Not just the trading fee — the full cost including withdrawals, deposits, P2P, and hidden markups for three trader profiles.
Updated: March 2026Binance and OKX are the two largest crypto exchanges by volume, and both offer referral code MGBABA for 20% off fees. But which one is actually cheaper for your trading style? The answer depends on how much you trade and how you move money in and out.
| Fee Type | Binance (with MGBABA) | OKX (with MGBABA) |
|---|---|---|
| Spot Maker | 0.080% | 0.064% |
| Spot Taker | 0.080% | 0.080% |
| Spot + BNB (Binance only) | 0.060% | — |
| Futures Maker | 0.016% | 0.016% |
| Futures Taker | 0.040% | 0.040% |
| P2P Fee | 0% | 0% |
On paper, OKX has a lower maker fee for spot trading (0.064% vs 0.080%). But Binance claws it back with BNB payment, dropping to 0.060%. Futures fees are effectively identical.
You buy $100 of crypto each month and hold. You deposit via P2P and rarely withdraw.
| Cost Item | Binance | OKX |
|---|---|---|
| Trading fee ($100) | $0.08 | $0.06 |
| P2P deposit | $0 | $0 |
| 1 withdrawal/quarter (USDT TRC-20) | $0.33/mo | $0.27/mo |
| Total monthly cost | $0.41 | $0.33 |
Winner: OKX. For small traders who use P2P, OKX is slightly cheaper due to lower withdrawal fees and lower maker rate.
You actively trade spot and futures, make 20+ trades per month, and withdraw twice monthly.
| Cost Item | Binance | OKX |
|---|---|---|
| Spot fees ($10K, mixed maker/taker) | $6.00 (with BNB) | $7.20 |
| Futures fees ($20K notional) | $5.60 | $5.60 |
| 2 withdrawals (USDT TRC-20) | $2.00 | $1.60 |
| Total monthly cost | $13.60 | $14.40 |
Winner: Binance. The BNB fee payment discount gives Binance a meaningful edge for active traders. Over a year, that is $9.60 saved vs OKX.
You trade large volumes, use limit orders, and optimize every cost.
| Cost Item | Binance | OKX |
|---|---|---|
| Spot maker fees ($100K) | $60 (with BNB) | $64 |
| Futures maker fees ($200K) | $32 | $32 |
| 10 withdrawals | $10 | $8 |
| Total monthly cost | $102 | $104 |
Verdict: Nearly identical. At this volume you will likely qualify for VIP tiers on both exchanges, making the difference negligible. The real optimization at this level is negotiating custom fee rates with your account manager.
| Asset — Network | Binance | OKX | Winner |
|---|---|---|---|
| USDT — TRC-20 | $1.00 | $0.80 | OKX |
| USDT — Arbitrum | $0.60 | $0.40 | OKX |
| USDT — Solana | $0.50 | $0.50 | Tie |
| BTC — Bitcoin | $1.20 | $1.50 | Binance |
| BTC — Lightning | $0.01 | $0.01 | Tie |
| ETH — Arbitrum | $0.20 | $0.10 | OKX |
| SOL — Solana | $0.01 | $0.01 | Tie |
OKX wins on withdrawal fees for most assets. If you withdraw frequently, this adds up. Binance wins on BTC native withdrawals.
The optimal strategy is to have accounts on both exchanges with code MGBABA. Use Binance for active spot trading (BNB discount makes it cheapest). Use OKX for P2P deposits and withdrawals (lower fees on most chains). For futures, both are identical — pick whichever has better liquidity for your pair.
Code MGBABA works on both Binance and OKX — lifetime 20% fee discount.
It depends. Binance is cheaper for active spot trading with BNB payment (0.06% effective). OKX is cheaper for P2P-focused traders and has lower withdrawal fees. For futures, both charge the same. Use code MGBABA on both for 20% off.
Use MGBABA on both platforms for a permanent 20% fee discount on all trading (spot, futures, margin). This is the maximum referral discount available.
OKX generally wins. USDT TRC-20 is $0.80 on OKX vs $1.00 on Binance. ETH on Arbitrum is $0.10 vs $0.20. Binance wins on BTC native ($1.20 vs $1.50). Both are equal on Lightning and Solana.
See our full exchange fee comparison →
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