MERL/USDT
Where MERL/USDT trades: Binance, OKX, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $3.6M in 24h volume.
MERL/USDT trades on 4 exchanges across 7 listings — 4 perpetual futures markets and 3 spot books.
Binance runs the deepest of them at $1.5M over 24 hours, 42.7% of the $3.6M total we measure across all 7 of them.
Where MERL/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $1.5M | 42.7% |
| OKX | $1.5M | 40.9% |
| OKX | $291,794 | 8.2% |
| Bybit | $175,043 | 4.9% |
| Bybit | $60,703 | 1.7% |
| KuCoin | $48,116 | 1.3% |
| KuCoin | $8,196 | 0.2% |
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, OKX, Bybit and KuCoin.
Spot: OKX, Bybit and KuCoin.
Where the liquidity sits
The top 3 venues hold 91.8% of measured MERL/USDT turnover: Binance perpetuals ($1.5M, 42.7%), OKX perpetuals ($1.5M, 40.9%) and OKX spot ($291,794, 8.2%).
Perpetual futures account for 89.9% 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. 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.