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Bybit and OKX both offer spot and futures trading, both require identity verification, and both publish proof of reserves. The differences are in the fees for regular users and in the countries each one serves.
The short answer
- OKX is slightly cheaper for regular users: 0.08% maker on spot against 0.1% at Bybit, and 0.05% futures taker against 0.055%. Its fees depend on your region, so check the schedule for your account.
- Bybit matters if you plan to take a crypto prop challenge: HyroTrader and Crypto Fund Trader both let you trade a challenge through your own Bybit account.
| Bybit | OKX | |
|---|---|---|
| Spot fees, maker / taker | 0.1% / 0.1% for regular users (VIP 0) source | 0.08% / 0.10% for regular users under the global fee schedule; higher for US accounts and EEA spot-only accounts source |
| Futures fees, maker / taker | 0.02% / 0.055% for regular users (VIP 0) source | 0.02% / 0.05% for regular users under the global fee schedule source |
| Identity check | Required: at least Standard verification for all products and services source | Required to trade, deposit and withdraw source |
| Not available in | Including the US, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Syria and Sudan; see the full list source | Including Afghanistan, Canada, Cuba, Hong Kong, India, Iran, Japan, Malaysia, Nepal, North Korea, Syria and certain US jurisdictions; some products are limited in more countries source |
| Proof of reserves | Published regularly, with a Merkle tree you can check your balance against source | Monthly reports with a Merkle tree and zero-knowledge (zk-STARK) proofs source |
| Bybit | OKX |
Checked on the official sites: Bybit: 2026-11-08 · OKX: 2026-11-08.
What the fees mean on a $10,000 trade
Fees are a percentage of the trade size. On a $10,000 trade at the regular-user rates:
- Spot, market order (taker): $10 at Bybit, $10 at OKX.
- Spot, limit order that waits in the book (maker): $10 at Bybit, $8 at OKX.
- Futures, market order (taker): $5.50 at Bybit, $5 at OKX.
- Futures, limit order (maker): $2 at both.
Leverage doesn't change the rate, but it raises the trade size, so the fee in dollars grows with it. A $1,000 position at 10x leverage is a $10,000 trade.
Identity checks
Both exchanges require identity verification. Bybit requires at least its Standard level for all products and services. OKX requires verification to trade, deposit and withdraw. Have an ID document ready before you sign up.
Where they are not available
Neither exchange serves the US through its main platform, and both exclude Canada and Hong Kong, among others. Bybit's list also names mainland China and Singapore. OKX lists Japan, India and Malaysia, among others, and limits some products in more countries. The full lists are on the official pages linked in the table above.
Proof of reserves
Both publish proof of reserves with a Merkle tree, so you can check that your balance is included. OKX publishes monthly and adds zero-knowledge proofs.
Which one to choose
- Trade spot with limit orders often: OKX's lower maker fee adds up.
- Plan to take a prop challenge on Bybit: open the Bybit account you will use there.
- Either way, check that your country is allowed before you deposit.
Risk warning: crypto trading and prop firm challenges are risky. Many traders fail a challenge and lose the fee. Only pay what you can afford to lose. Nothing here is financial advice.