◈   real vs reported volume · 30-day median

Where to trade MTL

Same coin, different tapes. We rank the venues that list MTL by how much of their reported volume is actually real — so you trade where the book isn't faked.

Soli's reading
Binance runs the cleanest MTL tape — 85% honest on $812k real volume. Trust the prints.
#1
Binance
Binance
spot + futures · 2 pairs
85% honest
$812kreal / $960k claimed
Trade on Binance →
#2
Bybit
Bybit
futures · 1 pairs
69% honest
$158kreal / $228k claimed
Trade on Bybit →
#3
Bitget
Bitget
futures · 1 pairs
50% honest
$3kreal / $6k claimed
Trade on Bitget →
◈ how we score it

Honesty = estimated real volume ÷ reported volume for MTL on each venue, from five trade-tape fingerprints (timing, Benford, self-trade pairing, price-impact, size entropy). Pick the venue with the deepest real book, not the loudest reported number. How to buy MTL → · how to sell MTL → · full venue ranking → · compare two venues →