2023-09-25 ETHBTC-THANG! Day 120

Folks!

Wanna see a magic tricc?

See how I make 13 $KUJI appear in three days from 370 $KUJI.

That's a paltry 3.5% ROI, granted, but a 435% APR! 💥

This is how I did it:

• 2023-09-22: 370 KUJI -> 36.7 ATOM, SELL at 0.0992
• 2023-09-25: 36.66 ATOM -> 383 KUJI, BUY at 0.0957

DONE!

This approach is what I call "barometric board" arbitration

HOWTO.

And was done in service to an $ETH-buy for the ETHBTC-THANG! using 無 arbitration.

無arb HOWTO.

What? I can combine both into one. After all: I invented the thing.

As this is in service to a 無 $wETH-arb, I repay the 370 $KUJI loan to get back my 899.1 $USK collateral.

Then I place a sell-order for the remaining 13 $KUJI on KUJI/USK. I'll combine the two and burn that $USK on my $wETH minting position on BLUE.

Thus we (無) arb $wETH.

The 13 $KUJI sell-order hit on KUJI/USK, so I take that $USK and the $USK collateral freed from the $KUJI-borrow on @TeamKujira Ghost, and burn 909 $USK on the $wETH minter on BLUE, withdrawing 2.06 $wETH

So that arb was, in the end, a 1.9 -> 2.06304 $wETH-arb.

I'm going to leave that 2 $wETH to the side for the moment.

Why?

I already have 2 $wETH leases, both covered by $USDC-earn, on @NolusProtocol 

...and both a long and short against $wETH on @Levana_protocol.

I've got good (future) coverage on $wETH now.

The reason I'm leaving the $wETH aside for the moment is that I have two $wBTC -> $wETH trades-in-progress on @TeamKujira FIN. One of them, the wBTC/MNTA sell-order hit, AND the market conditions have changed, so my new trade path is:

• wBTC -> MNTA -> axlUSDC -> wETH (changed to wBTC -> USK -> axlUSDC -> wETH)

The $wBTC sell-order hit, and $wBTC price kept on 📈😱. I place the buy-order for the $wETH. Let's see if I can snag that $ETH at the wETH/USK book price.

But, see, that's also why I have $ETH longs in place: to make a KILL'n when $ETH 🚀 I'm also hoping to gain from ETHBTC, too

Let's do the ETHBTC-THANG!

I record the $ETH and $BTC prices from @osmosiszone onto my SPREADSHEETSZORXEN!

The ETH/BTC-ratio vs. the EMA20 tells me to 

• swap $BTC for $ETH

I check my wallet and I do have enough $wBTC to swap, so I enter the first trade where $wBTC is highest.

The best trade-path $BTC -> $ETH, given current market conditions, is:

• wBTC -> USK -> axlUSDC -> wETH

./gantt chart tracks the trade.  

2023-09-25 ETHBTC-THANG! Day 120

The ETHBTC-THANG! 

• swap 0.00679 $BTC

After swap:

ETH: 5.95881 BTC: -0.0031

Total: $9,343.10 TVL EMA-20: $9,234.76

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is overvalued.

ROI: 4.02% APR: 12.22%

Postlude

It's time to put those 2 $ETH to use in a 無 arb.

無 arb HOWTO.

I mint 900 $USK from 2.168 $ETH on BLUE, then, with that $USK, borrow 400 $KUJI from Ghost.

Why? $KUJI arbs at 10% as opposed to 1% stable arbs.

Then I place a KUJI-arb bid on MNTA/KUJI.

There is an accidental, but important, benefit to this 無 $wETH-arb: the $wETH minting position, which was in the orange (warning) zone at 37% utilization is now back in the green at below 30%.

I track all my trades (mostly arbitration) on my trades-page.