TL;DR:
The monthly crypto exchange liquidity report published by TokenInsight in March 2026 positioned KuCoin among the three best exchanges in the world in order book depth for the BTC/spot pair. The report analyzed seven top-tier centralized exchanges under three main metrics: order book depth, slippage, and bid-ask spreads.
In the category of cumulative depth at 0.03% for BTC —a critical indicator for high-frequency traders and retail execution efficiency—, KuCoin recorded $0.9 million, placing third globally and surpassing several platforms considered benchmarks in the sector.
The most relevant finding in the report concerns the platform’s behavior during stress tests applied to the ETH/spot pair. When sell order sizes doubled from $500,000 to $1,000,000, its slippage increased moderately: it moved from 0.160% to just 0.177%. Other platforms in the same analysis group experienced severe deterioration, with some exceeding 2.1% slippage under the same conditions. This stability positions the exchange as a solid option for high-volume institutional operations in Ethereum.
In the derivatives market, the results follow the same trend. For BTC futures with $5 million sell orders, the exchange recorded a slippage of 0.059%, within the consolidated range of the highest-tier exchanges. In ETH futures, the platform held a 0.051% slippage for $1 million orders, remaining in the leading group under greater notional pressure.
BC Wong, CEO of KuCoin, commented on the results: “Liquidity is a fundamental pillar of trust in digital asset markets. KuCoin is committed to building a platform where users can execute trades with confidence, backed by resilient liquidity, stable pricing, and continuous investment in infrastructure.”
TokenInsight also points to a structural trend toward the concentration of liquidity in the most prominent exchanges, a process in which KuCoin has been building a key role within the top-tier ecosystem.
