ETHBTC, 2023-06-16

Hej! Hej!

Let's do the ETHBTC-THANG!

After plugging in the quotes of $ETH and $BTC from @osmosiszone into my SPREADSHEETSZORXEN! 

it sez:

• swap 0.0128 $BTC

Ooh! 0.0001 more $BTC than yesterday! SPICY! 🌶️

Let's do this!

I do the ETHBTC-THANG!: withdrawing $BTC, bridging it to @osmosiszone to swap to $ETH (although I should have checked the @TeamKujira FIN boards, first), then bridging the $ETH back.

Am I done?

Yes, if I were just doing a swap, but there are other ETHBTC activities to check.

What other activities?

Liquidations, for one. 

I check @TeamKujira ORCA. 

Nupe, no liquidations for either $ETH nor $BTC.

Next, let's check @TeamKujira FIN for any filled orders.

Both the $ETH and $BTC order books show no orders filled, but, we're not done with FIN. Not yet.

I say that we're not done on FIN yet because there's still the OG order book to check: axlUSDC/USK, 

and we see 4 orders (at least partially) filled.

We need to check if any, or all, of these order apply to 無 arbs for either $ETH or $BTC.

無 arb HOWTO

But before I even go to check on the filled orders, you see that there aren't buy orders on the board in striking distance from market price.

• Always have money working for you.

So, I take the $ETH gained from the $BTC swap and use it to create a new 無 $ETH-arb on FIN.

You see I record my arbs and trade, order-by-order. I record these trades-in-progress and archive completed trades, WITH MEASURED RESULTS FOR EVERY TRADE, on the Trades-page of my blog.

So, you want to learn how to arb like I do? It's all there, fren.

So, four 4 orders (partially) filled on axlUSDC/USK.

1. the buy-order is mid-arb; placed a sell-order

2. the 140 $USK is 'just-a' $USK-arb, ROI: 0.68% in less than a day, so the APR is asymptotic (that a NIZE thing 😎).
3. ... is more exciting.The 無 0.478 $ETH arb of 250 $USK -> 253.4 $USK, so: ROI: 1.36, annualized to 269% APR

But there's more to it than the APR on the $USK-gain.

For, when I pay-down the $USK mint, I free up 0.5 $ETH due to $ETH price-restoration.

That's, folks, is a FRIKK'n 4.6% ROI 💥💥💥😱

We're STILL not even done with the effects of this 無 $ETH arb! For, the 0.022 $ETH gained is $ETH 'materialized out of thin air'! It WAS NOT part of the ETHBTC-portfolio.

Now it is.

"Meh. $40." you snort.

To which I reply: "No: $40 FO' FREE!" ... thanks to arbitration.

THIS, ladiez and gentles, is the power of the 無-arb.

1. You gain in arbitration of the stable
2. You gain freeing up (in this case) $wETH collateral, 'materalizing' $wETH 'from thin air'!
3. You gain by then BUIDL'n your ETHBTC portfolio, or, as I call it: my future. 😎

Okay.

4. The fourth trade is a partially-filled order of a 無 0.13 $wBTC 1000 $USK-arb, so we'll wait until it fills.