M/USDT
Where M/USDT trades: Binance, Bybit and KuCoin, perpetual futures, with per-venue 24h volume and share. $16.4M in 24h volume.
M/USDT trades on 3 exchanges across 3 listings — 3 perpetual futures markets.
Binance runs the deepest of them at $10.5M over 24 hours, 63.7% of the $16.4M total we measure across all 3 of them.
Where M/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
MUSDT
|
$10.5M | 63.7% |
| Bybit | Perpetual |
MUSDT
|
$3.9M | 23.6% |
| KuCoin | Perpetual |
MUSDTM
|
$2.1M | 12.7% |
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.
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 ($10.5M, 63.7%), Bybit perpetuals ($3.9M, 23.6%) and KuCoin perpetuals ($2.1M, 12.7%).
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.