White Label Crypto Exchange

Cryptocurrency industry showed a significant growth in 2024: the average trading volume on spot reached $2.23 trillion (~ 2 times higher than last year), and open-ended futures - $18.9 trillion (+89% growth). At the same time, 2025 has all the prerequisites for further popularization of crypto-trading: traditional financial institutions are increasingly giving the opportunity to open accounts in coins, the mass introduction of blockchain technology in all sectors - from finance to healthcare - is growing, and the number of tokens listed on exchanges is increasing every year. Although this market is highly competitive, starting your own exchange in 2025 could be a cost-effective solution. Take a look at the statistics, as well as the main pitfalls of the launch, and find out how much does White Label crypto exchange cost.

Cryptocurrency exchanges: spot, futures and margin ones

Cryptocurrency exchange is a platform allowing traders to make transactions in coins and tokens: BTC, ETH, SOL and others. Transparency, security and transaction speed are ensured through the usage of blockchain technology and smart contracts. But at the same time, the site can function fully on the blockchain (this option is used in decentralized exchange software), and only partially use the technology to deposit/withdraw funds from the account, and otherwise have a classic structure with external servers and databases (CEX option). The bulk of the market in 2025 belongs to a few top platforms: Binance, Bybit, KuCoin and so on.

CEXs account for the largest transaction volume: they have a wider target audience due to their simplified interface, higher liquidity and a larger selection of available coins/tokens. But there are also large decentralized players on the market: Raydium (trading volume in 24 hours - $3.17 billion), Uniswap V3 ($1.241 billion), PancakeSwap V2 BSC($1.537 billion) and others.

Types of bidding: which functionality to choose?

Currently, spot transactions are the easiest type offering all the top crypto exchanges. It is a direct exchange of one coin for another without using borrowed funds. The number of spot transactions often prevails over futures transactions, although they are inferior in terms of trading volume. For example, in February 2025, the volume of spot transactions on Bybit was estimated at $7.18 billion. The number of available coins varies greatly: on average, according to CoinMarketCap, from 400+ (example - Upbit with 439 coins) to 4,000+ (example - Gate.io with 4,325 coins/tokens). The largest number of transactions is in top coins: BTC, ETH, SOL, as well as stablecoins USDT, USDC.

Meanwhile, good exchanges offer 5+ types of orders on the spot market:

• Market: instant buy/sell at the current price;
• Limit: delayed buy/sell when the price of the asset reaches the values set by the trader;
• Stop Loss: automatic sale when a specific price is reached. Serves as a tool to reduce risks and protect against large losses;
• Take Profit: automatic closing of a position when a certain profit is received;
• Trailing spot: a dynamic order that changes following the price with a certain “step”. It is intended for fixing and reducing losses in case of a sharp change in the trend + retaining profits in case of growth and so on.

The second type is margin deals. These are deals in which a trader takes a “loan” from the exchange, i.e. trades not only with his own funds to increase potential profit. Because of this, the trading volume of margin deals is higher than on the spot (often 4+ times). At the same time, the number of available trading pairs for margin trading is lower than for spot: for example, on Binance 400+, and on Bybit: 100+. The list of available coins often includes: BTC, ETH, USDT, BNB, i.e. top coins, for little-known altcoins this option is often unavailable. The size of leverage also varies from exchange to exchange and depending on the coins that make up the pair:

• On Binance, leverage for spot trading reaches x20 and for futures trading it reaches x125 (example: BTC/USDT);
• On Bybit: up to x10 for spot and x100 for futures (example: ETH/USD);
• On Kraken: up to x5 for spot (example: XRP/USD);
• KuCoin: up to x10 for spot (example: BTC/USDT).

Margin trading is also becoming increasingly available on DEX in 2025, but leverage tends to be lower: for example, on dYdX - up to x20, on Perpetual Protocol - up to x10. The number of available pairs for margin trades is also lower: often 20-80+. This is due to the lower liquidity and lack of a centralized structure for borrowing, as in the case of CEX.

The third type is futures trading platform. It is a financial instrument, using which there is no direct exchange of cryptocurrencies, but traders conclude contracts for the transfer of assets through time at a certain price. When dealing with cryptocurrency futures, leverage is also used, so this type of trading has a higher turnover.

The Financial Times reported that derivatives accounted for 71% of the market's trading volume in 2024, and CScalp published statistics that monthly BTC futures trading volume is 4 times that of spot.

CEX accounts for the most of the futures trading turnover, led by Binance (trading volume 24 h derivatives - $62 billion), Bybit ($25.6 billion), and BitGet ($24.6 billion). However, there are also large DEXs: dYdX, specializing in open-ended contracts, Perpetual Protocol, ByBit DEX.

Futures contracts come in different types, the variety of options depends on the policy of a particular exchange. But the wider the target audience you want to attract, the wider the choice should be. And there are Coin-Margin futures (with collateral in cryptocurrencies BTC/ETH/LTC and so on) and USDT-M with margin in stablecoins. Contact classifications also include:

• Indefinite with no expiration date (available on Binance, dYdX, Bybit and so on);
• Index Futures for speculating on indices rather than the cryptocurrencies themselves, such as the BTC index;
• Quarterly futures contracts with a specific expiration date;
• Variable leverage contracts, where the amount of margin can be changed depending on the market situation;
• Options on futures, which give the right (not the obligation) to buy/sell a contract at a certain price after a specified period of time, and others.

Pitfalls of different exchange types

From a technical and legal point of view, the simplest option is to launch your own spot exchange. However, it is necessary to take into account its difficulties:

• The importance of ensuring high liquidity + a large selection of available cryptocurrencies (this niche is the most competitive);
• Ensuring a high level of security: in the case of CEX, the focus is on the protection of traders' funds, which they transfer to the exchange when concluding transactions, and in DEX - on correct operation and the absence of vulnerability in smart contracts. It is necessary to provide protection against DDos attacks, user verification mechanisms (for CEX);
• Integration of payment gateways, if you also plan to work with fiat. For example, support for bank transfers, SEPA, SEPA Instant, payment systems and wallets PayPal, Payeer, AdvCash and others;
• Creation of the simplest and most understandable interface, as your audience will largely consist of newcomers to crypto-trading;
• Compliance with legal norms: KYC/AML policies and local laws of different countries (relevant for CEX). For example, in the US the norms are set by FinCEN + SEC, in the EU - MiCA, in Singapore there is the PSA payment services law and so on. For DEX, the regulation is weaker.

A margin exchange is a little more difficult to launch. In addition to the basic requirements that exist for spot, it is additionally important for the owner to keep a close eye on risks, i.e. it is necessary to provide for:

• a clear margin system (leverage size for different trading pairs);
• protection against manipulation;
• position liquidation mechanisms;
• protection of the platform against losses: Margin Call & Forced Liquidation - warning + automatic closing, Margin Maintenance (e.g. 0.5-3% of the total amount of the transaction that should be in the trader's account), ADL system for automatic reduction of positions, creation of an exchange insurance fund and so on.

Legal requirements for margin platforms are also greater, as such transactions are associated with higher risks. For example, in the US, additional requirements are imposed by the CFTC, KYC/AML procedures are stricter + the platform must set minimum capital requirements for users and leverage limits. In the EU, MiCA requires exchanges to introduce additional regulatory measures to mitigate risks for users. Also in some countries, such as Germany, there are strict leverage limits (no more than x3).

Futures exchange is one of the most complex models in terms of startup. It has the strictest legal requirements, as futures are a complex and risky financial instrument. In the US, this type of trading is subject to CFTC regulations, which require CEX owners to conduct thorough user reviews to avoid manipulation. Full transparency on the part of the platform is important.

As futures trading is leveraged, the exchange must implement mechanisms to liquidate positions, prevent defaults, manage liquidity, and provide leverage for trades. The operational complexities of running such a platform are also higher; a futures exchange must:

• Operationally process large volumes of data in real time;
• Perform complex calculations related to derivatives and risk;
• Ensure continuity of trading and market access;
• Guarantee the security of storage and transfer of funds;
• Implement arbitrage mechanisms.

Earning on different types of exchanges

The source and amount of income of a crypto exchanges owner will vary depending on many factors (liquidity, number of visitors, trading volume, size of commissions, list of additional services and so on), but one of the parameters is the exchange type.

Spot - often the least profitable due to the lower trading volume compared to margin/futures, but it has a wider target audience (there is an opportunity to attract more traders) + less risk for the owners. The main source of income is commissions for deposits/withdrawals and trades (take/make often fluctuate in the range of 0.1-0.3%). Examples: on Binance - 0.1%, on KuCoin also 0.1%, on Kraken - 0.16% for maker and 0.26% for taker.

On a margin exchange, the owner will also receive the main income from commissions per transaction, but additionally also % for borrowing funds. Given the large amounts of turnover due to margin, the amount of income is higher. Examples of commissions: on Binance - 0.02% for maker, 0.04% for taker, % for borrowing may differ depending on the pair, but often - 0.01%. On KuCoin, the % on margin trades is the same as on the spot, but there is an extra commission of 0.02-0.05% per day on borrowed funds.

On futures crypto exchanges the main income is also from commissions: for transactions + % from margin, the income is the highest, but also the risks are maximum. This type of trading attracts traders with large capital, who often trade. Examples of commissions: Bybit - 0.025% maker, 0.075% taker, OKX - 0.02% and 0.05% respectively.

The size of commissions can vary depending on the type of coins + reduced within the loyalty program. For example, there is often a system of VIP levels.

Also, crypto exchanges of any type may have additional sources of revenue:

• Fees for listing new tokens;
• Fees for deposit/withdrawal in fiat;
• Fees for access to extra services and tools (for analytics, risk assessment, tutorials, and so on);
• % for cryptocurrency liquidity staking/pools;
• Spreads on purchases/sales;
• Affiliate programs and advertising;
• ICOs;
• Payment solutions for businesses;
• DeFi products.

Best White Label Crypto Exchange Solution

Buying a ready-made template (White Label trading software) is an optimal solution that will save time to market - instead of 12+ months, as when developing from scratch, everything takes 1-3 months on average. It is also a significant cost savings: on average, it will be 3 times cheaper, but sometimes even 10+ times cheaper. Approximate price of White Label solution in our company Merehead with full template revision and brandomization:

• Most basic option: $20,000 to $30,000;
• Margin platform: from $30,000 to $50,000;
• Crypto futures exchange: from $60,000 to $150,000.

Templates will be fully customized, according to the customer's requests. First of all, it includes branding: logo creation, choice of color scheme, design, fonts and adding elements to all pages of the platform. Navigation will also be built individually, the UX will be fully adapted to the platform's CA (beginners, experienced traders targeting futures trading and so on). Also the finalization of the template includes:

• Legal support: this includes obtaining licenses in the jurisdiction of your choice and following all country-specific requirements, implementing mechanisms to pass identification procedures (within KYC/AML), creating all legal documents - “Privacy Policy”, “User Agreement”, etc;
• Development of the Roadmap and White List of the project;
• Adding selected cryptocurrencies, financial instruments (options, futures contracts and so on) + connecting financial gateways for working with fiat. The number and types of trading pairs are also selected by the customer;
• API integration for working with external resources and for developers to gain access (using it you will be able to connect wallets, bots for trading, for example, based on AI and so on, as well as to connect the best liquidity providers if necessary);
• Setting up security: 2-factor authentication, protection from DDos attacks, setting up SSL and so on + mechanisms for monitoring activity and correctness of work + creating systems for safe storage of funds (on cold and hot crypto-wallets);
• Multilingualism customization and UI/UX design adaptation for your target audience;
• Providing feedback to users: setting up online support chat, possibly introducing an AI bot for personalized answers, creating a FAQ section, etc;
• Implementation of all necessary trading tools: Order types (limit, stop-loss and so on, the number can vary), Charts and diagrams for analytics, Trading indicators (MA, RSI, MACD and so on), API for automated trading, etc;
• Implementing a base for promotion and advertising, including promotions and referral programs + creating affiliate programs.

Timing and price will vary depending on the jurisdiction chosen and the number/complexity of additional options. At the briefing stage with the client, our team with Merehead immediately discusses the key issues:

• Types of trades available: spot, margin and/or futures;
• Type of structure: centralized CEX or decentralized DEX;
• Blockchain choice (especially important in the case of DEX): Ethereum and its layer 2 solutions, BSC, Solana and others. The size of commissions (gas fees), speed of transactions, access to different APIs and DeFi tools depend on it;
• Jurisdiction selection. In some countries it is easier to get a license: the easiest in Malta, Gibraltar, Singapore and Lithuania, the most difficult to register in the USA, China, UK and Japan;
• Selection of basic functionality (order types, ways of passive earnings for traders, additional sections - for example, engagement);
• Choice of extra options: mobile application (for iOS, Android, Windows), setting up bots for automated trading, connecting channels in social networks and so on.

At the initial stage, our team will also analyze the niche and competitors, help to identify their target audience and create a portrait (by geography, demographics, devices used, etc.). Paid versions of SimilarWeb, SemRush and other programs are used. This will help to customize the interface and functionality for specific audiences and jurisdictions. Also, our developers and marketers understand the current trends in the crypto industry as a whole (they can advise on the most popular pairs, tools and so on), as well as in UI/UX design of websites and applications. So when buying White Label solution, we can combine your preferences with the latest trends that will appeal to a wider CA.