Looking for the best crypto derivatives exchanges to start trading in 2025? Picking the wrong platform could mean high fees, lack of features, or even security risks. But it doesn’t have to be complicated. This guide simplifies your search, offering a clear comparison of the top exchanges to make your trading journey seamless and successful.
What are Crypto Derivatives?
Let’s start with the basics. Crypto derivatives are financial contracts whose value is based on an underlying cryptocurrency asset, like Bitcoin or Ethereum. Think of them as a way to bet on the future price of a cryptocurrency without actually owning it.
Here’s a simple example: Imagine you think Bitcoin’s price will go up in the next month. Instead of buying Bitcoin directly, you could use a derivative contract to bet on that price increase. If you’re right, you’ll make money; if you’re wrong, you’ll lose money.
There are different types of crypto derivatives, including futures, options, and perpetual contracts. Each works a bit differently, but they all allow traders to speculate on price movements or hedge against risks.
For those of you eager to dive deeper, we’ve got a detailed article on what are crypto derivatives. I highly recommend checking it out after reading this guide.
Now that we understand what crypto derivatives are, you might be wondering, “Why should I consider trading them?”
Why Trade Crypto Derivatives?
Well, as someone who’s been in the crypto game for a while, I can tell you there are several compelling reasons. Let’s discuss three of them.
First and foremost, derivatives offer the potential for higher profits. With derivatives, you can use leverage, which means you can control a larger position with a smaller amount of capital. This can amplify your gains if your prediction is correct. I remember the first time I used leverage on a Bitcoin futures contract – a small price movement resulted in a profit that was much larger than what I would have made just holding the coin.
Secondly, derivatives allow you to profit in both rising and falling markets. Unlike simply buying and holding crypto, where you only make money when prices go up, with derivatives, you can “short” the market and potentially profit when prices fall. This flexibility has been a game-changer for me, especially during bearish periods.
Lastly, derivatives can be an excellent tool for hedging. If you own cryptocurrencies, you can use derivatives to protect against potential price drops. It’s like having insurance for your crypto portfolio. I’ve used this strategy several times to safeguard my holdings during uncertain market conditions.
Risks Involved in Trading Crypto Derivatives
While the benefits of trading crypto derivatives can be exciting, it’s crucial to understand the risks involved. As a beginner, I learned some of these lessons the hard way, and I want to make sure you’re well-informed.
The most significant risk is the potential for substantial losses due to leverage. Remember how I mentioned leverage can amplify your gains? Well, it works both ways. If the market moves against your position, your losses can be magnified just as quickly. I’ll never forget my first major loss – I had overleveraged on an Ethereum futures contract, and a sudden price drop wiped out a large portion of my trading account in minutes.
Another risk is the complexity of these instruments. Derivatives can be challenging to understand fully, and it’s easy to make mistakes if you’re not careful. For instance, you need to be aware of concepts like funding rates, liquidation prices, and order types. Misunderstanding these can lead to unexpected losses.
Lastly, the crypto market is highly volatile and can move rapidly based on news, regulations, or market sentiment. This volatility is amplified when trading derivatives, which can lead to rapid and significant price swings.
Despite these risks, don’t be discouraged. With proper education, risk management, and practice, many traders successfully navigate the world of crypto derivatives. The key is to start small, learn continuously, and never risk more than you can afford to lose.
Now that we’ve covered the benefits and risks, let’s dive into the main reason why you are here – our review of the ten best crypto derivatives exchanges.
10 Best Crypto Derivatives Exchanges Ranked for Smart Traders
Binance
Binance, launched in 2017 by Changpeng Zhao (often called CZ), has quickly become one of the best crypto derivatives exchanges. Based in Malta, it boasts over 90 million users worldwide. With a daily trading volume of around $54 billion, it’s a powerhouse in the crypto derivatives market.
Liquidity: As someone who’s used Binance extensively, I can tell you its liquidity is top-notch. This means you can easily buy or sell without significantly affecting the price. It’s particularly great for popular trading pairs like BTC/USDT or ETH/USDT.
Fees: Binance’s fees are competitive, with maker and taker fees both at 0.02% and 0.04% respectively. For beginners, “maker” fees apply when you add liquidity to the market (like placing a limit order), while “taker” fees are for immediately filled orders.
Regulation: Binance operates globally but has faced regulatory challenges in several countries. It’s currently working on obtaining licenses in various jurisdictions, including a recent authorization in France.
Product Offerings: Binance offers a comprehensive suite of derivatives:
- Futures: Quarterly and Perpetual contracts
- Options: European-style options on major cryptocurrencies
- Leveraged Tokens
- Binance Liquid Swap for liquidity pools
Security: Binance employs a Secure Asset Fund for Users (SAFU), cold storage for majority of assets, and regular security audits. They also offer features like IP and withdrawal address whitelisting.
Deposit/Withdrawal Methods: Supports bank transfers, credit/debit cards, and P2P trading for fiat. For crypto, they support deposits and withdrawals across multiple networks to reduce fees.
Bybit
Bybit is one of the best crypto derivatives exchanges that we recommend. This exchange was founded in 2018 by CEO Ben Zhou and is headquartered in Singapore. While not as large as Binance, it has still attracted over 10 million users. Its daily trading volume of about $23 billion is impressive and shows its growing popularity.
Liquidity: In my experience, Bybit’s liquidity is solid, especially for major cryptocurrencies. It might not match Binance for some of the less common trading pairs, but for most traders, the liquidity is more than sufficient.
Fees: Bybit’s fee structure is similar to Binance, with maker fees at 0.02% and taker fees slightly higher at 0.055%. This slight difference in taker fees might matter if you’re doing high-frequency trading, but for most beginners, it’s not a significant factor.
Regulation: Bybit has had to cease operations in some jurisdictions due to regulatory issues. They’re currently registered in Dubai and are working on compliance in various regions.
Product Offerings:
- Perpetual Contracts
- Inverse Futures
- USDT Futures
- Options trading
Security: Bybit uses multi-signature cold wallets, regular security audits, and offers two-factor authentication. They also have a insurance fund to prevent auto-deleveraging.
Deposit/Withdrawal Methods: Supports crypto deposits and withdrawals across multiple networks. Fiat support is limited compared to Binance, primarily relying on third-party payment providers.
OKX
OKX, formerly OKEx, was founded in 2017 and is headquartered in Seychelles. It serves millions of users globally with a daily trading volume for derivatives of approximately $14,404,274,272.
Liquidity: OKX has an open interest of $5,209,275,396, which indicates good liquidity for most trades.
Fees: Maker fee: 0.02%, Taker fee: 0.05%. These rates are competitive and in line with other major exchanges.
Regulation: OKX is registered in Seychelles and has obtained licenses in several jurisdictions, including Malta and Dubai. However, it has faced regulatory challenges in some countries.
Product Offerings:
- Perpetual Swaps
- Futures Contracts
- Options Trading
- Margin Trading
Security: OKX employs multi-signature cold wallets, regular security audits, and offers features like anti-phishing codes and withdrawal safeguards.
Deposit/Withdrawal Methods: Supports various fiat currencies through bank transfers and credit/debit cards. For cryptocurrencies, they support multiple networks to optimize for fees and speed.
Bitget
Bitget, established in 2018, is headquartered in Singapore. It has over 8 million users worldwide and a daily derivatives trading volume of around $13,844,895,234.
Liquidity: Bitget’s open interest stands at $3,118,405,738, which ensures reasonable liquidity for most trades.
Fees: Maker fee: 0.02%, Taker fee: 0.06%. The taker fee is slightly higher than some competitors, but still within a competitive range.
Regulation: Bitget has obtained licenses in several jurisdictions including the USA, Canada, and Australia. They’ve been proactive in regulatory compliance.
Product Offerings:
- USDT-Margined Futures
- Coin-Margined Futures
- Copy Trading
- Spot Leverage Token
Security: Bitget uses multi-signature cold wallets and has a 300 million USD Protection Fund. They also offer features like two-factor authentication and withdrawal address management.
Deposit/Withdrawal Methods: Supports fiat deposits via bank transfer and credit/debit cards. For cryptocurrencies, they support multiple networks and chains.
Deribit
Deribit, launched in 2016, is based in Panama. It’s known for its focus on Bitcoin and Ethereum derivatives, with a daily trading volume of approximately $4,313,542,096.
Liquidity: Deribit has an open interest of $5,670,772,275, which is impressive given its focus on just two cryptocurrencies.
Fees: Maker fee: -0.02% (rebate), Taker fee: 0.05%. The negative maker fee is unique and can be attractive for high-volume traders.
Regulation: Deribit is registered in Panama and doesn’t serve US customers. It operates in a grey area in many jurisdictions but is working on obtaining licenses.
Product Offerings:
- European Style Options
- Perpetual Contracts
- Futures Contracts
- (All offerings are for Bitcoin and Ethereum only)
Security: Deribit keeps 99% of assets in cold storage and offers features like multi-factor authentication and IP address whitelisting.
Deposit/Withdrawal Methods: Deribit only supports crypto deposits and withdrawals, primarily in Bitcoin and Ethereum. No fiat support is available.
Kraken
Kraken, founded in 2011, is one of the oldest cryptocurrency exchanges. Based in San Francisco, USA, it serves millions of users globally with a daily derivatives trading volume of approximately $1,216,772,121.
Liquidity: Kraken’s open interest is $302,951,385. While lower than some competitors, it still provides adequate liquidity for most traders, especially on major pairs.
Fees: Maker fee: 0.02%, Taker fee: 0.05%. These rates are competitive and can be lower for high-volume traders.
Regulation: Kraken is one of the most regulated exchanges. It’s registered as a Money Services Business with FinCEN in the US and has various licenses in different jurisdictions, including the UK and UAE.
Product Offerings:
- Futures Contracts
- Margin Trading
- Over-the-Counter (OTC) trading
Security: Kraken is known for its strong security measures, including 95% cold storage, regular proof-of-reserves audits, and global settings time lock.
Deposit/Withdrawal Methods: Supports various fiat currencies via bank transfers, SWIFT, and SEPA. For cryptocurrencies, they support multiple networks.
KuCoin
KuCoin, established in 2017, is headquartered in Seychelles. It serves over 20 million users worldwide and has a daily derivatives trading volume of around $10,198,121,845.
Liquidity: KuCoin’s open interest stands at $1,385,528,557, indicating good liquidity across its offerings.
Fees: Maker fee: 0.02%, Taker fee: 0.06%. While the taker fee is slightly higher than some competitors, KuCoin often runs promotions to reduce fees.
Regulation: KuCoin operates globally but has faced regulatory challenges in some jurisdictions. It’s currently working on obtaining licenses in various countries.
Product Offerings:
- Futures Trading
- Margin Trading
- Leveraged Tokens
- Trading Bot
Security: KuCoin employs bank-level encryption, multi-factor authentication, and regular security audits. They also have an insurance fund to protect users against auto-deleveraging.
Deposit/Withdrawal Methods: Supports P2P fiat trading and third-party fiat gateways. For cryptocurrencies, they support a wide range of coins and tokens across multiple networks.
Crypto.com Exchange
Crypto.com, launched in 2016, is headquartered in Singapore. The exchange arm of their business serves millions of users globally with a daily derivatives trading volume of approximately $1,917,543,920.
Liquidity: Crypto.com Exchange has an open interest of $1,690,217,241, which indicates solid liquidity for most trading pairs.
Fees: Maker fee: 0.04%, Taker fee: 0.06%. These fees are slightly higher than some competitors but can be reduced by staking their native CRO token.
Regulation: Crypto.com has been proactive in obtaining regulatory approval in various jurisdictions, including Singapore, Malta, and the UK.
Product Offerings:
- Derivatives Trading
- Margin Trading
- Crypto Earn (interest-bearing accounts)
- Syndicate (token offering platform)
Security: Crypto.com is known for its robust security measures, including ISO/IEC 27001:2013 certification, partnership with ledger vault, and $750M insurance coverage.
Deposit/Withdrawal Methods: Supports fiat deposits via bank transfers and credit/debit cards. For cryptocurrencies, they support deposits and withdrawals across multiple networks.
Bitfinex
Bitfinex, launched in 2012, is one of the older cryptocurrency exchanges. Based in Hong Kong, it serves a global user base with a daily derivatives trading volume of approximately $2,145,276,355.
Liquidity: Bitfinex’s open interest is $593,995,480, indicating solid liquidity for most trading pairs, especially for larger trades.
Fees: Maker fee: 0.02%, Taker fee: 0.065%. These rates are competitive, with a slightly higher taker fee compared to some other exchanges.
Regulation: Bitfinex has faced regulatory challenges in some jurisdictions, including the US. It’s currently registered in the British Virgin Islands and doesn’t serve US customers.
Product Offerings:
- Perpetual Swaps
- Futures Contracts
- Margin Trading (up to 10x leverage)
- OTC Trading
Security: Bitfinex employs multi-signature cold storage, IP address monitoring, and email encryption. They also offer customizable account security settings.
Deposit/Withdrawal Methods: Supports fiat currencies via bank wire transfers. For cryptocurrencies, they support a wide range of coins and tokens across multiple networks.
BitMEX
BitMEX, founded in 2014, is headquartered in Seychelles. Known for its high-leverage offerings, it has a daily derivatives trading volume of around $1,724,308,998.
Liquidity: BitMEX’s open interest stands at $487,017,739, providing sufficient liquidity for most traders, especially in Bitcoin derivatives.
Fees: Maker fee: 0.01%, Taker fee: 0.075%. BitMEX offers a very attractive maker fee, but its taker fee is on the higher side compared to other exchanges.
Regulation: BitMEX has faced significant regulatory scrutiny, including charges from the US CFTC. They’ve since implemented stricter KYC procedures and are working on regulatory compliance in various jurisdictions.
Product Offerings:
- Perpetual Swaps (up to 100x leverage)
- Traditional Futures
- Options (limited availability)
- Quanto Futures
Security: BitMEX uses multi-signature cold storage for user funds and offers two-factor authentication. They also have a “Dead Man’s Switch” feature for added account security.
Deposit/Withdrawal Options: BitMEX only supports cryptocurrency deposits and withdrawals, primarily in Bitcoin. They don’t offer fiat currency support.
Comparing the Top 10 Crypto Derivatives Exchanges
Below is a detailed comparison of the Top 10 Crypto Derivatives Exchanges in 2025 to help you make an informed choice:
Trading Fees |
Leverage |
Supported Cryptos |
Key Features |
Best For |
|
|---|---|---|---|---|---|
 |
0.02% maker / 0.04% taker |
Up to 125x |
200+ |
High liquidity, advanced tools, low fees |
All traders, high-volume |
 |
0.01% maker / 0.06% taker |
Up to 100x |
100+ |
Fast execution, great mobile app |
Leverage-focused traders |
 |
0.02% maker / 0.05% taker |
Up to 125x |
150+ |
Strong security, extensive derivatives |
Global traders |
 |
0.02% maker / 0.04% taker |
Up to 125x |
100+ |
Copy trading features, strong support |
Beginner traders |
 |
0.03% maker / 0.05% taker |
Up to 100x |
50+ |
Leading in options trading, BTC/ETH focus |
Options specialists |
 |
0.02% maker / 0.05% taker |
Up to 50x |
80+ |
Trusted reputation, regulatory compliance |
Security-conscious users |
 |
0.02% maker / 0.06% taker |
Up to 100x |
200+ |
Variety of assets, beginner-friendly |
Budget-conscious traders |
 |
0.03% maker / 0.06% taker |
Up to 100x |
120+ |
Rewards system, seamless app integration |
Rewards-focused users |
 |
0.02% maker / 0.055% taker |
Up to 100x |
170+ |
Institutional-grade tools, deep liquidity |
Advanced traders |
 |
0.01% maker / 0.075% taker |
Up to 100x |
30+ |
Pioneer in derivatives, BTC dominance |
Experienced traders |
Use this table to choose the exchange that best matches your trading needs!
Our Top Pick
After thoroughly reviewing the best crypto derivatives exchanges, it’s time to reveal our top picks. As someone who’s been trading on these platforms for years, I understand that choosing the right exchange can significantly impact your trading experience. Our recommendations are based on key factors that matter most to traders: user-friendly interfaces, competitive fees, robust security measures, regulatory compliance, and flexible deposit and withdrawal options.
For US Citizens: Binance.US and Kraken
If you’re based in the United States, your options are more limited due to stricter regulations. However, two exchanges stand out: Binance.US and Kraken.
Binance.US
Binance.US, the American arm of the global giant Binance, offers a user-friendly interface that’s perfect for beginners. The platform’s clean design and intuitive navigation make it easy to place trades, even if you’re new to crypto derivatives. Fees are competitive, with a maker/taker fee structure of 0.1%/0.1%, which can be further reduced if you hold their native BNB token. Security-wise, Binance.US employs the same rigorous standards as its global counterpart, including two-factor authentication and whitelisting features. As for regulation, Binance.US is compliant with US laws and is registered as a Money Services Business with FinCEN.
Kraken
Kraken, on the other hand, is a veteran in the crypto space and offers a slightly more advanced platform. While its interface might take a bit more time to master, it provides more detailed trading tools that you’ll appreciate as you grow more experienced. Kraken’s fees are also attractive, starting at 0.02%/0.05% for maker/taker. What really sets Kraken apart is its stellar security record – it’s one of the few major exchanges that has never been hacked. Kraken is also one of the most regulated exchanges in the US, which provides an extra layer of trust and protection for your funds.
Both exchanges offer multiple deposit and withdrawal methods, including ACH transfers, wire transfers, and of course, crypto deposits. The choice between the two might come down to personal preference – Binance.US for an easier start, Kraken for more advanced features.
For Other Countries: Bybit AND KuCoin
For traders outside the US, our top pick is Bybit and KuCoin. Here’s why:
User-friendliness: Bybit and KuCoin strikes an excellent balance between user-friendliness and advanced features. When I first started using Bybit, I was impressed by how quickly I could navigate the platform and place trades. Yet, as I became more experienced, I discovered a wealth of advanced tools at my disposal.
Fees: Fee-wise, Bybit and KuCoin is highly competitive with a 0.02%/0.055% maker/taker fee structure for derivatives. This is particularly attractive for high-volume traders, as fees can significantly impact your bottom line over time.
Security: Your crypto security is a top priority for Bybit and KuCoin. They use multi-signature cold wallets to store the majority of user funds, and their platform includes features like two-factor authentication and advanced risk management tools. I’ve always felt that my funds were safe on Bybit.
Regulation: While Bybit has faced some regulatory challenges, they’ve been proactive in obtaining licenses in various jurisdictions. They’re currently registered in Dubai and are actively working on compliance in other regions. This shows their commitment to operating within regulatory frameworks.
Deposit and withdrawal options: As mentioned earlier, Bybit and KuCoin offers a wide range of deposit and withdrawal options. While they don’t support direct fiat deposits, they partner with third-party providers to make fiat on-ramps smooth. For crypto deposits and withdrawals, they support multiple networks to optimize for speed and lower fees.
Conclusion
Choosing the right crypto derivatives exchange can make or break your trading experience in 2025. The top crypto derivatives platforms, like Binance, Bybit, and Kraken, stand out for their security, liquidity, and advanced tools. By aligning your trading goals with the features offered, you can trade confidently and profitably.
Don’t rush the decision—review the comparison table, explore platform tutorials, and start small. The crypto derivatives market offers immense opportunities, but success depends on informed choices and disciplined strategies. Begin your journey today with a platform that meets your needs!
Frequently Asked Questions
- What is the difference between spot and derivatives trading?
Spot trading involves buying and selling cryptocurrencies at current market prices. In contrast, derivatives trading uses contracts like futures or options to speculate on price movements without owning the asset.
- How do crypto futures and options work?
Futures contracts let you agree to buy or sell a cryptocurrency at a set price on a future date. Options give you the right, but not the obligation, to do so. Both tools let traders hedge risks or amplify gains through leverage.
- Are derivatives exchanges safe to use?
Reputable exchanges prioritize security with features like cold storage, two-factor authentication, and insurance funds. Always research the exchange’s reputation and regulation before trading.
- What’s the best exchange for beginners?
For newcomers, Bybit or Binance Futures offer user-friendly interfaces, extensive tutorials, and demo accounts for practice. Start with smaller trades to minimize risk.