Live P2P Radar Capture: 26/9/2026, 2:00:07 a. m.
USDT/VES reference Bs. 986.90
Buy USDT Bs. 986.90
USDT sale, Bs. 941.74
BCV Bs. 857.01
Premium vs BCV 15.16%
P2P spread 4.80%
Offers observed 190
Check current data in Radar P2P
The Venezuelan P2P market opened this September 26, 2026 with two readings that seem to contradict each other and that, in reality, describe different things. The crypto risk indicator reports an aggregated rate of Bs. 986.90 to buy USDT and Bs. 941.74 to sell it: a spread of Bs. 45.16 (4.80%) and a premium of 15.16% versus the official BCV dollar, set at Bs. 857.0058. The order book, captured at 05:59 UTC, shows another story: only 0.25% difference between the best bid (Bs. 969.56) and the best ask (Bs. 972.00).
Neither of the two numbers is wrong. The first one measures the average of what is posted in the market. The second one measures what is available right now at the best point on the order book. The difference between the two is probably the most useful figure of the day.
📊 Today’s numbers
• BCV rate: Bs. 857.0058 per dollar, with no variation reported in the screenshot.
• Parallel dollar: Bs. 969.93, with its own spread of 0.11%.
• USDT P2P (semaphore): buy Bs. 986.90 / sell Bs. 941.74; spread of Bs. 45.16 (4.80%); premium vs. BCV of 15.16%.
• Order book: best buy Bs. 969.56 / best sell Bs. 972.00; spread of Bs. 2.44 (0.25%); mid price Bs. 970.78.
• Active offers: 210 according to the semaphore; the order book lists 190 visible notices between Binance and other platforms.
• Semaphore status: 69 points, yellow, label “Moderate caution”; liquidity and bank availability score high (95), while spread and depth score low (20 and 45).
• Reference conversions: 100 USDT are equivalent to Bs. 94,173.81 using the semaphore’s sell rate, and Bs. 1,000,000 reach 1,061.87 USDT.
📈 Why do 4.80% and 0.25% coexist
The semaphore’s 4.80% spread comes from comparing two average rates: the aggregated buy rate and the aggregated sell rate. That average mixes notices from different banks, different amounts, and different payment methods, and gives the same weight to an offer of 50 USDT as to one of 20,000 USDT.
The order book works the other way around: it sorts notices by price and shows the first executable levels. In the book’s sell levels you see notices of Bs. 972.00, Bs. 973.00, and Bs. 975.00, but there are also queues of Bs. 988.50 and Bs. 994.00 that push the average upward. Those queues explain why the aggregated buy rate (Bs. 986.90) ends up so far above the best truly available price (Bs. 972.00).
In other words: the 4.80% describes the full range of the market; the 0.25% describes the point where there is counterpart today willing to close. A user trading at the best level of the book experiences a low spread; someone who takes the average as a reference may end up paying quite a bit more.
🔎 The premium is calculated on the buy rate
The 15.16% premium vs. the BCV comes from dividing the aggregated buy rate (Bs. 986.90) by the official rate (Bs. 857.0058). It’s the figure that appears on the semaphore and the one usually cited as today’s reference.
If instead you compare the aggregated sell rate (Bs. 941.74) with the BCV, the difference drops to 9.89% (own calculation based on the screenshot data). That is, the premium is not a single number: it changes depending on which side of the trade you look at. The market also reports a parallel dollar at Bs. 969.93, just 0.11% of spread between its buy and sell—confirming that the same market can show very different dispersions depending on how the data is aggregated.
Methodological note: the opportunities module of the same report mentions a 12.52% premium for the USDT/VES pair, calculated using another price reference. The semaphore’s official figure is 15.16%. It’s worth watching that internal discrepancy when quoting numbers.
💰 Which bank concentrates liquidity and with what spread
The bank comparator from the report itself shows that liquidity is not distributed evenly, and that the spread changes dramatically depending on the entity:
Bank or method Notices Spread Liquidity
Another method 39 2.76% 23.6%
Mobile Payment 32 2.69% 19.4%
Banesco 25 2.11% 15.2%
Bank of Venezuela 18 0.71% 10.9%
BANK 13 0.71% 7.9%
Mercantil 10 not reported 6.1%
Bancamiga 8 0.88% 4.8%
Provincial 6 0.83% 3.6%
📖 Read the full article: https://pitbullchain.com/noticias/usdt-p2p-en-venezuela-prima-de-15-16-y-order-book-con-0-25-real
https://public.bnbstatic.com/image/pgc/20260926/dd60c6e6b5894c379bc2955504f32bb5.jpg
📊 Live rates and analysis at https://pitbullchain.com
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