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I've followed some flash loan samples and explored scripts that scan common token pairs for arb opportunities across UNISWAP/KYBER and so far I haven't even seen any arb opportunities arise.

has all the the juice been taken out by bots already?

Is it something about the exchange pair I'm looking at?

┌─────────┬──────────────┬───────────────────┬────────────────────┬───────────────────┬────────────────────┬────────────────────┬────────────────────┬────────────────────┬──────┐
│ (index) │     pair     │        IN         │      DBG_EX2       │      DBG_EX1      │      OUT_EX21      │      OUT_EX12      │       %_EX21       │       %_EX12       │ ARB? │
├─────────┼──────────────┼───────────────────┼────────────────────┼───────────────────┼────────────────────┼────────────────────┼────────────────────┼────────────────────┼──────┤
│    0    │  'DAI,WETH'  │ 21900.5998515312  │  9.92531705817979  │ 9.938056180032358 │ 21734.324359125676 │ 21773.532331738043 │ 0.9924077197185127 │ 0.9941979890663007 │  ''  │
│    1    │ 'SUSHI,WETH' │ 2906.384548972388 │  9.70602964809549  │ 9.919768956264214 │ 2820.595211013017  │ 2803.756188464447  │ 0.9704824545706783 │ 0.9646886505282903 │  ''  │
│    2    │  'WETH,DAI'  │        10         │ 21909.172079063217 │ 21897.84116076249 │ 9.941946086216607  │ 9.924067507388731  │ 0.9941946086216606 │ 0.9924067507388731 │  ''  │
│    3    │ 'WETH,SUSHI' │        10         │ 2825.8514939193938 │ 2906.011508496345 │ 9.644965370736337  │ 9.704815771331255  │ 0.9644965370736337 │ 0.9704815771331254 │  ''  │
└─────────┴──────────────┴───────────────────┴────────────────────┴───────────────────┴────────────────────┴────────────────────┴────────────────────┴────────────────────┴──────┘
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  • as a trader you should know that profitability is directly dependent on volatility. When charts are flat you won't make any money
    – Nulik
    Jul 4, 2021 at 3:08

1 Answer 1

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DEX arbitrage is getting quite old and many (many) people are doing it. We see post on that subject here almost daily.

By their nature, DEX AMM always generate some arbitrage opportunities. On Ethereum, most of them are captured through flashbots transactions, where most of the profit goes to the miner and not even the arbitrageur.

My answer in regard of DEX arbitrage would be that no, there are no good opportunity left, at least on the big networks like Ethereum or BSC.

EDIT: Your question may be about "manual" arbitrage instead of bot arbitrage. In that case, there is definitely no opportunity. Bots capture arbitrage instantly and it has pretty much always been like that.

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  • the ones who profit most from this are bot developers
    – Nulik
    Jul 4, 2021 at 3:09

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