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TL;DR: low supply, limited borrow, so hard to do the "sell spot vs buy futures" arb. You can short futures, but not spot.

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There's a 30% spread between $FIL perpetual price and spot price, and FTX users are being paid almost 1% per hour to close it. What is going on...

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FTX's discount to spot markets was pretty consistently about 50% throughout

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Thank for your listing 👏