Bitget Tops Binance, Hyperliquid for US Stock Perpetual Futures Liquidity
Liquidity in U.S. stock perpetual futures can vary significantly across different crypto exchanges. Based on cross-exchange depth data, Bitget leads the sample for overall order-book depth.
For traders comparing U.S. stock perpetual futures, a narrow spread may be enough for small trades but larger orders depend on available liquidity across multiple levels of the order book.
The ranking focuses on spread, visible order-book depth, and potential slippage rather than trading volume alone.
Binance ranks second in the 36-contract comparison, followed by Hyperliquid, OKX, and Bybit. Bitget's lead was strongest close to the market price, where it recorded the largest gap in aggregate depth versus competing venues.
According to Block Scholes analysis, resting liquidity on NVDA-USDT at one measured point in May 2026 was approximately $4.1 million within 2% of the mid-price.