Updated Rules checked 2026-10-21
Choosing between Bybit and KuCoin comes down to what you trade and how you want to get fees back. If you mainly trade futures on major coins such as BTC and ETH, care about platform size, or will pay fees with MNT, choose Bybit; if you want small-cap coins listed only on KuCoin, or want the exchange itself to pay your rebate with no expiry, choose KuCoin. For regular users (VIP 0) on USDT perpetual futures, Bybit charges Maker 0.02% and Taker 0.055%, and KuCoin charges 0.02% / 0.06%; on spot, Bybit charges 0.1% / 0.1%, while KuCoin splits coins into Classes A, B and C: Class A is 0.1%, and Classes B and C are 0.2% and 0.3%.
The biggest difference is how you get a rebate. Sign up to KuCoin with a referral code and the exchange pays the rebate straight to your account; its affiliate program states that invitees who signed up after 2022-09-22 are covered for life. Bybit doesn’t refund fees to invitees, so you need a rebate site such as Fee Otter to get fees back, and the money is paid by a third party. The Fee Otter rebate page lists 40% for Bybit (checked 2026-10-21), which brings futures Taker down to about 0.033%; KuCoin’s referral rebate has to be 45% or higher to beat that. On products, KuCoin lists 814 spot base coins against Bybit’s 390; crypto USDT perpetual contracts are about even, with 521 on Bybit and 517 on KuCoin.
Both have had platform wallets hacked: Bybit lost 401,346 ETH (about 1.5 billion USD) on 2025-02-21, withdrawals kept running, and the gap was filled in about 72 hours; KuCoin’s hot wallets lost about 281 million USD on 2020-09-25, 84% was recovered, and the insurance fund covered the rest. The difference in size is clear: in the latest proof-of-reserves snapshots, users hold 56,131 BTC on Bybit, about 7.6 times KuCoin’s 7,358.67 BTC. Neither exchange lists Taiwan among its restricted regions, and neither offers a direct way to deposit New Taiwan dollars (TWD).
Sign up to KuCoin with the referral code KEVINWU and the exchange automatically refunds 60% of your fees, on both spot (including margin) and futures.
Key points:
1. VIP 0 futures: Bybit 0.02% / 0.055%, KuCoin 0.02% / 0.06%; spot: Bybit 0.1% / 0.1%, KuCoin Class A 0.1%, Class B 0.2%, Class C 0.3%. With platform-token fee payment turned on, Bybit futures Taker drops to 0.0495% and spot to 0.075%, while KuCoin’s KCS discount applies only to spot and margin (Class A 0.08%).
2. Bybit has no automatic exchange rebate. The Fee Otter rebate page lists 40% for Bybit (checked 2026-10-21), paid by Fee Otter; KuCoin’s referral rebate is paid by the exchange directly, and invitees under its affiliate program are covered for life.
3. Fixing a missing referral code: on Bybit you can add a partner’s affiliate code within 14 days of sign-up; KuCoin’s help center has two request entries, “Add an inviter” and “Unbind inviter,” but doesn’t publish the review criteria.
4. Maximum BTC leverage: Bybit 150x, KuCoin 125x; Bybit’s 114 Innovation Zone contracts charge 0.11% Taker.
5. Sending USDT from Bybit to KuCoin over Plasma costs 0 USDT; in the other direction, KuCoin’s cheapest network is also Plasma, at 0.4 USDT.
The data below was checked against official pages on 2026-10-21 (data check date) and is provided for reference.
Bybit vs KuCoin: what’s the difference?
| Item | Bybit | KuCoin |
|---|---|---|
| Spot Maker / Taker (VIP 0) | 0.1% / 0.1% (crypto pairs) | Class A 0.1% / 0.1%; Class B 0.2%, Class C 0.3% |
| USDT perpetual futures Maker / Taker (VIP 0) | 0.02% / 0.055% (Innovation Zone 0.04% / 0.11%) | 0.02% / 0.06%, the same for all USDT perpetuals |
| Platform-token fee discount | MNT: 25% off spot (0.075%), 10% off futures (Taker 0.0495%); not for copy trading, bots or API | KCS: 20% off spot and margin (Class A 0.08%), not for futures |
| VIP by account assets | 100,000 USD in assets gets you VIP 1 (futures Taker 0.04%); 250,000 USD gets you VIP 2 (0.0375%) | The asset route starts at VIP 5 and needs 1,000,000 USDT; holding 1,000 KCS gets you VIP 1, but it only lowers Maker |
| Referral code rebate | No automatic exchange rebate; Fee Otter rebate | 60% |
| Rebate duration and VIP limits | Affiliate commission is for life, but the relationship may end after 180 consecutive days without trading; total fee rebates for VIP accounts are capped at 50% | Affiliate program: invitees who signed up after 2022-09-22 are covered for life; invitees at VIP 3 and above generate no commission |
| Adding a referral code after sign-up | Main accounts with no referrer can add a partner’s affiliate code within 14 days of sign-up (a regular user’s referral code can’t be added) | The help center has an “Add an inviter” request entry, with no published criteria; the 2017 sign-up guide says the invitation code becomes invalid once sign-up is complete |
| Changing referrer | No change request; accounts registered after 2025-09-01 with under 1 USD in trading volume for 180 consecutive days can be reassigned | The help center has an “Unbind inviter” request entry, with no published criteria |
| Identity verification requirement | Standard individual verification is required before using any product or service | Since 2023-08-31, all new users must verify; each person can verify only one account |
| Unverified accounts | Can’t deposit or trade; withdrawals up to 20,000 USDT a day and 100,000 USDT a month | Older unverified accounts can’t deposit or open or add to futures positions; they can sell coins, close positions and redeem, and withdrawals are unaffected |
| Restricted regions | Taiwan not included; the list includes the US, mainland China, Hong Kong, Singapore and Canada, and Japan keeps only Convert and withdrawals | Taiwan not included; the list includes the US, Singapore, mainland China and Hong Kong, Malaysia, France, the Netherlands, and the Canadian provinces of Ontario and British Columbia |
| TWD deposit options | No TWD bank deposits; the P2P TWD market had 0 USDT buy and sell ads (checked 2026-10-13) | No TWD bank deposits; P2P had 0 TWD USDT buy and sell ads (checked 2026-10-18) |
| Spot base coins | 390 (527 trading pairs) | 814 (968 trading pairs) |
| Crypto USDT perpetual contracts | 521, with up to 150x on BTC and ETH; plus 277 stock, ETF, commodity and forex contracts | 517, with up to 125x on BTC and 100x on ETH; plus 166 stock contracts and 9 metal and commodity contracts |
| Crypto contracts with 4-hour funding settlement | 376 (of 521) | 408 (of 517) |
| Copy trading / grid | Classic copy trading (USDT perpetuals), TradFi copy trading; spot and futures grid, DCA, Martingale, combo strategies | Futures copy trading only; spot grid, infinity grid, futures grid, DCA, Martingale, smart rebalance |
| Copy trading profit share | Classic copy trading: 10% to 15% depending on the lead trader’s level, withheld daily and settled every Monday | 10% to 32% depending on the lead trader’s level (from 2026-09-06), settled daily |
| Cheapest USDT withdrawal networks and fees | Plasma 0 USDT (minimum 2), Aptos 0.002; BEP20 0.15, ERC20 0.8, TRC20 1.3 (2026-10-12) | Plasma 0.4 USDT (minimum 5); Aptos 0.5, BEP20 1, TRC20 1.99, ERC20 5.5 (minimum 30) |
| Proof of reserves (latest snapshot) | 2026-09-23, round 40: BTC 104%, ETH 103%, USDT 110% (verified by Hacken) | 2026-09-30: BTC 109%, ETH 117%, USDT 110% (the page doesn’t name the verifier) |
| Major security incidents | 401,346 ETH (about 1.5 billion USD) stolen on 2025-02-21; withdrawals kept running and the gap was filled in about 72 hours | About 281 million USD stolen from hot wallets on 2020-09-25; 84% recovered, the rest covered by the insurance fund |
| Regulatory and legal record (examples) | Malaysia’s Securities Commission ordered it to disable its local website and app on 2024-12-27; Thailand’s SEC has blocked it since 2025-06-28 | Pleaded guilty in the US on 2025-01-27, with fines and forfeiture totaling more than 297 million USD |
Sources and dates: Bybit’s rates, Innovation Zone rates and VIP thresholds were read from Bybit’s trading fee structure on 2026-10-21, and the MNT discount comes from Bybit’s FAQ on paying trading fees with MNT; KuCoin’s futures rates are the figures from its official futures API on 2026-10-21, and its Class A, B and C spot rates, KCS discount and VIP thresholds were read from KuCoin’s VIP fee structure, KuCoin’s guide to paying fees with KCS and How to become a KuCoin VIP on 2026-10-18. Coin counts, the fee classes of trading pairs, contract counts, leverage and funding intervals were counted on 2026-10-21 from both exchanges’ official public APIs (Bybit futures specs, Bybit spot specs, KuCoin spot, KuCoin futures), covering only items currently trading and excluding pre-market contracts; they change as items are listed and delisted. Bybit’s USDT withdrawal fees were read from the Bybit deposit and withdrawal status page on 2026-10-12, and KuCoin’s come from the KuCoin official currency API on 2026-10-21. Sources for the other rows are given in the matching sections below.
How much do Bybit and KuCoin fees differ?
Suppose someone trades 200,000 USDT of USDT perpetual futures and 20,000 USDT of spot each month, all at the official VIP 0 rates. For KuCoin there are three cases: spot only in Class A major coins, Class A with the KCS discount on, and spot entirely in Class C small-cap coins.
| Monthly fees (USDT) | Bybit | Bybit (MNT discount on) | KuCoin (Class A) | KuCoin (Class A, KCS on) | KuCoin (Class C) |
|---|---|---|---|---|---|
| Futures 200,000, all Taker | 110 | 99 | 120 | 120 | 120 |
| Spot 20,000, all Taker | 20 | 15 | 20 | 16 | 60 |
| Total (all Taker) | 130 | 114 | 140 | 136 | 180 |
| Total (all switched to Maker) | 60 | 51 | 60 | 56 | 100 |
The calculation uses both exchanges’ official VIP 0 rates (Bybit checked 2026-10-21, KuCoin futures 2026-10-21, KuCoin spot 2026-10-18): futures cost 200,000 × 0.055% = 110 USDT on Bybit and 200,000 × 0.06% = 120 USDT on KuCoin; Class A spot costs 20,000 × 0.1% = 20 USDT on both, and KuCoin Class C costs 20,000 × 0.3% = 60 USDT. With MNT on, Bybit futures cost 200,000 × 0.0495% = 99 USDT and spot 20,000 × 0.075% = 15 USDT.
When every order is a taker order, Bybit costs 130 USDT a month, or 114 USDT with MNT on; KuCoin with only Class A coins costs 140 USDT, and since KCS only discounts spot, it’s still 136 USDT with KCS on. The gap comes mainly from futures Taker (0.055% against 0.06%), and it widens further because MNT also takes 10% off futures while KCS doesn’t. If everything is placed as Maker, futures are 0.02% on both, so both come to 60 USDT without platform tokens; with them on, Bybit comes to 51 USDT and KuCoin to 56 USDT. MNT has a few limits: your MNT balance has to cover the whole fee, or the whole fee is charged at the normal rate; copy trading, trading bots, API orders and liquidation orders can’t use the discount; and spot and futures have separate switches you need to turn on. You carry the price risk of the platform token yourself.
Each exchange has one thing to check before you place an order. Bybit puts 114 contracts in its Innovation Zone, where VIP 0 pays Maker 0.04% and Taker 0.11%, twice the regular futures rate, so check the rate on the order panel before trading small-cap futures. KuCoin’s spot rate depends on the coin’s class: counting from the official trading pair data on 2026-10-21, of 968 trading pairs, 487 are Class A, 229 Class B and 252 Class C, so nearly half charge 0.2% or 0.3%; you can check which class a coin belongs to on the trading page before you order. KuCoin futures, by contrast, are 0.02% / 0.06% across the board, with no classes. Both exchanges let you make sure an order is placed as Maker: Bybit calls it Post-Only, and KuCoin’s futures order types also call it Post Only; an order that would fill immediately is canceled by the system (KuCoin futures order types). For details, see Maker vs Taker fees. Futures fees are charged on position value, not margin. Leverage magnifies the position, and if the price moves against you, the position may be liquidated and you lose your margin.
For larger accounts: Bybit’s asset thresholds are much lower
On Bybit you can move up VIP levels on account assets, and meeting either the asset or the trading volume threshold is enough: 100,000 USD in assets gets you VIP 1, with futures Taker down to 0.04% and spot Taker to 0.08%, which in the example above comes to 200,000 × 0.04% + 20,000 × 0.08% = 96 USDT; 250,000 USD gets you VIP 2, with futures Taker at 0.0375%. KuCoin’s asset route only starts at VIP 5 and needs 1,000,000 USDT; VIP 1 can be reached by holding 1,000 KCS, but VIP 1 and VIP 2 only lower Maker, and futures Taker doesn’t drop from 0.06% to 0.053% until VIP 4 (How to become a KuCoin VIP, checked 2026-10-18). So with account assets between 100,000 and 1,000,000 USD, you have levels to move up to on Bybit, while on KuCoin assets alone won’t raise your level. Moving up VIP levels also affects rebates: KuCoin invitees generate no commission once they reach VIP 3 or above, and on Bybit, total fee rebates for VIP accounts under an affiliate are capped at 50%. These assets have to stay on the exchange long term, a risk you need to weigh yourself; for a full comparison of thresholds across exchanges, see Exchange VIP levels compared.
After rebates, which is cheaper for futures Taker?
A rebate returns part of the fees you actually paid, so the rate after rebate = official rate × (1 − rebate percentage). KuCoin’s futures Taker is 0.005 percentage points higher than Bybit’s and has to be made up through the rebate, so you can work backward to find the threshold:
| Bybit scenario compared | Bybit futures Taker actually paid | Minimum KuCoin rebate needed |
|---|---|---|
| No rebate, MNT off | 0.055% | 8.3% |
| No rebate, MNT on | 0.0495% | 17.5% |
| Fee Otter 40%, MNT off | 0.033% | 45% |
| Fee Otter 40%, MNT on (assuming the rebate is calculated on the discounted fee) | 0.0297% | 50.5% |
Sources and dates: both exchanges’ official VIP 0 futures Taker rates (2026-10-21) and the Fee Otter rebate page (checked 2026-10-21). The formula is 1 − Bybit rate paid ÷ 0.06%, for example 1 − 0.033 ÷ 0.06 = 45%. Neither Bybit nor Fee Otter states how Fee Otter calculates the rebate once MNT is on, so the fourth row is only an assumption.
For KuCoin’s current referral rebate percentage, see the “Referral code rebate” row in the comparison table or the calculator below, and compare it with the thresholds above to see which is cheaper. Two more things to factor in: KuCoin’s rebate is paid by the exchange straight to your account, while Bybit’s rebate sits in a third-party account and has to be withdrawn separately; and Bybit’s Innovation Zone contracts charge 0.11% Taker, so for those coins KuCoin’s 0.06% costs nearly half as much.
Calculator: KuCoin futures (Taker 0.06%)
| Monthly volume | Fees (0.06%) | Auto rebate (60%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 6 USDT | 3.6 USDT | 2.4 USDT |
| 100,000 USDT | 60 USDT | 36 USDT | 24 USDT |
| 1,000,000 USDT | 600 USDT | 360 USDT | 240 USDT |
Example at a futures fee rate of 0.06% and the current 60% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
Sign up with this site’s KuCoin referral code and the exchange’s automatic rebate is 60%; the percentage updates in sync with the exchange and is calculated on the trading fees you actually pay. Class B and Class C coins charge 2 and 3 times the fee, and the rebate grows in proportion to the amount actually paid; KuCoin doesn’t state officially how the rebate is calculated on fees after the KCS discount.
Bybit: get fees back through Fee Otter
Bybit’s referral program gives invitees trading task rewards. The Bybit referral program FAQ was updated on 2026-10-10: for invitees who sign up after 2026-10-10 12:00 (UTC), completing a first trade of 50 USD or more within 14 days earns 50 USDT each for the invitee and the referrer; when cumulative trading volume within 30 days of the first trade reaches 500 USD and 10,000 USD, each side gets another 100 USDT, up to 500 USDT for the two combined. Bybit doesn’t say officially that invitees get a share of fee rebates (checked 2026-10-21).
The Fee Otter rebate page lists 40% for Bybit (checked 2026-10-21), all of it an extra rebate from Fee Otter, paid by Fee Otter, not by the exchange or by Kevin Wu. The trader above pays 110 USDT in futures fees on Bybit; minus 40%, that’s 66 USDT. Below is a screenshot of my own Fee Otter dashboard, showing Bybit rebates actually credited:
According to the Fee Otter rebate page, the extra rebate settles the previous day’s fees every day and is credited to your Fee Otter account; once you request a withdrawal, it’s paid in USDT over BEP20, currently with a minimum of 1 USDT per withdrawal. This money carries the risk that the third party changes its percentages or stops operating, and the percentage on Fee Otter’s page at the time is what counts. For the steps to sign up and link your UID, see Bybit rebate: get fees back with Fee Otter; fees after rebates for each exchange are listed in Actual fees after referral rebates. For the full rates, VIP tables and withdrawal fees, see Bybit fees and KuCoin fees; how futures costs are calculated is explained in How futures fees are calculated, and you can try your own numbers in the perpetual futures cost calculator.
How do Bybit and KuCoin futures rules differ?
The two list about the same number of crypto contracts; the differences are in leverage caps, how larger positions are handled and liquidation rules. The table below uses figures read from the official APIs and help pages on 2026-10-21:
| Item | Bybit | KuCoin |
|---|---|---|
| Maximum BTC leverage | 150x (positions up to 300,000 USDT) | 125x (positions up to 250,000 USDT) |
| Maximum ETH leverage | 150x (positions up to 300,000 USDT) | 100x (positions up to 500,000 USDT) |
| Most common leverage cap | 25x (190 of 521) | 30x (128 of 517) |
| BTC tier 1 maintenance margin rate | 0.33% | 0.40% |
| As positions grow | Tiered by position value; above 300,000 USDT, BTC drops to a maximum of 100x | Isolated margin defaults to tier 1 and the system doesn’t raise it automatically; you have to switch the risk limit tier manually first |
| Funding settlement interval (crypto contracts) | 376 every 4 hours, 142 every 8 hours, 3 every 1 hour | 408 every 4 hours, 108 every 8 hours, 1 every 1 hour |
| Funding rate caps | BTC ±0.333%; 195 contracts ±2%, 151 ±2.5% | BTC ±0.3%; 479 contracts ±2% |
| When liquidated | No liquidation fee on perpetual and delivery contracts; if margin still falls short of maintenance margin, the position is closed at the bankruptcy price | The position is reduced tier by tier at the bankruptcy price, and any surplus from fills better than the bankruptcy price goes to the insurance fund; the futures terms of use state that users are responsible for any negative balance after liquidation |
Sources and dates: leverage, maintenance margin rates, funding intervals and caps come from the Bybit risk limit API, the KuCoin risk limit API and both exchanges’ contract list APIs, read on 2026-10-21; the rules come from Bybit’s fee overview, Bybit’s liquidation process, KuCoin’s isolated margin explainer, KuCoin’s insurance fund explainer and the KuCoin futures terms of use (checked 2026-10-18).
The gap between 150x and 125x only matters for BTC and ETH, and the maximum leverage only applies to the first position tier. What most people run into is the cap on small-cap contracts: on Bybit the most common cap is 25x, on KuCoin 30x. Funding fees are paid between longs and shorts; the platform doesn’t collect them, and they don’t earn a rebate. About 79% of KuCoin’s crypto contracts settle every 4 hours, against about 72% on Bybit, so the same 0.01% rate is paid 6 times a day; the caps are also wide on both, and a 10,000 USDT position that hits a ±2% cap pays 200 USDT in a single settlement. If you often hold small-cap futures overnight, check the funding rate and countdown on the trading page before settlement; for how it works, see What is the funding rate (Bybit’s introduction to funding rates, KuCoin’s funding fee explainer). Pay particular attention to KuCoin’s isolated margin risk limits: for a BTC position above tier 1’s 250,000 USDT, you have to switch tiers manually first.
The higher the leverage, the closer the liquidation price is to your entry price, and if the price moves against you, the position may be liquidated and you lose your margin. You can estimate the liquidation price with the liquidation price calculator; for the difference between cross and isolated margin, see Cross vs isolated margin, and the steps to enable futures and set take-profit and stop-loss on each exchange are in the Bybit futures guide and the KuCoin futures guide.
How do Bybit and KuCoin referral rebate rules differ?
On KuCoin, the exchange pays the rebate straight to the invitee; Bybit has no such mechanism, so rebate sites earn commission through Bybit’s affiliate program and pass part of it on to you:
| Rule | Bybit (through Fee Otter) | KuCoin |
|---|---|---|
| Who pays the rebate | Paid by Fee Otter, credited to your Fee Otter account | Paid automatically by the exchange to your KuCoin account |
| Markets covered | Spot and futures, according to the Fee Otter rebate page | Spot (including margin and trading bots), ETFs and futures; API trading generates no commission |
| Calculation base | Affiliate commission is calculated on “trading fees − market maker rebates − bonuses / vouchers” | Trading fees actually paid |
| Duration | Affiliate commission is for life, but the relationship may end after 180 consecutive days without trading | Affiliate program: invitees who signed up after 2022-09-22 are covered for life; the regular referral program says referrers earn for 365 days |
| VIP limits | Total fee rebates for VIP accounts under an affiliate are capped at 50% | Invitees at VIP 3 and above generate no commission |
| Payout timing | According to the Fee Otter rebate page: settled daily for the previous day, withdrawals paid in USDT over BEP20 | The referral program states it’s settled daily and paid the next day, in the same coin as the fee |
| Adding a referral code later | Main accounts with no referrer can add a partner’s affiliate code within 14 days of sign-up; it can’t be canceled or changed once added | The help center has “Add an inviter” (submit a request to add an inviter manually), and the public pages don’t state the criteria or review time; the 2017 sign-up guide says the invitation code becomes invalid once sign-up is complete and can’t be added manually |
| Changing referrer | No change request; for accounts registered after 2025-09-01 with under 1 USD in trading volume for 180 consecutive days, coming back to trade through a new partner’s link reassigns the account | The help center has “Unbind inviter” (submit a request to unbind your inviter), and the public pages don’t state the criteria; older accounts registered before 2023-08-31 and never verified can open a new account after checking with customer support first |
| What to watch when signing up | To get a rebate site’s rebate, sign up through its link; after 14 days it can’t be added | Don’t switch pages during sign-up, or the invitation becomes invalid; registering accounts in bulk to farm commission or rebates is prohibited |
Sources and dates: Bybit’s rules come from the Bybit affiliate program FAQ, Bybit’s guide to adding and checking an affiliate code (updated 2026-06-05, checked 2026-10-21) and section 7.7 of the Bybit affiliate terms, and the payout method comes from the Fee Otter rebate page (checked 2026-10-21); KuCoin’s rules come from the KuCoin referral program, the KuCoin affiliate program announcement (checked 2026-10-21), the KuCoin sign-up guide (published 2017-10-13) and the self-service entries in the KuCoin help center (checked 2026-10-21).
If you’ve already signed up, Bybit’s rules are clearer: within 14 days of sign-up you can add a partner’s affiliate code under “Join an Affiliate’s Community” on the account info page, while the referral program FAQ states that adding a regular user’s referral code after sign-up doesn’t make you an invitee. After 14 days, the only route Bybit states officially is reassignment after 180 days of inactivity; for details, see Changing your Bybit referral code. KuCoin says two different things officially: the 2017 sign-up guide says “the invitation code becomes invalid once sign-up is complete and can’t be added manually,” while the self-service section of the help center, checked on 2026-10-21, has two request entries, “Add an inviter” and “Unbind inviter.” The public pages give only those two lines, though, and don’t say which accounts qualify, how long it takes or whether a request will be approved, so treat them as requests you can submit, not a guarantee that a code can be added or changed. The safest approach is still to enter the referral code when you sign up; see the KuCoin referral code rebind guide. To check who you’re bound to, see How to check whether you’ve bound a referral code; to weigh rebate cards, vouchers and rebates, see Fee vouchers vs referral rebates.
Do Bybit and KuCoin both require identity verification? What should users in Taiwan know?
Identity verification: both require verification before you can use them normally. Bybit states that every product and service requires at least Standard individual verification, and unverified accounts can’t deposit or trade but can still withdraw, up to 20,000 USDT a day and 100,000 USDT a month; after Standard verification the limit is 1,000,000 USDT a day, and each person can have only one verified account (Bybit individual KYC FAQ, Bybit benefits by KYC level, checked 2026-10-21). Since 2023-08-31, KuCoin has required new users to complete verification, submitting an ID document and completing face verification, and each person can verify only one account; older accounts registered before then and never verified can’t deposit or open or add to futures positions, and can only sell coins, close positions and redeem Earn products, but withdrawals are unaffected (KuCoin identity verification explainer, updated 2026-08-14). For the steps and the documents to prepare, see the Bybit identity verification guide and the KuCoin KYC guide; for each exchange’s withdrawal limits, see Exchange withdrawal limits compared.
TWD deposits and withdrawals: neither offers direct New Taiwan dollar (TWD) bank deposits. When we checked the Bybit P2P TWD market on 2026-10-13, there were 0 USDT buy ads and 0 sell ads; when we checked KuCoin P2P on 2026-10-18, TWD USDT buy and sell ads were also both at 0. The route that actually works is the same for both: buy USDT with TWD on a local exchange in Taiwan (such as MAX or BitoPro), then transfer it to Bybit or KuCoin; to cash out, reverse the route back to your bank account in Taiwan. The cost of sending back to a local exchange differs a lot: from Bybit, sending to MAX over Aptos costs 0.002 USDT and to BitoPro over Polygon 0.07 USDT; from KuCoin, the cheapest route to MAX is Aptos at 0.5 USDT and to BitoPro Polygon at 0.8 USDT (MAX and BitoPro deposit networks based on 2026-10-12 data). For fees on each network, see USDT withdrawal fees compared.
Regions and apps: Taiwan isn’t on Bybit’s list of service-restricted countries (updated 2026-10-16), nor among the restricted regions in section 17 of the KuCoin terms of use (updated 2026-09-29). Neither serves the US, mainland China, Hong Kong or Singapore. KuCoin also restricts Malaysia, France, the Netherlands, and the Canadian provinces of Ontario and British Columbia; Bybit restricts all of Canada, and in Japan it keeps only Convert and withdrawals under a 2026-07-24 announcement. Not being listed in the terms doesn’t mean a service works there: Malaysia’s Securities Commission ordered Bybit to disable its local website and app on 2024-12-27 (Securities Commission Malaysia), and Thailand’s SEC has blocked Bybit since 2025-06-28 (The Block). Section 49A of KuCoin’s terms prohibits using a VPN or proxy server to hide your location, so you may be unable to manage your positions while you’re in a restricted region; keep this in mind when traveling. When checked on 2026-10-21, both apps were available on the Taiwan App Store: the Bybit app (developer Bybit Fintech Limited) and the KuCoin app (developer Kugame Global Limited). For which countries each exchange restricts, see Exchange restricted countries.
What are Bybit and KuCoin each good at?
Bybit‘s strengths are platform size and derivatives tools. Users hold about 7.6 times as much BTC on Bybit as on KuCoin; it offers options, TradFi contracts and contracts for difference (CFDs), MNT discounts both spot and futures, no extra fee is charged when a perpetual position is liquidated, and unverified accounts can still withdraw their money.
- Copy trading: Classic copy trading supports only USDT perpetuals; lead traders take 10% to 15% of net profit depending on their level, withheld daily and settled every Monday at 03:00 (UTC), and if the week ends at a loss, the withheld profit share is returned (Bybit copy trading profit sharing explained); copy trading can’t use the MNT discount.
- Trading bots: spot grid, futures grid, DCA, Martingale and combo strategies (Bybit trading bots).
- Options and TradFi: options at VIP 0 are Maker 0.02% and Taker 0.03%; USDT perpetuals include 277 stock, ETF, commodity and forex contracts (official API, 2026-10-21).
- Earn: on 2026-10-21, flexible USDT paid 6.99% a year on the first 100 USDT and 1.99% on the amount above that (Bybit Earn API); there are also Launchpool and the Bybit Card.
KuCoin‘s strength is its range of spot coins. By the official API on 2026-10-21, it lists 814 spot base coins, more than twice Bybit’s, so if you want low-market-cap coins, KuCoin gives you more choice; the trade-off is that nearly half its trading pairs charge 0.2% or 0.3%, and lesser-known coins usually have lower trading volume, so you may want to check order book depth before placing an order. Its futures also include 166 stock contracts and 9 metal and commodity contracts.
- Copy trading: futures copy trading only. The profit share is calculated on realized PnL after fees and funding fees, charged only on cumulative profit above what has already been shared, and settled daily at 00:00 (UTC, 08:00 Taiwan time); you can set 10 to 10,000 USDT per lead trader (KuCoin copy trader guide). Under the Elite+ program from 2026-09-06, lead traders take 10% to 32% depending on their level (KuCoin Elite+ announcement).
- Trading bots: spot grid, Infinity Grid, Smart Rebalance, DCA, Martingale, futures grid and DualFutures AI. Spot bots get 20% off the VIP 0 rate on some coins; futures bots charge a flat 0.06%, whether Maker or Taker (KuCoin trading bot explainer).
- Earn and more: flexible USDT (Simple Earn) paid 1.30% on 2026-10-13, with no tiers, and fixed terms ranged from 1.80% for 7 days to 4.10% for 365 days (KuCoin Earn); there are also spot margin and coin-margined futures.
Earn rates float; for a comparison across exchanges, see USDT flexible savings rates compared, and for bots, see Exchange grid bots compared. Copy trading also costs fees: copying a lead trader who makes 40 round trips a month with 1,000 USDT at 5x leverage, all as Taker, costs 5,000 × 0.055% × 2 × 40 = 220 USDT on Bybit and 240 USDT on KuCoin. Neither exchange states officially whether copy trading fees count toward referral rebates. For the full costs, see The cost of copy trading, and for how grids work, see What is grid trading.
How do Bybit and KuCoin compare on proof of reserves and security?
Both publish proof of reserves, and both let you use a Merkle tree to confirm your own account is included:
- Bybit: published monthly and verified by the security firm Hacken. When checked on 2026-10-21, the latest was still round 40, the snapshot from 2026-09-23 03:00 (UTC): BTC 104%, ETH 103%, USDT 110%; users hold 56,131 BTC and the platform 58,721 BTC (Bybit proof of reserves page, Hacken verification report).
- KuCoin: when checked on 2026-10-21, the latest was the snapshot from 2026-09-30: BTC 109%, ETH 117%, USDT 110%; users hold 7,358.67 BTC and the platform 7,994.37 BTC (KuCoin proof of reserves page). The page says it’s verified by an independent third party but doesn’t name it.
KuCoin’s reserve ratios are higher and its snapshot is more recent; Bybit is far larger, with users holding about 7.6 times as much BTC as on KuCoin. But proof of reserves can’t show where the extra coins come from or whether there are matching liabilities. The major incidents for each are:
- Bybit hack, 2025-02-21: an ETH multisig cold wallet was tampered with during a transfer to a warm wallet, and 401,346 ETH was stolen; an FBI notice on 2025-02-26 attributed it to North Korea, with the amount at about 1.5 billion USD (FBI notice). Bybit said client assets remained backed 1:1 and withdrawals were processed as normal, and within about 72 hours it replaced about 447,000 ETH through emergency loans, large deposits and purchases (The Block, CNBC report).
- KuCoin hack, 2020-09-25: the private keys to several hot wallets were obtained, with losses of about 281 million USD. On 2020-11-11 the CEO announced that 84% had been recovered (The Block), and the remaining roughly 16%, about 45.55 million USD, was covered by the insurance fund (Decrypt). Deposits and withdrawals were suspended and then restored in stages.
- KuCoin guilty plea, 2025-01-27: its operator, Peken Global, pleaded guilty in the US to operating an unlicensed money transmitting business, with a 112.9 million USD fine plus 184.5 million USD in forfeiture, more than 297 million USD in total, and is to exit the US market for at least two years (US Attorney’s Office for the Southern District of New York). In 2025, Canada’s Financial Transactions and Reports Analysis Centre imposed an administrative penalty of 19.552 million CAD on Peken Global, which KuCoin has appealed (FINTRAC). This is a compliance case, not a loss of user assets.
- Regulators elsewhere: Japan’s Financial Services Agency has issued warnings to both Bybit and KuCoin for operating without registration, and in February 2025 it also asked Apple and Google to remove apps including Bybit and KuCoin in Japan (The Defiant); the unregistered platforms named by the Philippine SEC in August 2025 also include both (Cointelegraph). KuCoin was also on India’s 2023-12-28 list of notices to unregistered platforms (The Statesman).
The two hacks were handled differently: Bybit made up the gap with company loans and purchases, and withdrawals never stopped; KuCoin relied mostly on recovery, with the insurance fund covering the rest, and deposits and withdrawals were suspended and then restored in stages. On protection mechanisms, this site found no separate user protection fund at Bybit, though its futures have an insurance fund; KuCoin used its insurance fund in 2020, but we couldn’t find its current size, and its futures terms of use state that users are responsible for any negative balance in a futures account after liquidation. Proof of reserves only reflects assets at the moment of the snapshot and isn’t deposit insurance; coins you don’t trade for long periods can be moved to a wallet you control yourself, and for account protection settings, see Exchange account security settings. To compare the records of 13 exchanges side by side, see Exchange security records and Exchange proof of reserves compared; the full details for each are in the Bybit review and the KuCoin review.
What should you watch for when moving from Bybit to KuCoin (or the other way)?
We suggest moving platforms in this order:
- Sign up for the new account first, entering the referral code on the sign-up page. When moving to KuCoin, don’t switch pages during sign-up, since adding a code later means submitting a separate request with an uncertain outcome; when moving to Bybit, sign up through a rebate site’s link if you want its rebate, and add the affiliate code within 14 days at the latest.
- Complete identity verification on the new account; both exchanges require verification before you can deposit.
- On the old account, close positions, cancel orders and redeem Earn products first, move the USDT you’re transferring back to your funding or spot account, then withdraw.
- On the receiving exchange’s deposit page, choose USDT and the network, and copy the deposit address for that network; on the sending exchange, choose the same network. The first time you send to a new address, send a small amount first to confirm it arrives, then send the larger amount.
There are no internal transfers between the two, so USDT has to go out as an on-chain withdrawal; the fee is a fixed amount per withdrawal, charged by the sending exchange. The table below covers the 11 networks both exchanges list and keep open in both directions, in USDT, with each cell showing “fee (minimum withdrawal)”:
| Network | Withdrawing from Bybit to KuCoin | Withdrawing from KuCoin to Bybit |
|---|---|---|
| Plasma | 0 (minimum 2) | 0.4 (minimum 5) |
| Aptos | 0.002 (no official minimum listed) | 0.5 (minimum 1) |
| Polygon | 0.07 (minimum 1) | 0.8 (minimum 1.6) |
| Arbitrum One | 0.1 (minimum 1) | 1 (minimum 5) |
| Avalanche C-Chain | 0.1 (minimum 10) | 1 (minimum 2) |
| TON (Memo required) | 0.15 (minimum 1) | 0.5 (minimum 1) |
| BEP20 (BNB Smart Chain) | 0.15 (minimum 10) | 1 (minimum 10) |
| KAVA EVM | 0.3 (minimum 0.3) | 1 (minimum 3) |
| Solana | 0.5 (minimum 10) | 1.5 (minimum 3) |
| ERC20 | 0.8 (minimum 6) | 5.5 (minimum 30) |
| TRC20 | 1.3 (minimum 2.6) | 1.99 (minimum 4) |
Sources and dates: Bybit’s figures were read from the Bybit deposit and withdrawal status page on 2026-10-12, and KuCoin’s from the KuCoin official currency API on 2026-10-21; KuCoin’s Optimism network had deposits suspended that day, so it isn’t listed. When checked on 2026-10-21, that Bybit page marked both USDT deposits and withdrawals as “Limited Service,” meaning some networks are restricted, so check which networks are open on the withdrawal page before transferring. Bybit labels its Plasma and Arbitrum One networks as USDT0, while KuCoin’s network names don’t mention USDT0; KuCoin’s ERC20 also has a separate 0.2% rate field in the API. Withdrawal fees change with on-chain conditions, so the amount shown on the withdrawal page before you confirm is what counts.
What stands out with this pair is that sending from Bybit is much cheaper. From Bybit, the cheapest options are Plasma (0) and Aptos (0.002); from KuCoin, even the cheapest, Plasma, costs 0.4 USDT, with a minimum withdrawal of 5 USDT. Using Plasma both ways, sending 1,000 USDT from Bybit to KuCoin and back costs 0.4 USDT in total; using TRC20 both ways costs 3.29 USDT. KuCoin’s ERC20 costs 5.5 USDT with a 30 USDT minimum, so it’s best avoided. Pick the network that matches on both sides; choosing the wrong one may mean losing the funds, and if it happens, start with What to do if you sent crypto on the wrong network. On TON, also enter the Memo (tag) shown on the deposit page. For full network fees across 13 exchanges, see USDT withdrawal fees compared. Referral rebates only refund trading fees, not withdrawal fees.
Who are Bybit and KuCoin best for?
- Beginners mainly buying major coins on spot: either works; it depends on how you want to get your rebate. Class A major coins are 0.1% on both; Bybit drops to 0.075% with MNT and KuCoin to 0.08% with KCS. KuCoin’s referral rebate is paid by the exchange straight to your account, with no third-party account to open, but the referral code has to be entered at sign-up.
- Futures traders who often use market orders (VIP 0): it depends on KuCoin’s rebate percentage. Bybit’s 0.055% minus Fee Otter’s 40% is 0.033%; if KuCoin’s percentage in the “Referral code rebate” row of the comparison table is 45% or more, KuCoin is cheaper, and below 45%, Bybit plus Fee Otter is cheaper. Without any rebate, Bybit’s 0.055% is lower than KuCoin’s 0.06%.
- Frequent small-cap buyers: choose KuCoin. It lists 814 spot base coins, more than twice Bybit’s, but check the fee class before you order, as Class C is 0.3%. For major coins listed on both, before rebates, spot costs the same and futures are cheaper on Bybit.
- High-leverage BTC and ETH traders, or anyone wanting options or TradFi contracts: choose Bybit. BTC and ETH both go up to 150x, against 125x and 100x on KuCoin; Bybit also has options and 277 stock, ETF, commodity and forex contracts.
- Account assets of 100,000 to 1,000,000 USD: choose Bybit. 100,000 USD in assets already gets you VIP 1 with a futures Taker of 0.04%, while KuCoin’s asset route only starts at 1,000,000 USDT.
- Those who value platform size or often send USDT back to a local exchange: choose Bybit. Users hold about 7.6 times as much BTC on Bybit as on KuCoin, and sending to MAX over Aptos costs 0.002 USDT, while KuCoin’s cheapest is 0.5 USDT. KuCoin’s reserve ratios are higher, but it’s much smaller, and we couldn’t find the size of its insurance fund.
Many traders open accounts on both: major-coin futures and options on Bybit, and small-cap coins listed only on KuCoin traded there, which also spreads the risk of a single platform running into trouble. Sending USDT between them over Plasma costs 0.4 USDT for a round trip. You need to complete identity verification on each separately; on KuCoin, enter the referral code at sign-up, and on Bybit, sort out the rebate site within 14 days of sign-up at the latest.
How we checked the data in this article
Bybit’s rates, VIP thresholds, MNT discount, identity verification, rules for adding a code later, referral program and restricted regions; KuCoin’s futures rates, referral and affiliate rules, help center request entries, USDT withdrawal fees and reserves; and both exchanges’ coin counts, contract counts, maximum leverage, funding intervals and caps are all figures read from official pages and public APIs on 2026-10-21; Fee Otter’s percentage was checked the same day. KuCoin’s classed spot rates, KCS discount, VIP thresholds and futures rules were checked against the official help center on 2026-10-18; Bybit’s USDT withdrawal fees were checked on 2026-10-12 and its P2P on 2026-10-13, and KuCoin’s P2P on 2026-10-18; Earn rates are floating snapshots; incidents were cross-checked against official announcements, government notices and news reports. How the data is compiled is described in How we compile rebate data, and referral link disclosures are in Referral and rebate disclosure.
FAQ
Which has lower fees, Bybit or KuCoin?
Before rebates, Bybit is lower at VIP 0. Futures Maker is 0.02% on both, and Taker is 0.055% on Bybit and 0.06% on KuCoin; spot is 0.1% on Bybit, and on KuCoin 0.1% for Class A and 0.2% and 0.3% for Classes B and C. With platform tokens on, Bybit spot drops to 0.075% and futures Taker to 0.0495%, while KuCoin’s KCS only lowers Class A spot to 0.08% and doesn’t apply to futures. With 200,000 USDT of futures plus 20,000 USDT of spot a month, all as Taker, Bybit costs 130 USDT and KuCoin (Class A) 140 USDT.
Can I use Bybit and KuCoin at the same time?
Yes. Bybit and KuCoin are different companies, so you just sign up and complete identity verification on each. The limits apply within a single exchange: on Bybit, each person can have only one verified account, and on KuCoin, each person can verify only one account. Handle referral codes separately: on KuCoin, enter it at sign-up; on Bybit, you can add a partner’s affiliate code within 14 days. To move USDT between them, use Plasma: 0 USDT out of Bybit and 0.4 USDT out of KuCoin.
Should users in Taiwan choose Bybit or KuCoin?
Conditions for using them in Taiwan are about the same, so the choice depends on how you trade: Bybit if you mainly trade major-coin futures and care about platform size, KuCoin if you want small-cap coins and a rebate paid directly by the exchange. Taiwan isn’t on either exchange’s restricted-region list, and both apps are on the Taiwan App Store; neither offers direct TWD deposits, so in both cases you first buy USDT with TWD on a local exchange in Taiwan and then transfer it. Sending USDT back to MAX costs 0.002 USDT from Bybit over Aptos, and at least 0.5 USDT from KuCoin.
Which is safer, Bybit or KuCoin?
Neither can be called absolutely safe, and both have had platform wallets hacked. Bybit lost about 1.5 billion USD in ETH on 2025-02-21, withdrawals kept running, and the gap was filled in about 72 hours; KuCoin’s hot wallets lost about 281 million USD on 2020-09-25, 84% was recovered and the insurance fund covered the rest, and KuCoin also pleaded guilty in the US on 2025-01-27. On reserves, Bybit’s 2026-09-23 snapshot shows BTC 104% and USDT 110%, and KuCoin’s 2026-09-30 snapshot BTC 109% and USDT 110%; users hold about 7.6 times as much BTC on Bybit as on KuCoin.
Which gives a bigger referral rebate?
Looking at the exchanges alone, KuCoin has a rebate and Bybit doesn’t. KuCoin’s referral rebate is paid by the exchange, its affiliate program states that invitees who signed up after 2022-09-22 are covered for life, and invitees at VIP 3 and above generate no commission; Bybit’s referral code doesn’t refund fees to invitees, so you need a rebate site: for example, the Fee Otter rebate page lists 40% for Bybit (checked 2026-10-21), paid by Fee Otter. Look at the rates as well as the percentages: Bybit’s futures Taker after getting 40% back is 0.033%, and KuCoin’s rebate has to be 45% or more to go lower.
This site’s KuCoin referral code currently gets an automatic exchange rebate of 60%, on both spot (including margin) and futures.
I’ve already signed up. Can I still add or change a referral code?
On Bybit you can add an affiliate code within 14 days; on KuCoin you can submit a request, but the criteria aren’t published. Bybit main accounts with no referrer can add a partner’s affiliate code on the account info page within 14 days of sign-up, and it can’t be canceled or changed once added; after 14 days, the only route left is reassignment after 180 days of inactivity, for accounts registered after 2025-09-01. On 2026-10-21, KuCoin’s help center had two request entries, “Add an inviter” and “Unbind inviter,” but didn’t state eligibility, review time or whether requests are approved; the 2017 sign-up guide, for its part, says the invitation code becomes invalid once sign-up is complete and can’t be added manually.
What’s the maximum futures leverage on Bybit and KuCoin?
BTC goes up to 150x on Bybit and 125x on KuCoin; ETH is 150x against 100x (official APIs, 2026-10-21). The maximum only applies to the first position tier: up to 300,000 USDT for BTC on Bybit and up to 250,000 USDT on KuCoin, and on KuCoin isolated margin you have to switch the risk limit tier manually to open a larger position. For other crypto contracts, the most common cap is 25x on Bybit and 30x on KuCoin. The higher the leverage, the closer the liquidation price is to your entry price.
Which network should I use to send USDT from Bybit to KuCoin?
Plasma is cheapest in both directions: 0 USDT out of Bybit (minimum 2, 2026-10-12) and 0.4 USDT out of KuCoin (minimum 5, 2026-10-21). From Bybit you can also use Aptos at 0.002 USDT; TRC20 costs 1.3 and 1.99 USDT respectively, and KuCoin’s ERC20 costs 5.5 USDT with a 30 USDT minimum, so it’s best avoided. Before sending, make sure the receiving exchange’s deposit page has the same network open.
To sign up directly, see KuCoin referral code for KuCoin; for Bybit, the rebate approach is in Bybit rebate: get fees back with Fee Otter. Fee details are in Bybit fees and KuCoin fees; if you already have an account, the rebinding rules are in Changing your Bybit referral code and the KuCoin referral code rebind guide. Actual fees after rebates for each exchange are listed in Actual fees after referral rebates, the lowest-fee exchanges in Low-fee crypto exchanges compared, and how much you could save in a year in How much can referral rebates save you; for other exchanges’ referral codes and rebates, see Crypto exchange referral codes. To compare other pairs, see OKX vs Bybit, Binance vs Bybit, Bybit vs Bitget, Bybit vs Gate, Bybit vs MEXC, Binance vs KuCoin, OKX vs KuCoin and KuCoin vs Bitget.