BitMEX vs XT.com
XT.com rarely tops anyone's shortlist, and yet it clears the one bar a lot of BitMEX refugees actually care about: you can pull up to 200,000 USDT a day without ever verifying your identity. With BitMEX closing on 23 September 2026, that ceiling is worth a serious look. Here is the full field-by-field breakdown, including where XT falls short.
The short version
XT.com runs USDT-margined and coin-margined perps up to 125x, base fees of 0.02% / 0.06%, and a no-KYC withdrawal limit of 200,000 USDT a day, among the most generous around. Neither serves the US; XT does serve the UK. The trade-offs are thinner real liquidity than the top venues, a 1.7M USD reserves breach in late 2024, and a shorter track record. We hold no affiliate deal with XT, so this is a straight read on merits.
See our top pickStatus & Access
XT.com is live and trading while BitMEX runs out the clock. The day-one difference is the same one that draws most BitMEX users: XT still lets you trade and withdraw without handing over ID, and its no-KYC limit is unusually high.
| Field | BitMEX | XT.com |
|---|---|---|
| Operational status | Closing 23 Sep 2026, 04:00 UTC | Active |
| Founded | 2014 | 2018 |
| Registration / legal entity | HDR Global Trading Limited | Registered in Seychelles (entity not disclosed) |
| US / UK / restricted | US restricted; UK unclear | US, Canada, China, Singapore + more restricted; UK allowed |
| KYC levels & no-KYC limit | KYC required; no no-KYC tier | Unverified no-KYC to 200k USDT/day; KYC & Enterprise tiers above |
| Account verification time | Not disclosed | Up to 2 days |
Fees
BitMEX charged a flat 0.05% on both sides. XT is cheaper for makers and roughly in line for takers, matching the low-fee tier most rivals now run.
| Field | BitMEX | XT.com |
|---|---|---|
| Futures maker / taker (base) | 0.05% / 0.05% | 0.02% / 0.06% |
| VIP 1 threshold | Not disclosed | Not disclosed |
| VIP 1 maker / taker | Not disclosed | Not disclosed |
| 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) | Not disclosed |
| Hidden fees | Not disclosed | Not disclosed |
Products & Contracts
For BitMEX loyalists the important line is the inverse perp: XT keeps it, adds a wide USDT-margined menu, and lifts the leverage ceiling to 125x.
| Field | BitMEX | XT.com |
|---|---|---|
| Perpetual markets | Not disclosed | 706 |
| Inverse / coin-margined perps | Yes (the pioneer) | Yes (COIN-M) |
| Max leverage BTC / ETH | Up to 100x | 125x / 125x |
| Max leverage alts | Up to 100x | Up to 125x |
| Dated futures | Yes | Yes (delivery futures) |
| Options | No | No |
| TradFi / commodity perps | Yes | No |
| Settlement currency | BTC, USDT + others | USDT, BTC, ETH |
Liquidity & Scale
This is where the headline numbers deserve a second look. XT reports multi-billion-dollar futures volume, but reported figures on smaller venues can overstate the depth you actually trade against. BitMEX volume, meanwhile, has thinned as it winds down.
| Field | BitMEX | XT.com |
|---|---|---|
| 24h futures volume | Thin (winding down) | ~$6.3B (reported) |
| Open interest | Not disclosed | ~$6.2B (reported) |
| Market rank | Not disclosed | ~#12 derivatives exchanges |
| Order-book depth | Not disclosed | Not disclosed |
Margin & Risk
XT publishes little on how it handles auto-deleveraging or its insurance fund, so treat the blanks as unverified rather than absent.
| Field | BitMEX | XT.com |
|---|---|---|
| Margin modes | Not disclosed | Cross and isolated |
| Insurance / risk fund | Not disclosed | Not disclosed |
| ADL policy | Not disclosed | Not disclosed |
| Max position limits | Not disclosed | Not disclosed |
Security & Transparency
BitMEX has a genuinely clean record: zero funds lost to hacks since 2014. XT publishes 1:1 proof of reserves, but it also took a breach in late 2024, and that belongs in any honest comparison.
| Field | BitMEX | XT.com |
|---|---|---|
| Proof of Reserves | Yes (published) | Yes, 1:1 Merkle reports |
| Custody partner | Not disclosed | Not disclosed |
| Historical hacks | None since 2014 | $1.7M Nov 2024 breach (reserves only, no user funds affected) |
| Bug bounty / audits | Not disclosed | Not disclosed |
| Cold storage % | Not disclosed | Not disclosed |
Trading Features
Both venues cover the basics an active derivatives trader expects. XT adds a futures grid bot and a demo environment; BitMEX is still known for its API and order types.
| Field | BitMEX | XT.com |
|---|---|---|
| Copy trading | Not disclosed | Yes (some pairs) |
| Bots / grid / DCA | Not disclosed | Yes (Futures Grid) |
| API | Yes (well-regarded) | Not disclosed |
| Demo / paper trading | Testnet (historically) | Yes (demo trading) |
| Advanced order types | Yes | Not disclosed |
| Mobile app rating | Not disclosed | Not disclosed |
User Experience & Support
XT runs 24/7 support and a demo trading environment for new users. Its interface polish is harder to pin down from public materials, so we leave that unrated.
| Field | BitMEX | XT.com |
|---|---|---|
| UI / UX | Pro, advanced-trader oriented | Not disclosed |
| Support | Not disclosed | 24/7 customer service |
| Education / testnet | Testnet (historically) | Demo trading environment |
| Referral / VIP program | Not disclosed | Not disclosed |
Deposits, Tokens & Migration
XT does not publish minimums or a dedicated BitMEX migration path, so plan a normal deposit-and-withdraw move rather than expecting a one-click transfer.
| Field | BitMEX | XT.com |
|---|---|---|
| Min deposit / withdrawal | Not disclosed | Not disclosed |
| Deposit networks | Not disclosed | Not disclosed |
| Fiat on-ramps | Not disclosed | Not disclosed |
| Native token | BMEX | Not disclosed |
| New-user bonus | n/a (closing) | Not disclosed |
Figures checked July 2026 from XT.com's own materials and public exchange data. "Not disclosed" means we could not verify a current figure, not that it is zero. Reported volume and open interest are self-reported and may overstate tradable depth. Confirm live on xt.com.
Who should switch from BitMEX to XT.com
XT makes sense for a specific trader: someone who wants to keep coin-margined perps, values a high no-KYC ceiling, and trades from a country XT serves, the UK included. The 200,000 USDT daily withdrawal limit without ID is genuinely one of the most generous on the market, and 125x leverage clears BitMEX's ceiling. The honest counterweights are real. Reported liquidity looks large, but depth on mid-tier venues often trails the headline, so large orders can slip. XT is younger than BitMEX, took a 1.7M USD reserves breach in late 2024, and user reports mention account freezes after big wins. If depth and track record matter more to you than the no-KYC limit, our top pick is Blofin. For the widest altcoin menu, compare BitMEX vs MEXC, and for another no-KYC-friendly option see BitMEX vs CoinEx. XT sits in the middle of our list of BitMEX alternatives: usable, but not the first name we hand out. Whatever you pick, check your own local law before you trade; this is general information, not legal advice.
Want a stronger option?
XT.com is a reasonable no-KYC venue, but for most traders leaving BitMEX we point to Blofin first: inverse BTC/ETH perps, a no-KYC tier, lower maker fees and deeper liquidity. Set it up before you withdraw so there is no gap.
Open a Blofin account → See all 19 alternatives
We have no affiliate relationship with XT.com and rate it purely on merits. The Blofin link above is an affiliate link: if you open an account through it we may earn a commission at no extra cost to you, and it never changes our ranking. How we make money.
BitMEX vs XT.com FAQ
Is XT.com a good replacement for BitMEX?
For some traders, yes. You keep coin-margined (inverse) perps, get USDT markets up to 125x, base fees of 0.02% / 0.06%, and no-KYC withdrawals up to 200,000 USDT a day. Weigh that against thinner real liquidity than the headline volume suggests, a 1.7M USD reserves breach in late 2024, and US restrictions.
Does XT.com require KYC?
Not to start. The Unverified tier needs no ID and allows withdrawals up to 200,000 USDT per day, one of the higher no-KYC ceilings available. Completing KYC or Enterprise verification raises limits further; verification can take up to two days.
Does XT.com have inverse perps like BitMEX?
Yes. XT lists COIN-M (coin-margined) perpetuals settled in the underlying coin, alongside USDT-margined markets and dated delivery futures, up to 125x with funding every eight hours.
Can US traders use XT.com?
No. XT's User Agreement prohibits the US along with Canada, mainland China, Singapore and others. It does serve the UK. Check your own local law first; this is not legal advice.
Last checked July 2026. Compare other options: Blofin (our top pick), MEXC (most altcoins), CoinEx (no-KYC friendly), or the full list of BitMEX alternatives.