Friday, April 28, 2023

Arbing borrowed OSMO from Kujira Ghost

Let's arb $OSMO with @TeamKujira Ghost.

First problem: Ghost doesn't have any $OSMO to lend.

No problem: I lend the $OSMO, then I borrow that.





See?

./vern, my main man, ./vern recommends the following arb-path:

  • OSMO,axlUSDC,LUNA,USK,KUJI,ATOM,axlUSDC,OSMO
So I place the first order

  • 2023-04-28 placed: 30 OSMO -> _ axlUSDC, SELL at 0.799 filled
$LUNA just shot up 20¢, changing the arb significantly (and invalidating the LUNA-arb. Yay.), so ./vern, my main man, ./vern, reroutes via KUJI/ATOM, and, as soon as I submit that order, it fills (faster, even, than the $OSMO sell order, smh).

  • 2023-04-28 placed: 24.6435 axlUSDC -> 32.8142 KUJI, BUY at 0.751 filled
And a change again, simplifying the path back to $axlUSDC then out to $OSMO.

This simplification is fine by me.


  • 2023-04-28 placed: 32.8142 KUJI -> _ axlUSDC, SELL at 0.763 filled
And we head out with a buy order on $OSMO



But now it's better to swap to $USK and buy $OSMO that way.

  • 2023-04-28 placed: 25.0185 axlUSDC -> 23.843 USK, SELL at 0.953 filled
  • 2024-04-28 placed: 23.843 USK -> _ OSMO, BUY at 0.748 filled
We started with 30 $OSMO, and we arbed to 31.645 $OSMO, in a twisty-turny fashion.

While I was pursuing a Ghost-arb with ORCA, my $OSMO buy-order popped on FIN, so now I close my $OSMO borrow. I lend the $OSMO I earned from the arb to Ghost, so somebody else can do this now, and earn me extra 'x' on my 'x'-tokens. See? 






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