S/USDT
Where S/USDT trades: Binance, KuCoin, Bybit, OKX and Kraken, spot and perpetual futures, with per-venue 24h volume and share. $7.8M in 24h volume.
S/USDT trades on 5 exchanges across 9 listings — 4 perpetual futures markets and 5 spot books.
Binance runs the deepest of them at $3.4M over 24 hours, 43.1% of the $7.8M total we measure across all 9 of them.
Where S/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $3.4M | 43.1% |
| KuCoin | $1.3M | 16.8% |
| Bybit | $1.0M | 12.9% |
| Binance | $961,557 | 12.4% |
| OKX | $537,847 | 6.9% |
| KuCoin | $281,096 | 3.6% |
| Bybit | $255,637 | 3.3% |
| OKX | $72,794 | 0.9% |
| Kraken | $351 | <0.1% |
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.
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Spot or perpetual
Perpetual futures: Binance, KuCoin, Bybit and OKX.
Spot: Binance, KuCoin, Bybit, OKX and Kraken.
Where the liquidity sits
The top 3 venues hold 72.9% of measured S/USDT turnover: Binance perpetuals ($3.4M, 43.1%), KuCoin perpetuals ($1.3M, 16.8%) and Bybit perpetuals ($1.0M, 12.9%).
Perpetual futures account for 79.8% 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.