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: 20-SEP-2026 21:45:03 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 | 1.10% | 1.10% | 0.95% | 0.95% |
| 2) Deribit | 7.04% | 7.04% | 4.75% | 4.75% |
| 3) Binance | 2.36% | 2.36% | 7.02% | 7.02% |
| 4) Bybit | 2.49% | 2.49% | 1.04% | 1.04% |
OTM
out-of-the-money · ±2% of spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.81% | 0.81% | 0.32% | 0.32% |
| 2) Deribit | 7.49% | 7.49% | 4.28% | 4.28% |
| 3) Binance | 1.10% | 1.10% | 0.72% | 0.72% |
| 4) Bybit | 1.06% | 1.06% | 0.44% | 0.44% |
Deep ITM
in-the-money · ≥10% from spot
| Venue | ₿ BTC | Ξ ETH | ||
|---|---|---|---|---|
| Spread (%) | 7d avg (%) | Spread (%) | 7d avg (%) | |
| 1) ClickOptions | 0.85% | 0.85% | 0.84% | 0.84% |
| 2) Deribit | 2.70% | 2.70% | 2.43% | 2.43% |
| 3) Binance | 17.19% | 17.19% | 27.35% | 27.35% |
| 4) Bybit | 2.96% | 2.96% | 3.55% | 3.55% |
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 | 2.24% | 2.24% | 0.89% | 0.89% |
| 2) Deribit | 14.24% | 14.24% | 13.35% | 13.35% |
| 3) Binance | 8.11% | 8.11% | 8.61% | 8.61% |
| 4) Bybit | 21.26% | 21.26% | 16.41% | 16.41% |
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 20-SEP-2026 09:00:05 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 | 0.81% | 1.09% | 0.82% | 0.74% |
| 2) Deribit | 4.08% | 9.24% | 17.81% | 13.06% |
| 3) Binance | 36.25% | 6.78% | 9.82% | 2.40% |
| 4) Bybit | 1.95% | 2.18% | 3.72% | 1.36% |
₿ BTC Top-5 spread is 94% tighter on ClickOptions vs. peer benchmark average.
Ξ ETH Top-5 spread is 92% 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 | $7,565 | $386 | $9 | $8 |
| 2) Deribit | $7,673 | $424 | $11 | $10 |
| 3) Binance | $9,370 | $412 | $10 | $9 |
| 4) Bybit | $7,608 | $410 | $10 | $9 |
₿ BTC Top-5 premium is 8% cheaper on ClickOptions vs. peer benchmark average.
Ξ ETH Top-5 premium is 12% cheaper on ClickOptions vs. peer benchmark average.
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 | $369.00 | $374.00 | $5.00 | 1.35% | $2.6M |
| Deribit | $401.16 | $441.28 | $40.12 | 9.52% | $7.8M |
| Binance | $400.00 | $405.00 | $5.00 | 1.24% ◄ | $969k |
| Venue | Bid | Ask | Spread $ | Spread % | Size |
|---|---|---|---|---|---|
| ClickOptions | $31.69 | $31.98 | $0.29 | 0.91% ◄ | $76k |
| Deribit | $24.44 | $38.59 | $14.15 | 44.90% | $3k |
| Binance | $10.20 | $35.00 | $24.80 | 109.73% | $9k |
| Bybit | $26.80 | $35.70 | $8.90 | 28.48% | $22k |
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.