Original research · the True-Cost Index
What a trade really costs.
What a €1,000 buy actually cost across 11 venues in July 2026 — fee plus the hidden order-book spread, sampled hourly. 2,472 measurements in 288 rounds (2026-07-01 → 2026-07-31). Ranking is by net amount received; affiliate relationships never move a number.
| Venue | Measurements | Avg fee | Avg hidden spread | Avg all-in | Cheapest | Dearest |
|---|---|---|---|---|---|---|
| MEXC | 250 | €0.50 | €0.24 | €0.74 | 10.4% | 1.0% |
| Binance | 288 | €1.00 | €0.45 | €1.45 | 70.5% | 0.0% |
| OKX | 288 | €1.00 | €0.70 | €1.70 | 17.7% | 0.0% |
| Bitget | 180 | €1.00 | €1.14 | €2.14 | 1.4% | 0.0% |
| KuCoin | 72 | €1.00 | €2.16 | €3.16 | 0.0% | 0.0% |
| Kraken | 288 | €4.00 | €0.31 | €4.31 | 0.0% | 0.0% |
| Crypto.com | 216 | €5.00 | €2.17 | €7.17 | 0.0% | 0.3% |
| Bybit | 258 | €1.00 | €8.51 | €9.51 | 0.0% | 12.2% |
| Coinbase | 288 | €12.00 | €0.63 | €12.63 | 0.0% | 68.8% |
| Gemini | 56 | €12.00 | €1.29 | €13.29 | 0.0% | 17.7% |
| Bitpanda * | 288 | €0.00 | €14.07 | €14.07 | 0.0% | 0.0% |
The “0% fee” check
- MEXC advertises a (near-)zero taker fee — measured average all-in cost: €0.74 per €1,000, €0.24 of it hidden spread. The fee is not the price.
“Hidden spread” = execution cost above the reference mid, measured by walking the live order book for the exact order size — not the quoted mid. * = estimated, not measured: a list-price venue with no public order book; excluded from the cheapest/dearest rounds. Method: /true-cost/methodology. Corrections → hello@skontro.com, applied and dated visibly.
Past issues: 2026-07 · 2026-06
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