Derivatives trading activity on Binance is rising sharply, according to a recent report from CryptoQuant. Analyst Maartunn noted that the Futures/Spot ratio on Binance has climbed to around 5.1, the highest level since mid-2023.
This indicator reflects the difference between futures trading volume and spot market activity. Current data shows that futures trading volume on Binance is now more than five times larger than spot volume, suggesting that investors are increasingly shifting toward derivatives products.
In 2025, Binance recorded a total trading volume of approximately $32.39 trillion. Of this, about $25.4 trillion came from derivatives trading, while $6.99 trillion came from the spot market.
Compared with the previous year, futures trading volume increased by around 19.7%, rising from $21.21 trillion in 2024 to $25.4 trillion in 2025. Meanwhile, spot trading volume remained largely unchanged at around $6.99 trillion.
According to CryptoQuant, when derivatives markets dominate spot markets, crypto prices tend to move faster and with greater volatility. This is largely due to the high leverage commonly used in futures trading, which can amplify liquidation pressure and market fluctuations.