> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cryptoquant.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Exchange Whale Ratio

> The total BTC amount of top 10 transactions (in terms of total BTC sent) divided by the total BTC amount flowing into exchange.

## What is Exchange Whale Ratio?

The total BTC amount of the top 10 transactions (in terms of total BTC sent) divided by the total BTC amount flowing into exchanges.<br />

$$
\text{Exchange Whale Ratio} = \frac{\text{Sum of Top 10 Exchange Inflow TXs(BTC)}}{\text{Total Exchange Inflows in BTC}}
$$

## How to interpret Exchange Whale Ratio

Find Whale Focused Exchanges with Top 10 Inflows. Looking at the relative size of the top 10 inflows to total inflows, it is possible to discover which exchanges whales use. For example, as Gemini has mostly whale users, it is possible for the price to rise or fall dramatically. This has potential risks, but also the possibility of arbitrage.

## Link to Our Data

* [Exchange Whale Ratio in CryptoQuant Live Chart](https://cryptoquant.com/overview/full/595?window=day)

## Related API Endpoints

Query this metric directly from the CryptoQuant Data API:

* **BTC** — [Exchange Whale Ratio](/api-reference/btc-flow-indicator/exchange-whale-ratio)