Recently, I’ve been looking at various “arbitrage opportunities” on-chain. To put it bluntly, a lot of the time what you’re seeing is the moment you’re turned into someone else’s signal source—essentially you’re giving them the trigger they want. “Sandwiching” is pretty much like charging tolls: the instant you place your order, you’ve already become someone else’s signal source, especially in pools with thinner liquidity. And once slippage is allowed to widen a bit more, it basically amounts to you raising your hand and saying, “Come on in.”

These past couple of days, before and after the upgrade/maintenance of that mainstream public chain, people in the group have been wondering whether projects will migrate. I don’t think you should get too excited about whether they migrate or not. First, see whether the migration expectations will flood the network with trades and make MEV even more ruthless… the more you rush to be “ahead,” the easier you become fuel.

Next time, I might just be more sensible: split into smaller amounts, even if it means taking a little less profit, just to clamp slippage down. Or simply wait until the volatility passes before taking action. How do you usually judge whether a given “arbitrage” is truly an opportunity—or just money you’re handing over to someone else?