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The Best Exchanges for Trading Crypto Futures in 2023

Crypto futures are derivative products in the form of a contract. Two parties commit to either sell or buy a cryptocurrency on a specific date in the future at a predetermined price. In essence, Crypto futures allow traders to speculate on the future magnitude and cost of an Asset.

The trading volume of crypto futures has grown rapidly since the Chicago Board Options Exchange launched the first Bitcoin futures contract in 2017 (Cboe). So let’s look at the best exchanges for trading crypto futures in 2023.

Binance

Binance is the most popular exchange in the industry. It stands out as the world’s biggest Bitcoin Exchange and the most liquid spot exchange. It was established in 2017 by crypto innovators Changpeng Zhao and Yi He.

Binance offers over 255 futures products, and the volumes are topping with over $22 Billion in 24 hours.

Besides futures, Binance offers other products and services, including staking, lending, yield farming, spot exchange, etc. Binance perpetual Futures fees start at 0.02% (makers) to 0.04% (takers).

OKEx

OKEx is one of the largest crypto futures trading exchanges with roughly $3.5 billion daily trading volume. The Malta-based exchange operates in over 100 countries serving over 20 million customers. OKEx offers Crypto-to-crypto, fiat-to-fiat, and crypto-to-fiat trading pairs. Also, a token’s future market is settled in that token rather than in bitcoin.

For investors looking to venture into non-bitcoin crypto futures, OKEx is the best deal. It’s also among the top for bitcoin futures. The platform charges a 0.02% maker fee and a 0.05% taker fee. The fee applies for futures and perpetual swaps in many cryptocurrencies, including BTC, ETH, TRX, and XPR.

BitMex

BitMex was once the market’s biggest and most popular crypto futures trading platform. It was launched in November 2014 by Seychelles-based HBR Global Trading Limited. 

BitMex uses a kdb+ database known for its effectiveness in high-frequency trading. Every trade has a 0.25% markers fee and a 0.75 % takers fee. As a result, customers can trade with up to x100 leverage. The platform has massive trading volumes (mainly over $200 million per 24-hour period). Other unique features of BitMex include a demo platform, liquidity, and excellent security.

Deribit

“Deribit” comes from two words; Derivatives and Bitcoin. Deribit was founded in 2016 in Amsterdam. The platform was Bitcoin’s first and largest options trading exchange, with an excellent bitcoin futures offering. As the name suggests, all transactions within Deribit are purely in bitcoin. 

The platform offers perpetual futures, traditional futures, and options for both Bitcoin and Ethereum. The withdrawal fee range from 0.0002 to 0.0015. Futures attract a Maker Fee of -0.02% (Rebate) and a Taker Fee of 0.05%. Deribit futures products are tradeable with 50-100x leverage. It has over $200 Million daily trading volume.

KuCoin

Launched in 2017, Kucoin is a Singapore-based global cryptocurrency trading platform. Kucoin, also known as “The People’s Exchange” for its user-centered features, offers one of the most competitive fees in the market (0.1% flat fee) and a 0.0005 withdrawal fee. The exchange is currently boasting over $48 million in daily futures trading. Kucoin supports futures trading for Ethereum and Bitcoin among others.

Conclusion

Trading crypto futures comes with many benefits compared to regular trading. Futures not only attract a low fee but also allows leverage trading. Futures are also highly liquid compared to digital assets, thus reducing the risks involved in trading volatile cryptocurrencies. A cryptocurrency exchange links the investor with these and other benefits.

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Crypto futures trading has grown rapidly in a short period. As a result, over 100 crypto exchanges offer futures trading, each with unique features. This article filters through the vast list to bring you the best crypto exchanges for trading crypto futures based on pricing, trading volume, and special features.

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