According to @ai_9684xtpa, OKX opened SLERF deposits and the SLERF spot price rapidly dropped from 0.23 to 0.07982, aligning with on-chain pricing, while Binance SLERF perpetuals fell to 0.07856 (source: @ai_9684xtpa on X, Oct 18, 2025). According to @ai_9684xtpa, Binance had not moved at the time of the post, and the immediate price convergence indicates the CEX-on-chain basis collapsed and the short-lived arbitrage window effectively closed for momentum traders (source: @ai_9684xtpa on X, Oct 18, 2025).