Where is the perpetual funding for Sandisk (SNDK) mainly concentrated across trading platforms? Looking at the unified unilateral OI metric, centralized exchanges account for nearly 90% among the major platforms, with Binance @binancezh alone taking a whopping 59.5%. In other words, in the SNDK perpetual market, Binance's open interest has surpassed any other major platform, roughly three times that of the second place. I think this data is more interesting than simply saying 'Binance is #1 in OI.' For perpetual trading, depth isn’t just about rankings—it directly impacts actual trading costs. Over the past 7 days, SNDKUSDT's trading volume on Binance was approximately $16.7 billion, with an OI of about $626 million, leading in both open interest and trading volume. For those who need to trade frequently or handle large positions, order book depth and consistent volume are very practical considerations. So, I prefer to interpret this data as a result of market choice: on-chain perpetuals are indeed gaining traction, but at least for the SNDK market, the majority of funds are still concentrated on centralized exchanges, with a significant portion choosing Binance. No need to argue about whether CEX or DEX has a brighter future—just follow the money and positions. That’s probably more objective. Binance