Live P2P Radar screenshot: 18/9/2026, 2:00:14 a. m.

USDT/VES reference Bs. 973.55

Buy USDT Bs. 973.55

USDT sale Bs. 924.40

BCV Bs. 848.55

Premium vs BCV 14.73%

P2P spread 5.32%

Observed offers 154

Check current data in P2P Radar

Cut summary. On September 18, 2026, at 06:00 UTC, the P2P Radar showed 973.55 Bs. for the buy reference and 924.40 Bs. for the sell reference: a spread of 49.15 Bs., equivalent to 5.32%. Three seconds earlier, the executable order book on Binance and other platforms had its best ask at 949.20 Bs. and its best bid at 946.00 Bs. Between those two prices there is a 3.20 Bs. difference, 0.34%. Both numbers are real. They measure different things.

The confusion doesn’t come from a calculation error. It comes from comparing an aggregated rate with an execution price. The first describes the entire market; the second is what actually appears on your screen when you open an order.

📊 What each figure measures

The P2P Radar summarizes the universe of posted ads: 165 active offers and 154 ads in the slice, split between Binance and other platforms, with all banks and all ticket sizes mixed into a single average.

The order book does the opposite. It sorts the live orders from best to worst price and shows the market’s edge:

• Best ask: Bs. 949.20 per USDT (Binance, banks Banco del Tesoro and Banco de Venezuela, up to 1,354.27 USDT).

• Best bid: Bs. 946.00 per USDT (Binance, Bancamiga, up to 3,495.44 USDT).

• Mid price between both: Bs. 947.60

• Edge spread: Bs. 3.20, 0.34%.

Reading. The aggregated buy reference (Bs. 973.55) sits 24.35 Bs. above the best available ask, 2.56% more expensive. The aggregated sell reference (Bs. 924.40) sits 21.60 Bs. below the best bid, 2.28% less. That’s the gap that almost never gets explained in the messages that circulate.

📈 The gap in bolívares, ticket by ticket

The averages make more sense with a concrete example. Let’s assume a 100 USDT ticket and an immediate exit crossing the book’s edge.

• Buy 100 USDT at the best ask: Bs. 94,920. Using the reference of Bs. 973.55 it would be Bs. 97,355. Difference: Bs. 2,435.

• Sell 100 USDT at the best bid: Bs. 94,600. Using the reference of Bs. 924.40 it would be Bs. 92,440. Difference: Bs. 2,160.

• Enter and exit immediately against the book’s edge costs Bs. 3.20 per USDT (0.34%). Doing it against the aggregated reference costs Bs. 49.15 per USDT (5.32%).

This exercise isn’t an operating recommendation like that: it’s a way to measure the spread cost. To size it, using the slice’s sell reference, Bs. 1,000,000 equaled 1,081.79 USDT. The same million, measured against the best bid, yielded 1,057.08 USDT.

Calculation, not opinion: the differences above come from subtracting the order book data from the Radar data in the same time interval. If the slice were different, the amounts would change.

🔎 The bank weighs more than the exchange

Here is the most useful finding of the day. The average spread changes radically depending on the payment method, and not always in the direction people expect.

Average Spread Method Ads Liquidity Weight

Banco de Venezuela 0.74% 15 10.8%

BANK 0.74% 11 7.9%

Banesco 1.63% 31 22.3%

Pago Móvil 2.47% 35 25.2%

Other method 2.89% 25 18.0%

In Banesco, the average buy and sell prices were at Bs. 955.34 and Bs. 940.04: Bs. 15.29 of spread. In Banco de Venezuela they were Bs. 950.39 and Bs. 943.42: Bs. 6.97. The difference between the two is Bs. 8.32 per USDT, about Bs. 832 in a 100-ticket. That amount is either paid or not paid just by choosing the payment rail.

The book pattern confirms it. The highest ask levels, between Bs. 963.00 and Bs. 965.35, almost all come from other platforms and are associated with Pago Móvil and Other method. The best purchase prices for the slice were on Binance. It’s not a fixed rule, but in this slice the difference between exchanges was noticeable.

💰 The ad limit defines your average price

An overlooked detail: the best price is almost never available for any amount. Each order has a minimum and a maximum that bound the transaction.

• Low minimums: 8.02 USDT at a level of Bs. 960.00; 13.50 USDT at Bs. 940.00; 14.00 USDT at Bs. 936.00 (all on other platforms).

• High maximums: 77,815.13 USDT at a level of Bs. 942.76; 36,321.49 USDT at Bs. 951.00; 34,182.40 USDT at Bs. 943.50.

📖 Read the full article: https://pitbullchain.com/noticias/el-spread-que-ves-no-es-el-que-pagas-anatomia-del-spread-real-p2p

https://public.bnbstatic.com/image/pgc/20260918/44b19d717912454692789c08863b3503.jpg

📊 Live rates and analysis at https://pitbullchain.com

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