BTC/USDT
Where BTC/USDT trades: Binance, OKX, Bybit, KuCoin and Kraken, spot and perpetual futures, with per-venue 24h volume and share. $36.81B in 24h volume.
BTC/USDT trades on 5 exchanges across 9 listings — 4 perpetual futures markets and 5 spot books.
Binance runs the deepest of them at $15.81B over 24 hours, 42.9% of the $36.81B total we measure across all 9 of them.
Where BTC/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
BTCUSDT
|
$15.81B | 42.9% |
| OKX | Perpetual |
BTC-USDT-SWAP
|
$9.69B | 26.3% |
| Bybit | Perpetual |
BTCUSDT
|
$7.69B | 20.9% |
| Binance | Spot |
BTCUSDT
|
$1.41B | 3.8% |
| OKX | Spot |
BTC-USDT
|
$680.8M | 1.8% |
| KuCoin | Perpetual |
XBTUSDTM
|
$666.9M | 1.8% |
| Bybit | Spot |
BTCUSDT
|
$647.6M | 1.8% |
| KuCoin | Spot |
BTC-USDT
|
$202.2M | 0.5% |
| Kraken | Spot |
XBTUSDT
|
$13.5M | <0.1% |
Volume is 24h turnover in USD, taken from each exchange's public ticker. A dash means the venue quotes the pair against something other than a USD stablecoin, so we have no honest USD figure for it rather than a converted guess. Updated 2026-08-19 16:29 UTC.
Spot or perpetual
Perpetual futures: Binance, OKX, Bybit and KuCoin.
Spot: Binance, OKX, Bybit, KuCoin and Kraken.
Where the liquidity sits
The top 3 venues hold 90.2% of measured BTC/USDT turnover: Binance perpetuals ($15.81B, 42.9%), OKX perpetuals ($9.69B, 26.3%) and Bybit perpetuals ($7.69B, 20.9%).
Perpetual futures account for 92.0% of it, spot the rest. Futures turnover is notional, so it is not directly comparable to spot volume — the same dollar of margin moves several dollars of notional.
How we measure this
Volume is 24-hour turnover from each exchange's own public ticker, refreshed on a schedule rather than streamed. We only publish a dollar figure where the pair is quoted against a USD stablecoin, so the number is the venue's own turnover and not a conversion of ours.