Binance vs Bybit vs OKX vs Bitget vs MEXC
Liquidation rules, maintenance margin rates, and leverage caps differ across every major exchange. Here's how the five platforms compare — and links to calculate your exact liquidation price on each.
| Exchange | Tier 1 MMR* | Max leverage | Taker fee | Best for |
|---|---|---|---|---|
| Binance | 0.40% | 125x | 0.05% | Highest liquidity, most coins |
| Bybit | 0.50% | 100x | 0.055% | Derivatives-focused execution |
| OKX | 0.40% | 125x | 0.05% | Advanced order types, risk tools |
| Bitget | 0.40% | 125x | ~0.06% | Copy trading ecosystem |
| MEXC | 0.50% | Up to 200x | ~0.02% | Widest altcoin futures coverage |
*Tier 1 maintenance margin rate applies to smaller position sizes on major pairs like BTC/ETH. Rates increase in tiers as position size grows, and vary further by specific trading pair. Always confirm your exact rate on the exchange before a large trade.
The exact thresholds differ by exchange and contract, but the direction is consistent: a larger notional position can enter a higher maintenance-margin tier and move liquidation closer.
Calculate your liquidation price on each exchange
Fee comparison
Futures fees are charged on the full notional value of your position, not just your margin — so leverage multiplies the impact of fee differences. A trader running $50,000/month in volume on MEXC's ~0.02% taker fee pays meaningfully less over a year than the same volume on a 0.05–0.06% fee exchange, even though the per-trade difference looks tiny.
Use the PnL Calculator to see exactly how fees affect your specific trade size and frequency.
Leverage caps
Higher maximum leverage is not automatically better — it just means the exchange allows you to use it, not that you should. MEXC's up to 200x cap is among the highest in the industry, while Bybit's 100x cap is the most conservative of the five. Most consistently profitable traders use 3x–10x regardless of what the exchange allows.
Frequently asked questions
Binance and OKX both use a 0.40% maintenance margin rate at Tier 1 for major pairs like BTC and ETH — the lowest among the five exchanges compared here. Bybit and MEXC use 0.50% at Tier 1.
MEXC offers some of the highest leverage in the industry, with select pairs available up to 200x. Binance and OKX cap at 125x, while Bybit caps at 100x on most pairs.
Yes. A higher maintenance margin rate means your liquidation price sits slightly closer to your entry price, all else being equal, because the exchange reserves a larger buffer before force-closing your position.