EWZ$34.33−19.82%NU$12.81−16.95%PBR$22.66−13.99%TRON$1.23−13.24%FICO$699.50−13.15%VICR$196.57+10.64%TSLL$10.94+10.25%SOXS$47.65−8.54%MSTU$31.25−8.49%SOXL$91.46+8.31%

EWZ$34.33−19.82%NU$12.81−16.95%PBR$22.66−13.99%TRON$1.23−13.24%FICO$699.50−13.15%VICR$196.57+10.64%TSLL$10.94+10.25%SOXS$47.65−8.54%MSTU$31.25−8.49%SOXL$91.46+8.31%

Assets coveredPairsSpot volumeSpot assetsDerivatives volumeDerivative assetsOpen interestOI ÷ derivatives volume

Venue↕	Assets covered↕	Pairs↕	Spot volume↕	Spot assets↕	Derivatives volume↕	Derivative assets↕	Open interest↕	OI ÷ derivatives volume↕	Share of volume↓
1Binance	166	244	$268.3m	96	$9.97b	134	$3.74b	0.38×	33%
2MGBX	74	82	$10.4m	12	$2.18b	69	$8.8m	0.004×	7.0%
3OKX	141	251	$58.3m	60	$2.02b	123	$800.9m	0.40×	6.6%
4MEXC	138	234	$28.3m	110	$1.63b	96	$676.1m	0.42×	5.3%
5Hyperliquid	60	85	$368k	15	$1.33b	56	$963.3m	0.73×	4.2%
6Gate	168	227	$17.3m	51	$1.15b	148	$1.47b	1.27×	3.7%
7Bitget	172	225	$49.5m	72	$1.09b	150	$244.2m	0.22×	3.6%
8BingX	149	185	$9.5m	31	$1.11b	141	$126.9m	0.11×	3.6%
9Ourbit	160	239	$50.6m	106	$759.7m	110	$39.7m	0.052×	2.6%
10Hotcoin	171	221	$69.8m	75	$717.1m	143	$228.7m	0.32×	2.5%
11Hibt	58	65	$6.4m	55	$712.9m	7	$48.8m	0.068×	2.3%
12Bybit	138	151	$9.1m	12	$635.6m	136	$328.2m	0.52×	2.1%
13Aster	67	90	$18.1m	5	$604.3m	67	$218.5m	0.36×	2.0%
14idax exchange	50	68	$20.1m	19	$560.3m	45	$36.0m	0.064×	1.9%
15DigiFinex	33	67	$43.6m	24	$370.4m	24	$106.5m	0.29×	1.3%
16Bitunix	129	133	$905k	1	$390.6m	129	$44.0m	0.11×	1.2%
17BitradeX	4	6	$2.1m	1	$354.6m	4	$94.9m	0.27×	1.1%
18Bitbaby	26	29	$526k	1	$344.3m	26	$51.1m	0.15×	1.1%
19YUBIT	153	216	$56.9m	89	$272.5m	115	$47.4m	0.17×	1.1%
20MSX	2	2	—	—	$321.4m	2	—	—	1.0%
21Bitbase	137	166	$15.2m	40	$299.8m	123	$176.3m	0.59×	1.0%
22Arcus	92	109	$3.3m	81	$274.7m	27	$79.4m	0.29×	0.9%
23BitTap	24	33	$5.1m	7	$251.9m	24	$2.2m	0.009×	0.8%
24Lighter	40	42	$160k	1	$228.7m	40	$94.5m	0.41×	0.7%
25Zoomex	128	131	$1.1m	1	$209.1m	128	$34.7m	0.17×	0.7%
26Antarctic	10	10	—	—	$192.2m	10	$5.8m	0.030×	0.6%
27CZR Exchange	4	5	—	—	$181.3m	4	$16.9m	0.093×	0.6%
28Ondo Perps	33	33	—	—	$173.7m	33	$60.3m	0.35×	0.6%
29Koinbay	15	18	$10.8m	14	$162.2m	2	—	—	0.6%
30x.me Exchange	24	28	$907k	1	$158.5m	24	$86.5m	0.55×	0.5%
31KuCoin	93	104	$5.2m	7	$142.5m	93	$152.7m	1.07×	0.5%
32AlphaX	152	154	—	—	$131.7m	152	$11.8m	0.090×	0.4%
33AstralX	2	2	—	—	$125.1m	2	$62.6m	0.50×	0.4%
34Extended	31	33	—	—	$94.6m	31	$10.3m	0.11×	0.3%
35Variational	84	86	—	—	$92.2m	84	$184.3m	2.00×	0.3%
36Aero Slipstream (Base)	41	48	$87.9m	41	—	—	—	—	0.3%
37Buzzex	1	1	$85.0m	1	—	—	—	—	0.3%
38BYDFi	34	46	$6.3m	22	$68.1m	22	$2.5m	0.037×	0.2%
39Phemex	52	67	$3.9m	20	$69.0m	45	$58.3m	0.85×	0.2%
40EVEDEX	11	11	—	—	$65.5m	11	$52.8m	0.81×	0.2%
41TRAIEX	44	45	$195k	1	$60.9m	43	$40.6m	0.67×	0.2%
42EdgeX	55	55	—	—	$58.4m	55	$22.2m	0.38×	0.2%
43IBIT Global	1	3	$4.5m	1	$38.3m	1	$534k	0.014×	0.1%
44PancakeSwap v3 (BSC)	54	113	$40.4m	54	—	—	—	—	0.1%
45TruBit Pro Exchange	4	5	$699k	1	$39.0m	4	$9.9m	0.25×	0.1%
46Bitcastle	2	2	$25k	1	$39.6m	1	—	—	0.1%
47Uniswap v4 (Robinhood)	87	430	$37.6m	87	—	—	—	—	0.1%
48HTX	142	145	$1.6m	1	$33.1m	142	$8.1m	0.25×	0.1%
49CoinUp.io	31	33	$33.6m	31	—	—	—	—	0.1%
50BloFin	75	88	$6.2m	13	$26.2m	73	$79.0m	3.01×	0.1%
51LeveX	29	32	$41k	1	$32.3m	29	$4.4m	0.14×	0.1%
52Uniswap V3 (Robinhood)	56	156	$32.3m	56	—	—	—	—	0.1%
53Raydium (CLMM)	49	146	$31.1m	49	—	—	—	—	0.10%
54BitDelta	1	3	$29.4m	1	—	—	—	—	0.09%
55Kraken	85	113	$11.1m	81	$15.1m	25	$12.8m	0.85×	0.08%
56Deribit	25	25	—	—	$25.9m	25	$84k	0.003×	0.08%
57Tebbit	132	133	—	—	$25.0m	132	$27.7m	1.11×	0.08%
58UZX	5	5	$23.5m	5	—	—	—	—	0.07%
59WOO X Pro	3	5	—	—	$21.5m	3	$76.5m	3.56×	0.07%
60Grvt	59	61	—	—	$20.8m	59	$6.9m	0.33×	0.07%

Principia Labs

There is no whitelist of venues. Volume is what each exchange reports about itself. Open interest is the positions still open on its perpetuals, one side of the book. Volume can be inflated at no cost; open interest takes capital left in place, so a venue that reports heavy trading against almost no open interest deserves a second look.