- TokenInsight’s September 2026 Crypto Exchange Liquidity Report ranks MEXC first among nine surveyed exchanges for combined BTC and ETH futures order book depth within the 0.03% band, at $21.03 million.
- MEXC posted the lowest median slippage for a $300,000 silver (XAG) futures sell order at 0.002%, and led all surveyed venues in XAG-specific order book depth.
- Combined BTC and ETH spot depth reached roughly $1.35 million at the 0.01% band, tied for deepest, and $3.58 million at the 0.03% band, ranking second.
- A $500,000 BTC spot sell order executed at 0.005% median slippage, the lowest in the report.
- ETH futures median/P90 slippage came in at 0.003%/0.007% for a $500,000 sell order and 0.008%/0.013% for a $1 million sell order.
Near-Touch Depth as the Defining Metric
The headline figure is MEXC’s $21.03 million in combined BTC and ETH futures depth within the 0.03% price band — the deepest reading among the nine exchanges surveyed. That band matters because it measures liquidity that is genuinely executable close to the mid-market price, rather than resting orders parked far from the touch. Depth at wider bands can flatter an exchange’s headline numbers while offering little practical benefit to a trader trying to fill size without moving the market. TokenInsight’s framing suggests MEXC’s advantage is concentrated precisely where execution risk is highest.
ETH futures results reinforce the pattern across order sizes. For a $500,000 sell order, MEXC recorded median slippage of 0.003% and P90 slippage of 0.007%. Scaling to a $1 million sell order, median slippage rose only to 0.008%, with P90 at 0.013%. The relatively contained gap between median and P90 outcomes indicates that execution quality holds up even in less favorable conditions — a distinction that matters more to institutional and high-frequency participants than a best-case average.
Spot Depth and Precious Metals Execution
On the spot side, MEXC’s combined BTC and ETH order book depth reached approximately $1.35 million within the 0.01% band, tied with another exchange for the deepest spot liquidity in the report. At the wider 0.03% band, combined spot depth stood at $3.58 million, ranking second. For a $500,000 BTC spot sell order, MEXC posted the lowest median slippage in the report at 0.005%.
Silver Futures Stand Out
The most striking single result came in precious metals. MEXC recorded a median slippage of just 0.002% for a $300,000 XAG futures sell order — the lowest among all surveyed exchanges. The platform also logged combined XAU and XAG futures depth of $2.39 million within the 0.01% band and led the market in XAG-specific order book depth. With gold trading at $4,340.80, metals-linked derivatives have drawn sustained attention, and slippage of that magnitude on a six-figure order is notable for a venue best known for digital assets.
MEXC, founded in 2018, positions itself as a zero-fee, multi-asset platform serving users across more than 170 markets, offering crypto, equities, tokenized assets, and derivatives through a single account. The company said it will continue strengthening its liquidity infrastructure. TokenInsight’s methodology — comparing depth bands, slippage percentiles, and spreads across a fixed set of order sizes — provides a standardized basis for comparison, though results reflect conditions during the September 2026 measurement window and can shift with market volatility. Liquidity rankings are point-in-time observations, not guarantees of future execution quality.
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