USDC/USDT
Where USDC/USDT trades: Binance, OKX, Bybit, KuCoin and Kraken, spot and perpetual futures, with per-venue 24h volume and share. $3.32B in 24h volume.
USDC/USDT trades on 5 exchanges across 9 listings — 4 perpetual futures markets and 5 spot books.
Binance runs the deepest of them at $2.87B over 24 hours, 86.6% of the $3.32B total we measure across all 9 of them.
Where USDC/USDT trades
| Exchange | 24h volume | Share |
|---|---|---|
| Binance | $2.87B | 86.6% |
| OKX | $218.4M | 6.6% |
| Bybit | $175.2M | 5.3% |
| KuCoin | $33.1M | 1.0% |
| Kraken | $10.9M | 0.3% |
| OKX | $3.6M | 0.1% |
| Binance | $1.6M | <0.1% |
| Bybit | $394,274 | <0.1% |
| KuCoin | $11,087 | <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: OKX, Binance, Bybit and KuCoin.
Spot: Binance, OKX, Bybit, KuCoin and Kraken.
Where the liquidity sits
The top 3 venues hold 98.5% of measured USDC/USDT turnover: Binance spot ($2.87B, 86.6%), OKX spot ($218.4M, 6.6%) and Bybit spot ($175.2M, 5.3%).
Perpetual futures account for 0.2% 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.