2025-12-09 21:10:42

The stablecoin market has been quite interesting lately. The OTC price of USDT has been dropping continuously, and now there's a clear inversion compared to the offshore RMB exchange rate—the offshore rate is at 7.06, but the USDT price is over ten cents cheaper.

This kind of price difference has happened before, but this time it’s lasted longer than usual. It might be related to recent market sentiment and capital flows. Some say demand for cashing out has cooled, while others think the arbitrage space has been compressed.

In any case, this level of inversion is still a signal worth paying attention to for those involved in cross-border capital flows.

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GateUser-bd883c58

· 12h ago

The arbitrage opportunities have been squeezed so much that it's getting harder and harder to make a profit.

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DegenDreamer

· 12-11 06:20

The prolonged inversion is really somewhat outrageous; it feels like funds are truly being pulled out.

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CryptoSurvivor

· 12-09 23:34

It really isn't normal for the inversion to last this long. Feels like the cash-out wave is truly over. --- Wait, the arbitrage space is being squeezed? Then what are these big players doing? --- 7.06 compared to a few cents' difference in USDT? That must mean a lot of people are buying the dip. --- A persistent inversion—does it mean funds aren't in such a rush anymore, or is there really no money left? --- Friends doing cross-border arbitrage must be having a tough time now. --- This signal is a bit weird. Feels like something is coming up. --- Got to start watching the exchange rate again, so annoying. --- A few cents really isn't a small number. I can't even calculate this. --- I've seen this happen before. It's usually a sign that things are about to change drastically. --- Cash-out demand cooling down? I think it's just that the cash-out channels are blocked.

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CexIsBad

· 12-09 21:40

Huh, is USDT getting cheaper again? The negative premium is pretty steep this time. Wait, isn't this an arbitrage signal? Why is no one acting? Has the offshore side noticed, or is the cash-out wave really over?

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MintMaster

· 12-09 21:39

It's been inverted for so long and still hasn't rebounded. Good thing I didn't hold on stubbornly.

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CounterIndicator

· 12-09 21:38

The inversion has been so obvious and lasted so long, it really shows that funds are flowing out. This time it's different; even though the arbitrage opportunity is gone, USDT is still dropping. I can't quite figure out this situation.

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ApeWithNoFear

· 12-09 21:37

The extent of this inversion is real, but the arbitrage space being eaten up is honestly a bit wild. As for U dropping in price, I feel like we still need to watch. Has the demand for cashing out really dropped? Recently, it’s mainly people urgently needing cash, right? Price spreads can disappear just like that. This wave is tough to catch, the spread is just too small, man. Wait, is it the whales dumping? Something feels off. Is the pressure on the RMB to depreciate really that high? U is actually getting cheaper. Forget it, better to wait for an opportunity. Getting in now just makes you a bagholder.

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ZkProofPudding

· 12-09 21:37

Wait, has USDT dropped below 7 RMB? That's not normal. Why haven't arbitrageurs started buying like crazy yet? Is it really that cold for withdrawals? The situation feels a bit weird. If this inverted spread continues, we might need to consider whether something is about to go wrong.

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BitcoinDaddy

· 12-09 21:29

Is withdrawal demand cooling down? That means everyone is buying the dip. This round of cross-border arbitrage isn’t as attractive as before.

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SelfStaking

· 12-09 21:27

This level of inversion lasting for so long is indeed a bit unusual. Is the demand for withdrawals cooling down? Or are funds waiting on the sidelines? It doesn’t feel that simple. The U price is over a dime cheaper; friends involved in cross-border transactions really need to keep a close eye on it. What signal is this wave sending? We’ll have to see how things unfold next. I’ve encountered this situation before, and it usually doesn’t last long. Has the arbitrage space really been squeezed flat? It’s a bit strange.

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