MERL/USDT
Where MERL/USDT trades: OKX, Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $2.1M in 24h volume.
MERL/USDT trades on 4 exchanges across 7 listings — 4 perpetual futures markets and 3 spot books.
OKX runs the deepest of them at $913.8K over 24 hours, 44.5% of the $2.1M total we measure across all 7 of them.
Where MERL/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| OKX | Perpetual |
MERL-USDT-SWAP
|
$913.8K | 44.5% |
| Binance | Perpetual |
MERLUSDT
|
$712.1K | 34.7% |
| Bybit | Perpetual |
MERLUSDT
|
$254.7K | 12.4% |
| OKX | Spot |
MERL-USDT
|
$109.4K | 5.3% |
| KuCoin | Perpetual |
MERLUSDTM
|
$26.2K | 1.3% |
| Bybit | Spot |
MERLUSDT
|
$23.0K | 1.1% |
| KuCoin | Spot |
MERL-USDT
|
$12.8K | 0.6% |
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: OKX, Binance, Bybit and KuCoin.
Spot: OKX, Bybit and KuCoin.
Where the liquidity sits
The top 3 venues hold 91.6% of measured MERL/USDT turnover: OKX perpetuals ($913.8K, 44.5%), Binance perpetuals ($712.1K, 34.7%) and Bybit perpetuals ($254.7K, 12.4%).
Perpetual futures account for 92.9% 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.