Bitget's Tokenized Markets Show Improved Liquidity Conditions

Bitget's Universal Exchange (UEX) has been scrutinized for its tokenized equity and gold perpetual markets. Independent research firm Block Scholes analyzed liquidity conditions in these markets, comparing them to spot markets like BTC/USDT.

The study found that resting liquidity on the Nvidia-tracking contract reached three-quarters of the depth available on Bitget's own BTC/USDT spot market by mid-May 2026.

Block Scholes measured order-book depth, spreads, and slippage across four USDT-margined perpetual contracts: gold (XAU-USDT), SPDR S&P 500 ETF (SPY-USDT), Nvidia stock (NVDA-USDT), and Invesco QQQ Nasdaq-100 ETF (QQQ-USDT).

The research revealed that spreads on these contracts narrowed significantly as the U.S. equity session progressed, with some narrowing from over 1.76 basis points to less than half a basis point within an hour.