US/USDT
Where US/USDT trades: Binance, Bybit and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $8.4M 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 $6.3M over 24 hours, 74.9% of the $8.4M total we measure across all 4 of them.
Where US/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Binance | Perpetual |
USUSDT
|
$6.3M | 74.9% |
| Bybit | Perpetual |
USUSDT
|
$1.7M | 20.5% |
| KuCoin | Perpetual |
USUSDTM
|
$239.7K | 2.9% |
| KuCoin | Spot |
US-USDT
|
$140.0K | 1.7% |
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.
Spot: KuCoin.
Where the liquidity sits
The top 3 venues hold 98.3% of measured US/USDT turnover: Binance perpetuals ($6.3M, 74.9%), Bybit perpetuals ($1.7M, 20.5%) and KuCoin perpetuals ($239.7K, 2.9%).
Perpetual futures account for 98.3% 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.