Volume Monitor
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BTC CVD: spot vs perp net buying

BTC cumulative volume delta (CVD): taker buys minus taker sells, in US dollars. The table shows BTC's net taker flow over the last 1, 4 and 24 hours on each exchange, spot and perpetual futures apart, and the chart shows spot and perp CVD over time.

Over the last 4 hours, BTC spot was net sold (-$17.3M) and perps were net sold (-$159.2M): takers are selling on both markets. Over 1h the read is buying on both, while 24h agrees. The largest 24h net flow came from Binance perp (-$176.4M). BTC ranks #1 of 100 on the CVD screener by 24h volume ($6.19B across spot and perps).

#1 of 100 by 24h volumeTaker split from Binance, Bybit, HyperliquidWindows: 1h, 4h, 24hAs of 23:53 UTC

Verdict 1h
Buying on both
Over the last 1 hour, BTC spot was net bought (+$7.9M) and perps were net bought (+$60.0M): takers are buying on both markets.
Verdict 4h
Selling on both
Over the last 4 hours, BTC spot was net sold (-$17.3M) and perps were net sold (-$159.2M): takers are selling on both markets.
Verdict 24h
Selling on both
Over the last 24 hours, BTC spot was net sold (-$38.7M) and perps were net sold (-$256.0M): takers are selling on both markets.

BTC net taker flow by exchange · spot vs perp

taker buys minus taker sells, USD
Exchange Market Net 1h Net 4h Net 24h Buy % 24h Vol 24h
Binance Spot +$7.35M -$17.26M -$30.49M 46.6% $445.16M
Bybit Spot +$545K -$22K -$8.22M 48.0% $209.68M
Binance Perp +$9.10M -$70.53M -$176.43M 47.7% $3.79B
Bybit Perp +$4.51M -$49.38M -$48.45M 47.8% $1.10B
Hyperliquid Perp +$46.43M -$39.30M -$31.12M 47.6% $640.35M
All exchanges Spot +$7.89M -$17.29M -$38.71M 47.0% $654.84M
All exchanges Perp +$60.04M -$159.21M -$256.01M 47.7% $5.53B

BTC CVD and taker flow

Spot vs perp, from range start · bars: net taker buys

Chart: TradingView Lightweight Charts™

How to read it. Net taker flow is taker buys minus taker sells in US dollars: the change in BTC's CVD over the window. A side counts as buying or selling when its net flow is at least 2% of its volume and $10K; Spot buying, perps selling and Perps buying, spot selling are the divergences. Price, funding and open interest are on the BTC page. Refreshed every minute. Not financial advice.

Taker split from Binance, Bybit, Hyperliquid (1-minute bars recorded from their public feeds). Stablecoins and HIP-3 stock perps are left out.

Bybit caveat. Bybit's taker split is rebuilt from its public trade stream. A Bybit minute without a split (the first minute after a reconnect, or one the stream missed) counts as neutral in the 5-minute and hourly rollups these figures and the chart's longer ranges use; minutes recorded before that fix count as selling, so Bybit's older CVD can lean slightly negative.

BTC CVD FAQ

What does {} CVD show?

Cumulative volume delta adds up taker buys minus taker sells. The figures here are the change in BTC CVD over the last 1, 4 and 24 hours (the net taker flow) on each exchange, split into spot and perpetual futures. The chart shows spot and perp CVD from the start of the chosen range, with net taker flow as bars below.

How is the verdict decided?

Each side (spot or perps) counts as buying or selling when its net flow over the window is at least 2% of the volume that carries a taker split and at least $10K; smaller imbalances count as balanced. The verdict is the 4-hour read, the same rule as the CVD screener. It describes what takers did, not what price will do next. Not financial advice.