Original research · the True-Cost Index
What a trade really costs.
What a €1,000 buy actually cost across 11 venues in June 2026 — fee plus the hidden order-book spread, sampled hourly. 12,380 measurements in 1,448 rounds (2026-06-01 → 2026-06-30). Ranking is by net amount received; affiliate relationships never move a number.
| Venue | Measurements | Avg fee | Avg hidden spread | Avg all-in | Cheapest | Dearest |
|---|---|---|---|---|---|---|
| Binance | 1448 | €1.00 | €0.39 | €1.39 | 85.9% | 0.0% |
| OKX | 1448 | €1.00 | €0.95 | €1.95 | 9.9% | 0.0% |
| Bitget | 905 | €1.00 | €1.16 | €2.16 | 2.0% | 0.0% |
| MEXC | 1267 | €0.50 | €2.17 | €2.67 | 1.7% | 0.2% |
| KuCoin | 362 | €1.00 | €2.65 | €3.65 | 0.0% | 0.0% |
| Kraken | 1448 | €4.00 | €0.30 | €4.30 | 0.0% | 0.0% |
| Crypto.com | 1086 | €5.00 | €3.26 | €8.26 | 0.0% | 2.6% |
| Bybit | 1269 | €1.00 | €7.45 | €8.45 | 0.5% | 5.2% |
| Coinbase | 1448 | €12.00 | €0.56 | €12.56 | 0.0% | 75.0% |
| Bitpanda * | 1448 | €0.00 | €14.07 | €14.07 | 0.0% | 0.0% |
| Gemini | 251 | €12.00 | €7.63 | €19.63 | 0.0% | 17.0% |
The “0% fee” check
- MEXC advertises a (near-)zero taker fee — measured average all-in cost: €2.67 per €1,000, €2.17 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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