#PIPPIN Official, someone should respond. Your platform has a price difference of several hundred points between futures contracts and spot prices. There's also such a large price difference between your contracts and other platforms. Do you operate as a completely independent system? Can you set whatever price you want?

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Youyi

· 3h ago

Hello, price discrepancies typically occur for the following reasons: Different pricing mechanisms: Perpetual contracts use a dual-price mechanism with a mark price (composed of index price + funding rate basis), while spot markets directly reflect market transaction prices, creating a basis difference between the two. Funding rate impact: Perpetual contracts are anchored to spot prices and narrow the gap through funding rates during settlement cycles, but deviations may occur before settlement. Liquidity and market depth differences: Different platforms and trading pairs have varying order book depths and liquidity, causing transaction price differences at any given moment. Different contract types: USD-margined, coin-margined, and delivery contracts have different pricing and settlement methods, resulting in different price performance. Risk events and liquidations: Forced liquidations and automatic deleveraging during sharp volatility may amplify short-term price discrepancies.

Recommendations: Reference the mark price and index price to determine fair value levels and avoid being misled by abnormal transaction prices. Pay attention to temporary basis differences created by funding rates and settlement cycles. Use passive orders and reduce-only tools to minimize slippage and unnecessary fee risks.

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