COW/USDT
Where COW/USDT trades: Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $3.1M in 24h volume.
COW/USDT trades on 3 exchanges across 5 listings — 3 perpetual futures markets and 2 spot books.
Binance runs the deepest of them at $2.2M over 24 hours, 72.7% of the $3.1M total we measure across all 5 of them.
Where COW/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $2.2M | 72.7% |
| Binance | $444,392 | 14.5% |
| Bybit | $308,784 | 10.1% |
| KuCoin | $60,054 | 2.0% |
| KuCoin | $23,024 | 0.8% |
Volume is 24h turnover as each exchange's own public ticker reports it (USD-quoted; on-page amounts follow your selected display currency). A dash means the venue quotes the pair against something other than a USD stablecoin, so there is no honest reported figure for it rather than a converted guess. Updated 2026-09-09 08:38 UTC.
Spot or perpetual
Perpetual futures: Binance, Bybit and KuCoin.
Spot: Binance and KuCoin.
Where the liquidity sits
The top 3 venues hold 97.3% of measured COW/USDT turnover: Binance perpetuals ($2.2M, 72.7%), Binance spot ($444,392, 14.5%) and Bybit perpetuals ($308,784, 10.1%).
Perpetual futures account for 84.7% 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. A venue enters the total only where it quotes the pair against a USD stablecoin, so the underlying figure is the venue's own reported turnover — never a cross-rate guess of ours. On-page amounts follow your selected display currency.