Binance’s USDT spot market has 430 pairs, and 410 of them also had prices available on OKX, Bybit, Bitget, or Gate during the same period. On 10/10, 103 pairs on Binance hit lows more than 10% below the second-lowest exchange, with many showing extreme deviations: 50–75% deviation: ACT, AUDIO, COOKIE, DOT, EPIC, FIL, FIS, GHST, HEMI 75–100% deviation: HOOK, ICX, MITO, PIXEL, POLYX, QI, REZ, TREE, ZROAXL, BERA, CYBER, DEGO, HIVE, HOME, INIT, JUP, RPL Over 100% deviation: ANIME, API3, APT, ATOM, BANANAS31, CVC, DEXE, DOGS, ENJ, ENS, ETHFI, FLM, FXS, GMT, IOST, IOTX, KAVA, KERNEL, ME, MUBARAK, ORCA, PUMP, RVN, SAND, SOLV, SUSHI, SYRUP, SYS, TUT, UMA, WIF During the event, Binance’s lows deviated sharply from other exchanges — even compared to USDT-based venues, and the gap would be larger against USD-paired ones. Binance is the largest offshore exchange and the primary price discovery venue for altcoin USDT pairs. If not for Binance’s unusually low prices during the event, the liquidation wave would never have been this severe.(Benson Sun)