ETH/USDT
Where ETH/USDT trades: Binance, OKX, Bybit, KuCoin and Kraken, spot and perpetual futures, with per-venue 24h volume and share. $18.50B 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 $8.33B over 24 hours, 45.0% of the $18.50B total we measure across all 9 of them.
Where ETH/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $8.33B | 45.0% |
| OKX | $6.26B | 33.9% |
| Bybit | $2.38B | 12.9% |
| Binance | $620.5M | 3.4% |
| KuCoin | $334.1M | 1.8% |
| OKX | $252.9M | 1.4% |
| Bybit | $156.1M | 0.8% |
| KuCoin | $143.1M | 0.8% |
| Kraken | $11.4M | <0.1% |
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.
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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 91.8% of measured ETH/USDT turnover: Binance perpetuals ($8.33B, 45.0%), OKX perpetuals ($6.26B, 33.9%) and Bybit perpetuals ($2.38B, 12.9%).
Perpetual futures account for 93.6% 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.