Where to execute the signals.
Botely is non-custodial — you choose the venue. This page compares the most common options for retail execution: fees, liquidity, what's available via API.
How to read this page
Every signal includes a market (e.g. ETH-USD), a side (LONG / SHORT), a suggested entry, take-profit and stop-loss. Your job is to translate that into an order on your venue of choice. The right venue depends on (1) the size you trade, (2) whether you want to short, (3) jurisdictional access, and (4) whether you automate via API.
Why Botely runs on Hyperliquid (and not on a CEX)
MiCA — the EU regulation that has applied since 30 Dec 2024 — covers spot crypto-assets only. Crypto derivatives (perpetuals, futures, options) stay under MiFID II as financial instruments. To legally offer them to EU retail, a venue needs a MiFID II investment-firm license — which the major centralized exchanges don't have for crypto derivatives.
Practical consequence: Binance withdrew futures from Italian retail in July 2021 after CONSOB's warning. Bybit, Kraken, OKX progressively restricted derivatives for EEA retail through 2023–2024. Coinbase never offered them to EU retail at scale. Even spot-margin shorting (borrow → sell → rebuy lower) has been wound down on most CEXes for EEA users, because that classification pulls into MiFID II too.
Hyperliquid is a perpetual DEX with self-custody, no centralized operator offering the service to you, no KYC at the protocol level — the user interacts directly with the protocol via their own EVM wallet. MiCA Recital 22 excludes fully-decentralized services without an identifiable provider; the Italian retail user interacts with a protocol — not with a regulated investment firm. That's the practical reason Botely runs on Hyperliquid rather than a CEX.
Not legal advice. Verify your own jurisdictional situation. We don't endorse using VPN / non-EU residency to access restricted venues.
| Venue | Instrument | Maker | Taker | Liquidity | API shorts |
|---|---|---|---|---|---|
Hyperliquid Perp DEX | Perpetual futures | 0.02% | 0.045% | High | |
Binance Futures CEX perp | Perpetual futures | 0.02% | 0.04% | Very high | |
Bybit CEX perp | Perpetual futures | 0.02% | 0.055% | Very high | |
MEXC CEX perp | Perpetual futures | 0% | 0.02% | Medium-high | |
Coinbase Advanced / Kraken (spot) Spot CEX | Spot | 0%–0.4% | 0.05%–0.6% | Very high |
Hyperliquid
Pro
- Same venue Botely runs on — track record matches what you execute
- Deepest perp DEX liquidity today; absorbs retail-size fills with negligible slippage on ETH/SOL/BNB
- Sub-second order placement, well-documented REST + WS API
- EU-friendly (no centralised KYC at the protocol level); non-custodial — you keep your EVM seed
Contro
- Validator-set is independent but smaller than fully permissionless L1s — newer venue, shorter operational track record than the largest CEXes
- US users restricted
- BNB-USD has thinner books than ETH/SOL on every perp venue, including HL — for very large BNB positions plan slippage
Binance Futures
Pro
- Highest crypto perp liquidity globally
- Mature REST + WS APIs, well-supported libraries
- Maker rebates at higher VIP tiers
Contro
- Not available to users in several jurisdictions (US, UK partial, etc.)
- Strict KYC required to enable futures
- Counterparty risk — you hold funds on the exchange
Bybit
Pro
- Liquidity comparable to Binance on ETH/SOL/BNB perp
- Solid API, mature trading infrastructure
- Often slightly looser KYC than Binance
Contro
- Geofencing on US + several other jurisdictions
- Counterparty risk (CEX, you fund the account)
- Recent settlements have raised some regulatory uncertainty
MEXC
Pro
- Lowest fees among the major venues (0% maker is real on perp)
- Wide long-tail of pairs
- API supports both LONG and SHORT — automation friendly
Contro
- Liquidity below Binance/Bybit on top pairs
- Counterparty risk higher than average (less regulatory clarity)
- Past withdrawal-delay reports during stress periods
Coinbase Advanced / Kraken (spot)
Pro
- Strongest regulatory standing (US-licensed)
- Fiat on/off ramps built in
- Best for retail who don't want a perp account
Contro
- Spot only — you can execute LONG signals but not SHORT (unless you open margin manually, which often isn't available via API)
- Higher taker fees than perp venues on the standard tier
- Cannot mirror Botely's full strategy 1:1
Quick guide
Smallest portfolio, full automation
Start on Hyperliquid — same venue Botely runs on, no KYC at protocol level, audit-grade execution. Plan slightly more headroom on BNB-USD size, where books are thinner than ETH/SOL.
Growing portfolio, full automation
Stay on Hyperliquid — deep books on ETH/SOL/BNB absorb mid-five-figure size without slippage drag. Move to Binance only if you need pairs outside ETH/SOL/BNB and accept KYC + counterparty risk.
Fee-sensitive, OK with thinner books
MEXC perp — 0% maker is real, but you'll see wider spreads on bad-news days.
Spot-only, US regulated
Coinbase / Kraken — but skip SHORT signals (or execute them manually elsewhere).