Bittrex is one of the leading US-based crypto exchanges in the market and has grown in popularity in recent years. The exchange offers superior trading experience in the spot market but lags severely in the crypto derivatives trading segment.
If you are looking to trade in crypto derivatives products as efficiently as you trade in the spot market in Bittrex, you can consider the following crypto derivatives exchanges.
Best Bittrex Alternative
- ByBit: $90 Deposit Bonus & 100X leverage. [Recommended]
- PrimeXBT – 35% Extra Bonus On Deposit, 100X leverage on all coins
- Phemex: Up & coming crypto futures and derivatives platform at 20x leverage
- Binance Futures: World’s largest crypto exchange with 100x derivatives
- Deribit: Bitcoin & Ethereum Futures @ 100x leverage
#1. Bybit
Bybit is one of the leading crypto derivatives trading platforms in the market, established in March 2018. It is one of the first exchanges in the market that challenged the clout of traditional crypto exchanges in the derivatives segment and brought much-needed efficiency and transparency.
The exchange serves over 1.6 million registered users and is consistently ranked within the top 5 list of crypto derivatives exchanges by trading volume. It allows trading in inverse perpetual contracts, linear perpetual contracts, and inverse futures contracts and offers maximum leverage of up to 100X.
Other top features of the platform include- smart trading system, a 100K TPS matching engine, a state-of-the-art pricing system to prevent unfair liquidation, a powerful API that refreshes market data every 20ms, and a 99.99% system functionality rate.
Regarding trading fees, Bybit offers a maker rebate of 0.025% and charges 0.075% as taker fees.
Why choose Bybit?
- Advanced and powerful trading platform
- Deep liquidity levels
- Responsive customer support
- No-KYC exchange
#2. PrimeXBT
PrimeXBT is a new crypto derivatives exchange platform launched in early 2019 and has grown exponentially in the last few months. The exchange has been awarded the best platform for margin trading by ADVFN International Financial Awards.
It has a robust trading platform suitable for all types of traders, including beginners, and can execute 12,000 trades per second with an average order execution speed of less than 7.12 ms. Apart from this, the platform is integrated with 12+ liquidity providers.
The exchange offers margin trading in BTC, ETH, LTC, EOS, and XRP and offers maximum leverage of up to 100X on all trading pairs.
Order types supported by exchange include market, limit, stop-market, protection, and one-cancels-the-other (OCO).
PrimeXBT has a flat rate structure and charges a commission of 0.05% on all types of trades.
Why choose PrimeXBT?
- Advanced platform
- Attractive trading fees
- High leverage on all crypto asset
- No-KYC exchange
#4. Phemex
Phemex is one of the latest exchanges to join the crypto derivatives segment and was launched on 25th Nov 2019 by eight ex-Morgan Stanley executives in Singapore.
In a short time, the exchange has successfully onboarded over a million users and records more than $1 billion in daily trading volume. The exchange has an average order response time of less than 1 ms and can execute more than 300K transactions per second.
The platform is integrated with 30+ liquidity providers, which helps it to provide tight spreads on all trading pairs.
It offers to trade in 15 different perpetual futures on leading cryptocurrencies and offers maximum leverage of up to 100X only on BTC/USD pair. On the remaining pairs, the maximum leverage offered is 20X.
Regarding trading fees, it offers a maker rebate of 0.025% and charges a taker fee of 0.075%.
Why choose Phemex?
- Advanced trading account features like sub-accounts, L3 market data
- Modular user interface
- Deep liquidity levels
- No-KYC exchange
#5. Binance Futures
Binance Futures is the crypto derivative platform of Binance that was launched on September 9th, 2019. In a concise period, it has become the top crypto derivatives exchange by trading volume.
It records an average daily trading volume of over $40 billion in the derivatives segment, which is twice that of the second-biggest exchange in the market.
The exchange platform offers a wide range of trading products that include USDT-margined perpetual and quarterly futures. COIN-M futures (Bitcoin-margined perpetual futures), leveraged tokens that can be traded on the spot market, and BTC options. Binance Futures offers maximum leverage of 125X, which is the highest in the industry.
Now coming to trading fees, Binance Futures has a 10-tiered trading fee structure based on 30-day trading volume. The maker fee starts from 0.02% and becomes NIL at the higher level. Similarly, the taker fee ranges from 0.04% to 0.017%.
On USDT-M contracts, Binance Futures offer a discount of 10% on trading fee and when paying using BNB token.
Why choose Binance Futures?
- Leading and established platform
- Wide range of trading products
- Higher leverage rates
- No-KYC exchange
#6. Kraken
Kraken is one of the oldest and secure cryptocurrency exchanges in the market and offers to trade in top cryptocurrencies with up to 50X leverage.
The exchange was established in 2013 and is well-regarded in the market for prioritizing security-related measures. The futures segment offers to trade in five perpetual futures contracts, including XBT/USD, ETH/USD, LTC/USD, BCH/USD, and XRP/USD.
Regarding trading fees, the Kraken Futures platform has an 8-tiered trading fee structure based on 30-day cumulative trading volume. The maker fee ranges from 0.02% to NIL, and the taker fee ranges from 0.05% to 0.01%.
Why choose Kraken?
- Good reputation and established exchange
- Supports bank withdrawal (SEPA & SWIFT)
- Advanced trading options
- Deep liquidity levels
#7. Deribit
Deribit is an institutional-grade crypto derivatives exchange started in 2016 and is a high-frequency trading platform.
It offers to trade in BTC and ETH perpetual futures, traditional futures, and options. You can trade BTC futures with maximum leverage of up to 100X and options using various strategies with leverage of up to 10X.
The exchange allows you to trade via the web interface, mobile, and fastest API in the industry. Its trade matching engine has an order response time of less than 1ms and supports trading software like FMZ Quant, HAASONLINE, and Actant for pro-trading.
It also comes with real-time auditing, liquidation, and risk-management functionality to offer a superior trading experience.
Regarding trading fees, it offers a maker rebate of 0.01% and charges a taker fee of 0.05% on BTC weekly futures. On BTC and ETH perpetual, the maker fee is NIL and charges a taker fee of 0.05%. And, for BTC and ETH options, it charges 0.03% as both maker and taker fees.
Why choose Deribit?
- Safe and trustworthy platform
- Suitable for high-frequency trading
- Competitive trading fee
- Safety (insurance protection fund)
Conclusion
The above Bittrex alternative list includes all the industry-leading and best crypto derivatives exchanges in the market, offering a superior trading experience and helping you tap the various opportunities of profiting from the market effectively.
In terms of being beginner-friendly, Bybit and PrimeXBT are the best in the segment. And, for professional traders, Binance Futures offers the best value.
Therefore, choose the platform according to your trading needs and objectives. Happy Trading.
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