If you’re searching for the best crypto futures trading platform or exchange of 2025, especially one available in the USA, you’re not alone. As U.S. regulations continue to limit leverage and futures access on major exchanges like Coinbase and Kraken, traders are increasingly turning to offshore platforms that offer higher leverage, better execution, and a broader selection of contracts.
In this guide, we compare the top crypto futures trading platforms and exchanges that accept U.S. traders, including BYDFi, BTCC, and Phemex. No matter if you thrive on quick scalping or prefer swing setups with 200x BTC futures, these platforms offer the lowest fees, deep liquidity, instant onboarding, no corporate KYC walls, and no throttled leverage.
Let’s break down the platforms that actually deliver in 2025 and help you choose the one that fits your trading style.
Key Takeaways
- BYDFi and BTCC are the top futures platforms for U.S. traders in 2025, offering high leverage, strong liquidity, and access without restrictive KYC.
- BTCC leads in pure leverage (up to 500x) with a simple setup process and strong execution speed across core markets.
- A platform’s margin settings, liquidation policies, and funding behavior matter as much as the assets it lists.
- Fee structures and slippage often impact profitability more than headline leverage numbers; vet before you commit.
- Always test unfamiliar platforms in demo mode or with low capital to verify order execution, latency, and interface reliability.
List of top platforms for futures trading
Best Overall
Our rating: 5.0/5
#1 BYDFi
Max Leverage
Our rating: 4.9/5
#2 BTCC
Our rating: 4.8/5
#3 Phemex
Our rating: 4.7/5
#4 MEXC
Our rating: 4.6/5
#5 Binance
Our rating: 4.5/5
#6 Bybit
Investment and affiliate disclosure: This article contains affiliate links, meaning we may earn a commission at no additional cost to you if you click our links. Trading cryptocurrencies and leveraged products carry significant risks, including potential losses exceeding your initial investment. The information provided is for educational purposes only and not financial advice. Please trade responsibly and seek professional guidance if needed. Read our full affiliate disclosure here.
Comparison of the top platforms for crypto futures trading
Below is a comparison table of the 6 platforms that made it to the top list after reviewing over 40 exchanges. The best crypto futures trading platforms for 2025 are:
| Platform | Max Leverage | KYC | Fees | U.S. Availability | Best For | Altcoin Pairs | Futures Contracts | Demo |
|---|---|---|---|---|---|---|---|---|
| BYDFi | 200x | No | 0.02% / 0.06% | Full U.S. access (FinCEN) | Fast registration & U.S. access | 600+ | USDT-M & COIN-M | Yes ($100K) |
| BTCC | 500x | No | 0.045% / 0.045% | U.S. allowed (no KYC needed) | Max leverage & reliability | 360+ | USDT-M & COIN-M | Yes ($100K) |
| Phemex | 100x | No | 0.01% / 0.05% | Some IPs blocked | Low fees, fast trades | 530+ | Perpetual contracts | Yes |
| MEXC | 400x | No (≤ 10 BTC) | 0.00% / 0.01% | U.S. access (no KYC) | Altcoin futures | 2700+ | USDT-M perpetuals | Yes ($50K) |
| Binance | 125x | Yes | 0.02% / 0.05% (BNB discount) | Unavailable in U.S. | Liquidity & tools | 460+ | USDT-M & COIN-M (incl. delivery) | No |
| Bybit | 100x | Yes | 0.02% / 0.055% | Not U.S. compliant | Deep liquidity | 1650+ | USDT, USDC & Inverse Perpetuals | Yes |
1. BYDFi – Best crypto futures trading platform overall and in the USA
If you’re looking for the best crypto futures trading platform overall, and one that actually works for U.S. traders, BYDFi should be the first name on your list. With up to 200x leverage for futures, ultra-low fees starting at 0.02%, and no KYC required for basic trading, BYDFi strikes a rare balance between deep functionality and broad accessibility, offering over 600+ altcoins to trade with.
Unlike most global exchanges that exclude American traders or throttle leverage, BYDFi is fully regulated in the U.S. under FinCEN and available in over 150 countries, including the USA. That alone makes it a standout. But BYDFi goes further with a fast, TradingView-powered futures terminal, dual support for COIN-M and USDT-M contracts, and 24/7 live chat for real-time support.
No matter if you’re scalping BTC futures or running altcoin setups with adjustable margin, BYDFi delivers execution speed, flexibility, and control, without the corporate KYC gatekeeping or platform lag seen elsewhere. Below, we break down what makes BYDFi the top futures trading platform in 2025, and why it’s become the go-to choice for high-leverage traders in the U.S. and beyond.
Futures trading on BYDFi
BYDFi stands out as one of the best crypto futures trading platforms in the USA, thanks to its high-speed execution, no-KYC onboarding, and clean, TradingView-powered interface. With up to 200x leverage and contract fees starting as low as 0.02%, the platform delivers an ideal setup for active traders looking to capitalize on volatility.
After personally testing BYDFi’s futures interface, it felt snappy and responsive, opening a 50x long on ETH with a tight stop was smooth and intuitive. Switching between markets and adjusting leverage took only seconds using our crypto futures calculator, making it perfect for fast-paced scalping setups.
The platform is an ideal crypto exchange for day traders, scalpers, and anyone who values speed, control, and several hundred trading pairs, with over 600+ coins available.
Futures Trading Features:
- Up to 200x leverage on futures contracts
- Offers both USDT-M and COIN-M futures
- No KYC required for basic trading
- 0.02% maker / 0.06% taker fees
- Isolated & cross margin modes
- TradingView charting with order book depth
- Over 400 crypto trading pairs
- Free $100,000 futures demo trading account
- Regulated in both the U.S. and Canada
- Mobile app supports full futures trading functionality
- Transparent funding rates and leverage fee structure
BYDFi is a strong choice for high-leverage futures trading — fast, flexible, and fully open to U.S. traders.
Key platform features
- TradingView-Integrated Charts: Professional-grade charting interface with market depth, order flow visibility, and advanced indicators.
- Direct Asset Conversion: Skip the order book and instantly convert assets to manage risk and rebalance fast.
- Free $100K Demo Account: Practice leveraged futures strategies in a simulated environment before risking real capital.
- Fast Account Setup: 2-minute registration with no KYC needed unless you exceed withdrawal limits.
- Fiat On-Ramps: Buy crypto with USD, EUR, GBP, and more via Banxa, Transak, Coinify, or Mercuryo.
- Full Mobile Access: BYDFi’s iOS and Android apps allow you to manage futures positions on the go with full charting tools and order types.
- Secure Cold Storage: 95% + of funds stored in multi-signature cold wallets. Segregated client accounts reduce counterparty risk.
- Built-In Risk Controls: Stop-loss and take-profit orders available. Optional 2FA and withdrawal PIN for added protection.
- 24/7 Live Chat Support: Rapid-response customer service, including Telegram and Discord community access.
Pros
- Dual regulation (FinCEN & FINTRAC) adds legal credibility for U.S. and Canadian users.
- Offers both USDT-M and COIN-M futures, supporting stablecoin and crypto settlement.
- Segregated user funds and multi-sig cold storage minimize custody risk.
- TradingView depth tools and order book visibility enhance trade precision.
- Direct asset conversion reduces slippage across pairs.
- Fiat support via Banxa, Transak, Coinify, Mercuryo — covers most currencies.
- Fast sign-up without KYC for futures trading
- Free $100k demo account with real-fee simulation helps strategy testing.
- 24/7 live chat with fast response times and active Discord/Telegram channels.
- Available in over 150 countries, including the U.S.
Cons
- No staking or lending options for passive income seekers.
- No phone support; complex cases may wait in email queues.
- No built-in bot trading — must use external APIs for automation.
2. BTCC – Best crypto futures exchange in the USA
BTCC is listed as the best crypto futures exchange in the USA thanks to its high leverage, zero-hack track record, and seamless access for U.S. traders. While most major platforms throttle leverage or restrict U.S. users altogether, BTCC stands out by offering up to 500x leverage, a full suite of futures contracts, and zero-KYC trading, all accessible from the United States and Canada.
This isn’t just a newcomer making bold claims. BTCC is one of the oldest crypto exchanges in the world, founded in 2011, with a perfect security record and no hacks in over a decade of operations. That kind of longevity and reliability is rare in a market filled with technical issues, frozen withdrawals, and compliance clampdowns.
For U.S.-based traders who want deep liquidity, fast execution, and high-leverage access without jumping through corporate compliance hoops, BTCC offers one of the strongest packages available in 2025. In the following review, I’ll break down what makes BTCC so appealing for futures traders, from its lightning-fast engine to its low fees and copy trading features.
Futures trading on BTCC
BTCC is widely regarded as one of the best crypto futures exchanges in the USA, offering a powerful combination of deep liquidity, high-leverage futures contracts, and intuitive tools that cater to both new and seasoned futures traders. The platform specializes in futures contracts across a wide range of trading pairs, including BTC, ETH, XRP, and other high-demand altcoins.
When I tested the futures interface myself, I found the chart loading times almost instant, and setting up advanced orders like trailing stops and post-only entries felt effortless. For pro traders used to clunky, laggy dashboards, this is a noticeable upgrade.
Traders can go long or short using up to 500x leverage, giving them exceptional flexibility when managing risk or maximizing exposure. No matter if you’re testing crypto leverage strategies in a free demo account or actively trading with live capital, BTCC makes it seamless to execute futures trades with professional-grade precision.
Key highlights of BTCC’s futures trading experience:
- Over 360 futures contracts across top crypto assets
- Up to 500x leverage on BTC, ETH, DOGE, SOL, and XRP
- Smooth order execution with deep liquidity
- Risk-free demo trading account with 100,000 USDT
- USDT-M and COIN-M collateral futures options
- Transparent fee structure with low maker/taker rates
- Available to traders in the USA and Canada
Key platform features
- Spot trading available for 240+ crypto pairs with fiat support
- Copy trading with customizable stop-loss control
- Strong security: 2FA, cold wallet storage, and no lending of user funds
- Multilingual interface supporting 13 languages
- Regulatory licenses in the USA, Canada, and Europe
- Instant crypto conversion for 200+ assets
- User-friendly mobile and desktop trading platforms
- Welcome bonuses, referral rewards, and seasonal campaigns
- Free demo account with virtual funds for practice trades
Pros
- Zero hacks since 2011 — 14 years of spotless security makes BTCC one of the most trusted exchanges in crypto.
- Beginner-friendly copy trading — Automate trades by following proven strategies, no experience needed.
- No KYC for basic usage — Trade and withdraw up to 10,000 USDT without identity verification.
- Integrated fiat on-ramps — Fund accounts with Visa, Mastercard, and bank transfer without third-party services.
- Transparent withdrawal policies — Real-time fee display and dynamic limits based on KYC level.
- Exclusive SVIP program — High-volume traders unlock deep fee discounts, priority support, and gifts.
- Responsive customer support — 24/7 multilingual assistance via chat, email, and social channels.
- Licensed in multiple regions — Registered with FinCEN, FINTRAC, and Lithuanian authorities.
- Detailed user onboarding — Platform walkthroughs, pop-up tips, and a polished UI for a fast learning curve.
Cons
- No staking or yield tools — Traders looking for passive income features will be disappointed.
- Limited advanced trading automation — No trading bots, APIs, or conditional order logic beyond the basics.
- No access to DeFi features — Lacks integrations with lending, farming, or third-party dApps.
3. Phemex – Crypto futures trading platform with the lowest fees
If you’re looking for a crypto futures trading platform with low fees, Phemex is one of the most cost-effective choices in the market. With trading fees starting at just 0.01% for makers and 0.05% for takers, Phemex consistently undercuts most competitors, making it an ideal platform for active futures traders who care about maximizing their profits with leverage.
Founded by ex-Morgan Stanley executives, Phemex has built its reputation around speed, reliability, and affordability. Its high-performance trading engine processes up to 300,000 transactions per second, ensuring minimal slippage and lightning-fast execution even in volatile markets. Traders can access up to 100x leverage on a wide range of perpetual contracts, with over 130 crypto trading pairs available.
A couple of weeks ago I shorted SOL at $158 using 20x leverage on Phemex. I used our leverage calculator to choose the right ratio, and the entry filled immediately, no lag, no slippage. I held the position overnight and closed it the next morning around $150. The whole trade cost me less than $10 in fees, which is wild considering the size. It’s trades like that where you really notice how much low fees matter.
The platform also rewards traders with lifetime trading rebates and sign-up bonuses worth up to $4,800. If minimizing fees is a top priority in your trading strategy, Phemex is the crypto futures platform to beat.
Futures trading on Phemex
Phemex is a high-performance crypto futures platform built for speed, flexibility, and precision. With over 130 crypto contract trading pairs, ultra-low latency, and up to 100x leverage, Phemex delivers a trading experience tailored for serious futures traders who want full control.
During testing, the interface felt fast and responsive—even during high-volatility events. Advanced order types like conditional triggers, post-only, and stop-market orders are easy to set up, and the platform’s deep liquidity helps ensure minimal slippage.
Futures traders can also automate their strategies using built-in grid and martingale bots or tap into Phemex’s copy trading system to mirror top-performing traders. For beginners, demo trading is available with full access to charting tools and perpetual contracts—no risk involved.
Key highlights of Phemex futures trading:
- 130+ futures pairs with deep liquidity
- Up to 100x leverage on major crypto contracts
- 0.01% maker / 0.06% taker fees (tiered discounts available)
- Advanced order types and lightning-fast execution engine
- Risk-free demo trading and built-in bot automation
- Copy trading features for hands-off strategy replication
Note: While Phemex is accessible to U.S. users, some IP addresses may encounter restriction pop-ups due to regional regulations. It’s advisable to consult Phemex’s Terms of Use for detailed information on regional access restrictions.
Key platform features
- Fast Execution: Engines handling 300K+ TPS for minimal slippage.
- Pro Tools: Market, limit, conditional orders + TradingView charts.
- High Leverage: Up to 100x, adjustable per trade.
- Automation: Trading bots and copy trading built-in.
- Mobile Access: Full-feature apps for on-the-go trading.
- Demo Mode: Risk-free practice environments.
- Deep Markets: Wide range of liquid futures pairs.
- Risk Controls: Stop-loss, take-profit, liquidation alerts.
- Earn Options: Staking, savings, and launchpools.
- Web3 Access: Token perks, governance, staking.
- Clear Fees: Transparent maker/taker rates, funding costs.
- Strong Security: Cold storage, 2FA, whitelists, proof of reserves.
Pros
- Profit from Any Direction: Shorting lets traders benefit from both rising and falling markets.
- Capital Efficient: Margin enables larger positions with less upfront capital.
- Trade 24/7: Global markets never close—no timezone restrictions.
- Broad Exposure: Futures on altcoins, indexes, and meme coins support diverse strategies.
- Hedge Spot Positions: Protect long-term holdings against short-term volatility.
- No Custody Required: Speculate on price without holding the underlying asset.
- Advanced Strategies: Enables arbitrage, basis trades, and funding rate plays.
- Tax Perks (Varies): Derivatives may be taxed more favorably in some regions.
Cons
- Margin Confusion: Cross vs. isolated margin can behave unpredictably in volatility.
- Low Liquidity Risks: Illiquid pairs may cause slippage and erratic pricing.
- Overexposure: High leverage tempts traders to risk excessive capital.
- No Direct Fiat Withdrawals: Users must convert crypto before cashing out.
- Earn Product Limitations: Fewer options for passive income compared to competitors.
4. MEXC – Crypto platform with the most altcoin futures pairs
If you’re looking for a crypto futures platform with the most altcoin trading pairs, MEXC is the undisputed leader in 2025. With over 2700 cryptocurrencies and 3000+ trading pairs, MEXC dominates the altcoin space, giving futures traders access to niche tokens well before they hit mainstream exchanges. Whether you’re into meme coins, DeFi tokens, or micro-cap gems, MEXC likely has a futures market for it.
This makes MEXC the go-to platform for traders looking to speculate on emerging tokens, meme coins, and niche altcoins long before they reach mainstream exchanges. Whether you’re into high-volatility scalping or holding positions on trending microcaps, MEXC gives you futures access to markets others don’t even list.
Beyond its unmatched altcoin support, MEXC boasts zero maker fees and just 0.01% taker fees on futures—among the lowest in the market. You can also trade anonymously without KYC (up to 10 BTC/day withdrawals), and test strategies risk-free using MEXC’s built-in futures demo trading environment.
If you want early access to new markets, minimal fees, and thousands of pairs to choose from, MEXC is one of the most powerful altcoin futures platforms available in 2025.
Trade altcoin futures on MEXC and explore markets no other exchange offers.
Futures trading on MEXC
MEXC stands out in the crypto futures trading space thanks to its ultra-low fees, wide altcoin selection, and flexible KYC policies. Whether you’re an experienced derivatives trader or just getting started, MEXC offers a versatile and powerful environment for trading crypto futures.
With a matching engine that handles up to 1.4 million transactions per second, futures trading on MEXC is fast, responsive, and built to handle high-volume execution. Traders gain access to an expansive selection of USDT-margined perpetual contracts, including trending altcoins often unavailable on other futures platforms.
I personally used MEXC to short $WIF just after it peaked during its parabolic run. I spotted weakening volume on the 1H chart, set up a short position with 10x leverage, and targeted a breakdown of the $2.30 support zone. The trade filled quickly thanks to deep liquidity, and I exited 3 hours later with a clean 38% profit. For altcoin futures scalping or swing trading, this kind of flexibility is hard to match.
Another unique feature is MEXC Futures M-Day, where users who trade specific futures contracts can win exclusive token airdrops based on their trading volume. This makes MEXC not just a place to trade, but also a platform that rewards active futures traders.
Key Highlights of MEXC Futures Trading:
- 0% Maker / 0.01% Taker fees on USDT-margined futures
- 50% discount on fees by holding MX tokens
- Over 2700+ assets, including new altcoin futures rarely listed elsewhere
- No KYC required for trading and withdrawals up to 10 BTC/day
- Futures Copy Trading: Follow and auto-copy top-performing traders
- $50,000 Demo Account: Practice futures trading with zero risk
- MEXC Futures M-Day: Win token airdrops by trading futures
- High-speed matching engine: 1.4M TPS ensures smooth execution
- Frequent fee-free contract pairs like DOGS/USDT, NOT/USDT, APT/USDT
Key platform features
- Fast Signup – No KYC needed; start trading with just email or phone.
- Demo Account – $50,000 test funds to practice futures trading.
- Secure – 2FA, cold storage, address whitelisting, and audits.
- Flexible Payments – Crypto, SEPA, third-party providers.
- Tiered KYC – Optional; higher withdrawal limits up to 200 BTC/day.
- Cross-Platform – Fully functional on mobile and desktop.
- Bonuses & Events – Earn rewards via M-Day and trading promos.
- Launchpad Access – Early token launches and airdrops for MX holders.
- P2P Trading – Direct crypto trades with fiat support.
- 24/7 Support – Live help plus guides and in-app resources.
Pros
- Early altcoin futures often listed before major exchanges
- No IP blocks on signup, even from restricted regions
- Advanced order types like trigger and post-only
- Ongoing promos & airdrops beyond M-Day
- Strong mobile app with full futures functionality
- Active community on Telegram, Discord, etc.
- Low withdrawal fees for BTC, USDT, and others
Cons
- Unregulated in key markets (US, UK, EU)
- Cluttered UI may overwhelm beginners
- Limited fiat options, relies on third parties
- Risky token listings with low liquidity
5. Binance – Biggest crypto futures exchange
Binance is the biggest crypto futures exchange in the world, with over $76 billion in daily futures volume and 460+ trading pairs across USDⓈ-M and COIN-M contracts. Its dominance comes from deep liquidity, lightning-fast execution, and a wide selection of perpetual and delivery contracts for assets like BTC, ETH, and SOL.
Traders can access up to 125x leverage with low fees—0.02% maker / 0.05% taker, plus 10% discounts when paying with BNB, which is great when choosing leverage for a small account. Binance also supports advanced order types, including stop-market, trailing stop, and OCO orders, giving users precision in volatile markets.
Its platform is built for performance, offering real-time risk controls, integrated charting, and compatibility with TradingView and APIs. Security features like 2FA, cold storage, and liquidation protection provide added confidence.
Binance’s futures dashboard includes tools like funding rate data and open interest charts, helping traders make informed decisions. Despite regulatory limitations in some regions, Binance remains the go-to platform for serious futures traders worldwide.
If you’re seeking the most liquid, feature-rich futures exchange in crypto, Binance is the clear leader in 2025.
Futures trading on Binance
Binance offers one of the most advanced and liquid environments for crypto futures trading, making it a top choice for both retail and professional traders in 2025. With support for USDT-M and COIN-M perpetual and delivery contracts, Binance allows users to speculate on the future price of crypto assets with up to 125x leverage.
For example, during the ETH rally in March 2025, I opened a 10x long position on ETH/USDT when price broke above $3,200 with rising open interest and funding rates still neutral. I set a tight stop just below support and targeted a $3,600 breakout. The trade hit my target within 48 hours, and I walked away with a 120% return on margin, risk-managed and all executed seamlessly on Binance Futures.
The platform supports a range of order types (market, limit, stop, OCO, trailing stop) and provides powerful trading tools like funding rate indicators, open interest data, and liquidation heatmaps, all from a user-friendly dashboard.
Key Highlights of Binance Futures Trading:
- 460+ futures markets (USDT-M & COIN-M)
- Up to 125x leverage
- 0.02% maker / 0.05% taker fees (lower with BNB)
- Advanced order types & APIs
- Funding rate and liquidation data tools
- Institutional-grade speed and liquidity
Key platform features
- Fast Sign-Up & KYC – Quick registration via email, phone, or social login with secure identity verification.
- Top-Level Security – 2FA, cold storage, address whitelisting, anti-phishing codes, and regular audits.
- Global Access – Supports 180+ countries, 500+ coins, and 1300+ trading pairs.
- Low Fees – Spot fees from 0.1%, futures from 0.02%, with BNB discounts.
- Advanced Trading Tools – Spot, margin, futures, P2P, pro charting, and all major order types.
- Cross-Platform – Accessible via mobile app, browser, and desktop.
- Passive Income – Staking, Simple Earn, Launchpool, BNB Vault for yield generation.
- NFT Support – In-app marketplace for minting, buying, and selling NFTs.
- Web3 Wallet – Access dApps, token swaps, and airdrops across chains.
- 24/7 Support – Live chat, multilingual help, and a comprehensive knowledge base.
- Free Education – Binance Academy offers tutorials for all skill levels.
- Referral Bonuses – Earn rewards and discounts by inviting new users.
- Trusted by Millions – High user ratings and top global trading volume despite regulatory hurdles.
Pros
- High Liquidity – Minimal slippage, even on large trades.
- Early Token Access – Frequent listings of trending coins.
- Customizable UI – Modular dashboards and charting.
- All-in-One Ecosystem – Easy transition between trading, staking, and DeFi.
- Flexible Payments – Supports bank transfers, cards, Apple Pay, and more.
- Continuous Innovation – Regular updates and new features.
Cons
- Regulatory Risk – Ongoing legal issues in multiple regions.
- Limited Binance.US – No futures, fewer coins, not in all states.
- Support Delays – Slow responses for complex cases.
- Geo-Restrictions – Unavailable in countries like Canada and the United States.
6. Bybit – Crypto futures exchange with deep liquidity
Bybit is a crypto futures exchange with deep liquidity, making it a top choice for day traders seeking tight spreads and fast execution. With support for USDT, USDC, and inverse perpetual contracts, Bybit offers a diverse range of futures markets across 1,650+ assets, including BTC, ETH, and emerging altcoins. Its 100x leverage, robust order types (limit, market, TWAP, iceberg, scaled), and risk-managed margin modes (isolated and cross) empower traders to customize their strategies.
What sets Bybit apart is its high-throughput matching engine, capable of processing 100,000 transactions per second per contract, ensuring minimal slippage even during volatile market conditions. This, combined with competitive fees—just 0.02% maker and 0.055% taker—makes it one of the most efficient venues for futures trading.
Bybit’s deep liquidity is backed by a global user base of over 60 million traders, and the exchange sees daily derivatives volume in the tens of billions. The platform also includes tools like copy trading, futures grid bots, and a user-friendly interface that works for both professionals and newcomers.
If you’re looking for speed, flexibility, and scale in your futures trades, Bybit remains one of the strongest platforms in 2025.
Futures trading on Bybit
Bybit has become a go-to destination for futures traders thanks to its advanced tools, deep liquidity, and support for high-leverage positions. The platform offers perpetual contracts settled in USDT, USDC, or even the base crypto (inverse contracts), making it ideal for both hedging and directional trading.
When I’m trading BTC or ETH futures on Bybit, I use 20x to 50x leverage depending on the volatility. The execution is fast, even during news spikes, and I’ve never had issues with order fills. I mostly stick to USDT perpetuals and set up scaled limit orders to build positions over time. The isolated margin feature gives me tighter control on risk per trade.
Key Highlights for Futures Trading on Bybit:
- Leverage up to 100x on major crypto contracts (BTC, ETH, etc.)
- USDT, USDC & inverse perpetuals available for flexible exposure
- Advanced order types: limit, market, TWAP, iceberg, scaled
- Low fees: 0.02% maker / 0.055% taker
- Risk modes: Isolated vs cross margin for position control
- Futures trading bots: Automate strategies like grid or martingale
- Demo account: Practice futures trading with zero risk
- No liquidation fee on perpetual futures positions
Key platform features
- 1,650+ Assets – Trade across spot, futures, and options with broad market coverage.
- 100x Leverage & Pro Tools – Advanced order types, real-time charts, and margin modes.
- Copy Trading & Bots – Automate strategies or mirror top-performing traders.
- Earn Products – Stake, save, or invest with flexible and fixed-income options.
- Top-Tier Security – Cold storage, 2FA, PoR, and address whitelisting.
- Crypto Card – Spend crypto instantly and earn cashback.
- Mobile App – Full-featured trading and portfolio access on the go.
- Launchpool & Pre-Market Access – Join new token listings early and earn rewards.
Pros
- Deep liquidity across markets – Smooth execution for large futures positions without major slippage.
- High-speed performance – Matching engine supports 100,000 TPS per contract, ensuring uptime during volatility.
- Educational hub – Offers beginner-friendly guides, demo trading, and tutorials for futures and options.
- Frequent bonuses – New users benefit from sign-up rewards, rebates, and trading competitions.
- Global reach (Not US) – Available in 190+ countries with localized support, language options, and payment methods.
- Integrated ecosystem – Combines trading, earning, automation, and spending tools under one account.
- No deposit fees – Crypto deposits are free, and P2P fiat options add flexibility for onboarding.
- Transparent operations – Proof-of-Reserves and strong regulatory licensing (VARA, CySEC, AFSA) enhance trust.
Cons
- Unavailable in key markets – US, UK, and Canada residents cannot register due to regulations.
- Limited fiat withdrawals – Some regions lack direct fiat off-ramps or linked bank transfers.
- KYC mandatory for trading – Requires identity verification for most account functions.
- Withdrawal fees set by blockchain – Network fees for withdrawals (e.g., ETH, BTC) may vary and add cost.
What is crypto futures trading and how does it work?
Crypto futures trading allows you to speculate on the price movement of digital assets like Bitcoin or Ethereum without owning them. Unlike spot trading, where you buy and hold coins, futures contracts let you go long or short and use leverage to amplify your exposure. This makes them a preferred tool for directional trades, volatility plays, and portfolio hedging.
Futures are at the center of modern crypto markets. They’re what many high-volume traders use to manage risk, express conviction, and capitalize on short-term moves. With the right setup, futures can give you more flexibility, faster execution, and clearer strategies than spot ever could—but only if you know how they work.
When I want to bet on short-term momentum, without buying the actual coin, I’ll open a leveraged position using perpetual futures. It gives me more control, tighter risk management, and way more capital efficiency compared to spot.
Let’s break down how crypto futures work in practice, what traders need to manage, and the key systems behind profit, loss, margin calls, and liquidation.
How Crypto Futures Work: A Walkthrough
Crypto futures are derivative contracts that track the price of a cryptocurrency like Bitcoin or Ethereum. Instead of buying the coin, you enter into a contract that gains or loses value based on price movement.
Here’s how it works in practice:
- You open a position (long or short) by selecting a futures contract, like BTC/USDT perpetual.
- You choose leverage, for example 10x, meaning your $1,000 deposit controls a $10,000 position.
- If the market moves in your favor, profits are multiplied; if it moves against you, losses are too.
- You close the position manually, or it’s liquidated automatically if your margin is wiped out.
Example:
Last month, I opened a long position on ETH/USDT at $2,800 using 5x leverage on Bybit. ETH rallied to $3,200, giving me a 71% profit on my margin instead of a basic 14% gain on spot. But I had my stop-loss tight because any drop below $2,700 would’ve triggered liquidation.
Different types of futures contracts available
Not all crypto futures contracts are created equal. Understanding the different contract types is essential for choosing the right strategy and managing funding, margin, and settlement risk. Here are the main types you’ll encounter on most platforms:
1. Perpetual Futures Contracts
These are the most popular futures contracts in crypto. They don’t have an expiration date and are designed to closely track the spot price of the underlying asset.
- How it works: You can hold the position indefinitely—as long as your margin requirements are met.
- Funding fee: Longs and shorts pay each other based on market imbalance. This incentivizes the price to stay close to spot.
- Ideal for: Active traders who want flexibility and the ability to scalp, swing, or hedge without worrying about expiry.
Example:
On Bybit, I’ll use ETH/USDT perpetuals when I want exposure to a price move but don’t want to commit to a time frame. I monitor the funding rate hourly to avoid hidden costs.
2. Dated (Delivery) Futures Contracts
These contracts have a fixed expiration date—weekly, bi-weekly, quarterly, etc.—and settle either in cash or in the underlying crypto.
- How it works: Positions are automatically settled at expiry, regardless of whether you’ve closed them.
- No funding fee: Since they settle at a set time, you won’t pay funding rates.
- Ideal for: Traders looking to avoid funding costs or execute strategies around predictable expiration dates (e.g., calendar spreads or contango plays).
3. Inverse Futures Contracts
These contracts are margined and settled in crypto instead of stablecoins. For example, in a BTC/USD inverse contract, you post BTC as margin and earn/losses are also in BTC.
- How it works: The value of your margin fluctuates with the price of BTC.
- High risk, high reward: Gains are amplified if both the position and the asset appreciate—but so are leveraged losses.
- Ideal for: Advanced traders with strong BTC holdings looking for directional exposure.
Is crypto futures recommended for beginners?
Crypto futures are not recommended for complete beginners—but they can be appropriate for advanced beginners who already understand spot trading, calculate position sizing, and basic risk management.
The core issue is leverage, or better said, over-leveraging. Futures trading amplifies both gains and losses, which makes it easy to get liquidated if you don’t have a structured strategy. Many new traders jump into 20x+ leverage without understanding how quickly a 5% market move can wipe out their position.
That said, for traders who already have some experience and want to go deeper, futures can be a great tool to:
- Hedge your spot holdings during volatility
- Trade short-term trends without owning the asset
- Practice disciplined entries and stop-loss setups
When I first started, I blew through a few small-margin accounts using high leverage and no stop-losses. Once I switched to 3–5x leverage and set clear risk limits, futures became one of my best tools for catching short-term moves.
Start small, use a demo account, and never use maximum leverage until you understand how to calculate liquidation price. Futures can accelerate your growth—or your losses—depending on how you manage them.
Crypto futures trading in the USA: How it works
Trading crypto futures in the U.S. starts with understanding two things: which platforms are legally accessible and which offshore alternatives U.S. traders are actually using.
U.S.-Compliant Platforms (Limited Futures Options)
Most compliant U.S. platforms like Kraken and Coinbase offer limited leverage (1x–5x) and only basic margin or leverage products due to CFTC restrictions. These platforms are fully regulated and safe, but their futures features are often too restrictive for active traders.
- Kraken offers up to 5x leverage on select assets but requires intermediate or pro verification.
- Coinbase Advanced does not offer crypto futures for retail users in the U.S.
Offshore Alternatives (High Risk, High Access)
Despite restrictions, many U.S. traders continue to use offshore platforms such as BYDFi and BTCC that offer higher leverage (50x–200x) and a broader selection of perpetual contracts.
Important Note: Platforms like Bybit, Bitget, and MEXC officially restrict U.S. users, but many traders bypass this using VPNs. This violates their terms and carries significant risk, including frozen accounts and loss of access to funds.
One California-based trader looking to short ETH with 20x leverage found that U.S. platforms like Kraken and Coinbase didn’t offer the flexibility he needed. Instead of using a VPN, he turned to BYDFi, which openly accepts U.S. users. He was able to place leveraged trades without restrictions, without KYC, using isolated margin to cap his downside.
Key Factors for U.S. Crypto Futures Traders to Consider
If you’re trading crypto futures from the U.S., there are a few essential realities to keep in mind before choosing a platform or building your strategy:
- KYC & Account Access – U.S. documents are often blocked on offshore platforms. Even with a VPN, failing KYC can lock you out of your funds.
- Leverage Restrictions – Regulated U.S. platforms offer low leverage (usually up to 5x). Higher leverage is only available on offshore platforms—and comes with significantly more risk.
- Stablecoin-Based Contracts – Most futures products are settled in USDT or USDC, which simplifies tracking gains for tax purposes.
- U.S. Tax Reporting – Every closed position is a taxable event. Use detailed logs or crypto tax software to avoid surprises at year-end.
- Liquidation Sensitivity – With 20x+ leverage, small price movements can wipe out a position. Know your margin ratio and calculate stop-losses to stay in control.
Is crypto futures trading legal in the U.S.?
Yes, crypto futures trading is legal in the United States—but only on platforms that are registered with and regulated by the Commodity Futures Trading Commission (CFTC). These include exchanges like Kraken, CME Group, and a limited number of others that offer crypto derivatives under strict oversight.
However, U.S. regulations prohibit retail access to the high-leverage perpetual futures contracts commonly found on offshore exchanges like Bybit, Bitget, and MEXC. These platforms are not licensed to operate in the U.S., and using them (even with a VPN) often violates their terms of service and may breach U.S. law.
Here’s the legal breakdown:
- Permitted: Crypto futures trading on CFTC-regulated platforms (e.g., CME for institutional products, Kraken for limited margin).
- Not permitted: Trading on offshore platforms that do not comply with U.S. licensing or CFTC regulations.
However, a some offshore platforms do operate legally with leverage in the U.S. under a Money Services Business (MSB) registration with FinCEN, which allows them to serve American users within legal limits:
- BYDFi – Registered MSB with FinCEN, offers up to 100x leverage, legally accessible to U.S. traders without VPNs.
- BTCC – Also FinCEN-registered and accessible to U.S. users with up to 500x leverage, providing futures contracts with compliant onboarding.
These platforms are not CFTC-regulated but do not violate U.S. law by serving retail users, making them among the few legitimate options for Americans seeking more advanced futures features.
For retail traders, this means limited leverage and fewer futures instruments are legally accessible. While some traders still use offshore exchanges via VPNs, this carries legal, financial, and security risks—including the potential loss of access to funds if your account is flagged or banned.
What are the advantages and drawbacks?
Crypto futures trading is a double-edged sword. Here’s a detailed look at the real-world advantages and drawbacks:
Advantages:
- Capital Efficiency – Control larger positions with less capital using up to 100x leverage.
- Long/Short Flexibility – Profit in both bull and bear markets via perpetual contracts.
- Fast Execution – 100,000 TPS matching engine handles volatility with minimal slippage.
- Advanced Risk Control – Use isolated/cross margin, TP/SL orders, and post-only modes.
- Low Fees – Maker/taker fees (0.02%/0.055%) are competitive, with further VIP discounts.
- No Expiry – Perpetual contracts let you hold directional trades as long as needed.
- Order Type Variety – Execute via market, limit, TWAP, iceberg, or scaled strategies.
- Multi-Collateral Support – Trade with USDT, USDC, BTC, or ETH as margin collateral.
Drawbacks:
- Liquidation Risk – Even small moves can wipe positions at high leverage (e.g., 2% at 50x).
- Funding Costs – Negative rates can eat into profits if holding positions long-term.
- Emotional Stress – High leverage magnifies volatility and trader anxiety.
- Overtrading Risk – Easy access can lead to revenge trades and poor decisions.
- No Token Utility – You don’t earn staking rewards or access airdrops with futures.
- Fee Accumulation – Active trading racks up costs without a clear edge.
- Steeper Learning Curve – Complex orders and margin settings can overwhelm newer traders.
- No True Ownership – Contracts can’t be withdrawn or stored off-platform.
- Geo Restrictions & KYC – Not available in the US, UK, or Canada; ID verification required.
How to choose the best platform or exchange: What to consider
Before trading crypto futures, vet the platform using this focused 7-step checklist:
1. Liquidity & Volume
Look for deep order books, tight spreads, and high daily volume on pairs like BTCUSDT. This reduces slippage on entries and exits.
2. Leverage & Margin Controls
Check for flexible leverage (up to 100x), isolated vs. cross margin, and transparent liquidation thresholds. Avoid platforms with aggressive auto-deleveraging.
3. Fees & Funding Rates
Compare taker/maker fees and funding rate history. Favor platforms with low base fees and stable funding—especially for swing trades.
4. Execution & Order Types
Test the interface. Ensure smooth order flow and access to TWAP, reduce-only, scaled, and other pro order types.
5. Security & Regulation
Only trade on platforms with cold storage, 2FA, PoR audits, and licenses from credible jurisdictions like VARA or CySEC.
6. Geo Access & KYC
Verify if the exchange is available in your country. Some restrict US, UK, or Canada users. Confirm KYC is required for trading or withdrawals.
7. Trader Tools & Automation
Look for features like copy trading, bot integration, and full-featured mobile apps if you’re managing trades on the move.
Pro Tip: Always test new platforms in demo or with small capital before scaling. Execution and funding behavior matter more than marketing claims.
How we tested and reviewed the platforms in this article
At Leverage.Trading, we evaluate crypto futures platforms using a trader-first lens—balancing deep liquidity, execution speed, risk tools, and overall reliability. Our methodology focuses on factors that impact real-world trading performance, not just surface-level features.
Here’s how we assess each exchange:
- Futures Market Depth & Liquidity
Can large orders execute without slippage? We analyze order book depth and daily derivatives volume. - Leverage Options & Margin Control
We prioritize platforms offering flexible leverage (up to 100x), along with isolated and cross margin modes for risk segmentation. - Fee Structure & Funding Rates
We compare maker/taker fees, funding rate stability, and hidden costs that affect PnL—especially for active or long-term traders. - Order Execution & Infrastructure
Matching engine speed, order type variety (e.g., TWAP, scaled), and uptime during volatility are key benchmarks. - Security & Transparency
We examine cold wallet storage, KYC protocols, PoR audits, and regulatory licensing across jurisdictions. - Tooling & Trader Experience
Platforms are evaluated for pro-level tools (e.g., bots, copy trading), UI/UX quality, mobile app performance, and available APIs. - Geo Access & Restrictions
We check if the platform is legally accessible in the US, UK, Canada, Australia, and Europe—our primary audience regions.
Bottom Line: We don’t just review exchanges, we test them like real traders. Every recommendation on Leverage.Trading is based on performance, not hype.
FAQ
BYDFi, BTCC, and Phemex rank among the best for futures trading, offering high leverage, deep liquidity, and user-friendly interfaces.
BYDFi, BTCC, and Phemex are accessible to U.S. traders and offer futures trading without strict regional KYC barriers.
Only on CFTC-registered platforms like Kraken or Coinbase Advanced. Offshore platforms like BTCC and BYDFi are commonly used but not regulated in the U.S.
Yes, BYDFi is widely used and offers strong security measures, including cold wallet storage and risk monitoring.
BTCC and BYDFi both offer low maker/taker fees, frequent rebates, and promotional fee discounts.
Margin trading uses borrowed funds on spot markets, while futures trading involves contracts that allow both long and short positions with built-in leverage.
Funding fees are periodic payments between long and short traders to keep the futures price aligned with the spot market.
Wrapping up
In 2025, the best crypto futures trading platforms aren’t just about who offers the highest leverage, they’re about who gives you the tools, liquidity, and access to trade with precision and confidence. Platforms like BYDFi, BTCC, and Phemex have emerged as top choices for U.S. traders by offering deep markets, no-KYC onboarding, and low-fee execution without throttling leverage or platform features.
If you’re a U.S.-based trader looking to bypass the limitations of Coinbase or Kraken, these offshore platforms provide a rare balance of power and flexibility. From 200x+ leverage to full mobile access and real-time funding visibility, you’re no longer forced to trade blind or limited by red tape.
Final tip: Don’t just follow hype or headlines, test execution, fees, and funding behavior yourself. Start with a demo or small-size position, and scale up only once you’ve verified the platform matches your strategy.
Futures trading is a game of edges. Choosing the right platform is the first one.
Further reading
