Last night, I experienced a small arbitrage failure. It was supposed to be a neutral strategy, but slippage hit me hard. Honestly, I trusted the idea that "it looks deep," and when I placed the order in a rush, I used market price to eat through several levels, causing the average transaction price to drift. Then, my legs went weak, and I started adding orders, making the rhythm more and more chaotic, and the transaction fees also started to hurt.

Looking back, there are actually two main points: First, depth isn't just the few rows of orders in the screenshot. Before acting, I should think about whether my order size will push me to the next level; Second, don't rush the order placement. Break it into smaller parts and leave some room to react. By the way, I want to complain that recently, the on-chain data tools' tagging system is sometimes really laggy, and it can even mislead you into following the trend. Now I prefer to cross-check several sources, or just treat it as a reference, not an answer.

Staring at the screen for too long makes my eyes sore and my neck stiff. It feels like I'm not trading but doing neck stretches... That's it for now. I won't chase today. I'll wait until my mind cools down before proceeding.