Binance, OKX, Bybit, Coinbase, and Kraken ranked by actual trading costs including discounts.
Updated: March 2026The table below shows spot trading fees at the standard (non-VIP) tier for each exchange. The "Best Rate" column includes available referral code discounts and token-based fee payment where applicable.
| Exchange | Maker Fee | Taker Fee | Best Rate | Referral Code |
|---|---|---|---|---|
| 1. Binance | 0.10% | 0.10% | 0.06% | MGBABA (20% off) |
| 2. OKX | 0.08% | 0.10% | 0.064% | OKVIP1234 (20% off) |
| 3. Bybit | 0.10% | 0.10% | 0.08% | — |
| 4. Kraken | 0.25% | 0.40% | 0.25% | — |
| 5. Coinbase | 0.40% | 0.60% | 0.40% | — |
The cost difference is dramatic. A $10,000 trade costs $6 on Binance (with MGBABA + BNB), $6.40 on OKX (with OKVIP1234), $8 on Bybit, $25 on Kraken, and $40-60 on Coinbase. Over a year of regular trading, this adds up to thousands of dollars.
Binance is the world's largest crypto exchange by volume and offers the lowest effective trading fees when you stack available discounts. Register with code MGBABA for 20% off, then enable BNB fee payment for an additional 25% off. The result is a 0.06% spot fee — unmatched by any other major exchange.
OKX has the second-lowest fees and the best P2P marketplace for emerging markets. With code OKVIP1234, maker fees drop to 0.064%. OKX also offers lower withdrawal fees than Binance on most chains and a superior Web3 wallet integration.
Bybit offers competitive fees at 0.10% standard, reducible to 0.08% with their loyalty program. Known for strong derivatives trading with up to 100x leverage and a clean interface. Lacks the P2P coverage of OKX and the token discount of Binance.
Kraken charges 0.25% maker and 0.40% taker at the entry level — four times more than Binance. Kraken is reputable for security and regulatory compliance, making it a reasonable choice for conservative users in the US and EU. But the fee premium is substantial for active traders.
Coinbase charges the highest fees of any major exchange. Simple trades cost 0.40-0.60%, and the convenience fee on instant buys can exceed 1.5%. Coinbase is the easiest platform for US beginners but is not cost-effective for active trading. Its Advanced Trade interface offers better rates (0.40% maker/0.60% taker) but still lags far behind Binance and OKX.
Best overall value: Binance with referral code MGBABA. Lowest fees, deepest liquidity, most trading pairs.
Best for P2P users: OKX with invitation code OKVIP1234. Better local payment coverage, zero P2P fees, low spot fees.
Unless you specifically need a US-regulated exchange (Coinbase/Kraken), Binance and OKX offer dramatically better value. The fee difference alone justifies the switch.
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Binance has the lowest fees at 0.06% with code MGBABA + BNB payment. OKX is second at 0.064% with code OKVIP1234. Coinbase and Kraken are 4-10x more expensive.
Use MGBABA on Binance and OKVIP1234 on OKX. Both give 20% lifetime fee discounts and must be entered during registration.
Binance is much cheaper — 0.06% vs Coinbase's 0.40-0.60%. Use code MGBABA for the best rate. Coinbase is only preferable if you need a US-regulated platform.
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