Here's a straightforward arb that y'all'll dig on @TeamKujira FIN marketplace that you don't need ./vern nor ./emily to execute:
Most tokens, X, have /USK and /axlUSDC order books.
Look closely. X has different prices, depending on the order book, right?
You can exploit that.
Take the $ATOM / stable order books.
You see
- ATOM/USK prices $ATOM at $9.104
- ATOM/axlUSDC prices $ATOM at $9.119 <- higher!!
So here's the arb:
- buy ATOM at the lower price on ATOM/USK
- sell that ATOM on ATOM/axlUSDC
Now. Here comes the arb [wait for it!]
- swap the axlUSDC for USK.
So, what's the arb? Depends on what you want more of. If you want more $ATOM:
- buy ATOM with the USK on ATOM/USK order book.
And you now have more ATOM than what you bought on step 1.
But what if you wanted to arb $USK by using $ATOM? Then you'd stop at step 3.
Or, consider this:
- Keep arbing, increasing the value of your bags until the prices equalize across order books.
You're the arbiteur. You get to call these shots.
Neat-o, huh? 😎
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