I've used both for years. Here's my honest take:
- Fees: Bybit wins (0.06% vs Binance 0.1%)
- Coins: Binance wins (350+ vs Bybit 280+)
- Withdrawal speed: Bybit slightly faster
- Interface: Binance is more complex, Bybit is cleaner
- Futures: Bybit is better for futures traders
- Altcoins: Binance has more options
My setup: Binance for altcoins, Bybit for futures. Best of both worlds.