ETH/USDT
Where ETH/USDT trades: Binance, OKX, Bybit, KuCoin and Kraken, spot and perpetual futures, with per-venue 24h volume and share. $25.95B in 24h volume.
ETH/USDT trades on 5 exchanges across 9 listings — 4 perpetual futures markets and 5 spot books.
Binance runs the deepest of them at $10.89B over 24 hours, 41.9% of the $25.95B total we measure across all 9 of them.
Where ETH/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
ETHUSDT
|
$10.89B | 41.9% |
| OKX | Perpetual |
ETH-USDT-SWAP
|
$9.35B | 36.0% |
| Bybit | Perpetual |
ETHUSDT
|
$3.68B | 14.2% |
| Binance | Spot |
ETHUSDT
|
$888.5M | 3.4% |
| KuCoin | Perpetual |
ETHUSDTM
|
$426.8M | 1.6% |
| OKX | Spot |
ETH-USDT
|
$348.0M | 1.3% |
| Bybit | Spot |
ETHUSDT
|
$217.6M | 0.8% |
| KuCoin | Spot |
ETH-USDT
|
$159.0M | 0.6% |
| Kraken | Spot |
ETHUSDT
|
$6.1M | <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 92.1% of measured ETH/USDT turnover: Binance perpetuals ($10.89B, 41.9%), OKX perpetuals ($9.35B, 36.0%) and Bybit perpetuals ($3.68B, 14.2%).
Perpetual futures account for 93.8% 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.