MEXC, a prominent zero-fee cryptocurrency exchange, has secured the top position in near-touch order book depth for Bitcoin (BTC) and Ethereum (ETH) futures, as well as silver (XAG) futures, according to TokenInsight's July 2026 Crypto Exchange Liquidity Report. The report assessed nine major exchanges on order book depth, slippage, and bid-ask spreads across spot and futures markets for BTC, ETH, gold, and silver.
Spot Market Performance
In spot trading, MEXC's cumulative depth at the 0.01% band reached $0.91 million, nearly matching the leading exchange's $0.92 million. At the broader 0.03% band, MEXC ranked third with $1.76 million. Execution quality was also strong: median slippage for $100K BTC sell orders was 0.004%, among the tightest in the sample, while the P90 slippage of 0.013% was the lowest across all venues. For ETH, MEXC recorded the lowest median slippage at 0.009%, with P90 slippage of 0.024%, tied for the lowest.
Futures Depth and Execution
MEXC's cumulative futures depth for BTC and ETH combined was the highest at the 0.03% band, reaching $15.71 million. At the 0.05% band, depth expanded to $20.83 million, ranking third and within 2.1% of the top exchange. For large futures orders, MEXC posted the lowest median slippage for ETH at 0.006% and 0.015% for $500K and $1M sell orders, with P90 slippage of 0.011% and 0.022%, also the lowest. BTC median slippage was 0.003% and 0.009% for the same sizes, ranking second.
Silver Futures Leadership
MEXC's XAG futures depth ranked first across both measurement bands, with approximately $0.4 million at the 0.01% band—about twice the next-closest exchange—and roughly $1.0 million at the 0.03% band, 43% higher than the runner-up. Slippage for $100K XAG sell orders was near zero, and for $300K orders it was 0.013%, the lowest in the sample. These metrics highlight MEXC's ability to handle precious metals futures with minimal price impact.
Implications for Traders
Deep order books and tight execution are critical for institutional and retail traders seeking efficient entry and exit points. MEXC's performance in this report underscores its commitment to liquidity infrastructure, which can reduce trading costs and improve execution certainty. As silver prices face headwinds from a stronger dollar, such liquidity becomes even more valuable for managing volatility.
The report's findings align with broader market trends where exchanges compete on execution quality. For investors monitoring equity futures reacting to earnings, the ability to trade crypto and tokenized assets with minimal slippage is increasingly important. MEXC's ranking suggests it is well-positioned to serve traders seeking diversified exposure across digital and traditional assets.
MEXC plans to continue investing in liquidity infrastructure to enhance user experience and expand access to global markets. With over 40 million users across 170+ markets, the exchange offers trading in more than 3,000 digital assets, including tokenized stocks, ETFs, and commodities.
This article is for informational purposes only and does not constitute financial advice.
