FORM/USDT
Where FORM/USDT trades: Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $1.6M in 24h volume.
FORM/USDT trades on 3 exchanges across 4 listings — 3 perpetual futures markets and 1 spot book.
Binance runs the deepest of them at $1.2M over 24 hours, 71.2% of the $1.6M total we measure across all 4 of them.
Where FORM/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
FORMUSDT
|
$1.2M | 71.2% |
| Binance | Spot |
FORMUSDT
|
$274.3K | 16.8% |
| Bybit | Perpetual |
FORMUSDT
|
$187.8K | 11.5% |
| KuCoin | Perpetual |
FORMUSDTM
|
$6.8K | 0.4% |
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.
Where the liquidity sits
The top 3 venues hold 99.6% of measured FORM/USDT turnover: Binance perpetuals ($1.2M, 71.2%), Binance spot ($274.3K, 16.8%) and Bybit perpetuals ($187.8K, 11.5%).
Perpetual futures account for 83.2% 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.