企业债“表面平静、内部异动”：约1万亿美元投资级债券利差偏离评级

【企业债“表面平静、内部异动”：约1万亿美元投资级债券利差偏离评级】9月1日消息，据彭博社报道，全球投资级企业信贷表面波动极低，但约1万亿美元非金融高评级债券正以明显高于其评级区间的利差交易，其中美国约5800亿美元、欧洲近4000亿美元，且都为剩余期限三年以上品种。整体高评级指数利差仍在近25年来低位附近徘徊，但成分券内部出现明显“错位”：部分单A债券利差已高于BBB曲线，甚至有投资级债券交易利差超过部分垃圾债。分析称，AI“超大规模算力企业”(hyperscalers)加杠杆发债推高其在指数中的权重、欧美车企受中国竞争压力、软件企业面临AI威胁、保险公司因私募信用资产敞口受罚，正共同推动这轮结构性利差扩张，为主动管理者提供“错价”交易机会，但若评级被下调或情绪逆转，相关利差可能重新定价。(2026-09-01 19:43:19)

排名	#	交易平台	24H成交额	成交涨跌幅	活跃度
1	OKX 欧易OKX	$185.84亿	-11.59%	86.7%	86.7%
2	HTX 火币huobi	$26.87亿	0.43%	68.6%	68.6%
3	Binance 币安网	$407.23亿	-8.02%	85.4%	85.4%
4	Coinbase Coinbase	$9.23亿	-15.31%	69.3%	69.3%
5	Bybit Bybit	$106.91亿	-6.69%	65.3%	65.3%
6	Crypto.com Crypto.com	$12.19亿	-8.34%	53.3%	53.3%
7	Bitfinex Bitfinex	$2.04亿	19.51%	65.3%	65.3%
8	Kraken K网(Kraken)	$7.51亿	-8.92%	68.4%	68.4%
9	Upbit Upbit	$2.75亿	-20.9%	56.9%	56.9%
10	Bitget Bitget	$72.95亿	0.5%	71.1%	71.1%
11	Deribit Deribit	$4.40亿	5.27%	36.2%	36.2%
12	Gemini 双子星（Gemini）	$2,995.56万	-18.86%	59.5%	59.5%
13	BiKing 币王	$215.24亿	-0.43%	31%	31%
14	MEXC MEXC	$111.24亿	1.32%	76.2%	76.2%
15	Bithumb Bithumb	$1.39亿	-9.28%	66.9%	66.9%
16	gate.io 大门	$108.35亿	-12.42%	55.2%	55.2%
17	BitTap 币泰	$11.54亿	-6.34%	26%	26%
18	Hyperliquid Hyperliquid	$16.18亿	26.98%	46.9%	46.9%
19	Uniswap v3 (Base) Uniswap v3 (Base)	$1.11亿	-10.77%	31.5%	31.5%
20	bitFlyer bitFlyer	$1,670.51万	-21.06%	58.2%	58.2%

排名	#	币种	最新价	24H最高	24H最低	24H量	流通市值	24H涨跌幅
1	BTC 比特币	$ 78248	$7.92万	$7.75万	$4.61亿	$1.56兆	0.38%	0.38%
2	ETH 以太坊	$ 2451.68	$2,489.33	$2,427.00	$2.33亿	$2,959.02亿	0.38%	0.38%
3	XRP 瑞波币	$ 1.3784	$1.40	$1.36	$3,873.24万	$839.68亿	1.01%	1.01%
4	BNB 币安币	$ 687.8	$694.70	$683.20	$658.06万	$937.88亿	0.29%	0.29%
5	USDC USD Coin	$ 1.0004	$1.00	$1.00	$2,608.10万	$707.43亿	0%	0%
6	SOL Solana	$ 102.32	$105.00	$101.33	$9,531.43万	$579.69亿	-0.19%	-0.19%
7	TRX 波场	$ 0.3256	$0.33	$0.33	$993.29万	$308.40亿	-2.19%	-2.19%
8	DOGE 狗狗币	$ 0.08291	$0.08	$0.08	$1,958.61万	$139.48亿	0.82%	0.82%
9	BCH 比特现金	$ 248.61	$251.74	$244.26	$34.72万	$49.67亿	1.77%	1.77%
10	HYPE Hyperliquid	$ 83.98	$85.37	$80.76	$3,508.45万	$284.98亿	3.82%	3.82%
11	ADA 艾达币	$ 0.19971	$0.20	$0.19	$527.46万	$71.80亿	2.69%	2.69%
12	WBTC Wrapped Bitcoin	$ 77634.2	$7.91万	$7.76万	$1,364.33	$100.08亿	-0.8%	-0.8%
13	LEO UNUS SED LEO	$ 9.333	$9.70	$9.24	$2.45万	$86.02亿	-2.79%	-2.79%
14	LINK ChainLink	$ 11.454	$11.53	$11.17	$525.78万	$77.67亿	2.38%	2.38%
15	XLM 恒星币	$ 0.17833	$0.18	$0.17	$83.10万	$57.80亿	1.76%	1.76%
16	LTC 莱特币	$ 49.73	$49.82	$48.12	$289.14万	$38.15亿	3.15%	3.15%
17	HBAR Hedera Hashgraph	$ 0.07486	$0.08	$0.07	$26.56万	$32.03亿	1.91%	1.91%
18	ZEC 大零币	$ 857.77	$870.79	$821.05	$1,093.67万	$141.33亿	4.33%	4.33%
19	AVAX Avalanche	$ 7.324	$7.33	$7.15	$38.61万	$31.51亿	2.23%	2.23%
20	SHIB Shiba Inu	$ 0.000005181	$0.00	$0.00	$27.05万	$30.53亿	3.37%	3.37%
21	SUI Sui	$ 0.7331	$0.74	$0.72	$703.38万	$27.80亿	2.15%	2.15%
22	CRO Cronos	$ 0.05641	$0.06	$0.06	$20.75万	$21.77亿	1.85%	1.85%
23	WLFI worldlibertyfinancial-education	$ 0.05696	$0.06	$0.06	$61.18万	$15.23亿	-0.99%	-0.99%
24	UNI Uniswap	$ 5.685	$5.96	$5.08	$1,365.42万	$36.11亿	11.71%	11.71%
25	DOT 波卡币	$ 0.8677	$0.88	$0.82	$65.46万	$14.34亿	5.4%	5.4%
26	MNT Mantle	$ 0.5415	$0.57	$0.54	$24.30万	$17.61亿	-5.06%	-5.06%
27	PAXG PAX Gold	$ 4371.61	$4,460.49	$4,337.88	$90.57万	$16.65亿	-1.19%	-1.19%
28	ASTER Aster	$ 0.6996	$0.71	$0.69	$176.69万	$17.46亿	0.83%	0.83%
29	AAVE Aave	$ 127.1	$129.09	$122.48	$236.22万	$19.46亿	3.39%	3.39%
30	HTX HTX	$ 0.0000016282	$0.00	$0.00	$8,002.52	$16.28亿	-1.24%	-1.24%
31	TAO Bittensor	$ 226.6	$233.28	$222.95	$183.09万	$23.95亿	0.03%	0.03%
32	OKB OK币	$ 111.36	$112.96	$110.37	$50.38万	$23.39亿	0.43%	0.43%
33	PEPE Pepe	$ 0.000003533	$0.00	$0.00	$845.88万	$14.86亿	-0.36%	-0.36%
34	ETC 以太经典	$ 7.322	$7.40	$7.20	$21.71万	$11.35亿	1.44%	1.44%
35	NEAR NEAR Protocol	$ 2.026	$2.03	$1.83	$798.95万	$26.03亿	10.22%	10.22%
36	ICP Internet Computer(Dfinity)	$ 2.461	$2.46	$2.38	$35.34万	$13.44亿	3.27%	3.27%
37	PI Pi Network	$ 0.09159	$0.09	$0.09	$36.75万	$7.68亿	1.47%	1.47%
38	WLD Worldcoin	$ 0.3711	$0.38	$0.35	$398.16万	$10.04亿	4.53%	4.53%
39	ATOM 阿童木	$ 1.486	$1.51	$1.46	$4.24万	$7.23亿	1.5%	1.5%
40	FDUSD First Digital USD	$ 0.999	$1.00	$1.00	$1,214.99万	$9.82亿	0.02%	0.02%
41	ENA Ethena	$ 0.16087	$0.17	$0.15	$501.22万	$12.80亿	8.19%	8.19%
42	USDD USDD	$ 0.9992	$1.00	$1.00	$2,106.68	$8.55亿	-0.01%	-0.01%
43	KAS Kaspa	$ 0.02752	$0.03	$0.03	$68.88万	$7.46亿	2.34%	2.34%
44	QNT Quant	$ 62.76	$63.17	$60.87	$12.18万	$7.58亿	2.53%	2.53%
45	ALGO Algorand	$ 0.0893	$0.09	$0.08	$15.06万	$7.89亿	5.65%	5.65%
46	FLR Flare	$ 0.006886	$0.01	$0.01	$203.92万	$5.69亿	8.62%	8.62%
47	XDC XDC Network	$ 0.02771	$0.03	$0.03	$13.77万	$5.29亿	-0.07%	-0.07%
48	APT Aptos	$ 0.5623	$0.56	$0.52	$33.31万	$4.23亿	8.38%	8.38%

企业债“表面平静、内部异动”：约1万亿美元投资级债券利差偏离评级

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