, there are a lot of other alternatives available in the market which offer you the best features and rates for trading crypto derivatives. So let’s go ahead and have a quick look at them:
Top Alternatives to Binance Futures Exchange
Bybit is one of the fastest growing cryptocurrency exchanges out there. The platform makes it super easy to trade in crypto. Plus, it offers you different trading opportunities.
Like you can enjoy spot trading derivatives trading, and there is the ByFi Center which can be used for staking coins and engaging with DeFi products.
Under derivatives trading, you can hedge, speculate or increase leverage across perpetual and futures contract types.
Also, it offers you some of the great features. Like one single BTC trading account can be used to trade across perpetual and futures contracts.
ByBit futures contract will share the existing insurance fund built by the BTCUSD perpetual contract. Plus, you can choose to hold either a one-way position or hedging long and short positions.
Talking about the trading fees, ByBit takes taker fees of 0.075% or maker rebates 0.025%. Also, you have to pay a settlement fee of 0.05%. Also, it offers you maximum leverage of 100x.
FTX is another popular crypto trading exchange that you can try out. The trading platform allows you both to derivatives product and spot trading. Also, it is one of the world’s largest digital currency exchange platforms.
The best part of FTX is that it comes with plenty of features that both experienced and newbie traders would love to use.
On the platform, you can trade over 130+ cryptocurrencies. Also, newer coins keep getting added to the platform. Also, you can deposit funds in 20 different fiat currencies with no fees.
For futures, it offers over 250 perpetual and quarterly futures markets. Plus, you can apply the leverage of up to 101x on most of the platform’s derivatives contracts. Also, on FTX, you will find futures for lesser known cryptocurrencies with low market caps.
Talking about the FTX fees, it has a tiered structure for both futures and spot markets. The minimum maker fee and taker fee it charges are 0.020% and 0.070%, respectively. However, as you trade with higher volumes, the taker and maker fees will get reduced.
Bitmex is another popular peer to peer trading platform. The platform offers you leveraged contracts that are bought and sold in cryptocurrency. Also, it allows you to trade with a high amount of leverage.
The thing with the platform is that, unlike other crypto exchanges, the exchange has its main focus on cryptocurrencies, derivatives trading like futures, and margin trading.
Bitmex operates with Bitcoin as a base currency. It doesn’t work with fiat currencies at all. As a result, it doesn’t charge any fee for depositing funds into a Bitmex account. Or there are any charges on the withdrawals.
It offers you a leverage of a minimum of 100x and charges a maker fee of 0.0250%, a taker fee of 0.0750%. Also, there is a settlement fee of 0.0500%. Moreover, you can trade more with a variety of contract types.
However, the only drawback with Bitmex is that it is not available in the United States. But if you are not from the United States, you can use the platform without any issues.
Phemex is one of the best Binance futures alternatives to trade crypto derivatives. With the platform, you can enjoy both spot trading and contract trading.
Under spot trading, you can trade over 53+ crypto pairs like BTC, ETH, and many others with zero trading fees.
Also, under contract trading, you can trade crypto derivatives with up to 100x leverage. Also, it includes more than 39 contract pairs such as BTC/USD, ETH/USD, and others. Also, you can trade using conditional orders, take profit, stop loss, and many more.
Phemex also allows you to earn crypto by holding your assets. It lets you earn up to 8.5% APY through fixed and flexible saving options. Also, thanks to the flexible nature, you can withdraw your funds instantly or deposit your funds in no time.
As far as the fees are concerned, different contracts have different fees. For instance, if you trade BTCUSD perpetual, there is a taker fee of 0.075% and a maker fee of -0.025%. For more info, you can check out the Phemex contract trading fees structure on its site.
At the end, there is the Bitget. It is one of the best crypto trading platforms available out there. It offers you some of the best features. Like, one-click copy trading, trade without converting tokens, plus it supports USDC margin.
The platform supports both derivates and spot trading. However, it has its main focus on derivates trading. It offers you some of the trading pairs like FIL/USDT, ATOM/USDT, YFI/USDT, SUSHI/USDT, UNI/USDT, XTZ/USDT, and many others. Along with that, it offers leveraged trading to its users. The maximum leverage level for their perpetual is 100x.
Talking about the futures trading fees, it charges a maker fee of 0.02% and a taker fee of 0.06%. Also, the maker and taker fee can vary depending on the trading pair.
Also, Bridget charges withdrawal fees. The withdrawal fees depend on which cryptocurrency you are withdrawing. For instance, the BTC withdrawal fee is 0.0006, and the min withdrawal limit is 0.001.
So those were some of the best Binance futures alternatives to trade crypto derivatives. Now go ahead and check these exchanges out, compare their trading fees and features, and ensure they are operational in your region.