MEXC vs Bybit: Funding Rates, Fees & Features Compared

Bybit and MEXC are among the leading futures exchanges in crypto industry, each with its own advantages and features tailored to various trading needs.

Bybit has built its reputation on deep liquidity and a strong focus on leverage and derivatives trading. It caters mainly to high-volume traders and offers an array of payment methods and fiat currencies.

In contrast, MEXC stands out for its extensive selection of cryptocurrencies and cost-effective trading options, appealing to traders who prioritize variety and cost-efficiency.

When analyzing Bybit and MEXC, two leading cryptocurrency exchanges, you should consider several key aspects of their trading platforms. Here is how they compare:

Feature	Bybit	MEXC
Supported Coins	Offers a more limited selection of coins.	Provides access to a more extensive range of coins.
Payment Methods	Supports over 80 methods and 50 fiat currencies.	Has fewer fiat deposit options, supporting 23 fiat currencies.
Trading Fees	Competitive fees.	Competitive fees, potentially differing slightly.
Withdrawal & Deposit Fees	Varies per coin with some free withdrawal options.	Varies per coin, details depending on transaction.
Leverage	Offers leverage on trades, details based on specific products.	Similar leveraged trading options available.
Trading Volume	High liquidity, which may result in better price discovery.	Liquidity may vary, affecting the trading experience.
Security	Robust security measures and regulatory compliance.	Security procedures are in place, with a focus on user safety.
Features	Extensive trading options, including spot and futures.	It offers a variety of trading products but may differ in specialties.

When choosing between Bybit and MEXC, consider which features align with your trading requirements. Bybit is known for its deep liquidity and extensive trading options, while MEXC stands out for its greater variety of supported cryptocurrencies.

Both exchanges have taken measures to ensure the security of their trading activities, but Bybit also emphasizes regulatory compliance, enhancing its reliability.

Nonetheless, your decision should be based on the specific functionalities you need on a trading platform.

MEXC vs Bybit: Products and Services

When exploring cryptocurrency exchanges, you’ll find that Bybit and MEXC offer a range of products and services tailored to diverse trading preferences.

Bybit is known for its robust futures trading platform with deep liquidity, catering to your need for a stable trading environment.

If you’re interested in futures, Bybit provides a seamless experience with various contracts. In options trading, Bybit offers flexibility and supports sophisticated strategies.

The exchange has also ventured into spot trading, where you can buy and sell a range of cryptocurrencies.

• Spot Trading: Multiple cryptocurrencies supported
• Futures Trading: Advanced platform with a variety of contracts
• Options Trading: Designed for sophisticated trading strategies

On the other hand, MEXC stands out for its expansive selection of cryptocurrencies, enhancing your access to a broader market.

Spot trading in MEXC is comprehensive, with many crypto pairs. The platform also supports margin trading, which can be appealing if you want leverage in your trades.

For those interested in passive earning, MEXC gives you opportunities in staking, earning, and lending programs.

• Spot Trading: Extensive range of cryptocurrencies available
• Margin Trading: Leverage options for various trading pairs
• Staking/Earn/Lending: Passive earning opportunities

Both exchanges provide practical trading tools to analyze the market and make informed decisions.

Bybit and MEXC are constantly updating their services to provide better user experiences and innovative solutions, whether it be through earn programs, staking, or lending options.

MEXC vs. Bybit: Contract Types

When comparing the contract types available on Bybit and MEXC, you’ll find that both platforms cater to various trading preferences but with some distinct differences.

Bybit Contracts:

• Inverse Perpetual Contracts: Trades are based on cryptocurrency pairs where the quote currency (like BTC or ETH) is also the margin currency.
• Linear Perpetual Contracts: Here, USDT is the margin currency, making it more straightforward if you’re accustomed to thinking in terms of fiat value.
• Inverse Futures Contracts: These are similar to inverse perpetual contracts with an expiry date.

MEXC Contracts:

• COIN-M Futures: These futures contracts use the actual cryptocurrency, such as BTC or altcoins, for margin and settlement.
• USD-M Futures: Margins and settlements are handled in USDT, offering a stable valuation method.

Both platforms facilitate leveraged trading, which can amplify your potential returns and risks. It’s important to note that leveraged trading is not suitable for all investors due to the high risk involved.

Options Contracts:
Bybit offers options trading, giving you the opportunity to buy or sell an asset at a predetermined price within a set time frame. This type of contract is not yet available on MEXC.

Here’s a quick reference table:

Contract Type	Bybit	MEXC
Inverse Perpetual	✅	:x:
Linear Perpetual	✅	✅
Inverse Futures	✅	:x:
COIN-M Futures	:x:	✅
USD-M Futures	(as USDT) ✅	✅
Options	✅	:x:

You must evaluate your trading style and needs when selecting a platform. Both Bybit and MEXC offer diverse contract types to suit different trading strategies.

MEXC vs Bybit: Leverage and Margin

When trading on Bybit, you can access a significant level of leverage, up to 100x, which means you could open a position up to 100 times larger than your actual margin.

For instance, with just $100, you could take a position equivalent to $10,000 by employing leverage. Bybit’s cross-margin and isolated margin options give you flexibility in managing risk.

The margin serves as collateral, and being aware of liquidation risks is crucial. Should the market move against your position, you may face liquidation, losing your margin.

MEXC, on the other hand, offers even higher leverage options, going up to 200x for margin trading.

This exceptional level of leverage enables you to amplify significantly your trading position and potential returns with a relatively small investment.

Like Bybit, MEXC employs both cross and isolated margins, giving you control over your trading strategy and risk exposure.

But remember, with higher leverage comes the increased likelihood of liquidation if the market turns unfavorable.

Here’s a quick comparison of both platforms:

Feature	Bybit	MEXC
Maximum Leverage	100x	200x
Margin Trading	Cross/Isolated	Cross/Isolated
Liquidation Risk	Present with high-leverage	Higher due to more leverage

It’s imperative to consider funding rates when trading with leverage, as they can affect the cost of holding a position over time.

Both Bybit and MEXC have funding rates that can fluctuate based on market conditions, which means, it can sometimes increase the cost of your open positions.

As a trader on Bybit or MEXC, understanding and managing margin requirements is vital to safeguard against substantial losses, especially in volatile market conditions.

Always approach leverage cautiously, and consider starting with lower leverage to maintain a handle on risk management as you trade.

MEXC vs Bybit: Liquidity and Volume

When assessing exchanges like Bybit and MEXC, liquidity and volume are crucial factors that can significantly influence your trading experience.

High liquidity typically equates to tighter spreads and faster execution, which minimizes slippage — the difference between the expected price and the price at which the trade is executed.

Bybit is known for having deep liquidity, which is one of the highest in the industry according to recent trading volume metrics.

This deep liquidity allows you to execute large trades without substantially moving the market price.

It’s a vital asset for high-frequency traders and institutional investors who need to ensure minimal impact on the market price with their larger volume trades.

• Notable Bybit Metrics:
  • Daily trading volume: Offers a consistently high trading volume.
  • Market depth: Sustains a depth that indicates strong liquidity.
  • Order book: Tight spreads, indicating healthy liquidity levels.

On the other hand, MEXC has shown growth in its liquidity and trading volumes but still falls short compared to Bybit.

Nevertheless, it remains a competent exchange for retail traders. A more extensive selection of cryptocurrencies can provide diverse trading opportunities, albeit with the potential for higher slippage during order execution, especially for less popular assets.

• MEXC Metrics Worth Noting:
  • Daily trading volume: Generally lower compared to Bybit.
  • Market depth: Less depth may lead to wider spreads.
  • Order book: Possible higher slippage due to thinner liquidity.

MEXC vs Bybit: Fees and Rewards

Evaluating Bybit and MEXC based on their fee structure and reward systems is crucial for your cost-effective trading strategy.

MEXC vs Bybit: Trading Fee & Deposit/Withdrawal Fee Compared

Bybit’s Fee Structure:

• Trading Fees: You’ll encounter a tiered maker-taker fee schedule on Bybit, which is often slightly lower than the taker fee to incentivize liquidity. For instance, the maker fee can be as low as 0.01%, and the taker fee can be around 0.06%.
• Deposit Fees: Bybit generally does not charge any fees for deposits.
• Withdrawal Fees: A fixed fee is applicable for withdrawals, depending on the cryptocurrency. For example, withdrawing Bitcoin might cost you a constant fee regardless of the amount.

MEXC’s Fee Structure:

• Trading Fees: MEXC offers a maker-taker model with a different fee structure. The maker fee could be at 0.2% and the taker fee at the same level or slightly higher, making it crucial to check the latest fee schedule.
• Deposit Fees: MEXC may charge depending on the payment method chosen for fiat deposits.
• Withdrawal Fees: Similar to Bybit, MEXC charges a fixed withdrawal fee that varies per cryptocurrency.

Reward Systems:
Bybit and MEXC have reward systems that can significantly impact overall profitability.

Bybit, for example, may offer a signup bonus, while MEXC might give rewards for completing specific trading volumes.

These bonuses can act as discounts against your trading fees, making your trading more cost-effective.

Incentives and Discounts:
Both exchanges offer discounts for high-volume traders, so as your trading volume increases, you could benefit from a lower fee rate.

This tiered fee discount rewards more active traders with cost savings on their trades. But always check the latest fee information as this can change.

MEXC vs Bybit: Deposits and Withdrawals Options

When considering Bybit and MEXC for your crypto transactions, understanding their deposits and withdrawal options is essential for efficient fund management.

Bybit supports over 80 payment methods and over 50 fiat currencies for deposits and withdrawals.

Bank transfers stand as a reliable option you have with Bybit.

On the other hand, MEXC allows deposits in a more limited fashion, supporting only 23 fiat currencies.

Nevertheless, the platform ensures that the primary fiat deposit methods, such as bank transfers, are available for your convenience.

For deposits on Bybit:

• Minimal fees, depending on payment method
• The majority of options provide immediate transactions
• Broad support for various payment methods, including credit/debit cards, e-wallets, and more

Comparatively, MEXC deposit options might come with:

• Some fees, which can be higher than Bybit depending on the method
• Usually swift processing times but potentially slower for specific methods
• A narrower selection of payment methods

Regarding withdrawals, Bybit generally processes transactions rapidly, but processing times can vary based on network conditions and withdrawal methods.

MEXC aims to process withdrawals quickly, but the limited number of fiat options may impact your flexibility and speed in moving funds.

MEXC vs. Bybit: KYC Requirements

When deciding between Bybit and MEXC, understanding their respective Know Your Customer (KYC) requirements is crucial.

These regulations are in place to prevent fraud and money laundering, affecting your privacy, security, and how you access platform services.

Bybit has a tiered KYC system:

• Level 0: No KYC required for daily withdrawals up to 2 BTC.
• Level 1 (Verified): Personal information and ID document needed. Increases withdrawal limits.
• Level 2 (Verified Plus): Requires proof of address. Further enhances limits and services.

Bybit KYC is optional but provides a higher security and increased account capabilities.

MEXC offers different tiers of verification:

• Level 1: Email and phone verification permit the use of services with fundamental withdrawal limits.
• Level 2: Submitting government-issued ID, a selfie, and additional personal details extends limits.
• Level 3: Comprehensive data provision, potentially including proof of address or bank statements, maximizes your accessibility and transactional freedom on the exchange.

MEXC mandates KYC verification depending on your intended transaction volume, impacting user privacy somewhat.

Both platforms require document submissions for increased limits:

Exchange	Verification Level	Required Documents	Trading/Withdrawal Limits
Bybit	1	Gov. Issued ID	Increased limits
	2	Proof of Address	Maximum limits
MEXC	1	Phone, Email	Basic limits
	2	ID, Selfie	Extended limits
	3	Additional Personal Information	Highest limits

 

MEXC vs. Bybit: Order Types

When navigating the various order types on Bybit and MEXC, you’ll find both exchanges offer a range of options to cater to your trading strategies and risk management needs.

On Bybit, you have access to the following order types:

• Market Orders: These are executed immediately at the current market price.
• Limit Orders: You specify the price you wish to buy or sell.
• Stop Orders: Also known as stop-loss orders, they trigger a buy or sell at a specified price.
• Conditional Orders: These orders become active only when you set certain conditions are met.
• Post-Only Orders: They ensure you pay the maker fee, not the taker fee, by adding liquidity to the market.
• Reduce-Only Orders: These orders reduce your position, so avoid increasing them.

MEXC offers a similar range:

• Market Orders: Execute trades instantly at the best available market price.
• Limit Orders: Provide control over the price you buy or sell.
• Stop Orders: Help prevent extensive losses or secure profits by triggering at your predetermined price.
• Conditional Orders: Specific conditions need to be met before execution.
• Post-Only Orders: This order type ensures that your order will not be executed as a taker.
• Reduce-Only Orders: This helps risk management by ensuring you only reduce an open position.

MEXC may have additional order types, specifically geared toward its platform’s offerings.

Bybit’s focus tends to be on providing deep liquidity and extensive trading options, which could influence the order types available to you as a trader.

Your strategy will dictate the choice of order types you use.

For instance, limit orders allow for precise entry points, while stop-loss orders can safeguard against significant losses. Post-only and reduce-only options are crucial for sophisticated strategies emphasizing cost efficiency and position sizing.

Bybit and MEXC facilitate these various order types to align with your trading requirements.

MEXC vs Bybit: Security and Reliability

When considering Bybit and MEXC, your security and the reliability of these platforms are paramount.

Both platforms employ advanced security features to protect your funds and data, but there are nuances to their approaches.

Bybit is reputed for its strong security measures, which include multi-signature wallets, two-factor authentication (2FA), and SSL encryption.

Additionally, Bybit focuses on deep liquidity, enhancing your trading experience by providing the stability needed, especially during volatile market conditions.

Bybit’s regulatory compliance is also a critical factor in maintaining a secure trading environment, giving you peace of mind regarding the legality of your transactions.

On the other hand, MEXC provides security features like anti-phishing codes, 2FA, and cold storage for cryptocurrency assets, which safeguard your funds from unauthorized access.

While MEXC has limited payment options, the exchange has demonstrated a commitment to user experience by offering a wide selection of cryptocurrencies.

Feature	Bybit	MEXC
Wallet Security	Multi-signature wallets	Cold storage solutions
Authentication	Two-factor authentication (2FA)	2FA and anti-phishing codes
Regulatory	Strong regulatory compliance	Compliance varies by region
Past Incidents	Rapid resolutions to issues	Proactive issue prevention measures
Customer Support	24/7 support, multilingual	24/7 support, multilingual

Both platforms provide responsive customer support, available 24/7 and in multiple languages, to address your concerns promptly.

Bybit has not been immune to issues; however, their response in rectifying incidents instills confidence in their operational resilience. MEXC, while less forthcoming about past security incidents, has implemented proactive measures to prevent potential security issues.

MEXC vs Bybit: User Experience and Trading Tools

When navigating Bybit and MEXC, you’ll find distinct differences in user interface (UI) and user experience (UX). Bybit sports a clean and intuitive UI, often praised for its aesthetics.

The platform provides a user-friendly interface that appeals to both beginners and experienced traders. With quick response times and seamless transitions, Bybit’s design ensures that you can navigate markets efficiently.

On the other hand, MEXC also features a user-centric design, accommodating users across various experience levels.

Their mobile app is robust, offering a comprehensive set of trading tools, which ensures that you can trade on the go without losing functionality.

Despite having many features, MEXC’s UI maintains an intuitive layout, facilitating ease of use.

As for trading tools, Bybit’s charting tools are advanced, giving you access to a wide range of indicators and drawing tools.

These are essential for technical analysis and help you make informed decisions. Coupled with a powerful API, Bybit’s tools are a strong point for traders who rely on technical analysis.

MEXC matches up with a solid range of trading tools as well, including an array of charting options and indicators.

User feedback often highlights MEXC’s commitment to providing a full trading experience on both the web and mobile platforms.

This attention to detail across platforms indicates a deliberate effort to ensure trade execution is never compromised, regardless of your device of choice.

Both platforms are designed keeping in mind the importance of a user-friendly interface, thus catering to your need for a straightforward and effective trading experience.

While Bybit is often highlighted for its derivatives trading capabilities, MEXC is acknowledged for the diversity of trading options it provides.

MEXC vs Bybit: Regulation and Compliance

When you’re evaluating Bybit and MEXC for their adherence to regulations, it’s crucial to understand the distinct approaches each exchange has taken to comply with legal and industry standards.

Bybit has centered its compliance strategy on robust security measures and seeks to maintain its operations within the boundaries of regulatory demands. It has been proactive in obtaining the necessary licenses to operate in various jurisdictions globally.

Additionally, the platform undergoes regular security audits to ensure the protection of its users’ assets and personal data.

Conversely, MEXC operates with a clear focus on privacy while still respecting the legal frameworks of the countries in which it offers services.

While offering a privacy-centric experience, MEXC ensures that it aligns with international anti-money laundering (AML) and know your customer (KYC) standards.

Key Compliance Components:

• Licenses: Verify which regulatory bodies have officially recognized each platform.
• Security Audits: Consider the frequency and outcomes of these audits.
• AML/KYC Measures: Assess how the platforms protect against illicit activities while managing user privacy.

Bybit has faced challenges, particularly in terms of regulatory compliance, which it has addressed by strengthening its legal compliance and customer protection protocols. In contrast, MEXC has to navigate the complexities of providing stringent privacy protections within the regulatory frameworks it adheres to.

Remember, the regulatory environment for cryptocurrency exchanges is evolving, and both Bybit and MEXC must constantly adjust to new laws and standards. 

Conclusion

When comparing Bybit and MEXC for your cryptocurrency trading needs, your decision hinges on a few critical aspects:

• Range of Crypto Assets: MEXC offers a wider array of cryptocurrencies, which may appeal if you’re looking to trade less common coins.
• Fees: Both exchanges have competitive fees, but the specifics can vary, so consider the fee structures in the context of your usual trading volume and strategies.
• Trading Experience: Bybit is often praised for its deep liquidity and extensive trading tools, which might benefit frequent traders and those employing sophisticated trading strategies.

Customer Support: Responsive customer support is crucial, and both platforms provide adequate assistance. However, actual user experiences can vary, so it’s recommended to check the latest feedback.

Mobile and Desktop Applications: Whether you prefer trading on desktop or mobile can influence your choice. Both platforms cater to traders preferring different interfaces with functional and user-friendly applications.

For novice traders, MEXC’s extensive selection of crypto assets and straightforward interface could be more accessible. Seasoned traders, seeking deep liquidity and advanced trading options, might favor Bybit.

It’s vital to continue your education on these exchanges as features and services evolve. Cryptocurrency trading forums, official documentation, and user reviews can provide current insights.

Also, consider experimenting with small trades on both platforms to determine which aligns best with your trading style and preferences before committing more significant funds.

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