COW/USDT
Where COW/USDT trades: Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $13.0M 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 $8.9M over 24 hours, 68.7% of the $13.0M total we measure across all 5 of them.
Where COW/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
COWUSDT
|
$8.9M | 68.7% |
| Bybit | Perpetual |
COWUSDT
|
$2.7M | 21.1% |
| Binance | Spot |
COWUSDT
|
$1.1M | 8.4% |
| KuCoin | Perpetual |
COWUSDTM
|
$199.4K | 1.5% |
| KuCoin | Spot |
COW-USDT
|
$38.9K | 0.3% |
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, Bybit and KuCoin.
Spot: Binance and KuCoin.
Where the liquidity sits
The top 3 venues hold 98.2% of measured COW/USDT turnover: Binance perpetuals ($8.9M, 68.7%), Bybit perpetuals ($2.7M, 21.1%) and Binance spot ($1.1M, 8.4%).
Perpetual futures account for 91.3% 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.