Tether (USDT) — price, funding and open interest
USDT/USDT perpetual on Kraken · Upbit · Coinbase: price 0.9990, 24h turnover $87.2M. 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
USDT unlocks
Our sources have no unlock schedule for this coin. 97.1 % of the issued supply is in circulation per CoinGecko; the rest may be locked or not yet issued.
Net issuance will appear once our supply ledger covers 30 days.
Supply figures are from CoinGecko, updated once a day. We do not take unlock schedules from trackers.
What the data shows
USDT trades at 0.9990. Over 365 days it ranged between 0.9699 and 1.0200; the price now sits in the middle of that range — 58% of the way from the yearly low to the high.
All-time high is 1.0281 (October 2025); the price is 3% below it now.
The daily range is 0.0% and five-minute NATR is 0.00%. That range is at percentile 19 for the year — a noticeably calmer day than usual.
Over the day -0.01%, over the hour 0.00%, over the last five minutes 0.00% — the move has only just started.
24-hour turnover is $87.2M — percentile 27 for the year: a normal level of activity for it.
USDT correlation with Bitcoin over 24 hours is -0.23 — it goes its own way, barely looking at Bitcoin.
Traded on 3 venues: Kraken, Upbit, Coinbase — the price is cross-checked across several sources.
By turnover it ranks 61 of 2044 instruments in the screener.
By daily range it ranks 1999 of 2044.
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 — 26 full months. 12 of 26 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
KairoRight now USDT is within its usual range: volume, funding and open interest are all unremarkable.
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.