An arbitrage trading bot used a $200 million flash loan to conduct a series of transactions, netting a profit of merely $3.24.
An arbitrage trading bot used a $200 million flash loan to conduct a series of transactions, netting a profit of $3.24.
Flash loans facilitate uncollateralized lending, as long as the borrowed assets are repaid within the same transaction block. If the loan isn’t returned within the same block, it fails, leaving the network unchanged. Zachary Lerangis, Arkham’s head of operations, explained that these automated bots would execute any transaction that results in a profit, even if the net gain might be slim.An arbitrage opportunity presents itself when there’s a price disparity for the same asset across different markets. Traders, or in this case, a bot, can capitalize on these differences to earn a profit.
Upon completing the arbitrage loop, the bot sold the Threshold Network tokens on the Balancer exchange, generating a gain of 0.019 ETH, approximately $33. However, transaction costs and a $1 fee to an Ethereum block builder significantly eroded the net gain, reducing it to just $3.24.
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