Every time I see on-chain trajectories like "just placed an order and got snatched away," I want to laugh: you think it's an opportunity, but most of the time it's just paying others for gas fees + transaction costs. Arbitrage is the same; those who can really profit have already calculated slippage, priority fees, and routing to death, leaving the rest of the excitement for spectators as background. Recently, the stacking of yields from staking/sharing security has been criticized as a "pyramid scheme," but I actually think it's quite similar: layered buffs on paper, but the actual risks are also layered, and in the end, who foots the bill... Those who understand, understand.