Cost Analysis
What options really cost to trade across venues — the bid/ask spread you cross, the premium you pay, and the liquidity behind the quote. Top-of-book, matched like-for-like across ClickOptions, Deribit, Binance and Bybit.
Snapshot: 05-NOV-2026 07:45:01 UTC
Look up any BTC or ETH contract and compare its live top-of-book spread across all venues — then share the card.
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Average top-of-book spread and premium per venue by moneyness — near the money (±2%) and out on the far tails (≥10%). Today's value, the 7-day average and history. Near buckets are matched across all four venues; the deep tails are matched ClickOptions↔Deribit (Binance/Bybit rarely list them).
ITM
in-the-money · ±2% of spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.86% | 0.82% | 0.86% | 0.87% |
| 2) Deribit | 6.22% | 6.58% | 4.47% | 3.86% |
| 3) Binance | 3.67% | 3.70% | 1.76% | 2.43% |
| 4) Bybit | 1.74% | 1.66% | 1.40% | 1.12% |
OTM
out-of-the-money · ±2% of spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.55% | 0.90% | 0.27% | 0.27% |
| 2) Deribit | 8.04% | 8.33% | 5.94% | 4.75% |
| 3) Binance | 0.93% | 1.64% | 0.71% | 1.38% |
| 4) Bybit | 0.93% | 1.83% | 0.69% | 1.08% |
Deep ITM
in-the-money · ≥10% from spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.71% | 0.71% | 0.80% | 0.80% |
| 2) Deribit | 1.40% | 1.78% | 1.98% | 2.57% |
| 3) Binance | 1.92% | 2.09% | 3.37% | 7.61% |
| 4) Bybit | 3.04% | 3.08% | 2.88% | 2.92% |
Deep-tail universe = contracts quoted by both ClickOptions and Deribit; Binance/Bybit rarely list the tails, shown where present.
Deep OTM
out-of-the-money · ≥10% from spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 2.07% | 2.06% | 0.93% | 0.86% |
| 2) Deribit | 13.75% | 13.88% | 13.27% | 13.72% |
| 3) Binance | 3.80% | 5.24% | 11.62% | 13.77% |
| 4) Bybit | 16.19% | 18.16% | 15.01% | 15.04% |
Deep-tail universe = contracts quoted by both ClickOptions and Deribit; Binance/Bybit rarely list the tails, shown where present.
The daily options benchmark on the five most-traded contracts per asset — spread and premium comparison per venue with 7-day averages, today's observation and 14-day history.
As of 05-NOV-2026 09:00:02 UTC
Spread comparison
Top-5 spread by traded volume (as % of mid)
| Venue | ₿ BTC options | Ξ ETH options | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.85% | 0.81% | 0.53% | 0.41% |
| 2) Deribit | 9.29% | 9.03% | 2.53% | 5.75% |
| 3) Binance | 5.34% | 6.10% | 0.62% | 1.05% |
| 4) Bybit | 1.28% | 1.57% | 1.07% | 1.06% |
₿ BTC Top-5 spread is 84% tighter on ClickOptions vs. peer benchmark average.
Ξ ETH Top-5 spread is 62% tighter on ClickOptions vs. peer benchmark average.
Lower cost to enter + exit across the most-traded contracts. Peer avg = mean of Deribit, Binance, Bybit.
Premium comparison
Top-5 average premium by traded volume (USD)
| Venue | ₿ BTC options | Ξ ETH options | ||
|---|---|---|---|---|
| Prem ($) | 7d avg ($) | Prem ($) | 7d avg ($) | |
| 1) ClickOptions | $411 | $312 | $61 | $13 |
| 2) Deribit | $436 | $353 | $61 | $15 |
| 3) Binance | $424 | $307 | $56 | $15 |
| 4) Bybit | $423 | $331 | $56 | $14 |
₿ BTC Top-5 premium is 4% cheaper on ClickOptions vs. peer benchmark average.
Ξ ETH Top-5 premium is 5% above peer benchmark average on ClickOptions.
Average premium paid on the same matched contracts. Peer avg = mean of Deribit, Binance, Bybit.
Drill into any of the Top-5: full venue comparison — bid/ask, spread, premium and top-of-book size — same read as the compare card below.
| Venue | Bid | Ask | Spread $ | Spread % | Size |
|---|---|---|---|---|---|
| ClickOptions | $1,258 | $1,269 | $11.00 | 0.87% ◄ | $595k |
| Deribit | $1,215 | $1,294 | $78.41 | 6.25% | $2.0M |
| Binance | $1,290 | $1,310 | $20.00 | 1.54% | $314k |
| Venue | Bid | Ask | Spread $ | Spread % | Size |
|---|---|---|---|---|---|
| ClickOptions | $29.26 | $29.41 | $0.15 | 0.51% | $144k |
| Deribit | $34.83 | $35.99 | $1.16 | 3.28% | $3.0M |
| Binance | $34.80 | $35.00 | $0.20 | 0.57% | $724k |
| Bybit | $34.70 | $34.80 | $0.10 | 0.29% ◄ | $226k |
Live exchange data, top of book. Moneyness spreads/premiums are averages over the matched contract set (crossed/one-sided quotes excluded); OKX excluded (feed quality). Not investment advice.