The ratio of spot trading volume to futures trading volume. This metric helps identify whether market activity is dominated by spot or derivatives trading.

Values above 1 indicate spot volume exceeds futures volume, while values below 1 indicate futures-dominated trading. This metric can be viewed per exchange or aggregated across all exchanges (default).

This is the Point-in-Time (PiT) variant of Spot / Futures Volume. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.