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PMP is better than CBAP, its more knowable and desirable by employers
PMP certification is much better known than the CBAP. PMP certification is better in finding a new job.
But the CBAP certification is currently a kind of outstanding attribute of a consultant, maybe sometimes the unique selling proposition when it comes to a competition regarding a new job or project assignements.
There is quite a difference between both the certifications: PMP (Project Management Professional) is a Project Management certification offered by PMI whereas CBAP (Certified Business Analysis Professional) is for Professionals who have years of experience in business analysis and are experts in identifying business needs of an organization.
Whether to choose PMP or CBAP, it completely depends on your career aspirations and your current industry/role. If you are a Business Analyst and looking forward to further enhance your knowledge and growth, you can go for CBAP but if you are more inclined towards managing projects, then PMP is a right certification for you.
You can read this article to know more about PMP and how it can add value to your managerial career.