What Will You Read?

In This Analysis, You Will Read about Ethereum Bots and Their Arbs on Thorchain. We want to Identify the Ethereum arb bots and show their activity over time. How many are there?

What is their average swap frequency and volume?

Which tokens are they swapping?

Are they interacting with synths or non-synths? How much profit are they making?

What is Arbitrage?

Cryptocurrency arbitrage is profiting from simultaneously buying a cryptocurrency from an exchange and selling it on a different one with a slightly higher price. If you check the price column in the above Bitcoin Markets list, there are slight differences between the prices on different exchanges.

** \n Analyzed By Hess - Reading Time Almost 10Min**

Method

• The method is a little wired.
• First, I found a Common address with Ethereum tables and Thorchain tables.
• Second, I split Thorchain assets and extracted the final names of the assets.
• Third, Joined Address, Date, and assets to Ethereum Tables.
• Fourth: Those transactions that occurred first on Ethereum are ETH →, and those that occurred first on THOR are Thor → ETH.
• Fifth: Calculate the profit percentage and ignore users with more than 30% profit. (THESE ARE NOT BOTS)
• I Calculated Only Positive profits.

ETH → Thor

Thor → ETH

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Ethereum Bots Overview

ETH → THOR:== 69 Bots swapped about 3.4M dollars and gained about 345K US dollars.

THOR → ETH:== 80 Bots swapped nearly 7.5M dollars and gained 408K US dollars.

Bots Profit

• The top bot has gained nearly 165K US dollars since January.
• 54% of the profit was for that bot in the top 10 bots.
• The second highest generated profit was 33K US dollars and the third one generated 31K US dollars.

ETH → Thor ( Assets)

• The most popular token in ETH bot arbitrage is USDT, with 187K profit which is 55% of total assets.
• The second one is XRUNE with 63K US dollars profits which are 18% of total profit.
• The third one is THOR with 30K US dollars profit which is 9% of total profit.

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Average Swap Volumes

• The highest average swaps volume was 44K US dollars.
• The second highest average swaps volume was 34K and the third one was 19K US dollars.

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Bots Profit (THOR → ETH)

• A bot generated 86K since January 1st which is 26% of total top bot profits.
• The second highest profit is 58K and the third one is 49K US dollars.

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Top Profits per Asset

• The most popular token is THOR/RUNE with 186K profits.
• The second one is XRUNE with 95K US dollars
• The third one is USDC with 45K US dollars.

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Average Volume

• The highest average volume was 48K us dollars.
• The second highest average volume was 37K, and the third was 25K US dollars.

Conclusion

• Nearly 1M dollars generated by Ethereum Bots since January 1st.
• The most popular assets for bots is USDT and XRUNE.
• The highest average is nearly 50K Us dollars.

THANK YOU FOR READING!

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