Side by side
| Bybit | Binance | |
|---|---|---|
| Max leverage (BTC) | ~100x | ~125x |
| Tier-1 maintenance margin | ~0.5% | ~0.4% |
| Taker fee | ~0.055% | ~0.04% |
| Maker fee | ~0.02% | ~0.02% |
| Margin modes | Isolated + Cross | Isolated + Cross |
| Liquidation engine | Tiered, partial | Tiered, partial |
On paper Binance edges it on raw numbers — slightly lower maintenance margin and fees, slightly higher max leverage. In practice the difference to your liquidation price is tiny; what actually matters is the leverage you pick. The 125x is a marketing number, not a plan.
What it means for your liquidation price
Both use the same basic math: an isolated long is liquidated near entry × (1 − 1/leverage + maintenance margin). Because Binance's tier-1 maintenance margin is about 0.1% lower, your liquidation sits a hair further away for the same leverage — but only on small positions. As your size grows, both exchanges raise the maintenance margin and cut the max leverage in tiers, so the gap shrinks fast. Try your own numbers:
So which should you use?
If you only care about the cheapest fees and the lowest maintenance margin, Binance wins by a small margin. If you value a simpler interface and strong liquidity on alts, plenty of traders prefer Bybit. Honestly, for anyone not running huge size, the choice barely moves your bottom line — your leverage and position sizing decide whether you get rekt, not which exchange you picked. Size every trade with the position size calculator first.
Open a Bybit account → Open a Binance account →Frequently asked questions
Does Bybit or Binance liquidate you sooner?
At the same leverage, Binance's slightly lower maintenance margin pushes liquidation marginally further away on small positions. The difference is small and disappears as position size grows and tiered margin kicks in.
Which has lower fees?
Binance taker fees (~0.04%) are a touch lower than Bybit (~0.055%), and lower again if you pay fees with BNB.
Is 125x leverage worth it?
No. At 125x a ~0.8% move liquidates you. The high cap exists for marketing; survivors use a fraction of it.