🚨 Why is $NIGHT on Binance Alpha priced at 0.031, while Bybit's spot opening price remains stable at 0.069?
One truth: Not all prices you see are real!
A group friend just asked me:
"For the same NIGHT, one is 0.031, and the other is 0.069, which one is reliable? Is it a platform issue?"
Let me explain clearly in the simplest terms 👇
💡 Truth One: Each exchange is an independent universe
Binance has its own users and buy/sell orders,
Bybit has its own users and buy/sell orders.
No platform has an "official price."
It's like the same cup of milk tea, the prices vary among different vendors.
💡 Truth Two: Different liquidity leads to "outrageous" prices
This is the core reason behind the huge price difference for NIGHT.
High trading volume on Binance → more stable prices
Bybit is newly launched, low liquidity → a small amount of funds can skew the price
In short:
The worse the liquidity, the easier it is to "inflate" the price!
A price of 0.069 on Bybit doesn't mean the coin is really worth that much; it might just have been pushed up by a few trades.
💡 Truth Three: Fees, deposit methods, trading pairs… all affect prices
Users' costs vary on different platforms, so the prices they are willing to pay naturally differ.
For example:
Some platforms have slow withdrawals
Some platforms have high fees
Some platforms only support specific trading pairs
All of these can subtly influence prices.
💡 Truth Four: Information desynchronization makes price differences look larger
Each platform updates its system at different speeds,
Has different matching mechanisms,
And experiences different user sentiments…
Seeing two different prices is very normal.
💡 Truth Five: Theoretically, arbitrage is possible, but in reality, most people will get "killed in return"
Don't be deceived by the large price difference and think you can "arbitrage without thinking."
You need to consider:
Fees
On-chain confirmation times
Withdrawal delays
Whether the price has dropped by the time it arrives
Exchange pair conversion losses
The pitfall most beginners fall into is:
After you cross over, the price difference disappears, and fees are deducted, resulting in a loss.
✅ A reminder from the heart (suggest to follow + bookmark)
Price difference ≠ opportunity, and it’s not abnormal.
For beginners, recklessly arbitraging carries great risks.
Prices vary across different platforms
When you see a platform that has been "pulled up," stay calm and don't assume that is the real price.
