Binance vs Bybit for Futures Traders: Fees, Liquidation Rules, Tools

Binance vs Bybit comes down to published facts, not a winner. As of 13 Oct 2026, a regular Binance USDⓈ-M user pays 0.02% maker and 0.05% taker on USDT contracts, and a non-VIP Bybit user pays 0.02% maker and 0.055% taker on USDT perpetuals. Both exchanges trigger liquidation on the mark price, not the last price, and both try to shrink a position before closing it fully.

This page compares the two on what each exchange states in its own fee pages and help centers. It does not rank them. Your region, your account tier and the product you trade matter more than a 0.005% gap.

Binance vs Bybit fees for USDT perpetuals

Fees are charged on position value, which is quantity times executed price. A maker order rests on the book. A taker order fills immediately, and every market order is a taker order.

What the table shows:

• Maker: both list 0.02%.
• Taker: Binance lists 0.05%, Bybit 0.055%. On a $10,000 position that is $5.00 against $5.50 per taker fill.
• BNB discount: Binance lists 0.018% maker and 0.045% taker when you pay futures fees in BNB. Binance's fee FAQ says BNB must sit in the USDⓈ-M futures wallet for the discount to apply. If it is not there, the fee comes out of USDT at the normal rate.
• VIP tiers: Binance's regular tier covers users under 5,000,000 USD of 30-day futures volume. VIP 1 starts at 5,000,000 USD of volume plus 5 BNB and lists 0.018% maker and 0.05% taker. Bybit says non-VIP rates apply in its table and points to the My Fee Rates page for your own rates.

A round trip means an entry and an exit. If both fills are taker fills on $10,000, that is $10.00 on Binance and $11.00 on Bybit at the listed regular rates. Using limit orders for entry or exit moves fills toward the maker rate. Fees also feed your risk maths, so put them into the position size calculator when your stop is tight.

Bybit states that the trading fee is deducted from the account balance and does not reduce the initial margin of the order. Bybit also lists a 0.05% fixed settlement fee for expiry contracts and for positions closed by a delisting. Binance's fee page covers USDC contracts in separate columns; check them if you trade those.

How liquidation works on each exchange

Both exchanges state that liquidation is triggered by the mark price. Binance says liquidation occurs when the mark price hits the liquidation price, and that last price only sets realized PnL. Bybit says the same and adds that the liquidation price may not be visible on a chart that shows last traded price by default. The mark price vs last price guide covers the reason.

Differences in the help pages:

• Binance cancels open orders, places one IOC-style order to reduce the position, and stops if the remaining assets cover the required margin. A leftover becomes a bankrupt position that the Futures Insurance Fund takes over. If the fund cannot cover the losses, auto-deleveraging closes the bankrupt position and some opposing positions. A liquidation clearance fee is deducted from the assets backing the position. The rate is in Binance's trading rules, and the fee does not apply to bankrupt positions.
• Bybit (isolated margin) cancels orders that add size. If the position sits above the lowest risk limit tier, it submits an IOC order to bring it down to the lower tier's value. If that is not enough, the position is closed at the bankruptcy price. Bybit states that it does not charge a liquidation fee on perpetual and futures trading.
• Binance also warns that a fast market can fill you worse than the calculated liquidation price. Its example is a short liquidated at 17,100 USDT against a 17,006 USDT liquidation price.

To estimate where your own liquidation sits, use the liquidation price calculator and then compare it with the number your exchange shows.

Mark price formulas

The mark price formulas have the same shape on both exchanges: a median of three prices. The inputs and windows differ.

Binance averages the bid-ask basis over 30 one-second points. Bybit uses a 2.5-minute window. Bybit adds that it falls back to its last traded price if the index price is abnormal or there is not enough data for the moving average. Binance's page notes that its TradFi perpetuals use a 60-second moving average instead.

Tools, order types and margin modes

• Binance lists 11 futures order types in its support center, including limit, market, stop-limit, stop-market, trailing stop, post-only, scaled and TWAP orders. For conditional orders and limit TP/SL orders you can choose the mark price or the last price as the trigger. Margin mode is cross or isolated, and the position mode can be one-way or hedge.
• Bybit supports isolated, cross and portfolio margin in its Unified Trading Account, and one-way or hedge position mode. Its getting-started guide says orders default to cross margin with 10x leverage in one-way mode. It offers a mark price chart view, trailing stops and an MMR Close order that closes a position when your maintenance margin ratio reaches a level you set. Our guide covers how to set take-profit and stop-loss on Bybit.

Both offer post-only orders, and Bybit also documents reduce-only for closing orders. The step-by-step Binance futures guide walks through the order panel.

Availability depends on where you live

Both exchanges restrict some jurisdictions, and the lists change. Bybit's Service Restricted Countries page names the United States, Canada, Hong Kong, Singapore and the Chinese Mainland among others. A Bybit announcement dated 21 Sep 2026 says it no longer accepts new UK registrations, and that accounts registered with UK residency face restrictions from 21 Oct 2026. Binance's blog says US residents cannot access Binance.com. Read each exchange's current terms for your country before you open an account.

What to check before you pick one

• Your country is supported, for both the exchange and the futures product.
• Your real fee tier on the My Fee Rates page or the Binance fee page, not the headline rate.
• The margin mode and position mode your strategy needs.
• The symbol you trade. Fee schedules and tiers can differ by contract.
• Where the exchange shows the mark price on the chart, so you can see the level that liquidates you.

For the wider picture, see the Trader's Handbook. If you hold BNB for the fee discount, BNB explained covers the token itself.

FAQ

Which is cheaper, Binance or Bybit futures? On the regular and non-VIP USDT perpetual rates published as of 13 Oct 2026, makers pay 0.02% on both and takers pay 0.05% on Binance against 0.055% on Bybit. Your own tier, BNB discount and the contract you trade change the result.

Do Binance and Bybit liquidate on the last price? No. Both state that the mark price triggers liquidation. The last price is what the chart shows by default, so the two can disagree.

Does Bybit charge a liquidation fee on perpetuals? Bybit's fees page says it does not charge a liquidation fee for perpetual and futures trading. Binance deducts a liquidation clearance fee, with the rate in its trading rules.

Can I use either exchange from the UK or the US? Both restrict some jurisdictions. Bybit lists the US as excluded and has announced UK restrictions from 21 Oct 2026. Binance states that US residents cannot use Binance.com. Check each exchange's current terms.

Sources: Binance USDⓈ-M fee page, Binance futures fee FAQ, Binance liquidation protocols, Binance mark price FAQ, Binance order types, Bybit futures fees, Bybit fees overview, Bybit liquidation process, Bybit mark price, Bybit getting started with futures, Bybit restricted countries, Bybit UK notice.