The only CEX in which HBD is present is Upbit

I thought Bittrex had BTC-HBD market:

https://bittrex.com/Market/Index?MarketName=BTC-HBD

Sadly, the formula used to guaranteed HBD can be used to manipulate the price of HIVE. The manipulation can amplify a bump in the price of HIVE or magnify a dip.

When HIVE dipped below $0.40, there was a large amount of HBD converted to HIVE then sold on the weak market.

Ausbit's HBD monitor showed a huge increase in the marketcap of HBD to that of HIVE. The "haircut" value jumped to $0.21.

It will be interesting to see if the market manipulation resulted in an increase in HBD savings or a decrease.