The trading pair #交易对 refers to a combination of exchanging one asset for another in financial or cryptocurrency markets, commonly seen in forex and cryptocurrency trading. For example, BTC/USDT indicates buying and selling Bitcoin (BTC) using Tether (USDT). The first item in the trading pair is the 'base asset', and the second item is the 'quote asset', representing the price of each unit of the base asset. When choosing a trading pair, one must consider its liquidity, trading volume, and volatility, as these factors affect execution efficiency and price stability. Popular trading pairs typically have smaller bid-ask spreads, making them suitable for short-term operations. Understanding trading pairs helps investors flexibly switch assets, seize market opportunities, and conduct more effective arbitrage and risk management.