M/USDT
Where M/USDT trades: Binance, Bybit and KuCoin, perpetual futures, with per-venue 24h volume and share. $6.3M in 24h volume.
M/USDT trades on 3 exchanges across 3 listings — 3 perpetual futures markets.
Binance runs the deepest of them at $3.0M over 24 hours, 47.1% of the $6.3M total we measure across all 3 of them.
Where M/USDT trades
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.
No venue we track lists M/USDT on spot; it exists only as a derivative, so there is no book to take delivery on.
Where the liquidity sits
The top 3 venues hold 100.0% of measured M/USDT turnover: Binance perpetuals ($3.0M, 47.1%), Bybit perpetuals ($1.8M, 29.1%) and KuCoin perpetuals ($1.5M, 23.9%).
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.