USDC spreads and order-book depth

Gemini has the tightest measured spread on USDC right now, at <$0.01 per USDC (0.100 bps) on USDC/USD, sampled 1 hour ago. RampAtlas reads 13 venues' public order books for USDC every two hours and reports the spread, the resting depth within 1% of the mid, and what a market buy of $500, $5,000 or $50,000 would pay above the mid.

Verified How we verify

Where USDC trades tightest

ExchangePairSpread24h medianBid depth 1%Ask depth 1%$500 buy$5,000 buy$50,000 buySampled
GeminiUSDC/USD<$0.010.100 bps0.100 bps$395,587$515,9070.050 bps0.050 bps0.472 bps1 hour ago
MEXCUSDC/USDT<$0.010.100 bps0.100 bps$25.8M$43.0M0.050 bps0.050 bps0.050 bps1 hour ago
Bitstamp by RobinhoodUSDC/USD<$0.010.400 bps0.450 bps$471,764$428,3560.200 bps0.200 bps0.484 bps1 hour ago
Binance USUSDC/USD<$0.010.500 bps0.450 bps——0.250 bps0.402 bps1.57 bps1 hour ago
KrakenUSDC/USD<$0.011.00 bps1.00 bps$11.3M$13.9M0.500 bps0.500 bps0.500 bps1 hour ago
BitgetUSDC/USD<$0.011.00 bps1.00 bps$199,376$216,1170.500 bps0.500 bps1.52 bps1 hour ago
KuCoinUSDC/USDT<$0.011.00 bps1.00 bps$2.0M$10.7M0.500 bps0.500 bps0.500 bps1 hour ago
OKXUSDC/USDT<$0.011.00 bps1.00 bps$20.3M$22.6M0.500 bps0.500 bps0.500 bps1 hour ago
GateUSDC/USDT<$0.011.00 bps1.00 bps$27.9M$35.9M0.500 bps0.500 bps0.500 bps1 hour ago
BitvavoUSDC/EUR<$0.011.16 bps1.16 bps$366,083$356,5810.581 bps0.581 bps1.61 bps1 hour ago
Coinbase ExchangeUSDC/EUR<$0.011.16 bps1.16 bps$570,126$439,5220.581 bps0.581 bps0.581 bps1 hour ago
BinanceUSDC/USDnot measured——————1 hour ago
BybitUSDC/USDTnot measured——————1 hour ago

Spread is the latest reading, shown as what crossing it costs on one USDC and as a share of the mid in basis points; the median column is over the last 24 hours. Depth is the notional value of resting orders within 1% of the mid on each side, converted to US dollars. Slippage is what a market buy of that size would pay above the mid on the book we read, and is blank where the visible book could not fill it.

  • MEXC (USDC/USDT): Quoted in USDT, counted at one US dollar.
  • Binance US (USDC/USD): The 1% band runs past the last level the venue served, so depth is reported as not measured.
  • KuCoin (USDC/USDT): Quoted in USDT, counted at one US dollar.
  • OKX (USDC/USDT): Quoted in USDT, counted at one US dollar.
  • Gate (USDC/USDT): Quoted in USDT, counted at one US dollar.
  • Bitvavo (USDC/EUR): Quoted in EUR; USD figures use this book's own mid against the asset's snapshot US dollar price.
  • Coinbase Exchange (USDC/EUR): Quoted in EUR; USD figures use this book's own mid against the asset's snapshot US dollar price.
  • Binance: not measured on the last run — blocked: The venue refused the request (HTTP 451); it does not serve RampAtlas's servers.
  • Bybit: not measured on the last run — blocked: The venue refused the request (HTTP 403); it does not serve RampAtlas's servers.

Spread history

USDC spread over the last 7 daysOne panel per venue. Each point is a single order-book read; the vertical scale is that venue's own range, so panels show shape rather than comparing venues to one another. Compare levels in the table above.

  • Gemini

    USDC/USD · 0.100 bps–5.90 bps

    Sep 20.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.300 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 5.90 bpsSep 3: 0.100 bpsSep 3: 1.00 bpsSep 3: 2.70 bpsSep 3: 0.100 bpsSep 4: 0.900 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 1.30 bpsSep 4: 2.50 bpsSep 4: 0.100 bpsSep 4: 3.50 bpsSep 4: 0.800 bpsSep 5: 0.100 bpsSep 5: 0.100 bpsSep 5: 0.100 bpsSep 5: 0.100 bps

  • MEXC

    USDC/USDT · 0.100 bps–0.100 bps

    Sep 20.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 2: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 4: 0.100 bpsSep 5: 0.100 bpsSep 5: 0.100 bpsSep 5: 0.100 bpsSep 5: 0.100 bps

  • Bitstamp by Robinhood

    USDC/USD · 0.200 bps–1.40 bps

    Sep 20.400 bpsSep 2: 0.600 bpsSep 2: 0.600 bpsSep 2: 0.600 bpsSep 2: 0.600 bpsSep 3: 0.500 bpsSep 3: 0.300 bpsSep 3: 0.600 bpsSep 3: 0.600 bpsSep 3: 0.600 bpsSep 3: 0.600 bpsSep 3: 0.500 bpsSep 3: 1.40 bpsSep 3: 0.700 bpsSep 3: 0.200 bpsSep 3: 0.300 bpsSep 3: 0.500 bpsSep 4: 0.300 bpsSep 4: 0.200 bpsSep 4: 0.200 bpsSep 4: 0.300 bpsSep 4: 0.600 bpsSep 4: 0.200 bpsSep 4: 0.400 bpsSep 4: 0.400 bpsSep 4: 0.400 bpsSep 4: 0.500 bpsSep 4: 0.300 bpsSep 4: 1.10 bpsSep 5: 0.500 bpsSep 5: 0.500 bpsSep 5: 0.800 bpsSep 5: 0.400 bps

  • Binance US

    USDC/USD · 0.100 bps–1.00 bps

    Sep 20.500 bpsSep 2: 0.200 bpsSep 2: 0.200 bpsSep 2: 0.500 bpsSep 2: 0.300 bpsSep 3: 1.00 bpsSep 3: 0.900 bpsSep 3: 0.100 bpsSep 3: 0.800 bpsSep 3: 0.100 bpsSep 3: 0.100 bpsSep 3: 0.200 bpsSep 3: 0.100 bpsSep 3: 0.300 bpsSep 3: 0.200 bpsSep 3: 0.400 bpsSep 3: 0.200 bpsSep 4: 0.200 bpsSep 4: 0.500 bpsSep 4: 0.300 bpsSep 4: 0.400 bpsSep 4: 0.100 bpsSep 4: 0.400 bpsSep 4: 0.100 bpsSep 4: 0.200 bpsSep 4: 0.600 bpsSep 4: 1.00 bpsSep 4: 0.300 bpsSep 4: 0.300 bpsSep 5: 0.800 bpsSep 5: 0.600 bpsSep 5: 0.600 bpsSep 5: 0.500 bps

  • Kraken

    USDC/USD · 1.00 bps–1.00 bps

    Sep 21.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bps

  • Bitget

    USDC/USD · 1.00 bps–3.00 bps

    Sep 21.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 3: 2.00 bpsSep 3: 1.00 bpsSep 3: 2.00 bpsSep 3: 2.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 2.00 bpsSep 3: 2.00 bpsSep 3: 3.00 bpsSep 4: 1.00 bpsSep 4: 2.00 bpsSep 4: 2.00 bpsSep 4: 2.00 bpsSep 4: 2.00 bpsSep 4: 2.00 bpsSep 4: 2.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bps

  • KuCoin

    USDC/USDT · 1.000 bps–1.00 bps

    Sep 21.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bps

  • OKX

    USDC/USDT · 1.000 bps–1.00 bps

    Sep 21.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bps

  • Gate

    USDC/USDT · 1.000 bps–1.00 bps

    Sep 21.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.00 bpsSep 2: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.000 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 3: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 4: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bpsSep 5: 1.00 bps

  • Bitvavo

    USDC/EUR · 1.16 bps–2.33 bps

    Sep 21.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 2.32 bpsSep 3: 1.16 bpsSep 3: 2.32 bpsSep 3: 2.32 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 2.33 bpsSep 4: 1.16 bpsSep 4: 2.33 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 2.32 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bps

  • Coinbase Exchange

    USDC/EUR · 1.16 bps–2.33 bps

    Sep 21.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 2: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 3: 1.16 bpsSep 4: 2.33 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 4: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bpsSep 5: 1.16 bps

Method

Pairs are fixed per venue so each series measures the same book over time: the quote currency is chosen once, preferring US dollars, then dollar stablecoins, then euros or the venue's home currency. A non-dollar book's depth is converted using that book's own mid against USDC's snapshot US dollar price.

Frequently Asked Questions

Which exchange has the tightest USDC spread?
Gemini, at <$0.01 per USDC (0.100 bps) on USDC/USD as of the sample taken 1 hour ago. Spreads move, so this page is re-measured every two hours.
Does a tighter spread mean USDC is cheaper to buy there?
Only in part. The spread is one of three costs: the trading fee, the spread you cross, and the deposit or card fee that got your money onto the venue. The fee pages put all three together for a given purchase size, and use the measured spread on this page wherever we have one.
What does 1% depth tell me?
It is the dollar value of orders resting within 1% of the mid price on one side of the book. A venue with a tight spread but shallow depth will still move against a large order — which is why the table also shows what $500, $5,000 and $50,000 market buys would pay.

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