Someone asked me whether sandwiches and arbitrage are opportunities or just other people's fees... To be honest, most of the time when you see "opportunities," they are actually already set up by others, and if you rush in, you're just serving as bait for miners/robots. On-chain, those that slip immediately with huge slippage and a transaction price that looks like it was scratched by a cat's claw are probably not due to your shaky hands, but someone has squeezed in front of or behind you.

My current mindset is: if you can set a limit order, don’t use market orders; if you can take it slow, don’t rush; when you impulsively want to chase a narrative, just take a look at the transaction path and cool down for three seconds. Recently, comparing RWA, US bond yields, and on-chain yield products is also quite funny. On the surface, they all seem "stable," but once you go on-chain, whether it's stable or not depends on whether you will first be charged a toll fee... Anyway, I’m learning to be less like a naive leek and more cautious.