"This is what a stable trading strategy looks like... The purpose of the index price is to anchor the contract price, so it must be based on components with pricing power and market credibility. Using platforms that have lost pricing power like Bitget or MEXC to open reverse positions with Binance Futures is essentially not risk hedging—it's betting that the price spread won't widen even after deposits are disabled. When all components disable deposits and withdrawals, and arbitrage bots stop running, you'll notice that the depth and spreads on many order books become terrible, losing their pricing ability. So, once the prices on these order books deviate significantly from Binance, they are very likely to be excluded from the index. Take DRIFT and ESPORTS as examples. When there is no pricing market for spot trading, introducing Binance Futures' order book prices, combined with the prices of two CEXs with minimal spreads, and applying a 3% median limit, is already the solution that minimizes price impact for Binance users. As for the question someone raised yesterday about why not use Dex + Binance Futures as the two components for the index: 1) When there are only two components, the median principle becomes invalid, and the index price becomes very unstable. 2) The Dex + Binance Futures combination is highly susceptible to market manipulation. It solves a small problem but introduces a much bigger one. With such a setup, how could you even dare to pursue low-risk arbitrage?" #CryptoTrading #IndexPrice #Binance #Arbitrage