BitMEX vs Deribit: Fees & Features Compared !?

When comparing BitMEX and Deribit, both exchanges are highly regarded for their focus on derivatives trading but cater to slightly different needs.

BitMEX is known for its high leverage and wide range of futures and perpetual contracts, making it a go-to platform for experienced traders seeking advanced trading tools.

Deribit, on the other hand, specializes in Bitcoin and Ethereum options and futures trading, offering a user-friendly experience with an emphasis on speed and precision in the options market.

In this post, we’ll explore their leverage options, trading fees, security features, and overall performance to help you choose the right platform for your trading needs.

BitMEX vs. Deribit: Comparative Table

Here’s a comparative table to help you understand the differences and similarities between BitMEX and Deribit. This table covers foundational history, products, fees, supported coins, and other crucial features.

Feature	BitMEX	Deribit
Founded	2014 by Arthur Hayes, Ben Delo, and Samuel Reed	2016 by John Jansen
Supported Coins	BTC, ETH, ADA, BCH, BNB, EOS, LTC, TRX, XRP	BTC, ETH
Leverage	Up to 100x for Bitcoin	Up to 100x for Bitcoin futures, 50x for options
Trading Products	Perpetual swaps, futures	Perpetual swaps, futures, options
Trading Volume (24-hour period)	Higher volume compared to Deribit	Lower volume compared to BitMEX
Transaction Speed	Slower	Faster
Deposit Methods	Cryptocurrency only	Cryptocurrency only
User Interface	Feature-rich but has a steeper learning curve	More intuitive and user-friendly
Fees	Market maker: -0.025%, Market taker: 0.075%	Market maker: -0.02%, Market taker: 0.05%
Security	High, with multiple security layers	High, with stringent security protocols

You can evaluate these factors based on your trading needs to decide which platform may be more suitable for you. Whether you prefer higher leverage or faster transaction speeds can significantly impact your choice.

 

BitMEX vs Deribit: Products and Services

BitMEX and Deribit are primarily derivatives exchanges, but their offerings have distinct features.

• Futures and Perpetual Contracts

BitMEX offers a variety of futures contracts and perpetual swaps. You can trade these with leverage up to 100x for Bitcoin (XBT) and 50x Ethereum (ETH). Leverage for other assets like Litecoin and Bitcoin Cash is capped at 20x.

Deribit also provides perpetual swaps and traditional futures. The available leverage is up to 100x for Bitcoin perpetual and 50x for Ethereum. However, Deribit focuses mainly on BTC and ETH, lacking the range of assets available on BitMEX.

• Options Trading

BitMEX does not offer options trading. This is a significant shortcoming for those who need complex hedging tools.

Deribit shines here, providing options for Bitcoin and Ethereum. The leverage for options contracts can increase to 10x, making it appealing for sophisticated traders.

Leverage Comparison

	Maximum Leverage
BitMEX	XBT: 100x, ETH: 50x, Others: 20x
Deribit	BTC: 100x, ETH: 50x, Options: 10x

 

BitMEX vs Deribit: Contract Types

BitMEX and Deribit offer a variety of contract types for traders in the crypto derivatives market.

Inverse Perpetual Contracts

• BitMEX: Provides inverse perpetual contracts primarily for Bitcoin (XBT) and Ethereum (ETH). These contracts are settled in the cryptocurrency itself.
• Deribit: Focuses on Bitcoin (BTC) and Ethereum (ETH) inverse perpetual contracts, which are similar to those offered by BitMEX.

Linear Perpetual Contracts

• BitMEX: Lacks linear perpetual contracts.
• Deribit: Does not offer linear perpetual contracts.

Inverse Futures Contracts

• BitMEX: Features inverse futures contracts for Bitcoin and other cryptocurrencies, allowing you to gain exposure to various assets.
• Deribit supports inverse futures contracts but remains focused on Bitcoin and Ethereum.

COIN-M Futures Contracts

• BitMEX: COIN-M contracts are derivatives settled in cryptocurrency. BitMEX excels in offering these contracts for various assets.
• Deribit: Specializes in COIN-M futures but generally limits them to Bitcoin and Ethereum.

USD-M Futures Contracts

• BitMEX: USD-M futures contracts are those that settle in USDT or USD. BitMEX does not specialize in this category.
• Deribit: Similar to BitMEX, Deribit does not offer future contracts for USD-M.

Options

• BitMEX: Does not provide options trading.
• Deribit: Excels in options contracts, particularly for Bitcoin and Ethereum, allowing you more trading strategies.

Features and Benefits

• BitMEX: Strong in inverse perpetual and futures contracts with high leverage.
• Deribit: Better for options trading and lower transaction times.

Drawbacks

• BitMEX: Higher fees and slower transaction times.
• Deribit: Lower leverage limits compared to BitMEX.

You can select the most suitable platform for your trading needs by comparing these contract types and their features.

 

BitMEX vs Deribit: Supported Cryptocurrencies

BitMEX

BitMEX offers a broad selection of trading pairs. The platform supports Bitcoin (XBT) as its primary cryptocurrency. Additionally, it provides contracts for other top cryptocurrencies, mainly including Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH).

Deribit

Deribit specializes primarily in Bitcoin (BTC) and Ethereum (ETH) derivatives. This includes perpetual swaps, traditional futures, and options contracts. The platform does not support as many cryptocurrencies as BitMEX, focusing instead on providing high-quality, reliable trading for these core assets.

Leverage Comparison

Platform	Cryptocurrency	Maximum Leverage
BitMEX	XBT / BTC	up to 100x
BitMEX	ETH	up to 50x
Deribit	BTC	up to 100x
Deribit	ETH	up to 50x

 

Popular Trading Pairs

On BitMEX, popular trading pairs include XBT/USD and ETH/USD. The variety of options allows you to diversify your trading portfolio.

Deribit, while more focused, offers BTC/USD and ETH/USD pairs, catering specifically to traders interested in these primary cryptocurrencies.

Both platforms cater to different types of traders, with BitMEX offering more variety and Deribit providing a streamlined focus on significant cryptocurrencies.

 

BitMEX vs Deribit: Leverage and Margin Trading

When comparing BitMEX and Deribit, leverage and margin trading are essential aspects.

Leverage allows you to amplify your trading positions and potential returns. BitMEX offers up to 100x leverage on Bitcoin perpetual and traditional contracts, while leverage on Ethereum contracts goes up to 50x. For other agreements, the leverage is limited to 20x.

Deribit also provides up to 100x leverage for perpetual contracts with Bitcoin. When trading options, the leverage decreases, offering up to 10x.

Margin Trading is another critical component. BitMEX offers both isolated and cross-margin trading. This flexibility allows you to choose between segregating your margin for each position or sharing it across multiple positions. Deribit, on the other hand, strictly offers cross-margin trading.

Liquidation Risks are higher with increased leverage. On BitMEX, a lower margin requirement can lead to quicker liquidations if the market moves against your position. Deribit faces similar risks, especially given its high leverage on Bitcoin futures.

Finally, both exchanges have Funding Rates for perpetual contracts to ensure that long and short positions remain balanced. These rates vary based on market conditions and can impact your profit margin.

In summary, while both BitMEX and Deribit offer high-leverage opportunities, they differ in the variety of margin trading options and leverage levels across various products. Choose the exchange that aligns best with your trading strategy and risk tolerance.

 

BitMEX vs Deribit: Trading Volume

BitMEX and Deribit are critical players in the cryptocurrency derivatives market, each offering unique advantages in terms of trading volume.

Trading Volume Comparison

BitMEX boasts a 24-hour derivatives trading volume of around USD 1 billion. It consistently ranks among the top exchanges by trading volume. This high volume indicates strong liquidity, crucial for executing large trades efficiently without significant price slippage.

In contrast, Deribit has lower trading volumes. Its 30-day average trading volume is less than $200 million. While this is relatively lower than BitMEX, it still holds enough liquidity to ensure minimal slippage and efficient order execution for most traders.

Impact on Trading Efficiency

High trading volume on BitMEX can affect trading efficiency positively by reducing slippage. When trading on an exchange with higher volume, your orders are more likely to be matched quickly and at favorable prices.

Deribit, despite its lower volume, processes transactions faster. It can handle orders in milliseconds, which contributes to efficient trading experiences. This fast order execution is beneficial, especially in volatile markets.

Order Execution and Slippage

The substantial volume at BitMEX generally allows for better order execution as there are more participants to take the other side of trades. However, BitMEX can experience outages or slowdowns during peak times due to overload.

Due to its highly efficient order processing, Deribit’s lower trading volume doesn’t significantly hinder your trading experience. You may experience faster execution times at Deribit, which is advantageous in fast-moving markets.

Both exchanges provide robust platforms, but your choice may depend on whether you prioritize higher liquidity or faster transaction times.

 

BitMEX vs Deribit: Futures Trading Fees and Rewards

When considering futures trading fees and rewards, BitMEX and Deribit offer distinctive structures.

Trading Fees:

Exchange	Maker Fee	Taker Fee
BitMEX	-0.025%	0.075%
Deribit	0.00%	0.05%

On BitMEX, you receive a rebate of 0.025% for maker orders, which adds to your profit. Taker orders charge you a fee of 0.075%. In contrast, Deribit charges no fees for maker orders, while taker orders have a lower cost of 0.05%.

Fee Calculation Example:

• For a $10,000 trade on BitMEX as a taker: [ Taker Fee = $10,000 * 0.075% = $7.50 ]
• For a $10,000 trade on Deribit as a taker: [ Taker Fee = $10,000 * 0.05% = $5 ]

Rewards:

BitMEX provides volume-based discounts if larger trading volumes are achieved. Deribit offers rewards through periodic trading competitions and loyalty programs, potentially leading to lower trade fees or bonuses.

Deposit and Withdrawal Fees:

Neither exchange charges deposit fees. Withdrawal fees are based on network costs:

Exchange	Withdrawal Fee
BitMEX	Dynamic network fee
Deribit	Dynamic network fee

 

BitMEX vs Deribit: Deposits & Withdrawal Options

When considering BitMEX and Deribit for trading, it’s crucial to understand the deposit and withdrawal options each platform provides. These options can significantly impact your convenience, the speed of transactions, and associated costs.

Supported Currencies & Payment Methods

BitMEX:

• Supported Currencies: Bitcoin
• Payment Method: Only Bitcoin (BTC) deposits and withdrawals

Deribit:

• Supported Currencies: Bitcoin and Ethereum
• Payment Methods: Bitcoin (BTC) and Ethereum (ETH) deposits and withdrawals

Processing Times

BitMEX:

• Deposits: Generally quick, dependent on the Bitcoin network confirmation times
• Withdrawals: Processed once daily at 13:00 UTC

Deribit:

• Deposits: Typically fast, dependent on the Bitcoin or Ethereum network confirmation times
• Withdrawals: Processed continuously throughout the day, which can offer more flexibility

Minimum and Maximum Amounts

BitMEX:

• Minimum Deposit: None specified
• Minimum Withdrawal: 0.001 BTC
• Maximum Withdrawal: No set limit

Deribit:

• Minimum Deposit: None specified
• Minimum Withdrawal: 0.001 BTC or 0.01 ETH
• Maximum Withdrawal: No set limit

Cost Implications

BitMEX:

• Deposit Fees: None, but standard Bitcoin network fees apply
• Withdrawal Fees: Dynamic fee based on current Bitcoin network conditions

Deribit:

• Deposit Fees: None, but standard network fees for BTC or ETH apply
• Withdrawal Fees: Standard network fees for BTC or ETH

Convenience and Speed

With BitMEX, you are limited to Bitcoin, which could delay your transactions based on the network’s congestion. The once-daily withdrawal processing might restrict your access to funds.

Deribit supports both Bitcoin and Ethereum, providing more flexibility. Continuous withdrawal processing can significantly enhance your convenience and access to funds.

Each platform has unique strengths in deposit and withdrawal options. Your choice will depend on which aspects—currency support, processing speed, or flexibility—are most critical for your trading needs.

 

BitMEX vs Deribit: Native Token Usage

BitMEX does not have a native token. Its operations and fee structures don’t rely on any proprietary cryptocurrency. Instead, it focuses on traditional crypto trading without offering the benefits of holding a native exchange token.

Deribit also lacks a native token. The platform does not provide any form of proprietary cryptocurrency for fee reductions or other exclusive trading benefits.

While some crypto exchanges feature native tokens that offer discounted trading fees or other perks, neither BitMEX nor Deribit employs this approach. This can impact your decision if you prefer trading on platforms offering token-related incentives.

These differences underscore a crucial point: your experience on BitMEX or Deribit will not include navigating or leveraging any native tokens for additional advantages. Instead, you will focus solely on trading and the market without token-based utility infrastructure.

 

BitMEX vs Deribit: KYC Requirements & KYC Limits

When choosing between BitMEX and Deribit for trading, you must consider their Know Your Customer (KYC) requirements and KYC limits as they impact privacy, security, and accessibility.

BitMEX KYC Requirements:

BitMEX requires all users to complete a KYC verification process. You need to provide:

• A government-issued ID
• Proof of address
• A selfie holding the ID

Verification must be completed to deposit, withdraw, or trade.

BitMEX KYC Limits:

• No unverified trading
• Unlimited deposits and withdrawals for verified users

Deribit KYC Requirements:

Deribit has a tier-based KYC system.

• Tier 0: Only email verification. Limited withdrawal of up to 1 BTC daily.
• Tier 1: Requires ID and proof of address. This tier offers higher limits.
• Tier 2: Requires additional documents for even higher limits.

Deribit KYC Limits:

• Tier 0: 1 BTC withdrawal daily
• Tier 1: Higher limits, unspecified
• Tier 2: Even higher limits, unspecified

Comparison:

• Privacy: Deribit offers more privacy at lower tiers with less stringent requirements.
• Security: Both exchanges ensure strong security, but complete verification on BitMEX might provide an extra layer.
• Accessibility: Deribit allows limited use without complete verification, making it slightly more accessible.

Your choice will depend on how important privacy is to you versus the need for higher deposit and withdrawal limits.

 

BitMEX vs Deribit: User Experience

Regarding user experience, both BitMEX and Deribit have their strengths and weaknesses.

BitMEX offers a largely user-friendly web interface. The drag-and-drop feature allows you to manage orders on the charts quickly. The design simplifies trade execution and stops orders.

Deribit’s web interface is also intuitive. It offers a streamlined layout that focuses on ease of access and speed. The clean design lets you quickly navigate between different trading pairs and settings. To know more, check this Deribit futures trading tutorial.

Feature	BitMEX	Deribit
Web Interface	User-friendly, drag-and-drop orders	Intuitive, clean design
Trade Execution	Simplified, chart-based	Fast and accessible
Chart Tools	Comprehensive	Robust

For mobile apps, BitMEX and Deribit aim to provide seamless trading experiences.

BitMEX’s mobile app includes most of the functions found on its web platform. It is designed to help you trade efficiently on the go. The app supports push notifications for trade alerts and market updates. To know more, check this BitMEX leverage trading guide.

Deribit’s mobile app focuses on speed and efficiency. It offers a simplified interface that helps you quickly execute trades. The app includes features like touch ID login and real-time data tracking.

Feature	BitMEX Mobile App	Deribit Mobile App
Design	Efficient push notifications	Simplified touch ID login
Functionality	Full-featured	Focus on speed
User Alerts	Yes	Yes

Both platforms place a strong emphasis on speed and reliability. BitMEX and Deribit are particularly noted for their quick order processing times, which enhance your trading experience.

 

BitMEX vs. Deribit: Order Types

When trading on BitMEX and Deribit, you have several order types at your disposal, each designed to aid in executing different strategies and managing risks.

BitMEX Order Types

1. Market Orders: Execute immediately at the current market price.
2. Limit Orders: Execute at a specified price or better.
3. Stop Orders: Trigger a market or limit order once a specified price is reached.
4. Conditional Orders: Include stop-limit and stop-market orders for precise control.
5. Post-Only Orders: Ensure your order is only added to the order book.
6. Reduce-Only Orders: Ensure the order only reduces an existing position.

Deribit Order Types

1. Market Orders: Execute instantly at the best available price.
2. Limit Orders: Set a target price for execution.
3. Stop Orders: Become market or limit orders once a target price is hit.
4. Conditional Orders: Offer enhanced control, including stop-limit variations.
5. Post-Only Orders: Prevent immediate execution against current orders.
6. Reduce-Only Orders: Ensure the position size is only decreased.

 

BitMEX vs Deribit: Security Measures & Reliability

BitMEX and Deribit are known for their robust security measures that protect your funds and data.

BitMEX uses a multi-signature withdrawal system. This ensures that withdrawals require multiple approvals, adding an extra layer of security. Additionally, the platform conducts thorough audits and employs top-notch industry standards to safeguard user funds.

BitMEX Security Features:

• Multi-signature withdrawal system
• Regular security audits
• Advanced encryption techniques

Deribit also incorporates impressive security mechanisms. Like BitMEX, Deribit uses multi-signature wallets for withdrawals. The platform also employs strict KYC (Know Your Customer) protocols, enhancing security and regulatory compliance.

Deribit Security Features:

• Multi-signature wallets
• KYC protocols
• Regular code audits

Neither BitMEX nor Deribit has experienced a security breach, which speaks to their commitment to security. They continuously update and improve their systems to address any potential vulnerabilities.

Reliability for both exchanges has been commendable. BitMEX has consistently handled high trading volumes without significant downtime. Deribit, while newer, has also maintained high reliability, focusing on fast transaction times and efficient order execution.

Read More: What Is Crypto OTC Trading?

Reliability Factors:

• High uptime and performance
• Fast transaction processing
• Efficient order execution

Both platforms protect user funds and information through rigorous security protocols and reliable performance, providing a secure trading environment.

 

BitMEX vs. Deribit: Insurance Fund

When comparing the insurance funds of BitMEX and Deribit, you see distinct differences in scale and function.

BitMEX: The BitMEX insurance fund is substantial. It’s currently valued at around $300 million. This large fund acts as a buffer, covering substantial losses and shielding traders from the effects of auto-deleveraging. As a trader, this means added security during high volatility.

Deribit: In contrast, Deribit’s insurance fund is significantly smaller. It stands at approximately $1.5 million. Although smaller, it still serves to protect traders from unexpected losses. Deribit’s system includes mechanisms like socialized loss to manage risks effectively.

Here’s a quick comparison:

Exchange	Insurance Fund Value	Key Features
BitMEX	$300 million	Large buffer mitigates risk
Deribit	$1.5 million	Socialized loss strategy

Both exchanges have robust security measures, utilizing cold storage wallets to protect customer funds.

While BitMEX’s larger fund offers more excellent protection, Deribit’s approach to socialized loss also provides security for traders. Understanding these differences helps you make informed decisions based on your risk tolerance and trading strategy.

 

BitMEX vs Deribit: Customer Support

When evaluating a trading platform, customer support plays a critical role.

BitMEX offers customer support primarily through its help center and support tickets. Users can submit a ticket for any issues they encounter, and the support team responds as quickly as possible. BitMEX also provides a comprehensive FAQ section and various educational resources to help traders navigate the platform and understand its features.

Deribit primarily provides support via email. You can open a support ticket and expect responses within a reasonable time frame. Deribit also offers a knowledge base and FAQ section that covers the most common issues and questions. For faster turnaround times, they have additional resources to assist with urgent queries.

Here’s a brief comparison of the support options available:

Feature	BitMEX	Deribit
Support Channels	Help Center, Support Tickets, FAQ	Email, Support Tickets, FAQ
Response Time	Moderate to Fast	Moderate
Educational Resources	Extensive	Comprehensive

Both exchanges have their strengths. BitMEX offers a more extensive range of educational resources, while Deribit aims to provide swift email support.

If you prioritize having multiple support channels and educational materials, BitMEX might be more suitable for you. On the other hand, if you prefer efficient email support, Deribit could meet your needs better.

 

BitMEX vs Deribit: Regulatory Compliance

When comparing BitMEX and Deribit, regulatory compliance is a crucial factor.

BitMEX

BitMEX was initially based in Seychelles. However, it has faced scrutiny due to its regulatory stance. In 2020, BitMEX and its founders faced charges from the U.S. Commodity Futures Trading Commission (CFTC) for operating an unregistered trading platform and violating anti-money laundering (AML) regulations.

BitMEX has since made efforts to improve its compliance measures. The platform now operates under the jurisdiction of the Seychelles Financial Services Authority (FSA) and frequently undergoes internal audits to ensure compliance with AML and Know Your Customer (KYC) regulations.

Deribit

Deribit, based in the Netherlands, also adheres to stringent regulatory requirements. The exchange complies with the European Union’s AML and KYC laws, and it moved its operations to Panama in early 2020 to avoid stricter regulations enforced by the EU.

Despite this, Deribit remains transparent about its compliance measures. The platform uses regular third-party audits to validate its internal controls and has obtained the necessary certifications to operate legally within various jurisdictions.

Feature	BitMEX	Deribit
Primary Jurisdiction	Seychelles (initially), FSA	Panama (formerly Netherlands)
Regulatory Body	Seychelles Financial Services Authority (FSA)	EU AML/KYC laws
Legal Challenges	Faced CFTC charges in 2020	No significant challenges
Compliance Measures	KYC, AML regulations, internal audits	Third-party audits, KYC, AML

Regulatory compliance shapes the trust and reliability of a cryptocurrency exchange. Both BitMEX and Deribit have faced challenges but have taken steps to comply with legal standards, though their approaches differ based on their jurisdictions.

 

Conclusion: Is BitMEX better than Deribit?

When choosing between BitMEX and Deribit, consider your trading needs and priorities.

BitMEX stands out with its extensive range of trading pairs and high-leverage options. This makes it suitable for professional traders seeking advanced tools and high liquidity. The platform’s layout is customizable, enhancing the user experience.

Deribit is reliable and easy to use. It offers significant potential for traders looking to explore newer markets. Its strengths lie in user accessibility and fewer restrictions for international users.

Evaluate these aspects to make an informed decision that best suits your trading style and requirements.

Compare BitMEX and Deribit with other significant exchanges

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