Which exchange is cheapest for $2M a month in trading volume?

At $2M/month with a 50/50 maker/taker mix on entry-tier rates, Bitfinex has the lowest estimated perps bill (~$0.00/mo) and Bitfinex the lowest spot bill (~$0.00/mo). Volume tiers, funding and token discounts can change the ranking, so check your exact profile in the FeeEdge calculator.

How much does $2M/month in volume cost in fees?

On perps it ranges from about $0.00 to $1,000 per month across major venues at entry-tier rates; on spot from about $0.00 to $18,000. Picking the wrong venue can cost $216,000+ per year.

Do volume tiers change which exchange is cheapest?

Yes. Most exchanges cut maker/taker rates as your 30-day volume climbs, and the breakpoints differ by venue, so the cheapest exchange at one volume is often not the cheapest at another. The FeeEdge calculator applies each venue's tier table to your exact volume.

Cheapest exchange for $2M/month volume

Last updated: August 30, 2026

Trading around $2M a month? At that volume the venue you pick is a real line item: across the major exchanges the same flow costs anywhere from $0.00 to $1,000 per month on perps ($0.00 to $18,000 on spot), assuming a 50/50 maker/taker mix at published entry-tier rates. That gap is up to $216,000 a year for doing nothing differently except where you trade.

Perps: estimated monthly fee bill at $2M/month

#	Exchange	Maker	Taker	Est. monthly bill
1	Bitfinex	0.000%	0.000%	$0.00
2	Lighter	0.000%	0.000%	$0.00
3	MEXC	0.000%*	0.020%*	$200
4	Coinbase	0.000%	0.030%	$300
5	Aster	0.000%	0.040%	$400
6	edgeX	0.012%	0.038%	$500
7	Deribit	0.015%	0.035%	$500
8	Hyperliquid	0.015%	0.045%	$600
9	Crypto.com	0.020%	0.040%	$600
10	dYdX	0.010%	0.050%	$600

* 0%/0.02% is the published UI base as of 19 Aug 2026, not a universal book. Rates vary by region and event; the 25 May BTC/ETH update is region-gated; API futures use a separate 0.06%/0.08% book.

Spot: estimated monthly fee bill at $2M/month

#	Exchange	Maker	Taker	Est. monthly bill
1	Bitfinex	0.000%	0.000%	$0.00
2	Lighter	0.000%	0.000%	$0.00
3	dYdX	0.000%	0.000%	$0.00
4	Deribit	0.000%	0.000%	$0.00
5	Toobit	0.000%	0.000%	$0.00
6	Aster	0.005%	0.040%	$450
7	MEXC	0.000%	0.050%	$500
8	Hyperliquid	0.040%	0.070%	$1,100
9	edgeX	0.040%	0.070%	$1,100
10	OKX	0.080%	0.100%	$1,800

Estimates use published entry-tier rates with a 50/50 maker/taker mix. Your real bill depends on your maker/taker mix, volume-tier discounts, funding (perps), and native-token discounts. The FeeEdge calculator applies all of those to your exact profile.

Why the ranking changes at your volume

Most venues cut rates as your 30-day volume climbs, and the breakpoints differ: an exchange that's mid-pack at $10k/month can be cheapest at $1M/month once its tier discounts kick in. Maker rebates and token discounts (paying fees in BNB, GT, BGB, BMX) shift it further. The table above is the honest entry-tier picture; the calculator applies each venue's full tier table to your number.

Run your exact volume across 33 exchanges →

FAQ

Which exchange is cheapest for $2M a month?

At entry-tier rates with a 50/50 mix, Bitfinex has the lowest estimated perps bill and Bitfinex the lowest spot bill, but tiers, funding and token discounts can flip it, so check your profile in the calculator.

How much does $2M/month cost in fees?

Roughly $0.00 to $1,000/month on perps and $0.00 to $18,000/month on spot, depending on venue. See the hidden costs of crypto trading for what the headline rate leaves out.