Lately, I've been seeing more screenshots of that kind of "risk-free arbitrage" on the blockchain. My first reaction isn't opportunity but: am I actually standing in the middle of someone else's sandwich... To put it simply, you think you're catching the price difference, but you might actually be paying fees + slippage for MEV. Now, when I place an order, I first break down the expectations into probabilities: the chance of execution, the chance of being sandwiched, and the survival probability of the spread. If any one of these feels uncomfortable, I don't push through, even if it means earning less.

On the gaming side of the chain, inflation + studio entry tend to spiral downward quickly, which feels quite similar. The surface shows "daily income," but underneath, someone is draining liquidity. Anyway, lately I prefer testing with small positions and doing perpetual hedging. When I see network congestion, I hold back—survive first, then consider the rest.