These are the two venues most people compare, and the fee answer is duller than the search volume suggests: on the numbers alone they are nearly the same exchange. Where they diverge is in how you get off the entry tier and what happens around the edges.
The entry tier, side by side
| Market | Bybit | Binance |
|---|---|---|
| Spot maker | 0.100% | 0.100% |
| Spot taker | 0.100% | 0.100% |
| Futures maker | 0.020% | 0.020% |
| Futures taker | 0.055% | 0.050% |
Spot is identical. Futures maker is identical. The only difference at the entry tier is half a basis point on the futures taker side, in Binance's favour.
Half a basis point is 0.005%. On 5,000,000 USDT of monthly volume traded entirely at the taker rate, that is 250 USDT a month — 3,000 USDT a year. Not nothing, but small enough that a single discount lever on the other side wipes it out.
The VIP ladders diverge sharply
This is where the two exchanges actually differ. Binance's ladder is longer and goes deeper, but the rungs are far apart. Bybit's is shorter and the first rung is closer.
| Tier | Bybit taker | Bybit requirement | Binance taker | Binance requirement |
|---|---|---|---|---|
| Entry | 0.0550% | none | 0.0500% | none |
| First rung | 0.0500% | 10M volume or 250K balance | 0.0400% | 15M volume |
| Mid | 0.0350% | 50M volume or 1M balance | 0.0320% | 100M volume |
| Deep | 0.0300% | 200M volume or 10M balance | 0.0170% | 25B volume |
Two practical consequences. If you are trading 10,000,000 to 50,000,000 USDT a month, Bybit's ladder is easier to climb and the asset-balance alternative gives you a second route that Binance does not offer on the same terms. If you are trading in the billions, Binance's floor is far lower — its deepest tier reaches 0.017% taker, which Bybit does not approach.
The asset-balance route is the underrated part. Bybit will put you on a lower tier for holding a balance on the venue, with no volume requirement at all. If you keep working capital there anyway, check whether you are already on a tier you have not claimed.
Token discounts
Binance discounts spot fees paid in BNB, at 25% on spot. Bybit discounts futures fees paid in MNT, at 10%. Binance's is larger and applies to the market with the higher rate, which is a genuine edge for spot traders willing to hold BNB.
The caveat is the same on both sides: you are holding a volatile asset to save a fraction of a fee. If you would not hold the token as a position, the discount is not free.
What is not in the fee table
Three differences matter more than the half basis point, and none of them appear in a fee comparison.
- Liquidity depth. Binance carries deeper books on most major pairs. On a large market order, the slippage difference can exceed the entire fee difference in one fill.
- Regional availability. Both venues have withdrawn from or restricted specific jurisdictions in recent years, and the answer changes by the address on your verification rather than your IP. Check current availability for your own country before choosing.
- Cashback rate. The affiliate share differs by venue and is negotiated separately, so the exchange that is marginally more expensive on paper can end up cheaper after the rebate. Current rates are on the exchanges page.
So which is cheaper?
For a futures trader below 15,000,000 USDT a month: Binance, by half a basis point, which is small enough that cashback rates or liquidity should decide it instead.
For a futures trader between 10,000,000 and 100,000,000 USDT a month: Bybit, because its first two rungs arrive sooner and the balance route offers a second way onto them.
For a spot trader: identical on rates. Binance if you will hold BNB for the 25% discount, otherwise a coin flip.
For a very high volume trader: Binance, decisively. Nothing on Bybit's ladder reaches its deepest tiers.
The larger point is that the gap between these two is narrower than the gap between using either one with fee cashback and using either one without. That difference is 35 to 50% of everything you pay, on either venue.
Check the rate on both