USD1/USDT
Where USD1/USDT trades: Binance, Bybit, KuCoin and OKX, spot and perpetual futures, with per-venue 24h volume and share. $164.7M in 24h volume.
USD1/USDT trades on 4 exchanges across 5 listings — 1 perpetual futures market and 4 spot books.
Binance runs the deepest of them at $160.2M over 24 hours, 97.3% of the $164.7M total we measure across all 5 of them.
Where USD1/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $160.2M | 97.3% |
| Bybit | $4.3M | 2.6% |
| KuCoin | $107,953 | <0.1% |
| Bybit | $106,371 | <0.1% |
| OKX | $6,105 | <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.
Spot or perpetual
Perpetual futures: Bybit.
Spot: Binance, Bybit, KuCoin and OKX.
Where the liquidity sits
The top 3 venues hold 99.9% of measured USD1/USDT turnover: Binance spot ($160.2M, 97.3%), Bybit spot ($4.3M, 2.6%) and KuCoin spot ($107,953, under 0.1%).
Perpetual futures account for under 0.1% 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.