Centralized exchanges (CEXs) are where most crypto still trades. This dashboard compares the major venues on spot volume, perpetual futures volume, and open interest. It shows where trading activity and leverage sit, and how market share shifts between exchanges.
Open interest is the total value of perpetual futures positions currently open on an exchange. Rising open interest means more leverage in the market, falling open interest means positions are closing.
Volume is the cleanest measure of where trading actually happens. Watching spot and perp volume side by side shows which venues are winning market share over time.
