Tether (USDT) — price, funding and open interest
USDT/USDT perpetual on Kraken · Upbit · Coinbase: price 0.9998, 24h turnover $493.4M. Updated in real time.
What this is
StablecoinTether — the world's largest stablecoin: a token pegged to the dollar and backed by Tether's reserves. This page shows its USD rate on Kraken: deviation from $1.00 signals market stress.
Chart
Chart built from data of Kraken
What the data shows
USDT trades at 0.9998. Over 365 days it ranged between 0.9699 and 1.0281; the price now sits in the middle of that range — 51% of the way from the yearly low to the high.
Volume over the last five minutes is 12.2x the usual for this instrument.
24-hour turnover is $493.4M — the 99th percentile for the year: noticeably busier than usual.
By turnover it ranks 32 of 1925 instruments in the screener.
USDT correlation with Bitcoin over 24 hours is -0.03 — it goes its own way, barely looking at Bitcoin.
The daily range is 0.1% and five-minute NATR is 0.00%. That range is in the 53th percentile for the year — an ordinary day for it.
Traded on 3 venues: Kraken, Upbit, Coinbase — the price is cross-checked across several sources.
Over the day +0.01%, over the hour +0.01%, over the last five minutes 0.00% — the pace is steady.
By daily range it ranks 1907 of 1925.
NATR is 0.00% on the minute and 0.01% on the hour — the move is even, without sharp excursions inside the hour.
Built from current numbers and the coin's own year of history. Updates with the data.
How USDT behaved before
Tracked since August 2024 — 24 full months. 11 of 24 closed higher, median month -0.0%.
Best month — November 2024: +0.2%. Worst — December 2024: -0.3%.
Computed from our own minute history, month by month. The past promises nothing — but it shows what is ordinary for this instrument and what is not.
Our observations
Kairo- VolumeVolume spike ×12.2 against its own five-minute norm. USDT traded $493.4M over 24h.
Computed from our own minute history for this coin over a year. Percentile is the share of days the value was below today's. Description only, no forecasts.
What we noticed earlier
Similar instruments
From the same group — stablecoin. They open the same way, with a chart and a breakdown.
Price and movement
Turnover and activity
How to read this
- Funding is a payment between longs and shorts. A positive rate means longs pay shorts: the market is crowded long.
- The rate rank shows how unusual that rate is for this particular coin: 97 means above 97% of the last month, a rare skew. Without the rank the bare number says nothing — every coin has its own normal.
- Open interest is the money sitting in positions that are still open. Rising alongside price means new money entering; rising while price falls means shorts building up.
- The OI rank is measured in contracts rather than dollars: otherwise it would drift up with price alone and claim a record where nothing changed.
- NATR shows how much a coin moves relative to its own price. High NATR with high turnover is where today's action is.