What are the two most important order books on @TeamKujira FIN?
... after axlUSDC/USK and ampLUNA/LUNA ('my' order book) 🙄
The 'barometer' order books are:
- KUJI/ATOM and
- KUJI/LUNA.
Why?
Their $KUJI prices: it tells me everything I need to know to arb KUJI, ATOM, and LUNA.
How does this work?
- If $KUJI is high (vis-Ã -vis KUJI/axlUSDC or KUJI/USK), then I SELL $KUJI there, getting BARGAINS on $LUNA and $ATOM.
What if $KUJI on those barometer books is low compared to the stable books?
- I BUY KUJI, then take that KUJI and SELL it on the stable book, then, with the stable, BUY $LUNA or $ATOM at market price, but the $KUJI arb gets me more buying power for the $LUNA or $ATOM I do buy!
Either way, I make money by leveraging the price-differential of $KUJI on the KUJI/ATOM or KUJI/LUNA books verses the price of $KUJI on the KUJI/stable books.
Try it out.
Then: you'll never have to buy $LUNA nor $ATOM with a stable. You let arb'd $KUJI buy them for you.
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