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12 Best Crypto Futures Trading Platforms in 2024

Fact Checked
by May Woods

Gone are the days when popular financial products were relegated to Wall Street and traditional finance. Products like loans, options, leveraged, and margin trading have been available to crypto degens for some time now. And crypto futures trading platforms are no different.

Advanced products like futures create a robust financial market, allow traders to hedge, and give a glimpse of market sentiment around an underlying security or crypto asset. This article is a beginner’s guide to crypto futures that covers the basics of crypto futures trading, the best platforms for crypto futures trading in 2024, and what to look for in a futures exchange.

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What is crypto futures trading?

crypto futures trading

Crypto futures trading is more straightforward than it might seem at first glance. A futures contract, often referred to as futures, is a financial instrument akin to a smart contract. It obligates a party to buy or sell an asset at a predetermined price and date in the future. Using blockchain and smart contracts in this context ensures transparency and efficiency in these financial transactions.

For example, the current price of cryptocurrency “X” is $1,500. You purchase a futures contract for 100 tokens of cryptocurrency “X” at a price of $1,550 per token. This will cost you $155,000. If the price increases to $1,700 per token in three months, you will have made $15,000 ($170,000 for 100 tokens).

Conversely, you can also take out a futures contract, where you sell instead of buying at a future date. For example, if the trader wants to sell at a future date, they can lock in the price at $155,000 with a futures contract. If the price drops to $1,400 per token ($140,000 for 100 tokens), the trader can still sell at $155,000 ($1,550 per token).

Unlike options contracts, the parties of a futures contract are obligated to buy or sell at the expiration date, regardless of profits or losses. Futures allow traders to speculate on crypto market price movements instead of holding the assets themselves.

12 crypto futures trading platforms

Coinbase
Fees
N/A
Other charges
1% withdrawal fee
Deposit fees vary
INX
Fees
Maker: 0.3%
Taker: 0.4%
Credit/ debit card deposit fee: 3.75%
Other charges
Convert crypto to USD: 1.2% ($30 minimum)
Wire (local & international): $35
Kraken
Fees
Maker fee: 0.02% – 0.005%
Taker fee: 0.05% – 0.015%
Other charges
Fees based on your 30-day rolling volume, the more you trade, the lower your fees.
Margex
Fees
Maker fee: 0.019%
Taker fee: 0.06%
Other charges
No deposit or withdrawal fees
Bybit
Fees
Taker fee: 0.06% – 0.03%
Maker fee: 0.01% – 0%
Other charges
No deposit fees
Withdrawal fees very based on cryptocurrency
Binance
Fees
USDT
Maker: 0.02%-0%
Taker: 0.04%-0.017%
BUSD
Maker: 0.012%-(-)0.01%
Taker: 0.03%-0.023%
Other charges
Binance futures fees schedule is categorized by regular and VIP users, USDT or BUSD settled contracts, and 30-day trading volume or BNB balance.
StormGain
Fees
N/A
Other charges
Deposit fees 3.5%-4% with credit card
Withdrawal fees depend on cryptocurrency
MEXC
Fees
Maker fee: 0.00%-0.00%
Taker fee: 0.02%-0.014%
Other charges
MEXC uses a tiered fee structure based on wallet balance or 30-day trading volume.
KuCoin
Fees
Maker fee: 0.02%- (-)0.015%
Taker fee: 0.06%-0.03%
Other charges
Kucoin uses a tiered fee structure based on KCS holdings or 30-day spot trading or futures trading volume.
Gate.io
Fees
Maker: -0.025%
Taker: 0.075%
Other charges
Delivery futures trading fee rate: 0.015%
OKX
Fees
Maker fee: 0.02%-(-)0.015%
Taker fee: 0.05%-0.02%
Other charges
OKX uses a tiered fee structure based on assets (USD), OKB holdings, or 30-day trading volume.
GMX
Fees
Maker fee: 0.01%
Taker fee: 0.01%
Other charges
N/A

Best crypto futures trading platform qualities

If you want to start trading crypto futures, consider the following features and variables when choosing a platform.

User interface

Advanced trading apps with a strategic focus produce trading signals (e.g., distinct market entry and exit points). Trading applications also implement technical indicators and offer complex charting features. The best platforms give users as much information as possible without overwhelming them or overcrowding the UI.

Trading fees and commissions

Commission rates differ from firm to firm, so it is paramount to confirm a fee schedule before deciding to use a crypto futures trading platform. Always remember that if something is free, the user is the product.

Order types

Order types are the “secret sauce” to expert trading strategies. They tell your crypto exchange how and when to execute your order at the best prices. This is a basic feature of nearly all brokers. If your trading platform doesn’t have order types, choose a different trading platform!

Leverage and margin

Futures frequently involve borrowing in order to invest, which calls for a reliable middleman. Due to the leveraged nature of its financial products, the futures market is heavily dependent on the clearinghouse. As a result, clearinghouses impose margin demands large enough to pay the member’s debit balance.

By using margins, you can execute larger or more advanced trades by putting up less money than the total cost of the transaction. Some leverage trading platforms will allow up to 500x leverage. Make sure you know your chosen platform’s margin and leverage offerings.

Crypto futures trading platforms compared

PlatformINXCoinbaseKrakenBybitBinanceStormGainMEXCKuCoinGate.ioOKXGMXMargex
Best FeatureSecurity tokensSecurityAdvanced trading featureInsurance fundTrading bot500x leverageLearning resourcesPro and lite versionMixed collateralGlobal availabilityPermissionlessCopy trading
FeesMaker: 0.3%
Taker: 0.4%
N/AMaker: 0.02% – 0.005%
Taker:
0.05% – 0.015%
Taker: 0.06% – 0.03%
Maker: 0.01% – 0%
USDT Maker 0.02% – 0%
Taker: 0.04% – 0.017%
N/AMaker: 0%
Taker: 0.02% – 0.014%
Maker: 0.02% – (-)0.015%
Taker: 0.06% – 0.03%
Maker: -0.025%
Taker: 0.075%
Maker: 0.02% – (-)0.015%
Taker: 0.05% – 0.02%
Maker: 0.01%
Taker: 0.01%
Maker: 0.019%
Taker: 0.06%
DecentralizedNoNoNoNoNoNoNoNoNoNoYesNo
Fiat supportYesYesYesLimitedLimitedNoLimitedNo fiat withdrawalLimitedLimitedNoLimited
Mobile appYesYesYesYesYesYesYesYesYesYesNoYes

Which is the best platform for you?

Selecting a good crypto futures trading platform is not difficult, but it requires research and understanding of what you seek. Once you learn the basics (e.g., platform fees, trading tools, etc.), you can consider more advanced features, like liquidity or order execution. Each exchange will have unique features that may or may not suit your personal needs.

Frequently asked questions

Disclaimer