I recently set a rule for myself: when I see on-chain transactions with one-in-one-out and slippage being ridiculously inflated, I don't get excited and chase after "arbitrage opportunities" first. Most likely, what you're seeing is someone else taking a cut of your fee.

Sandwich attacks, to put it simply, you think you're picking up money, but you're actually working for the faster players...
I'm the type who complains about gas fees but still clicks confirm, and I'm most vulnerable to falling for it.
On the macro side, there's also chatter about rate cut expectations, with the US dollar index and risk assets jumping around together. When emotions heat up, I want to click recklessly even more.
So now, I prefer to go slower and run more transactions on cheaper chains, rather than becoming that educated liquidity.
For now, it's better to hold back; resisting the urge is the hardest part.