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. 2,886 measurements in 336 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 | 292 | €0.50 | €0.77 | €1.27 | 8.9% | 0.9% |
| Binance | 336 | €1.00 | €0.55 | €1.55 | 72.3% | 0.0% |
| OKX | 336 | €1.00 | €0.79 | €1.79 | 17.6% | 0.0% |
| Bitget | 210 | €1.00 | €1.23 | €2.23 | 1.2% | 0.0% |
| KuCoin | 84 | €1.00 | €2.31 | €3.31 | 0.0% | 0.0% |
| Kraken | 336 | €4.00 | €0.41 | €4.41 | 0.0% | 0.0% |
| Crypto.com | 252 | €5.00 | €2.20 | €7.20 | 0.0% | 0.3% |
| Bybit | 300 | €1.00 | €7.83 | €8.83 | 0.0% | 11.0% |
| Gemini | 68 | €12.00 | €0.66 | €12.66 | 0.0% | 17.0% |
| Coinbase | 336 | €12.00 | €0.71 | €12.71 | 0.0% | 70.8% |
| Bitpanda * | 336 | €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: €1.27 per €1,000, €0.77 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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