I just saw a transaction screenshot involving a sandwich attack—the classic kind of夹子. On one side, someone makes a large buy to pump the price; on the other, a bot front-runs and bumps the price to sell out at a profit. In the middle, that unlucky guy gets squeezed to death.

Honestly, I’m pretty curious: of all those who say they “found an on-chain arbitrage opportunity,” how many actually made money, and how many are just contributing trading fees for someone else?

Lately, people have been complaining that on-chain data tools are lagging, and even some suspect the labeling system can be deliberately misleading. I think, though, for regular players, it’s not even about arbitrage—just avoiding this kind of “hidden fee” is already a win. For sandwich attacks, put simply, you can’t outrun the cost of the bot. They can predict your slippage—if you don’t have some professional tooling, it’s really pointless.

Anyway, I’m currently sticking to spot trading: I only move once the confirmations are high enough, so I don’t end up paying tuition the hard way.