axlUSDC/USK arbitrage

How I arb $USK using $FURY on @TeamKujira FIN FURY/USK order book.

• I placed a buy-order of 50 USK of ~12k $FURY
• that hits
• I placed a sell-oder of that ~12k $FURY at 10% higher price.

As you see: 

I'm now collecting 56 $USK, or 10% more $USK, from that sell-order.

Conversely, I arb both $axlUSDC and $USK on the axlUSDC/USK order book.

This time I'm arbing $axlUSDC (OR. AM. I???): I placed sell orders of $axlUSDC for 50 and 37.5, sold for $USK, now I'm buying back at 51 and 38 $axlUSDC.

axlUSDC/USK is a no-brainer arb-machine! 

Do I rest on those trades?

Nosirree.

I turn those buy-orders around to sell-orders, again, a bit higher than I bought.

THEN! Since axlUSDC/USK is so freek'n whack, I put in three buy-orders for deeply discounted axlUSDC-bargains.

axlUSDC/USK: weird

This is a follow-up to the simple arb post.

Okay, on @TeamKujira blockchain, we can all agree that we HAVE $axlUSDC, but we WANT $USK, right? We can  agree, yes?

So, given that:

The axlUSDC/USK order book has got to be the weirdest thing in the Blockaverse. Bar none.

I 'sold'(?) $axlUSDC? No: I was BUYING $USK.

Weird.

So, this weird-o order book, axlUSDC/USK, is 🔥🔥🔥

I claimed three 'sales': so I 'sold' $axlUSDC.

So, when I want to make profit on the arb I 'buy' the $axlUSDC back, but at a LOWER(!!!) price

Sell high; buy low to profit on this order book

I place 3 new sell-orders.

But, as I placed these sell-orders, two of them filled, immediately. Like I said: axlUSDC/USK is 🔥🔥🔥. So, I placed moar sell orders, then I matched what I 'sold' with buy-orders, but, remembering to set the price lower on the $USK I'm using to 'buy' $axlUSDC. 

Follow?

This is how arbitration on the axlUSDC/USK order book works: you first 'sell' $axlUSDC at price x, then, when that order is fulfilled, you 'buy' back it at price x-ε.

What am I really arbing? $axlUSDC or $USK?

'Yes' 🤓

I want to grow my $USK-bag, but growing both is fine, too.

The weirdest thing in the Blockaverse: arbing the axlUSDC/USK orderbook on Team Kujira FIN marketplace

Okay, on @TeamKujira blockchain, we can all agree that we HAVE $axlUSDC, but we WANT $USK, right? We can  agree, yes?

So, given that:

The axlUSDC/USK order book has got to be the weirdest thing in the Blockaverse. Bar none.

I 'sold'(?) $axlUSDC? No: I was BUYING $USK.

Weird.

(oh, I'm on @TeamKujira blockchain now. Havin' FUN!) (keep up).

So, this weird-o order book, axlUSDC/USK, is 🔥🔥🔥

I claimed three 'sales': so I 'sold' $axlUSDC.

So, when I want to make profit on the arb I 'buy' the $axlUSDC back, but at a LOWER(!!!) price

Sell high; buy low to profit on this order book

I place 3 new sell-orders.

But, as I placed these sell-orders, two of them filled, immediately. Like I said: axlUSDC/USK is 🔥🔥🔥. So, I placed moar sell orders, then I matched what I 'sold' with buy-orders, but, remembering to set the price lower on the $USK I'm using to 'buy' $axlUSDC. Follow?

This is how arbitration on the axlUSDC/USK order book works: you first 'sell' $axlUSDC at price x, then, when that limit order is fulfilled, you 'buy' back the $axlUSDC at price x-ε.

What am I really arbing? $axlUSDC or $USK?

My answer: 'yes.' 🤓

I want to grow my $USK-bag, but growing both is fine, too.

2022-12-06 arbitrage: 100 axlUSDC

Next, while we're waiting on the $ATOM buy limit order, let's do the $axlUSDC-arb.

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

• axlUSDC,USK,ATOM,OSMO,axlUSDC

We'll worry about the ATOM/OSMO path when we (ever) get to it. Let's place the order:

• 2022-12-06 placed: 100 axlUSDC -> _ USK, SELL at 0.9466 fulfilled

The first order, axlUSDC -> USK, hit for my axlUSDC-arb.

Do you know what I do next? Are you getting the rhythm of this?

1. claim orders.
2. consult ./vern, my main man, ./vern
3. place orders

This is the process where one BUIDL's positions from smol bag to Santa bags.

./vern, my main man, ./vern suggested a simpler trading-path for the axlUSDC-arb, one that doesn't involve the dicey ATOM/OSMO book.

I'm not complainin'

• axlUSDC,USK,KUJI,ATOM,USK,axlUSDC

Mr. ./gantt: do your thing; 

I'll do mine by placing the next order:

• 2022-12-07 placed: 94.65 USK -> 159.3434 KUJI, BUY at 0.594 fulfilled

A funny thing happened whilst placing this order: the price on KUJI went up $0.2. d-mn-t. So, I had to retract my order, then place it again, all in a matter of seconds.

*whew*

And *BANG* that order hit right away, so I consult ./vern, my main man, ./vern, just to be sure (yeup, the path is unchanged), then place the next order:

• 2022-12-07 placed: 159.3434 KUJI -> _ ATOM, SELL at 0.0651 fulfilled

This trade is interesting, because it's already half-fulfilled. 

So, I'll give this one a pass and revisit this later tonight. 

2022-12-02 Trade: 100 $axlUSDC

Let's 'create' $axlUSDC.

./vern says:

• axlUSDC,USK,ATOM,OSMO,axlUSDC

but, of course, we wish to avoid ATOM / OSMO order book (?) so the path around that is:

• ATOM,KUJI,USK,ATOM,axlUSDC,OSMO

Our gantt-chart is:

Friendly reminder (to myself, mostly) that gantt-charts are only good up to the point where they are made. Changing market conditions may require (significant) course corrections. Caveat trader.

The first trade in this series is:

• 2022-12-02 placed: 100 $axlUSDC -> 96.49 $USK, SELL at 0.9649 fulfilled

I claimed the axlUSDC / USK order, so now, onto the next step.

First, I have to find out what the next step is, so I go ask ./vern, my main man, ./vern.

./vern has some very different ideas today, but there is still and optimal path that includes $USK.

• axlUSDC,OSMO,ATOM,USK,KUJI,axlUSDC
• 2022-12-03 placed: 96.49 USK -> 162.9899 KUJI, BUY at 0.592 fulfilled
• 2022-12-03 placed: 163 KUJI -> 101.06 axlUSDC, SELL at 0.62 fulfilled

Eheh. That got filled RIGHT QUICK! 

Result

2022-12-03: 100 axlUSDC -> 101.06 axlUSDC, 1.06 axlUSDC (1.06%) ROI, 1 day