Stablecoin Arbitrage on Jupiter

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.

What is Jupiter?

Jupiter is a key liquidity aggregator for Solana, offering the widest range of tokens and best route discovery between any token pair. They aim to provide the most friendly UX for users and the most powerful tools for developers to allow them to easily access the best-in-class swap in their application, interface or on-chain programs.

What Dexs does Jupter pull from?

Serum
Saber
Mercurial
Raydium
Orca
Lifinity
Crema
Aldrin
Cropper
Step
Penguin
Saros
Sencha

What is Arbitrage

Arbitrage is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded.

Jupiter Stablecoin Arbitrage Metrics

The graph above shows the daily profit made by users swapping usdc and usdt to earn arbitrage. The graph shows that there has been 4 periods of time since mid december that Abritragers profits spike a ton.

The graph above shows the total number of Arbitrage swappers on Jupiter and their number of profitable transactions each day. The graph shows that each day between 5 and 30 degrees make profitable Arbitrage transactions and they make between 50 and 400 profitable transactions each day.