The True-Cost Index · monthly edition
True-Cost Index, August 2026.
measured by Skontro · permanent edition
What a $1,000 buy cost across 8 exchanges (dollar books), August 2026: 86,202 measurements.
The dollar edition · USD books
What a $1,000 buy cost across 8 exchanges, August 2026 — fee plus hidden spread.
| Exchange | Measurements | Avg fee | Avg hidden spread | Avg all-in | Cheapest | Dearest |
|---|---|---|---|---|---|---|
| Binance | 3433 | $1.00 | $0.31 | $1.31 | 9.3% | 0.1% |
| Kraken | 17031 | $4.00 | $0.17 | $4.17 | 15.7% | 0.2% |
| Bitstamp | 10852 | $4.00 | $0.49 | $4.49 | 4.8% | 3.0% |
| Crypto.com | 16271 | $5.00 | $1.12 | $6.12 | 0.0% | 6.2% |
| Coinbase | 16297 | $12.00 | $0.29 | $12.29 | 0.0% | 72.2% |
| OKXthin order book · not assessed | 16338 | $1.00 | $5.57 | $6.57 | — | — |
| Geminino longer compared | 3965 | $12.00 | $1.13 | $13.13 | — | — |
| Bybitthin order book · not assessed | 1273 | $1.00 | $16.67 | $17.67 | — | — |
2026-08-01 → 2026-08-31 · 86,202 measurements · Method: /true-cost/methodology
The “0% fee” check
No exchange in the set advertised a (near-)zero taker fee this period.
Sources & method
Skontro's dollar series. Each exchange is priced separately on every measured asset, then averaged into one number. 86,202 measurements in 18,468 asset-hour rounds (17,727 rankable), observed 2026-08-01 → 2026-08-31 · 99.3% of scheduled asset-hour rounds.
Basket v2: the 25-asset series (from 2026-08-01). Not assessed = a thin order book or an exchange no longer compared; shown for the record, never ranked. Ranking is by net amount received; affiliate relationships never move a number. How “hidden spread” is measured: /true-cost/methodology. Corrections → hello@skontro.com, applied and dated visibly.
The dollar edition · USDT books
What a 1,000 USDT buy cost across 9 exchanges, August 2026 — fee plus hidden spread.
| Exchange | Measurements | Avg fee | Avg hidden spread | Avg all-in | Cheapest | Dearest |
|---|---|---|---|---|---|---|
| MEXC | 15720 | 0.50 USDT | 0.79 USDT | 1.29 USDT | 73.3% | 0.0% |
| Bybit | 17067 | 1.00 USDT | 0.62 USDT | 1.62 USDT | 15.8% | 2.3% |
| OKX | 7072 | 1.00 USDT | 0.72 USDT | 1.72 USDT | 2.2% | 0.5% |
| Binance | 16467 | 1.00 USDT | 0.79 USDT | 1.79 USDT | 4.2% | 0.8% |
| Bitget | 16515 | 1.00 USDT | 0.83 USDT | 1.83 USDT | 4.2% | 4.6% |
| Kraken | 6658 | 4.00 USDT | 0.81 USDT | 4.81 USDT | 0.0% | 4.1% |
| Crypto.com | 15585 | 5.00 USDT | 1.84 USDT | 6.84 USDT | 0.0% | 34.9% |
| Coinbase | 9579 | 12.00 USDT | 2.53 USDT | 14.53 USDT | 0.0% | 51.9% |
| Geminino longer compared | 421 | 12.00 USDT | -0.34 USDT | 11.66 USDT | — | — |
2026-08-01 → 2026-08-31 · 105,084 measurements · Method: /true-cost/methodology
The “0% fee” check
- MEXC advertises a near-zero taker fee — measured all-in 1.29 USDT per 1,000 USDT, 0.79 USDT hidden spread.
Sources & method
Skontro's dollar series. Each exchange is priced separately on every measured asset, then averaged into one number. 105,084 measurements in 17,729 asset-hour rounds (17,729 rankable), observed 2026-08-01 → 2026-08-31 · 95.3% of scheduled asset-hour rounds.
Basket v2: the 25-asset series (from 2026-08-01). Not assessed = a thin order book or an exchange no longer compared; shown for the record, never ranked. Ranking is by net amount received; affiliate relationships never move a number. How “hidden spread” is measured: /true-cost/methodology. Corrections → hello@skontro.com, applied and dated visibly.
The founding EUR series · longest continuous record
What a €1,000 buy cost across 13 exchanges, August 2026 — fee plus hidden spread.
| Exchange | Measurements | Avg fee | Avg hidden spread | Avg all-in | Cheapest | Dearest |
|---|---|---|---|---|---|---|
| OKX | 17803 | €0.96 | €0.61 | €1.57 | 50.9% | 0.5% |
| KuCoin | 2734 | €1.00 | €0.61 | €1.61 | 1.8% | 0.0% |
| Bitget | 6671 | €1.00 | €1.10 | €2.10 | 1.0% | 0.0% |
| MEXC | 6878 | €0.50 | €1.73 | €2.23 | 0.7% | 0.7% |
| Bitvavo | 12403 | €2.50 | €0.08 | €2.58 | 3.8% | 0.2% |
| Binance | 15524 | €1.00 | €1.95 | €2.95 | 33.8% | 4.7% |
| Kraken | 18553 | €4.00 | €0.32 | €4.32 | 0.3% | 10.7% |
| Crypto.com | 4462 | €5.00 | €2.16 | €7.16 | 0.0% | 1.1% |
| Bitstamp | 11102 | €4.00 | €3.63 | €7.63 | 0.1% | 12.6% |
| Coinbase | 13349 | €12.00 | €1.10 | €13.10 | 0.0% | 60.9% |
| Bitpanda * | 12831 | €0.00 | €14.48 | €14.48 | 0.0% | 0.0% |
| Geminino longer compared | 360 | €12.00 | €7.25 | €19.25 | — | — |
| Bybitthin order book · not assessed | 9194 | €1.00 | €32.42 | €33.42 | — | — |
2026-08-01 → 2026-08-31 · 131,864 measurements · Method: /true-cost/methodology
The “0% fee” check
- MEXC advertises a near-zero taker fee — measured all-in €2.23 per €1,000, €1.73 hidden spread.
Sources & method
Skontro's founding EUR series — the longest continuous record, running on as a continuing service beside the dollar edition. Each exchange is priced separately on every measured asset, then averaged into one number. 131,864 measurements in 18,556 asset-hour rounds (18,556 rankable), observed 2026-08-01 → 2026-08-31 · 99.8% of scheduled asset-hour rounds.
Basket v2: the 25-asset series (from 2026-08-01). * = estimated, not measured: a list-price exchange with no public order book; excluded from the cheapest/dearest rounds. Not assessed = a thin order book or an exchange no longer compared; shown for the record, never ranked. Ranking is by net amount received; affiliate relationships never move a number. How “hidden spread” is measured: /true-cost/methodology. Corrections → hello@skontro.com, applied and dated visibly.
Notes
- 2026-08-23 to 2026-08-31: the external reference price (CoinGecko) was unavailable. In that window "hidden spread" is measured against each exchange's own best price, not a cross-exchange reference — spread values for those days are a lower bound. Cheapest/most-expensive shares are unaffected (ranking = units received, independent of the reference).
- Basket change: this edition measures the 25-asset basket (v2); the July edition measured the founding 8 assets. Month-over-month figures are only comparable on the common 8-asset basket. On that basket (EUR, €1,000 buy, live books only): Binance's average hidden spread fell from €0.66 (July) to €0.36 (August); Binance was cheapest in 69% of rounds in July and 35% in August, OKX in 21.5% and 35%. Correction 2026-09-06: an earlier Skontro post compared the two editions across baskets and stated a Binance spread rise to €1.95 — that figure is the 25-asset August average, not a like-for-like change.
Cite: Skontro True-Cost Index, August 2026 — measured 2026-08-01 to 2026-08-31, 86,202 hourly order-book measurements, $1,000 buy. skontro.com/research/2026/08
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