Monday, December 26, 2022

The weirdest thing in the Blockaverse: arbing the axlUSDC/USK orderbook on Team Kujira FIN marketplace

Okay, on @TeamKujira blockchain, we can all agree that we HAVE $axlUSDC, but we WANT $USK, right? We can  agree, yes?

So, given that:

The axlUSDC/USK order book has got to be the weirdest thing in the Blockaverse. Bar none.


I 'sold'(?) $axlUSDC? No: I was BUYING $USK.

Weird.
(oh, I'm on @TeamKujira blockchain now. Havin' FUN!) (keep up).
So, this weird-o order book, axlUSDC/USK, is 🔥🔥🔥

I claimed three 'sales': so I 'sold' $axlUSDC.

So, when I want to make profit on the arb I 'buy' the $axlUSDC back, but at a LOWER(!!!) price

Sell high; buy low to profit on this order book

I place 3 new sell-orders.


But, as I placed these sell-orders, two of them filled, immediately. Like I said: axlUSDC/USK is 🔥🔥🔥. So, I placed moar sell orders, then I matched what I 'sold' with buy-orders, but, remembering to set the price lower on the $USK I'm using to 'buy' $axlUSDC. Follow?


This is how arbitration on the axlUSDC/USK order book works: you first 'sell' $axlUSDC at price x, then, when that limit order is fulfilled, you 'buy' back the $axlUSDC at price x-ε.

What am I really arbing? $axlUSDC or $USK?

My answer: 'yes.' 🤓

I want to grow my $USK-bag, but growing both is fine, too.

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