Best Crypto Platforms for Futures Trading in 2025: Leading Derivatives Exchanges
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Is it possible to trade crypto without actually owning it? Yes, futures trading allows traders to hedge risks or speculate on price movements, even during market downturns. This article will help you understand futures contracts, leverage, and the top crypto exchanges for futures trading.
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Summary of the Best Platforms for Futures Trading
 Plus500 | 24 | No fees | Up to 2x | Yes | Try Plus500 |
 BingX | 400+ | 0.02% maker | 0.05% taker | Up to 125x | Yes | Try BingX |
 BloFin | 466+ | 0.02% maker | 0.06% taker | Up to 150x | Yes | Try BloFin |
 BTSE | 126+ | Trading fees: 0.02% maker, 0.055% taker | Up to 100x | Yes | Try BTSE |
 dYdX | 200+ | 0.01% maker | 0.05% taker | up to 50x | Yes | Try dYdX |
 Bybit | 660+ | 0.02% maker | 0.055% taker | up to 100x | Yes | Try Bybit |
 Coinbase | 49+ | 0.4% maker | 0.6% taker | Up to 10x | Yes | Try Coinbase |
 OKX | 388+ | 0.02% maker | 0.05% taker | up to 100x | Yes | Try OKX |
 Kraken | 442+ | 0.02% maker | 0.05% taker | up to 50x | Yes | Try Kraken |
 Margex | 49+ | 0.019% maker | 0.06% taker | up to 100x | Yes | Try Margex |
What is crypto futures trading?
Сrypto futures trading is a type of derivative that allows traders to speculate on the price movements of cryptocurrencies without owning the underlying asset. There are different types of crypto derivatives contracts actively traded on nearly all crypto exchanges: futures, perpetual futures, inverse futures, and options.
What is a futures contract?
Futures are contracts for buying or selling an asset at a predetermined time and price. Traders can trade the asset without actually owning it. The primary function of futures is to speculate on price changes rather than the asset itself.
For example, let's consider two traders: Trader 1 and Trader 2. Suppose the current price of Bitcoin is 100,000 USDT.
- Trader 1 believes the price of Bitcoin will increase in a month.
- Trader 2 believes the price will decrease.
They agree on a futures contract where Trader 1 will buy 1 BTC from Trader 2 for 100,000 USDT in one month, regardless of its actual market price at that time.
Now, after one month (the contract's settlement date has arrived):
- If Bitcoin’s price rises to 105,000 USDT, Trader 1 still buys it for 100,000 USDT as per the contract. This means Trader 1 makes a 5,000 USDT profit, while Trader 2 incurs a 5,000 USDT loss since they are forced to sell BTC below the market price.
- If the price had dropped to 95,000 USDT, Trader 2 would have profited 5,000 USDT, and Trader 1 would have taken the loss.
What are perpetual contracts?
Perpetual futures are futures contracts with no expiration date, meaning traders can keep their positions open for as long as they want, provided that they have enough collateral (margin) to maintain them.
What is the difference between spot and futures?
Spot market involves buying and selling assets for immediate delivery at the current market price. When traders buy crypto on the spot market, they own the actual asset, which can be withdrawn from the exchange, be sold, or used as they wish. The spot market is most commonly used for long-term trading or investing. The basic principle is simple: buy low and sell high. Spot traders focus on the long-term growth of cryptocurrencies, believing their value will increase over time. Key differences between futures and spot trading:
- Funding rate: this feature applies only to perpetual futures. It is a periodic fee exchanged between traders with open long and short positions to keep the futures price aligned with the spot market. When the funding rate is positive, long traders pay short traders. When it is negative, short traders pay long traders.
- Short-term trading: unlike spot investing, futures allow traders to profit from small price movements with more efficient capital use, using leverage (which will be explained later).
- Risk differences: futures trading involves leverage, which means that while potential profits may be higher, losses increase proportionally if the price moves in the wrong direction. In spot trading, even if an asset’s price drops, the trader still owns the asset, and it may recover in the future. In contrast, a liquidated futures position results in a total loss of the margin used, with no chance of recovery.
- Ability to profit in any market condition: in the spot market, traders can only profit when asset prices rise since they buy crypto. In futures trading, profits can be made in both rising and falling markets because traders can open long and short positions.
Advantages of futures trading
- Efficient deposit usage. Leverage allows traders to avoid keeping their entire trading capital on an exchange or using all of it at once. For example, if you have a 10,000 USDT trading deposit, instead of storing all funds on an exchange, you can keep 9,000 USDT in a non-custodial wallet and use only 1,000 USDT for trading with leverage. By adjusting position sizes based on total capital (e.g., using 10x leverage to control positions equivalent to 10,000 USDT), you maintain flexibility and efficient capital allocation while keeping most of your funds available for other uses.
- Convenience. The trading functionality in the futures market is often more advanced than in the spot market. When trading derivatives, there is no need to buy the asset itself—you simply trade based on price movements. Futures are well-suited for short-term and medium-term trading styles, such as day trading, weekly trading, intraday trading, or scalping.
- Hedging. Futures allow traders to hedge their spot positions, protecting against unfavorable price movements. For example, if you hold 1 BTC on the spot market and are concerned about a potential price drop, you can open a short position on futures. If Bitcoin's price falls, your futures profit offsets the losses on your spot holdings, reducing overall risk.
Risks of futures trading
- Increased risk. Trading with leverage comes with the risk of liquidation, especially in highly volatile markets, making it challenging for beginners. Besides the complexity of understanding futures trading tools (such as order types, cross-margin vs. isolated margin, proper position calculation, etc.), traders also face significant psychological pressure.
- Trading fees. When trading with leverage, the commission percentage is calculated not from your margin but from the total trade amount. For example, if you open a position with a 100 USDT margin and 100x leverage, the commission fee is deducted not from 100 USDT but from 10,000 USDT.
Tips for choosing the best futures trading platform for your needs
First of all, it is necessary to consider an exchange that complies with regulations in your country so that you can complete KYC and access all platform features, including deposits, withdrawals, and, of course, futures trading. The next step is to check the reliability and security of the exchange, specifically: the presence of proof of reserves, a history of security incidents, and account protection measures such as two-factor authentication (2FA) and anti-phishing codes.
Next, it's important to choose a platform(s) that suits your needs, as trading is not necessarily limited to a single crypto exchange. Key factors to consider include the number of available trading pairs, an interface that suits your preferences, leverage size, liquidity, risk management tools, order execution speed, and fees.
Conclusion
Futures trading remains one of the most popular and widely used methods in the crypto market, offering traders opportunities to hedge risks, speculate on price movements, and more efficient capital management. In our Top Picks, we have carefully reviewed and selected the best crypto futures exchanges for 2025, helping you explore platforms that provide the necessary features for effective trading.
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