Binoculars divide cleanly by what they are for, so the useful version of a best list is one that names the job first. This page ranks configurations rather than models, because the configuration decides most of the outcome and every maker offers all of them.
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The budget end, and what actually improves
Below a certain price the centre of the image is usually fine and the edges are mushy, bright objects carry a colour fringe, and the hinge will not hold its setting. Porro prism designs, the traditional zigzag shape, outperform slim roof prism pairs at the same low price, because roof prisms need tighter tolerances and better coatings to match them.
Compact pairs, and the honest trade
An 8x25 gathers a quarter of the light of an 8x50. In daylight you will not notice; at dusk you will, and on the night sky the difference is decisive. The case for a compact pair is that it is with you, which beats a better pair at home, and that argument is stronger than it sounds.
Zoom pairs, which give up the most
A zoom mechanism costs optical quality across the whole range, narrows the field noticeably at the low end, and reaches magnifications that are unusable handheld at the top. For daylight at moderate power they are serviceable; for the night sky a fixed pair of the same price is better in every way.
Questions people ask about binoculars
What are the best budget binoculars?
A porro prism 8x42 or 10x50 from a known maker. At the same low price a porro pair usually outperforms a slim roof prism one.
Are zoom binoculars any good?
Serviceable in daylight at moderate magnification, poor at the top of the range and on the night sky. A fixed pair of the same price is better optically.
What are the best compact binoculars?
An 8x25 from a reputable maker, accepting that it is a daylight instrument. Below 25mm the view at dusk falls away quickly.
Are roof prism binoculars worth it at the budget end?
Not usually, and the reason is tolerances rather than taste. A roof prism needs tighter alignment and better coatings than the traditional zigzag Porro design to reach the same image, so at the same low price a Porro pair outperforms a slim roof prism one. What you are buying with the roof prism at that price is the shape: narrower, easier to hold and easier to pack. Higher up the range the gap closes, which is where a roof prism pair starts to make sense on its own merits rather than on its outline.