Bybit vs Kraken
A no-nonsense side-by-side of Bybit and Kraken for crypto futures — leverage, fees, maintenance margin and what each is actually good at. Whichever you pick, plan the trade first with our free calculators.
Pick Bybit if you want a fast matching engine and deep USDT-perpetual liquidity. Pick Kraken if security and long-standing trust matters more. Kraken is cheaper on base taker fees; Bybit has the higher leverage cap. Not sure yet? Practice the strategy free before funding either.
| Bybit | Kraken | |
|---|---|---|
| Max leverage | 100× | 50× |
| Maker fee (base) | 0.02% | 0.02% |
| Taker fee (base) | 0.055% | 0.05% |
| Maintenance margin | ~0.5% | ~0.5% |
| Known for | a fast matching engine and deep USDT-perpetual liquidity | security and long-standing trust |
What a round trip actually costs on each — enter your position size and how often you trade.
Taker fees, charged on the full position both sides. Maker (limit) orders cost less; VIP tiers cut both.
Fees
On base taker fees, Kraken is cheaper (Bybit 0.055% vs Kraken 0.05%). Both reward makers (resting limit orders) with lower fees and cut rates further as your 30-day volume grows. For most active traders the fee gap is small next to the cost of a single bad liquidation — which is why position sizing matters more than chasing the lowest fee. See maker vs taker fees.
Leverage & liquidation
Bybit offers the higher cap (Bybit up to 100×, Kraken up to 50×), but the headline number is a trap: at 100× a roughly 1% move liquidates you. The maintenance margin rate (≈0.5% vs ≈0.5%) also nudges your liquidation price. Check yours before entering with the liquidation calculator, or the per-exchange pages: Bybit · Kraken.
Which should you pick?
If you want a fast matching engine and deep USDT-perpetual liquidity, go with Bybit. If security and long-standing trust matters more, Kraken fits better. Many traders keep accounts on both and route each trade to wherever the liquidity and funding are best on the day. There is no wrong answer — there is only an unplanned trade.
What the fees actually cost you
Base fees look tiny, but they are paid on notional — the full leveraged position size, not your margin — and every round trip pays them twice (in and out). On a $10,000 position taken and closed at market:
| Bybit | Kraken | |
|---|---|---|
| Taker per side | 0.055% | 0.05% |
| Round-trip cost | $11.00 | $10.00 |
| Over 100 trades | $1,100.00 | $1,000.00 |
Over a hundred round trips the gap is $100.00 in Kraken's favour — real money for an active trader, but still small next to a single avoidable liquidation. Both venues charge maker orders (resting limits) less than taker, and cut rates further as your 30-day volume climbs, so patient limit-order entries beat chasing the lowest headline fee. Model any trade first with the funding-fee calculator and PnL calculator.
Safety, regulation & track record
Bybit (founded 2018) publishes proof-of-reserves and has no major custodial hack on record; restricted in several regulated markets and not open to US residents. Kraken (founded 2011) one of the oldest exchanges still running, US-regulated with a strong security record, favouring conservative leverage over headline numbers.
On US access: Kraken is the US-friendly option here, while Bybit does not serve US residents. Whichever you choose, never keep more on any exchange than you are actively trading, enable withdrawal whitelists and two-factor authentication, and confirm current fees, leverage caps and regional availability on the exchange itself before funding.
Fees and limits are approximate base-tier figures and change by tier, region and over time — confirm on each exchange. Exchange links are referral links; we may earn a commission at no cost to you. Educational, not financial advice.