Stablecoin Arbitrage on Jupiter
Q40. Because Jupiter is a dex aggregator, there are naturally opportunities where one could take advantage of liquidity pairs across the ecosystem to create arbitrage. Since February 1st, what percentage of all swaps (with a size of at least $100) where a wallet starts the transaction with USDC or USDT and ends the transaction with either USDC or USDT have resulted in at least a 1% gain? - Are there any patterns behind the most common sources of arbitrage on Jupiter? List the top 10 wallets in terms of total arbitrage gains and provide insight over their strategy. Note: Only include swaps where the swapped from amount of USDC/USDT and the swapped to amount of USDC/USDT were both greater or equal to 100 in this analysis. Sample query: select (swap_to_amount/swap_from_amount) as arbitrage from solana.swaps where block_timestamp::date >= '2022-02-01' and swap_program = 'jupiter aggregator v2' and succeeded = 'True' and (swap_from_mint = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' or swap_from_mint = 'Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB') and (swap_to_mint = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' or swap_to_mint = 'Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB') and swap_from_amount >=100 and swap_to_amount >=100 Sample tx: https://solscan.io/tx/5zgXGEgBYqE8uNyBSmnwTGPVYpxA6ntot827u2MCgZkyUrMGEWCdTqiUNjP4wjT2dujrBSimNCLvYa21GjUE4rgZ More info: https://www.coindesk.com/markets/2020/08/12/first-mover-how-a-defi-trader-made-an-89-profit-in-minutes-slinging-stablecoins/