USDE/USDT
Where USDE/USDT trades: Bybit, Binance, Kraken and KuCoin, spot and perpetual futures, with per-venue 24h volume and share. $18.8M in 24h volume.
USDE/USDT trades on 4 exchanges across 5 listings — 1 perpetual futures market and 4 spot books.
Bybit runs the deepest of them at $11.0M over 24 hours, 58.5% of the $18.8M total we measure across all 5 of them.
Where USDE/USDT trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Bybit | Spot |
USDEUSDT
|
$11.0M | 58.5% |
| Binance | Spot |
USDEUSDT
|
$7.7M | 41.2% |
| Kraken | Spot |
USDEUSDT
|
$33.0K | 0.2% |
| Bybit | Perpetual |
USDEUSDT
|
$20.8K | 0.1% |
| KuCoin | Spot |
USDE-USDT
|
$10.8K | <0.1% |
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: Bybit.
Spot: Bybit, Binance, Kraken and KuCoin.
Where the liquidity sits
The top 3 venues hold 99.8% of measured USDE/USDT turnover: Bybit spot ($11.0M, 58.5%), Binance spot ($7.7M, 41.2%) and Kraken spot ($33.0K, 0.2%).
Perpetual futures account for 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. 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.