USDT/USD
Where USDT/USD trades: Kraken, Binance, OKX and Bybit, spot, with per-venue 24h volume and share. $425.3M in 24h volume.
USDT/USD trades on 4 exchanges across 4 listings — 4 spot books.
Kraken runs the deepest of them at $278.9M over 24 hours, 65.6% of the $425.3M total we measure across all 4 of them.
Where USDT/USD trades
| Exchange | Type | Symbol | 24h volume | Share |
|---|---|---|---|---|
| Kraken | Spot |
USDTZUSD
|
$278.9M | 65.6% |
| Binance | Spot |
USDTUSD
|
$121.2M | 28.5% |
| OKX | Spot |
USDT-USD
|
$24.2M | 5.7% |
| Bybit | Spot |
USDTUSD
|
$990.2K | 0.2% |
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
No venue we track lists a USDT/USD perpetual — this pair is spot only.
Spot: Kraken, Binance, OKX and Bybit.
Where the liquidity sits
The top 3 venues hold 99.8% of measured USDT/USD turnover: Kraken spot ($278.9M, 65.6%), Binance spot ($121.2M, 28.5%) and OKX spot ($24.2M, 5.7%).
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.