Honestly, Trade.xyz's liquidity and order book are way worse than Binance. The slippage when closing positions is super unfriendly. A lot of the slippage gets eaten up by the MMs. Really not friendly for traders. For the same RWA-type contract positions, Trade's slippage and order book activity are clearly lower than Binance. So, to some extent, is Trade's volume and OI being faked? Binance's MMs are more proactive, and the order book is maintained better.