US/USDT
Where US/USDT trades: Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $4.4M in 24h volume.
US/USDT trades on 3 exchanges across 4 listings — 3 perpetual futures markets and 1 spot book.
Binance runs the deepest of them at $2.9M over 24 hours, 65.7% of the $4.4M total we measure across all 4 of them.
Where US/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $2.9M | 65.7% |
| Bybit | $869,323 | 19.9% |
| KuCoin | $330,629 | 7.6% |
| KuCoin | $296,795 | 6.8% |
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.
Spot: KuCoin.
Where the liquidity sits
The top 3 venues hold 93.2% of measured US/USDT turnover: Binance perpetuals ($2.9M, 65.7%), Bybit perpetuals ($869,323, 19.9%) and KuCoin perpetuals ($330,629, 7.6%).
Perpetual futures account for 93.2% 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.