Volume Monitor
Live crypto data · 8 exchanges

ZRO CVD: spot vs perp net buying

ZRO cumulative volume delta (CVD): taker buys minus taker sells, in US dollars. The table shows ZRO'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, ZRO spot was net sold (-$292K) and perps were roughly balanced (-$93K): only spot shows a clear imbalance, to the sell side. Over 1h the read is spot buying, perps selling, while 24h agrees. The largest 24h net flow came from Bybit perp (+$467K). ZRO ranks #47 of 100 on the CVD screener by 24h volume ($43.1M across spot and perps).

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

Verdict 1h
Spot buying, perps selling
Over the last 1 hour, ZRO spot was net bought (+$147K) and perps were net sold (-$94K): spot demand is carrying the move while perp traders sell into it.
Verdict 4h
Spot selling
Over the last 4 hours, ZRO spot was net sold (-$292K) and perps were roughly balanced (-$93K): only spot shows a clear imbalance, to the sell side.
Verdict 24h
Spot selling
Over the last 24 hours, ZRO spot was net sold (-$225K) and perps were roughly balanced (+$603K): only spot shows a clear imbalance, to the sell side.

ZRO 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 +$48K -$427K -$379K 46.4% $5.33M
Bybit Spot +$98K +$135K +$155K 55.3% $1.45M
Binance Perp -$73K -$419K -$10K 50.0% $19.39M
Bybit Perp +$71K +$275K +$467K 52.1% $11.09M
Hyperliquid Perp -$92K +$50K +$146K 51.3% $5.82M
All exchanges Spot +$147K -$292K -$225K 48.3% $6.79M
All exchanges Perp -$94K -$93K +$603K 50.8% $36.30M

ZRO 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 ZRO'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 ZRO 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.

ZRO CVD FAQ

What does {} CVD show?

Cumulative volume delta adds up taker buys minus taker sells. The figures here are the change in ZRO 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.