Crypto Perpetual Futures Fees Compared 2026: Binance, Bybit, OKX, MEXC, Bitget & Hyperliquid
Side-by-side perpetual futures fees for 2026. Base maker/taker rates, top VIP tiers, token discounts, funding, and the real monthly cost at $100K, $1M, and $10M volume across the six biggest perp venues.
At the base tier, MEXC has the cheapest perpetual futures fees of any major venue — 0.00% maker and 0.02% taker. Binance, OKX, and Bybit cluster around 0.02% maker with a 0.05%-0.055% taker, Bitget sits slightly above them, and Hyperliquid undercuts every CEX on taker at 0.045% with no KYC. But the base rate is not what an active trader pays, so this guide runs the real numbers.
Perp fees look tiny until you multiply them by leverage and turnover. A 0.05% taker fee on a position opened at 10x leverage is effectively 0.5% of your margin every time you enter, and again when you exit. Over a month of active trading that is the single largest cost most futures traders carry — bigger than funding, bigger than slippage on liquid pairs. Getting it right is worth real money.
New to the maker/taker split? Start with our maker vs taker guide.
Base Perpetual Futures Fees (VIP 0)
These are the rates you pay on day one, before any discount, referral, or volume tier.
| Exchange | Maker | Taker | KYC required |
|---|---|---|---|
| MEXC | 0.000% | 0.020% | No (limited) |
| Hyperliquid | 0.015% | 0.045% | No |
| Binance | 0.020% | 0.050% | Yes |
| OKX | 0.020% | 0.050% | Yes |
| Bybit | 0.020% | 0.055% | Yes |
| Bitget | 0.020% | 0.060% | Yes |
MEXC’s 0% maker rate is the standout — if you trade with limit orders, you pay nothing on the maker leg. Hyperliquid has the lowest taker fee of any order-book venue that requires no identity check. The three big CEXs are nearly identical, and Bitget’s headline taker is the highest of the group before discounts.
Top VIP Tiers Compared
The picture changes at high volume. Here is the best maker/taker each venue offers at its top standard tier (institutional and market-maker programs can go lower).
| Exchange | Best VIP Maker | Best VIP Taker |
|---|---|---|
| OKX | -0.005% | 0.015% |
| Binance | 0.000% | 0.017% |
| Bybit | 0.000% | 0.018% |
| Bitget | 0.005% | 0.023% |
| Hyperliquid | 0.000% | 0.024% |
| MEXC | 0.000% | 0.020% |
OKX pays you to make liquidity at the top tier (-0.005% maker) and posts the lowest whale taker rate. Binance and Bybit are close behind. Hyperliquid’s ceiling is higher on taker because it reaches 0% maker at a much lower volume threshold ($500M in 14-day volume) than the CEXs, which suits mid-size traders more than whales.
Native Token Discounts
Every major CEX cuts your fee if you hold and pay with its token. This is the biggest lever after choosing the venue.
| Exchange | Token | Discount | Effective taker (base + token) |
|---|---|---|---|
| Binance | BNB | 10% on futures | 0.045% |
| OKX | OKB | Up to ~40% via tiers | varies |
| Bybit | — | No direct fee-pay discount | 0.055% |
| Bitget | BGB | Up to 20% | ~0.048% |
| MEXC | MX | Additional tier cuts | ~0.018% |
| Hyperliquid | HYPE (staked) | 5%-40% off tier rate | 0.027%-0.043% |
Binance’s BNB discount on futures is smaller than its 25% spot discount — 10% on the futures taker. Hyperliquid’s HYPE staking applies to the perp rate directly: a Diamond staker (500,000 HYPE) gets 40% off, pulling the base taker to 0.027%. Bybit has no token-payment discount on futures, which is why its effective rate stays higher unless you climb volume tiers or use a referral.
Real Monthly Cost: $100K Volume
Let’s put dollars on it. A trader doing $100,000 in monthly perpetual notional, 60% taker / 40% maker, base tier, no token holdings, no referral.
| Exchange | Taker cost | Maker cost | Total |
|---|---|---|---|
| MEXC | $12.00 | $0.00 | $12.00 |
| Hyperliquid | $27.00 | $6.00 | $33.00 |
| Binance | $30.00 | $8.00 | $38.00 |
| OKX | $30.00 | $8.00 | $38.00 |
| Bybit | $33.00 | $8.00 | $41.00 |
| Bitget | $36.00 | $8.00 | $44.00 |
At this level MEXC’s 0% maker and low taker make it the clear winner on raw fees, and Hyperliquid comes second. The gap between cheapest and most expensive is $32 a month — small in absolute terms but a 3.7x difference in what you hand over.
Real Monthly Cost: $1M Volume
Same 60/40 split, but now assume each trader uses the cheapest realistic discount available on their venue (token discount or a standard 20% referral where offered).
| Exchange | Setup | Total monthly fee |
|---|---|---|
| MEXC | Base + MX tier | ~$150 |
| Hyperliquid | Gold HYPE stake (20% off) | ~$264 |
| Binance | 20% referral + BNB (10%) | ~$274 |
| OKX | 20% referral + OKB tier | ~$280 |
| Bybit | 20% referral | ~$328 |
| Bitget | BGB (20%) | ~$316 |
At $1M/month the discounts do most of the work. MEXC still leads on headline fees, but liquidity and product depth start to matter — a slightly higher fee on a venue with tighter spreads can net out cheaper than a low fee on a thin book. That trade-off is covered in the liquidity section below.
Real Monthly Cost: $10M Volume
At $10M/month you qualify for mid-to-high VIP tiers on the CEXs. This is where the big three pull even with or ahead of the discount-token venues.
| Exchange | Approx VIP taker | Total monthly fee (60/40) |
|---|---|---|
| OKX | 0.030% | ~$1,900 |
| Binance | 0.030% | ~$1,950 |
| Bybit | 0.032% | ~$2,050 |
| Hyperliquid | 0.030% (w/ stake) | ~$1,980 |
| Bitget | 0.035% | ~$2,200 |
| MEXC | 0.018% | ~$1,300 |
MEXC’s structurally low rates keep it cheapest even at scale, but few whales run their full book there because of liquidity limits on large altcoin perps. Among the deep-liquidity venues, OKX and Binance are effectively tied, and Hyperliquid stays competitive thanks to HYPE staking.
Funding Rates: The Cost That Isn’t a Fee
Trading fees are only half the story on perpetuals. Funding — the periodic payment between longs and shorts that keeps the perp price near spot — can dwarf your fee bill if you hold positions.
All six venues use the same basic mechanism: a base interest component plus a premium tied to how far the perp trades from the index. Rates are similar across exchanges because arbitrage keeps them aligned. The differences that matter:
- Settlement frequency. Binance, Bybit, OKX, Bitget, and MEXC settle every 8 hours. Hyperliquid settles hourly at 1/8 the rate, which smooths out the payment and reduces “funding sniping.”
- Direction. Funding is a wash if you are flat, a cost if you hold the crowded side, and income if you hold the other side. It is not an exchange fee — it is a payment between traders.
If you scalp intraday and close before funding, it barely touches you. If you swing-hold leveraged positions for days, funding can exceed your trading fees. Our funding rate arbitrage guide covers how to turn it into income instead of a cost.
Liquidity and Execution: Why the Cheapest Fee Isn’t Always Cheapest
A 0.02% fee on a venue where your order slips 0.1% is more expensive than a 0.05% fee on a book deep enough to fill you at the quote. On liquid BTC and ETH perps, all six venues have tight spreads and the fee is the dominant cost. Off the majors, it splits:
- Binance, OKX, Bybit carry the deepest order books across the widest range of perp markets. Large orders on mid-cap perps fill with minimal impact.
- Hyperliquid matches CEX depth on BTC/ETH but thins out on smaller pairs, where spread can quietly cost more than the headline fee.
- MEXC lists a huge number of perps but liquidity on the long tail is shallow — great for cheap majors, riskier for size on obscure contracts.
- Bitget sits in the middle, with strong liquidity on popular pairs.
The rule: on majors, chase the lowest fee. On anything thinner, weigh spread and depth ahead of the fee, because slippage is the fee you don’t see on the schedule.
Which Perp Venue Is Cheapest for You?
Trading majors at low-to-mid volume: MEXC on raw fees, Hyperliquid if you want no KYC and self-custody. Both undercut the big CEXs before discounts.
Active trader who wants deep liquidity everywhere: Binance or OKX. Add the token discount, climb the volume tiers, and the effective rate lands close to the cheapest venues while giving you the deepest books.
Maker-heavy or market-making: OKX for its negative top-tier maker rate, or MEXC for its flat 0% base maker. Both pay or charge nothing on the maker leg.
Holding leveraged positions for days: Fee choice matters less than funding. Pick the venue where funding on your side is favorable, and prefer Hyperliquid’s hourly settlement if you dislike lumpy 8-hour payments.
For the full per-exchange breakdowns, see our Binance fees, Bybit fees, OKX fees, and Hyperliquid fees guides.
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FAQ
Which exchange has the lowest perpetual futures fees in 2026?
MEXC has the lowest base perp fees at 0.00% maker and 0.02% taker. Among order-book venues that require no KYC, Hyperliquid is cheapest on the taker side at 0.045%. At high volume, OKX and Binance close the gap through VIP tiers and token discounts.
Are futures fees higher than spot fees?
No, the opposite. Perpetual futures fees are usually lower than spot fees because futures fees are charged on notional value, not the full trade, and competition among perp venues is fierce. Base perp taker fees of 0.02%-0.06% are well below typical spot taker rates of 0.10%.
Do I pay fees on both opening and closing a futures position?
Yes. A perpetual position incurs a fee when you open it and again when you close it, each based on notional value. A round trip at 0.05% taker on both legs costs 0.10% of notional in fees, before any funding paid while the position is open.
How does leverage affect the fee I pay?
Leverage does not change the fee rate, but it magnifies the fee relative to your margin. A 0.05% taker fee on a position opened at 10x leverage equals 0.5% of your posted margin per side, because the fee is charged on the full notional, not on your collateral.
Is Hyperliquid cheaper than Binance for futures?
At the base tier, yes — Hyperliquid’s 0.045% taker beats Binance’s 0.050%, with no KYC. But Binance users with a referral code and BNB fee payment reach an effective rate near Hyperliquid’s, and Binance offers deeper liquidity across more markets. At high volume with HYPE staking, Hyperliquid pulls ahead again.
Why trust this author?
James is a former quantitative trader at a top-tier hedge fund who transitioned to crypto in 2017. He now leads research at CryptoFeeDiscount, personally testing every exchange with real capital. His systematic approach to fee analysis has helped traders save over $2M collectively.