BitMEX vs Bitget
Bitget did not win me over on fees. It won me over the first time I opened its copy-trading page and saw how deep the roster of lead traders ran. BitMEX shuts down on 23 September 2026, and if the thing you will miss is following other traders at scale, this is the venue to look at. The honest cost of entry: Bitget makes you verify ID, and it turns away both US and UK traders. Here is the full field-by-field breakdown.
The short version
Bitget runs the largest copy-trading marketplace in the sector, with roughly 792 perpetual markets, inverse coin-margined BTC and ETH contracts, up to 150x leverage, and monthly proof of reserves near 123%. The trade-off is real: KYC is mandatory with no no-KYC tier, and both the US and UK are restricted. New users can currently claim up to 6,200 USDT in rewards.
Open Bitget & claim the bonus →Status & Access
Bitget is fully operational while BitMEX counts down. The sharper day-one difference is the door policy: BitMEX let some users trade with limited verification, while Bitget puts KYC in front of everyone.
| Field | BitMEX | Bitget |
|---|---|---|
| Operational status | Closing 23 Sep 2026, 04:00 UTC | Active |
| Founded | 2014 | 2019 |
| Registration / legal entity | HDR Global Trading Limited | Private company, Seychelles registration |
| US / UK / restricted | US restricted; UK unclear | US, UK, Canada, Singapore restricted |
| KYC levels & no-KYC limit | KYC required; no no-KYC tier | KYC required (Lv1); no no-KYC tier |
| Account verification time | Not disclosed | Not disclosed |
Fees
BitMEX charged a flat 0.05% on both sides. Bitget is cheaper for makers at the base tier and rewards volume, though its taker rate sits a touch higher.
| Field | BitMEX | Bitget |
|---|---|---|
| Futures maker / taker (base) | 0.05% / 0.05% | 0.02% / 0.06% |
| VIP 1 threshold | Not disclosed | ≥$5M 30d futures, or $30k balance, or BGB holdings |
| VIP 1 maker / taker | Not disclosed | 0.019% / 0.06% |
| Funding frequency | Not disclosed | Every 8 hours |
| Withdrawal fees (BTC/USDT/ETH) | Not disclosed | Not disclosed |
| Native-token discount | None (BMEX not a fee token) | 20% with BGB |
| Hidden fees | Not disclosed | Rates may vary by region |
Products & Contracts
Good news for BitMEX loyalists: the inverse perp lives on here, the market count is far larger, and BTC leverage runs higher than BitMEX's headline number.
| Field | BitMEX | Bitget |
|---|---|---|
| Perpetual markets | Not disclosed | ~792 |
| Inverse / coin-margined perps | Yes (the pioneer) | Yes (Coin-M BTC/ETH) |
| Max leverage BTC / ETH | Up to 100x | 150x / 125x |
| Max leverage alts | Up to 100x | 50-125x (varies by pair) |
| Dated futures | Yes | Yes |
| Options | No | No |
| TradFi / commodity perps | Yes | Yes |
| Settlement currency | BTC, USDT + others | USDT, USDC, coin (Coin-M) |
Liquidity & Scale
BitMEX volume has thinned as it winds down. Bitget sits among the larger derivatives venues by open interest and daily turnover.
| Field | BitMEX | Bitget |
|---|---|---|
| 24h futures volume | Thin (winding down) | ~$5.88B |
| Open interest | Not disclosed | ~$7.01B |
| Market rank | Not disclosed | Not disclosed |
| Order-book depth | Not disclosed | Strong for majors |
Margin & Risk
Bitget supports the usual isolated and cross modes plus multi-asset margin. One honest flag: some users have reported mark-price behaviour leading to liquidations they did not expect, so size positions with that in mind.
| Field | BitMEX | Bitget |
|---|---|---|
| Margin modes | Not disclosed | Isolated, cross, multi-asset |
| Insurance / risk fund | Not disclosed | Protection Fund noted |
| ADL policy | Not disclosed | Not disclosed |
| Max position limits | Not disclosed | Not disclosed |
Security & Transparency
BitMEX's record here is genuinely strong. Bitget answers with heavy transparency: monthly Merkle-tree proof of reserves running above a 100% ratio, near 123% at the latest snapshot, with an open-source self-verification tool.
| Field | BitMEX | Bitget |
|---|---|---|
| Proof of Reserves | Yes (published) | Yes, ~123% monthly Merkle |
| Custody partner | Not disclosed | Not disclosed |
| Historical hacks | None since 2014 | No exchange hack; BitKeep wallet incident 2022 |
| Bug bounty / audits | Not disclosed | Not disclosed |
| Cold storage % | Not disclosed | Not disclosed |
Trading Features
| Field | BitMEX | Bitget |
|---|---|---|
| Copy trading | Not disclosed | Yes (largest marketplace) |
| Bots / grid / DCA | Not disclosed | Yes (trading bots) |
| API | Yes (well-regarded) | Not disclosed |
| Demo / paper trading | Testnet (historically) | Not disclosed |
| Advanced order types | Yes | Yes (TP/SL, triggers) |
| Mobile app rating | Not disclosed | Not disclosed |
User Experience & Support
| Field | BitMEX | Bitget |
|---|---|---|
| UI / UX | Pro, advanced-trader oriented | Not disclosed |
| Support | Not disclosed | Not disclosed |
| Education / testnet | Testnet (historically) | Not disclosed |
| Referral / VIP program | Not disclosed | Yes (referral + VIP) |
Deposits, Tokens & Migration
| Field | BitMEX | Bitget |
|---|---|---|
| Min deposit / withdrawal | Not disclosed | Not disclosed |
| Deposit networks | Not disclosed | Not disclosed |
| Fiat on-ramps | Not disclosed | Not disclosed |
| Native token | BMEX | BGB (20% fee discount) |
| New-user bonus | n/a (closing) | Up to 6,200 USDT new-user rewards |
Figures checked July 2026 from Bitget's own materials and public data such as CoinGecko. "Not disclosed" means we could not verify a current figure, not that it is zero. Bonus is a standard new-user promo set by the exchange; terms vary. Confirm live on bitget.com.
Who should switch from BitMEX to Bitget
Bitget fits one type of ex-BitMEX trader best: the one who wants to follow and copy other traders at scale, on a big, liquid venue that still keeps inverse coin-margined perps and pushes leverage to 150x. The transparency story helps too, with monthly proof of reserves you can self-verify. The caveats are firm and worth stating plainly. Bitget requires KYC and offers no no-KYC tier, so if trading without handing over ID was the BitMEX habit you cared about, look at BitMEX vs Blofin instead, since Blofin is our top pick and keeps a no-KYC entry. Bitget also restricts both the US and the UK. US traders should read BitMEX vs BTCC, and anyone chasing the widest altcoin menu can compare BitMEX vs MEXC. Check your own local law before signing up anywhere; this is general information, not legal advice. Bitget still earns a high spot on our list of BitMEX alternatives.
Ready to move?
If copy trading is what you want next, Bitget is the venue to set up. Get the account verified before you withdraw from BitMEX so there is no gap, and claim the welcome rewards while the promo runs.
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BitMEX vs Bitget FAQ
Is Bitget a good replacement for BitMEX?
For traders who value features over anonymity, yes. You keep inverse coin-margined BTC and ETH perps, get around 792 perpetual markets, up to 150x leverage, and the largest copy-trading marketplace in the sector. The two catches: Bitget requires KYC with no no-KYC tier, and it restricts both US and UK users.
Does Bitget require KYC?
Yes. Verification is mandatory for full access, and Level 1 is required to trade and withdraw normally. There is no no-KYC trading tier. If starting without ID matters to you, Blofin is the closer match to old BitMEX.
Does Bitget offer copy trading?
Yes, and it is the signature feature. Bitget runs the largest copy-trading marketplace among major derivatives exchanges, so you can mirror lead traders with one click, plus grid and DCA bots for automated strategies.
Can US or UK traders use Bitget?
No. Bitget restricts both the US and the UK, along with Canada, Singapore and others. Check your own local rules first; this is not legal advice.
Last checked July 2026. Compare other options: Blofin (top pick, no-KYC), BTCC (accepts US, UK restricted), MEXC (most altcoins), or the full list of BitMEX alternatives.