What does perpetual futures volume by exchange measure?
It measures the notional value of perpetual futures contracts traded on each venue during the selected period, usually the latest rolling 24 hours.
Volume by Exchange
Trading volume breakdown for all exchanges
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Rank | Exchange | Volume (24h) ↓ | Market Share | Symbols | Top Symbol | Volume (24h%) | Last 7d Volume | Trade |
|---|
| #1 |  Binance | $58.87B | 33.36% | 768 | BTC | +51.13% | ||
| #2 |  OKX | $24.16B | 13.69% | 458 | ETH | +40.19% | ||
| #3 |  Gate.io | $14.84B | 8.41% | 950 | ETH | +42.89% | ||
| #4 |  Bybit | $14.65B | 8.30% | 878 | BTC | +36.39% | ||
| #5 |  MEXC | $13.92B | 7.89% | 1137 | BTC | +53.29% | ||
| #6 |  Coinbase International | $9.28B | 5.26% | 140 | BTC | +65.02% | ||
| #7 |  Bitget | $8.63B | 4.89% | 826 | BTC | +19.10% | ||
| #8 |  Hyperliquid | $6.74B | 3.82% | 177 | BTC | +33.07% | ||
| #9 |  BingX | $5.74B | 3.25% | 785 | BTC | +28.11% | ||
| #10 | ![Trade[XYZ]](/hip3/tradexyz.jpg){kind=small} Trade[XYZ] | $2.71B | 1.53% | 103 | SKHX | +157.11% | ||
| #11 |  KuCoin | $2.20B | 1.25% | 674 | ETH | +31.89% | ||
| #12 |  Aster | $2.08B | 1.18% | 567 | BTC | +35.81% | ||
| #13 |  Lighter | $1.72B | 0.97% | 205 | BTC | +27.88% | ||
| #14 |  Phemex | $1.61B | 0.91% | 115 | BTC | +57.08% | ||
| #15 |  HTX | $1.43B | 0.81% | 301 | ETH | +24.87% | ||
| #16 |  EdgeX | $1.23B | 0.70% | 159 | BTC | +33.17% | ||
| #17 |  Variational | $1.07B | 0.60% | 518 | BTC | +23.95% | ||
| #18 |  Kalshi | $941.97M | 0.53% | 18 | ETH | +80.77% | ||
| #19 |  Pacifica | $910.82M | 0.52% | 75 | BTC | +114.86% | ||
| #20 |  Extended | $731.29M | 0.41% | 252 | ETH | +36.96% |
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FAQs
Perpetual futures volume by exchange questions
The rankings above compare 24-hour perpetual futures activity, market share, and each venue's most active symbols.
Does the exchange with the most volume have the best liquidity?
Not necessarily. High volume indicates activity, but executable liquidity depends on spread, book depth, order size, fees, and how consistently liquidity is available.
Why compare exchange volume with open interest?
The volume-to-open-interest relationship distinguishes rapid turnover from accumulated exposure. High volume with low open interest can reflect short holding periods, while high open interest shows more positions remain outstanding.
How is perpetual futures volume market share calculated?
A venue's tracked 24-hour volume is divided by aggregate volume across the supported exchanges. Because coverage and reporting can differ, market share should be interpreted within the displayed universe.
What does a sharp increase in exchange volume mean?
It shows trading activity accelerated, often around volatility, a listing, or a market event. It does not establish direction, so compare the move with price, open interest, funding, and liquidations.