On 25 October at 00:09:44 UTC our detector flagged T up 56.2% in 30 minutes, from 0.00463 to 0.00723. Binance, Bybit, Bitget and Gate all confirmed it. The percentage is the headline. The timestamps are the story.
Binance and Bybit futures, aligned to the level 60 minutes before the move. Source: the QuickRadar day review for 25 October.
Who moved first
We record the moment each exchange's price first crossed the sharp-move threshold, to the millisecond:
| Exchange (futures) | First threshold crossing, UTC | Price at that moment |
|---|---|---|
| Binance | 00:02:44 | 0.005483 |
| Bybit | 00:09:24 | 0.005696 |
| Bitget | 00:09:35 | 0.005615 |
Binance crossed first, at about +20% from its price an hour earlier. Bybit and Bitget followed nearly seven minutes later, ten seconds apart, and the cross-exchange move was registered at 00:09:44, nine seconds after the third exchange. Gate's series in the review starts later, with its first recorded crossing at 00:49:38, so we do not read it as a lag.
For anyone who trades the gap between venues, that is the useful part: a sharp move rarely shows up everywhere at once, and the order in which exchanges move is visible in the data.
What open interest said
Open interest rose on every exchange that has a one-minute series:
| Exchange | Window start | Window end | Change |
|---|---|---|---|
| Binance | $1.4M | $4.5M | +227.7% |
| Bybit | $727K | $2.2M | +205.7% |
| Gate | $60.6K | $150K | +147.6% |
| KuCoin | $399K | $959K | +140.4% |
| Bitget | $609K | $1.3M | +116.7% |
| MEXC | $1.8M | $2.1M | +17.7% |
Money came in alongside the price on the exchanges that led the move. Trading volume over the day reached $3.7M on the busiest leg.
Could you trade the gap?
In the move window the arbitrage engine recorded exactly one pair: buy on Gate at 0.006043, sell on Bybit at 0.006061, at 00:11:18. That is a 0.3% gross spread, 0.2% net after fees, with $10K of depth.
This is the difference between "the price is different" and "the price is tradable". The number QuickRadar shows is the executable one: buy at the ask, sell at the bid, minus taker fees on both exchanges, with the depth that fills without slippage. On this move the honest answer is: yes, a small one, and the order-of-moves signal above was worth more than the spread.
Check the numbers
Every figure here comes from one page: the day review for 25 October, with the full price table, funding rates and open interest for T. The coin pages (arbitrage T, open interest T) show the same coin live.
A condition like "sharp price move confirmed by several exchanges" takes a minute to set up as an alert in the QuickRadar builder: pick the exchanges, the threshold, and get the message in Telegram when it fires.
This article was drafted with AI assistance; every number was checked by the QuickRadar team against the published day review.
