If back then they had split that order into a few smaller ones to move, maybe it wouldn’t have been targeted by sandwich traders and “bit into” that one. Honestly, every time I see on-chain large transactions getting squeezed in the middle, my first reaction isn’t “wow, an opportunity,” it’s “this brother is paying tuition again.” No matter how pretty the arbitrage design is, at its core it’s still moving fees—just in a different package. Lately I’ve been watching the NFT crowd argue about royalties, and it’s pretty interesting too: with lower secondary liquidity, creators make less, but farmers and arbitrage robots are busy like crazy. The logic is basically the same—you see profit, and others see your slippage. Anyway, now whenever gas is high, I get anxious; I’d rather take a couple extra steps through private routing than be the one delivering takeout.