Let's go nuts, shall we?
I'm jonesin' for some Prince and the Revolution, myself.
./vern, my main man, ./vern sez there's a 3% arb on $KUJI starting with a KUJI/ATOM swap
- KUJI,ATOM,axlUSDC,ATOM,USK,KUJI
So, I'm going for my first 1k-$KUJI arb.
Let's see how I do.
My KUJI/ATOM sell-order hit.
./vern, my main man, ./vern sez to go via axlUSDC now, which is fine.
I claim the order and place the new one.
I wake up, and my $ATOM is sold for $axlUSDC at $11.791.
Great!
./vern says, buy back the $ATOM.
Why?
The price of $ATOM has fallen over night, and the best arb for $KUJI, now, is to buy back the $ATOM.
So: I actually arbed $ATOM this morning: 38.7 -> 39.8
Cool!
My $ATOM buy-order hits, so I claim that.
./vern is chill with the current arb-trade-path, so I place a sell-order on ATOM/USK, continuing the arb.
I got a partial fulfillment of my $ATOM-sell order,
...but ./vern still says sell $ATOM for $USK.
So, I take the partial-fulfillment, cancel the original sell-order, then resubmit that order at the new (lower) price.
My ATOM/USK sell-order hit, but now ./vern is saying to swap to axlUSDC and go through the ATOM/stables order books.
Why?
The disparity in the ATOM/USK and the ATOM/axlUSDC is a not-insignificant 15¢, creating arb opportunities everywhere: for $ATOM, for stables, and for $KUJI.
But look at this gantt chart.
It's been a complicated arb, and it's been getting more complicated as the arb progresses. Some may call this 'nerve-wracking' (๐ @technologypoet) but I call this FUN! see? It's FUN!
A complicated arb, though, is it ever a good thing?
In this case: yes. As the arb as progressed the ฮด has been increasing, increasing the value of the arb.
But that doesn't mean in one market shift that increase disappears entirely, because that's happened to me, too!
So, instead of (only) continuing the arb, risking that market shift, I'm taking two paths, as indicated by the gantt chart:
- half the $USK goes to buy back $KUJI, hedging the arb
- the other half continues the arb, chasing those gains.
So, I win both ways with this hedge.
The $USK -> $KUJI-side comes to a close, locking in 529.6 $KUJI on the 1000 $KUJI-arb.
So far: so good!
The axlUSDC/USK buy-order hits on the $KUJI-arb, but now the $ATOM-arb has dried up.
Consequently, ./vern, my main man, ./vern tells me to swap back to $USK
... so now I'm arbing on the axlUSDC/USK order book.
That's ... 'unusual.' ๐๐
~ el geophf, arb-KANGz ๐
Meanwhile, ./vern is HOT on a very simple $KUJI-arb:
- KUJI,axlUSDC,USK,KUJI
at 1.5% ROI, but I did it longhand, myself, and the arb is more like 2% ... okay: why quibble.
SO!
I'm launching a new $KUJI-arb, ...
DURING my $KUJI-arb.
Eheh. ๐
HALF the axlUSDC/USK-arb hit, and now the price there is drifting South.
Meanwhile the KUJI/USK and KUJI/axlUSDC prices are about the same, SO! I'm going to retract the remaining part of this sell order, and buy $KUJI with both $axlUSDC and $USK.
Remember, folks: this is FUN!
Once these last two buy orders hit, that'll complete the arb. When they do hit, we'll see how the arb did.
NEAT-o!
I BUY some $KUJI to (partially) finish my old arb
... some days later ...
On @TeamKujira FIN, I am not seeing market prices for any token.
Because all the market prices are null, my systems are unable to update market quotes for my portfolio, making my main man, ./vern, verra sad.
... and me, too, truth be told.
I can, with this buy-order fulfilled on the KUJI/USK board, finish out my 1k $KUJI-arb.
So, I will.
2023-03-23: 1000 $KUJI
->> 2023-03-27: 1060 $KUJI
14 trades.
ROI: 6.07%
APR: 553%
QUITE! the adventure! I am well-pleased. ๐
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