Crypto exchange Derebit has released new data on the fastest cryptocurrency exchanges. The data ranges from the fastest exchanges to those that are still struggling to keep up the pace. When it comes to high-frequency trading, speed is one of the most crucial factors when trading in cryptocurrencies. In fact, a fraction of a second makes a huge difference between profit and loss. Every millisecond counts when executing orders.
Derebit closely monitored three major spot exchanges: Binance, Bitfinex and Coinbase. It also looked at three major crypto derivatives exchanges OKEx, Bitmex and its own platform. It must be mentioned here that Derebit’s incentive to share its analysis is that it recorded as the fastest order execution in tests.
Crypto exchange Derebit tested the most liquid pair on each of the exchanges to determine the time it takes to execute a market order and add a limit order. It repeated these tests every minute for a number of weeks. Most of the exchanges failed to achieve either task in fewer than 10 milliseconds, with OKEx faring the worst. Some of the exchanges recorded a number of instances where a transaction took longer than one second with Bitmex scoring the worst.
Derebit has invited interested exchanges to download its speed analysis methodology and data to inspect it themselves and verify its findings. Binance’s average order execution delay was 37.2 milliseconds, while OKEx’s average order execution delay was 127 milliseconds, as stated in the Bitcoin News report.
John Jansen, crypto exchange Derebit CEO stated in a recently held interview that the exchange stands out in terms of speed and stability of the platform. He further added that they spent the first half of 2018 optimizing the exchange platform. The exchange is ready to deal with any volume, he stated. According to him, every product on Derebit can deal with 5000 orders per second with individual orders being processed within a couple of milliseconds, as stated in the Medium report.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]