Does either of them have good liquidity?
On DEX:
On 1inch BSC chain, you can swap 1 000 000$ on BTC/USDT trading pair with only 0.23% slippage. 10 000 000$ with 4% slippage.
On 1inch ETH chain, you can swap 100 000 000$ on ETH/USDT trading pair with 3.7% slippage, 1 000 000$ with 0.18% slippage.
On CEX:
On binance spot you can buy 6 000 000$ worth of bitcoin with only 1% slippage.
I don't think any of us need more liquidity (and we're talking about a single trade here, buying/selling in smaller chunks would have a significantly smaller impact on the price)