Recently, I've noticed that some market makers are underperforming on both spot and futures sides. It seems they can't manage both markets simultaneously, so they've resorted to a one-sided strategy — they first deploy bots to dump on the spot market, and once they've done enough damage, they shut down spot trading and switch to making moves on the futures side. The result is a huge deviation between spot and futures prices, with spreads reaching several basis points. What's even more absurd is that the fee structures and price movements on both sides are completely misaligned — one's moving while the other's stalled, creating obvious arbitrage opportunities. The problems exposed by this operating method are actually pretty obvious — either they have limited technical capability, or they're deliberately doing it this way.
Dumping and halting again, this same old trick is getting worn out.
These market makers are really becoming less and less professional.
The divergence between the two sides is so obvious, and the fees are all messed up—it's basically handing money to savvy arbitrageurs.
Whether it's poor tech or intentional, honestly it doesn't look good either way.
These spreads are definitely fat, but the risks are real too.
With spot and futures this separated and fighting so hard, something's bound to go wrong eventually.
Recently, I've noticed that some market makers are underperforming on both spot and futures sides. It seems they can't manage both markets simultaneously, so they've resorted to a one-sided strategy — they first deploy bots to dump on the spot market, and once they've done enough damage, they shut down spot trading and switch to making moves on the futures side. The result is a huge deviation between spot and futures prices, with spreads reaching several basis points. What's even more absurd is that the fee structures and price movements on both sides are completely misaligned — one's moving while the other's stalled, creating obvious arbitrage opportunities. The problems exposed by this operating method are actually pretty obvious — either they have limited technical capability, or they're deliberately doing it this way.