# Binance Alternatives Ordered by What Each Venue Documents About Its Checks

Updated: 24 September 2026; Terms read 18 September 2026; Books checked to 22 September 2026; The Switch Guide editors

These binance alternatives are sequenced by what each venue writes down about the checks it runs before
a deposit is credited, not by how few checks it runs. EVEDEX is first for naming a mechanism and a
partner in writing; three of the six publish nothing we could find, which is not proof that nothing is
checked.

## Where each venue lands

Weights, fixed 22 September 2026 before a venue on this site was scored: Book depth we measured 28 · Who holds the collateral 22 · Cost of a round trip 18 · Markets on offer 14 · Record so far 12 · Whether the door opens 6. Method in full: https://doliacats.com/methodology

Ordered by what each venue documents about the checks it runs before a deposit is credited. The score column is the overall total and did not set this order: on that total Lighter leads, at 25.3 of 30.

| No. | Venue | What it documents about checks | Score of 30 | Maker / taker | Perp markets | BTC leverage |
|---|---|---|---|---|---|---|
| 1 | EVEDEX | Help Center article names the mechanism: automated on-chain AML screening | 19.6 | 0.015% / 0.045% | 52 | 200x to $50,000 |
| 2 | Extended | Terms of use reserve the right to deny access after a Know Your Transaction risk assessment | 23.1 | 0% / 0.025% | 325 | 50x to $4 million |
| 3 | Aster | Terms and conditions allow limited identity verification procedures | 23.0 | 0% / 0.040% | 578 | 200x to 400 USDT |
| 4 | Lighter | Nothing on screening in the documentation we read on 18 September 2026 | 25.3 | 0% / 0% | 214 | 50x, 2% margin |
| 5 | edgeX | Nothing on screening in the user terms we read on 18 September 2026 | 23.2 | 0.040% / 0.045% | 172 | 100x to $1 million |
| 6 | dYdX | Nothing on screening in the KYC page we read on 18 September 2026 | 17.2 | 0.010% / 0.050% | 78 | 50x, 2% margin |

## Before you move

1. Names the mechanism: EVEDEX points to automated on-chain screening, the only venue here that says how a deposit is checked.
2. Reserves a right without a mechanism: Extended's terms allow refusal after a risk assessment, Aster's allow limited identity verification.
3. Says nothing: Lighter, edgeX and dYdX publish nothing we could find, which is not the same as running none.
4. The order says nothing about the fill: edgeX still held the deepest book, a median $29.1 million within 10 basis points of the BTC mid, against $24.8 million on Binance.

## What we measured ourselves

BTC perpetual order books read every 10 minutes in the hours between 07:10 and 23:58 UTC on 22 September 2026; every figure is the median of the successful readings.

| Venue | Round trip on $10,000 | Depth within 10 bps | Impact of a $100,000 order | Readings |
|---|---|---|---|---|
| EVEDEX | $9.00 | $18.9 million | 2.06 bps | 94 |
| Extended | $5.00 | $7.7 million | 0.06 bps | 93 |
| Aster | $8.00 | $14.8 million | 0.56 bps | 94 |
| Lighter | $0.00 | $17.4 million | 0.70 bps | 93 |
| edgeX | $9.00 | $29.1 million | 0.02 bps | 94 |
| dYdX | $10.00 | $845,469 | 6.74 bps | 94 |

## Step 1 — Price the fill before you price the fee

The fee is easy to price and easy to over-weight. A round trip on $10,000 costs
$0.00 on Lighter's standard account, $5.00 on Extended and
$10.00 at the far end of this table.

The fill is where the money goes. Binance's perpetual held a median $24.8 million within
10 basis points of the mid across the 9 readings that book
returned to us; edgeX held $29.1 million across 94 of them and dYdX
$845,469. On that last book a $100,000 order would have moved the price
6.74 bps — more in one trade than the fee argument costs in a year at that
size.

Away from BTC the argument comes back: every depth figure here is BTC, the flattering end of each
book.

## Step 2 — Who should not move yet

**Anyone who needs fiat in and out.** Not one of these venues turns a bank transfer into collateral,
or sends money back to a card.

**Anyone whose size lives in small altcoins.** The depth column is BTC only, and on a thin market the
same book holds a fraction of what that line suggests.

**Anyone who cannot keep a key safe.** There is no password reset here, and a venue that never holds
your coins cannot give them back.

**Anyone the terms shut out.** Every venue here names countries it will not serve, and connecting a
wallet is agreeing to that list.

**Anyone sizing a position off the leverage cap.** Leverage shortens the distance between a position and its own margin, and moving venue does not lengthen it.

## Venue 1 — EVEDEX, move here for crypto, shares, metals and oil on one balance (19.6 of 30)
EVEDEX matches orders in its own engine and writes position data to Arbitrum once enough changes have
accumulated, along with every withdrawal (EVEDEX documentation, consulted 18 September 2026). Its
52 perpetual contracts cover 39 crypto markets, five US stocks, an index, Tether
Gold, silver, WTI crude oil, two currency pairs and two pre-IPO names, on the 24/7 schedule in its
trading terms. Fees are 0.015% maker / 0.045% taker, reduced by cashback of up to 35% of a trader's own
fees. Getting in takes a wallet signature and 6 USDT, with on-chain screening instead
of an identity check.

- Getting in: Wallet signature.
- Worth moving: A median $18.9 million resting within 10 basis points on BTC, second only to edgeX here; Six asset classes on one balance, all of them on a 24/7 schedule; Two CertiK audits of the smart contracts, the latest delivered 28 July 2025 with one informational finding, acknowledged, and nothing critical, major, medium or minor.
- Worth knowing: Positions reach Arbitrum in periodic batches rather than trade by trade; No bug bounty listed on CertiK Skynet, checked 18 September 2026; 52 markets against hundreds elsewhere, no spot market, and cross margin only.
- Not for: traders who want risk fenced off position by position, or a long altcoin list.

## Venue 2 — [Extended](https://extended.exchange/), move here for one flat rate for every account, settled trade by trade (23.1 of 30)
Extended keeps its own order book and settles every transaction on Starknet, with collateral in
self-custodial contracts ([Extended docs](https://docs.extended.exchange/about-extended/technical-architecture), checked 18 September 2026). One rate applies to everybody,
0% maker / 0.025% taker with no tiers at all. Of its 325 markets, 278 are quoted
on request with no public book; the BTC book we read held $7.7 million.

- Getting in: Wallet signature, EVM or Starknet.
- Worth moving: 0% maker / 0.025% taker for every account, with no tier to climb; Bug bounty of up to $500,000 for a critical report.
- Worth knowing: Most of its market count has no public order book behind it; No forced withdrawal described in the documentation we read.
- Not for: traders who need a public book on the market they actually trade.

## Venue 3 — [Aster](https://www.asterdex.com), move here for the longest market list and nothing to pay on the maker side (23.0 of 30)
Aster moved matching and settlement onto Aster Chain, a proof-of-staked-authority layer 1 launched on
16 March 2026 ([Aster docs](https://docs.asterdex.com/overview/what-is-aster.md), checked 18 September 2026). The core code is closed and phase one ran without
outside validators, so "on-chain" here means a chain the operator runs. In exchange:
578 contracts, 0% maker / 0.040% taker at the entry tier, a median $14.8 million
on BTC and an Immunefi bounty of up to $200,000.

- Getting in: Wallet signature or email.
- Worth moving: 578 perpetual contracts, the longest list here; 0% to make at every tier since 2 February 2026.
- Worth knowing: Operator-run chain, closed core code, no outside validators in phase one; A validator-signed bridge and no documented forced withdrawal.
- Not for: anyone leaving because one company controls the venue.

## Venue 4 — [Lighter](https://lighter.xyz), move here for a book that costs nothing to trade and a written way out (25.3 of 30)
An operator sequencer matches orders off-chain and proves every batch on Ethereum, where the deposits
sit ([Lighter docs](https://docs.lighter.xyz/about-lighter/technical-architecture-lighter-core.md), checked 18 September 2026). If it stops answering, a priority queue on Ethereum and a
documented desert mode let users take collateral out without it. A standard account pays
0% maker / 0% taker and 300 ms of extra latency on takes, across 214 markets
covered by nine audits.

- Getting in: Wallet signature.
- Worth moving: Nothing to pay on a standard account, maker or taker; A way out documented for the day the sequencer stops.
- Worth knowing: 300 ms of added latency on every take; No published bug bounty programme.
- Not for: latency-sensitive strategies unwilling to pay the premium rate.

## Venue 5 — [edgeX](https://pro.edgex.exchange), move here for the deepest book on this page and an exit that skips the operator (23.2 of 30)
edgeX runs its own matching engine and commits each change of state to rollup contracts on the EDGE
chain ([edgeX docs](https://pro.edgex.exchange/en-US/home), checked 18 September 2026). Its self-custody page is unusually direct about the failure
case: users can withdraw "completely bypassing the operator" if the front end stops. Entry fees of
0.040% maker / 0.045% taker are the weak spot beside the zero-fee venues, on 172 contracts,
93 of them shares and funds.

- Getting in: Wallet or MPC login.
- Worth moving: The deepest book on this page: a median $29.1 million within 10 basis points on BTC; Withdrawal without the operator, described step by step.
- Worth knowing: 0.040% to make at the entry tier, where several rivals charge nothing; No bug bounty programme published.
- Not for: market makers paying the entry-tier maker fee all day.

## Venue 6 — [dYdX](https://www.dydx.xyz), move here for a sign-in with Google, Apple or email and the largest bounty here (17.2 of 30)
dYdX holds its book in the validators' own memory and writes only the match to dYdX Chain, the
Cosmos app-chain it runs ([dYdX docs](https://docs.dydx.xyz/concepts/architecture/overview), checked 18 September 2026). Since the Turnkey integration a trader
can arrive with a Google or Apple account and still hold the keys. Tier-one fees are 0.010% maker / 0.050% taker on
78 markets, one of them WTI oil. The chain halted on 10 October 2025, and stale
prices after the restart produced $462,097.79 of trader losses put up for compensation.

- Getting in: Wallet signature, or Google, Apple or email.
- Worth moving: Bug bounty of up to $1,000,000 for a critical report; Sign-in with Google, Apple or email into a wallet the trader holds.
- Worth knowing: A median $845,469 on BTC, a fraction of every other book here; Chain halt and mispriced liquidations in October 2025.
- Not for: large orders, which walk straight through this book.

## In their own words

> "A signature request will appear in your wallet. Approve it to complete the connection." — Aster documentation, Log in via Web3 wallet, 18 September 2026. https://docs.asterdex.com/getting-started/login-via-web3-wallet.md
> "Accessing the EDGE Chain requires a non-custodial wallet or MPC-based login." — edgeX user terms, 18 September 2026. https://pro.edgex.exchange/userterms
> "EVEDEX is a hybrid cryptocurrency exchange combining CEX-level user experience with DEX self-custody security." — CertiK Skynet, project profile, 18 September 2026. https://skynet.certik.com/projects/evedex
## FAQ from people mid-switch

### What is the best alternative to Binance?

It depends what you are leaving for. On the six weighted criteria — the fill, the custody, the
cost, the coverage, the record and the door — Lighter comes first of these six at
25.3 of 30, edgeX second at 23.2. EVEDEX
carries 19.6 on that scale; its row here reflects what it documents about deposit
checks, not the total.

### How much liquidity do I lose moving off a big exchange?

On BTC, less than expected. edgeX held a median $29.1 million within 10 basis points of the
mid against $24.8 million on Binance, whose book answered only
9 times that morning, and two more venues held over
$15 million. Away from BTC the gap widens.

### Which crypto exchange is better than Binance?

None is better at everything: Binance keeps fiat rails and altcoin depth nothing here matches. What
these venues offer instead is collateral you can see on a chain, a wallet signature instead of an
account, and on two of them a withdrawal without the operator.

### Can I trade futures without KYC?

On all six venues here a trader opens positions from a wallet without sending identity documents,
though several reserve the right to check. Extended's terms allow it to refuse access after a
transaction risk assessment, and EVEDEX screens deposits on-chain instead.

### What happens to my coins if a DEX goes down?

That turns on one line of documentation. Lighter and edgeX describe a withdrawal that works without
the operator, so an outage is an inconvenience. On the other four, collateral sits in contracts but
the way out runs through the operator, and an outage becomes a wait.

### Which exchange has the lowest fees for futures?

Of the six here Lighter charges 0% maker / 0% taker on a standard account, putting a $10,000 round
trip at $0.00. Extended comes next at $5.00, then Aster at
$8.00. The dear end of this table is dYdX, at $10.00 for the same trade.

### Do I need a VPN to use a perp DEX?

Every venue here publishes a list of places it will not serve, and connecting a wallet agrees to that
list. Routing around it breaks the terms you accepted and can cost the balance. None of the six asks
for a document at the door in any case.

### Are decentralized exchanges safer than centralized ones?

They move the risk rather than remove it. dYdX's chain stopped on 10 October 2025 and stale prices after
the restart produced $462,097.79 of trader losses put up for compensation, and Paradex rolled its own
chain back in January 2026. What changes is who holds the collateral.

### What is the cheapest way to move a position between exchanges?

Close as a maker where the book lets you, and count the round trip twice: on $10,000 it runs from $0.00 on Lighter to $10.00 on dYdX before slippage. The fee is the small
part of that bill; a thin book takes more in one order.

### Which perp DEX has the most markets?

Aster, with 578 perpetual contracts on 18 September 2026, ahead of Extended at 325, which quotes 278 of those on request with no public book behind them. A market
count rewards a long list, so read it beside the depth column rather than alone.

## Where every figure on this page came from

One of the six numbers is ours and five are quotations. Depth is measured here, in the window this
page names. Fees, markets, ladders, sign-in, who the terms refuse and audit history were lifted from
each venue's own documentation and terms on 18 September 2026. The rule that weights them was
settled on 22 September 2026 and is set out on [how we rate](/methodology). Placement on this guide is paid
for; the order of the table is not.

Three things this guide cannot do. It cannot watch a venue behave: custody, the route out, who gets in
and the record come off pages the venue wrote itself; silence costs points without proving anything.
It cannot price your trading: the fees here are what a new account pays, before volume tiers and
rebates. And only BTC was read, so anything narrower is thinner than it looks.

The Switch Guide editors, 24 September 2026. Corrections, say which step it is on and what the venue actually publishes: editorial@doliacats.com

This guide is paid to publish, and a venue you are being walked towards may be the one who bought the walkthrough.