This crypto trading guide article compares the best crypto derivatives exchange trading platforms for US customers.
We will compare different derivative trading instruments and what fees are associated with those.
Crypto derivatives are high-risk crypto leverage trading instruments that can trade with high leverage. So always be careful, and don’t use funds you can’t afford to lose.
List: Best Crypto Derivative Exchanges
In the table below, we have listed all the best crypto derivative trading platforms in terms of derivative markets, derivative trading fees, derivative trading volumes, and the number of users.
What are crypto derivatives?
Almost all trading markets have also a derivative market.
Cryptocurrency derivatives are a category of crypto trading instruments. Derivatives are trading instruments that derive their values from an underlying asset. The underlying asset can be stocks, bonds, commodities, cryptocurrencies, interest rates, or market indices, as seen in the image from Investopedia above.
The most common and traded derivative trading instruments in the cryptocurrency market are Bitcoin futures and Bitcoin perpetual.
Other common crypto derivatives are
- Crypto futures trading
- Crypto perpetual trading
- Crypto option trading
- CFD crypto trading
- Leveraged tokens issued by Binance
On the other hand, Crypto margin trading uses the spot market order book; when you do margin trading, you buy the underlying asset. So therefore, margin trading is not a derivative trading instrument.
Crypto Derivative Trading Markets
The table below lists the number of futures and perpetual markets on each derivative crypto exchange.
Binance - Best Crypto Derivative Exchange
Binance offers derivatives cryptocurrency trading in a few different products. The main categories can be seen in the screenshot below, taken from the header menu called derivatives on the Binance trading platform. In the menu, you can see
USDT futures on Binance are traded with no expiration date and with leverage up to 125x.
COIN futures are traded as token margins and come with both expiration dates and without expiration dates. The leverage is up to 125x.
Binance leveraged tokens are traded with a leverage of up to 3x and no risk for liquidation.
Binance Derivative Exchange Pros and Cons
Bybit - Number 2 Crypto Perpetuals Derivate Site
Bybit is one of the best crypto derivative exchanges on the market. Here, you can trade various derivatives with a significant trading volume and liquidity in most markets.
Bybit is famous for excellent crypto deposit bonuses, which can be up to $30.000 from time to time.
Bybit is often recommended by some of the top Youtube influencers and can also be used by several.
Bybit has, as one of few, USDC settled perpetual with high leverage.
Bybit Derivative Exchange Pros and Cons
Bitget - Crypto Trading Perpetuals Derivatives
Bitget is one of the most liquid crypto trading sites regarding perpetuals trading volume.
Bitget ranks as the 4th largest crypto exchange with regards to perpetual trading volume according to Coingecko.
Bitget Crypto Futures Exchange Pros and Cons
Kucoin Crypto Derivative Trading Platform
Kucoin is one of the best crypto derivative exchange trading platforms. You find many markets with a decent trading volume for each trading pair. However, Kucoin is also famous for having many listings, and there is a possibility you will find missing markets listed on Kucoin.
In addition, Kucoin charges among the lowest fees and have an excellent community reputation.
Kucoin Crypto Futures Exchange Pros and Cons
Kraken cryptocurrency derivatives trading platform
Kraken is one of the most trusted crypto trading platforms, and recently, they bought Crypto Facilities to incorporate futures trading into the Kraken family.
As shown in the screenshot below, Kraken futures is still separated from Kraken spot trading.
With Kraken, you can trade derivatives with up to 50x leverage and seamlessly transfer between Kraken spot and Kraken futures. Read more about Kraken in our Kraken review.
OKX - Most Listed Crypto Futures Derivatives
OKX crypto trading exchange has the most listed traditional futures markets for crypto trading with its 603 trading markets.
According to Coingecko, no other exchanges list more than 100 futures markets.
In addition, OKX also has good trading volumes ranking 6th place for derivative trading volume on Coingecko.