Bybit review

Bybit started as a perpetual futures venue and the engineering priorities still show. Order entry is fast, the liquidation ladder is transparent, and the funding-rate display is better than most competitors. If your trading is mostly perps, this is a platform built for you rather than adapted to you.

Spot came later and is now credible: 600-plus listings, 0.10% both sides, and enough depth in majors to trade size without hunting for liquidity. Below the top pairs, spreads widen faster than on Binance or OKX.

The 2025 cold-wallet exploit is the fact everyone asks about. Roughly $1.4bn in ETH was drained in the largest theft in crypto history. Bybit did not halt withdrawals, sourced replacement liquidity within days, and restored one-to-one reserves. That response is the reason we did not cut the security score further — but a successful attack on cold infrastructure is a real signal, and it is why Bybit scores below Kraken here.

Copy trading is the sleeper feature: you can filter leaders by drawdown and holding period rather than raw return, which is the only way that product is anything other than a lottery.

We scored Bybit against the same nine criteria we apply to every exchange: fees, security, liquidity, features, ease of use, support, country availability, deposit options and long-term track record. Fee figures come from the exchange’s own published schedule (verified 2026-09-04), availability from its terms and support documentation, and the incident history from primary reporting and the exchange’s own disclosures.

This review was written by Vetted Exchanges Editorial Team and fact-checked by Vetted Exchanges Review Board. It is scheduled for re-verification by 2026-12-04, and sooner if Bybit changes its pricing, its country availability, or its security posture. Vetted Exchanges Editorial Team holds no position in Bybit or its token, and the affiliate relationship disclosed above played no part in the score.