# Reported Volume

## Overview

The reported volume in U.S. dollars for various aggregations of spot markets, futures markets, and option markets. These metrics are available for assets, exchanges, exchange-assets, and pairs. These metrics are referred to as reported because the input data is reported trades from centralized and decentralized exchanges.

{% embed url="<https://youtu.be/9gwXs277FhQ?feature=shared>" %}
Exploring Option Volume Metrics
{% endembed %}

## Metrics

<table data-full-width="true"><thead><tr><th width="400.00006103515625">Metric</th><th>Description</th><th width="100">Frequency</th><th width="100">Coverage</th></tr></thead><tbody><tr><td><code>volume_reported_spot_usd_1d</code></td><td>The sum of all reported volume from spot markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_spot_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_spot_usd_1h</code></td><td>The sum of all reported volume from spot markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_spot_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_future_usd_1d</code></td><td>The sum of all reported volume from futures markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_future_usd_1h</code></td><td>The sum of all reported volume from futures markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_future_tether_margined_usd_1d</code></td><td>The sum of all reported volume from futures markets where the margin asset is Tether in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_tether_margined_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_future_tether_margined_usd_1h</code></td><td>The sum of all reported volume from futures markets where the margin asset is Tether in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_tether_margined_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_future_coin_margined_usd_1d</code></td><td>The sum of all reported volume from futures markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_coin_margined_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_future_coin_margined_usd_1h</code></td><td>The sum of all reported volume from futures markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_coin_margined_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_future_perpetual_usd_1d</code></td><td>The sum of all reported volume from perpetual futures markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_perpetual_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_future_perpetual_usd_1h</code></td><td>The sum of all reported volume from perpetual futures markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_perpetual_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_future_nonperpetual_usd_1d</code></td><td>The sum of all reported volume from non-perpetual futures markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_nonperpetual_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_future_nonperpetual_usd_1h</code></td><td>The sum of all reported volume from non-perpetual futures markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_future_nonperpetual_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_market_value_usd_1h</code></td><td>The sum of all reported market value volume from option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_market_value_usd_1d</code></td><td>The sum of all reported market value volume from option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_notional_usd_1h</code></td><td>The sum of all reported notional volume from option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_notional_usd_1d</code></td><td>The sum of all reported notional volume from option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_notional_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_tether_margined_market_value_usd_1h</code></td><td>The sum of all reported market value volume from option markets where the margin asset is Tether in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_tether_margined_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_tether_margined_market_value_usd_1d</code></td><td>The sum of all reported market value volume from option markets where the margin asset is Tether in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_tether_margined_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_tether_margined_notional_usd_1h</code></td><td>The sum of all reported notional volume from option markets where the margin asset is Tether in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_tether_margined_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_tether_margined_notional_usd_1d</code></td><td>The sum of all reported notional volume from option markets where the margin asset is Tether in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_tether_margined_notional_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_usdc_margined_market_value_usd_1h</code></td><td>The sum of all reported market value volume from option markets where the margin asset is USDC in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_usdc_margined_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_usdc_margined_market_value_usd_1d</code></td><td>The sum of all reported market value volume from option markets where the margin asset is USDC in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_usdc_margined_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_usdc_margined_notional_usd_1h</code></td><td>The sum of all reported notional volume from option markets where the margin asset is USDC in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_usdc_margined_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_usdc_margined_notional_usd_1d</code></td><td>The sum of all reported notional volume from option markets where the margin asset is USDC in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_usdc_margined_notional_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_coin_margined_market_value_usd_1h</code></td><td>The sum of all reported market value volume from option markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_coin_margined_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_coin_margined_market_value_usd_1d</code></td><td>The sum of all reported market value volume from option markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_coin_margined_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_coin_margined_notional_usd_1h</code></td><td>The sum of all reported notional volume from option markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_coin_margined_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_coin_margined_notional_usd_1d</code></td><td>The sum of all reported notional volume from option markets where the margin asset is equivalent to the underlying base asset in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_coin_margined_notional_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_call_market_value_usd_1h</code></td><td>The sum of all reported market value volume from call option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_call_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_call_market_value_usd_1d</code></td><td>The sum of all reported market value volume from call option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_call_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_call_notional_usd_1h</code></td><td>The sum of all reported notional volume from call option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_call_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_call_notional_usd_1d</code></td><td>The sum of all reported notional volume from call option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_call_notional_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_put_market_value_usd_1h</code></td><td>The sum of all reported market value volume from put option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_put_market_value_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_put_market_value_usd_1d</code></td><td>The sum of all reported market value volume from put option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_put_market_value_usd_1d">🔗</a></td></tr><tr><td><code>volume_reported_option_put_notional_usd_1h</code></td><td>The sum of all reported notional volume from put option markets in units of U.S. dollars.</td><td>1h</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_put_notional_usd_1h">🔗</a></td></tr><tr><td><code>volume_reported_option_put_notional_usd_1d</code></td><td>The sum of all reported notional volume from put option markets in units of U.S. dollars.</td><td>1d</td><td><a href="https://coverage.coinmetrics.io/search-results?query=volume_reported_option_put_notional_usd_1d">🔗</a></td></tr></tbody></table>

## Data Sources and Methodology

The input data source for the reported volume metrics are trades collected from centralized and decentralized exchanges in Coin Metrics's coverage universe. The trade amounts are converted to U.S. dollars and summed over the interval defined in the metric name.

Let us define the following notation:

* $$i$$: index of an individual trade
* $$t\_i$$: timestamp of trade $$i$$
* $$Q\_i$$: quantity in contract-units of trade $$i$$
* $$\mathrm{Price}(t\_i)$$: price of trade $$i$$ at time $$t\_i$$ (in margin-asset units per contract)
* $$S$$: size of one futures or option contract (size-asset units per contract)
* $$\mathrm{ReferenceRate}\_{\mathrm{base}}(t\_i)$$: price of one unit of the base asset in U.S. dollars at time $$t\_i$$
* $$\mathrm{ReferenceRate}\_{\mathrm{size}}(t\_i)$$: price of one unit of the sizeasset at time $$t\_i$$
* $$\mathrm{ReferenceRate}\_{\mathrm{margin}}(t\_i)$$: price of one unit of the margin asset at time $$t\_i$$
* $$\mathcal{I}\_{\mathrm{spot}}(T)$$: set of spot trades in period $$T$$
* $$\mathcal{I}\_{\mathrm{fut}}(T)$$: set of futures trades in period $$T$$
* $$\mathcal{I}\_{\mathrm{opt}}(T)$$: set of option trades in period $$T$$

The reported spot volume metrics `volume_reported_spot_*` are defined as:

$$
\mathrm{VolumeReportedSpot}(T)
;=;
\sum\_{i ,\in, \mathcal{I\_{spot}}(T)}
Q\_i
;\times;
\mathrm{ReferenceRate\_{base}}(t\_i)
$$

The reported futures volume metrics `volume_reported_future_*` are defined as:

$$
\mathrm{VolumeReportedFuture}(T)
;=;
\sum\_{i ,\in, \mathcal{I}*{\mathrm{fut}}(T)}
Q\_i
;\times;
S
;\times;
\mathrm{ReferenceRate}*{\mathrm{size}}(t\_i)
$$

The reported option market value volume metrics `volume_reported_option_*_market_value_*` are defined as:

$$
\mathrm{VolumeReportedOptionMarketValue}(T)
;=;
\sum\_{i ,\in, \mathcal{I}*{\mathrm{opt}}(T)}
Q\_i
;\times;
\mathrm{Price}(t\_i)
;\times;
S
;\times;
\mathrm{ReferenceRate}*{\mathrm{margin}}(t\_i)
$$

The reported option notional volume metrics `volume_reported_option_*_notional_*` are defined as:

$$
\mathrm{VolumeReportedOptionNotional}(T)
;=;
\sum\_{i ,\in, \mathcal{I}*{\mathrm{opt}}(T)}
Q\_i
;\times;
S
;\times;
\mathrm{ReferenceRate}*{\mathrm{size}}(t\_i)
$$

Coin Metrics calculates these metrics for various entities: assets, exchanges, exchange-assets, and pairs. For each entity, the markets used as input in the calculation differ. The entity defines a set of markets that are used in the calculation. The metric description further filters to a specific subset of markets as defined in the metric description.

* For **assets**, the markets included are any market where the asset is either the base asset or quote asset and match the markets in the metric description.
* For **exchanges**, the markets included are any market that is listed on the exchange and match the markets in the metric description.
* For **exchange-assets**, the markets included are any market that is listed on the exchange and the asset is either the base asset or quote asset and match the markets in the metric description.
* For **pairs**, the markets included are any market across all exchanges that contain the pair and match the markets in the metric description.

## Coverage

The coverage of all reported volume metrics for assets, exchanges, exchange-assets, and pairs can be found in Coin Metrics Coverage:

{% embed url="<https://coverage.coinmetrics.io/search-results?query=volume_reported_%2A>" %}

## API Endpoints

The metrics are served through the following endpoints:

* [/timeseries/asset-metrics](https://docs.coinmetrics.io/api/v4/#tag/Timeseries/operation/getTimeseriesAssetMetrics)
* [/timeseries/exchange-metrics](https://docs.coinmetrics.io/api/v4/#tag/Timeseries/operation/getTimeseriesExchangeMetrics)
* [/timeseries/exchange-asset-metrics](https://docs.coinmetrics.io/api/v4/#tag/Timeseries/operation/getTimeseriesExchangeAssetMetrics)
* [/timeseries/pair-metrics](https://docs.coinmetrics.io/api/v4/#tag/Timeseries/operation/getTimeseriesPairMetrics)

## Examples

#### Example for Asset Metrics

A sample of the `volume_reported_spot_usd_1d` metric for the asset `btc` from our `/timeseries/asset-metrics` API endpoint is provided below. You can view this example in your browser [here](https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc\&metrics=volume_reported_spot_usd_1d\&limit_per_asset=3\&api_key=YOUR_API_KEY).

```json
[
  {
    "asset": "btc",
    "time": "2025-04-29T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "10169490818.5503"
  },
  {
    "asset": "btc",
    "time": "2025-04-30T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "11035234047.2223"
  },
  {
    "asset": "btc",
    "time": "2025-05-01T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "12507794475.1484"
  }
]
```

#### Example for Exchange Metrics

A sample of the `volume_reported_spot_usd_1d` metric for the exchange `binance` from our `/timeseries/exchange-metrics` API endpoint is provided below. You can view this example in your browser [here](https://api.coinmetrics.io/v4/timeseries/exchange-metrics?exchanges=binance\&metrics=volume_reported_spot_usd_1d\&limit_per_exchange=3\&api_key=YOUR_API_KEY).

```json
[
  {
    "exchange": "binance",
    "time": "2025-04-29T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "13106422536.972"
  },
  {
    "exchange": "binance",
    "time": "2025-04-30T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "13399765203.4188"
  },
  {
    "exchange": "binance",
    "time": "2025-05-01T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "13600855539.9743"
  }
]
```

#### Example for Exchange Asset Metrics

A sample of the `volume_reported_spot_usd_1d` metric for the exchange\_asset `binance-btc` from our `/timeseries/exchange-asset-metrics` API endpoint is provided below. You can view this example in your browser [here](https://api.coinmetrics.io/v4/timeseries/exchange-asset-metrics?exchange_assets=binance-btc\&metrics=volume_reported_spot_usd_1d\&limit_per_exchange_asset=3\&api_key=YOUR_API_KEY).

```json
[
  {
    "exchange_asset": "binance-btc",
    "time": "2025-04-29T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "3504037413.55486"
  },
  {
    "exchange_asset": "binance-btc",
    "time": "2025-04-30T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "3482262478.89911"
  },
  {
    "exchange_asset": "binance-btc",
    "time": "2025-05-01T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "3914936550.87203"
  }
]
```

#### Example for Pair Metrics

A sample of the `volume_reported_spot_usd_1d` metric for the pair `btc-usd` from our `/timeseries/pair-metrics` API endpoint is provided below. You can view this example in your browser [here](https://api.coinmetrics.io/v4/timeseries/pair-metrics?pairs=btc-usd\&metrics=volume_reported_spot_usd_1d\&limit_per_pair=3\&api_key=YOUR_API_KEY).

```json
[
  {
    "pair": "btc-usd",
    "time": "2025-04-29T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "1655954348.08929"
  },
  {
    "pair": "btc-usd",
    "time": "2025-04-30T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "2077580321.52218"
  },
  {
    "pair": "btc-usd",
    "time": "2025-05-01T00:00:00.000000000Z",
    "volume_reported_spot_usd_1d": "2334344447.85976"
  }
]
```