Just now, mmt Binance spot 3.6. Futures 6. Bybit 10. Lasted for 5 minutes. Such a large positive premium on futures—aside from black swan events—since 2021, I don’t recall Binance having this. This time, it’s probably because on 10.11 institutions got wiped out, and those who survived must have maxed out their risk control. For new coins like this, where the chips are unclear, they won’t casually arbitrage the price difference. 2025, all kinds of unheard-of things. I need to be even more cautious.