USDT Premium Index
When capital pushes into crypto, buyers pay above fair value for Tether; when it flees, USDT trades at a discount. This index tracks that premium against the official exchange rate in real time.
1.0000
Official FX Rate
reference mid-market rate
+0.10%
C2C Premium
peer-to-peer, binance_p2p
Premium History — 30 Days
USDT premium vs official rate, % · secondary line: C2C market
Premium History — 7 Days
Higher-resolution view of the past week
How to Read the USDT Premium
Positive premium
Buyers pay above fair value to move money into stablecoins — historically a sign of fresh capital entering crypto and risk appetite building.
Negative premium
USDT sold below the official rate signals cash-out pressure: holders accept a haircut to exit into fiat. Persistent discounts accompany risk-off phases.
Use with
Combine with funding rates and the Fear & Greed index — premium measures fiat-side flow, funding measures leverage-side positioning.
Methodology & Sources
- Sources
- Aggregated OTC and peer-to-peer (C2C) stablecoin market quotes, plus official mid-market foreign-exchange reference rates.
- Coverage
- USDT versus the local fiat currency, with a secondary peer-to-peer market series where available.
- Formulas
- Premium % = (USDT market rate − official mid-market FX rate) ÷ official rate × 100. A positive value means buyers pay above fair value for Tether; a negative value means USDT trades at a discount.
- Update frequency
- Refreshes roughly every five minutes; history charts cover 7-day and 30-day windows.
- Units & timezone
- USDT and FX rates are quoted in the local fiat currency; the premium is a percentage. Timestamps use UTC.
- Anomaly handling
- Exchanges that stop reporting are dropped from aggregates rather than carried forward; obvious outliers (bad ticks, decimal errors) are filtered before aggregation.