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    Solana-40.Stablecoin Arbitrage on Jupiter - Arbitrage Gains

    Q40. Because Jupiter is a dex aggregator, there are naturally opportunities where one could take advantage of liquidity pairs across the ecosystem to create arbitrage. Since February 1st, what percentage of all swaps (with a size of at least $100) where a wallet starts the transaction with USDC or USDT and ends the transaction with either USDC or USDT have resulted in at least a 1% gain? - Are there any patterns behind the most common sources of arbitrage on Jupiter? List the top 10 wallets in terms of total arbitrage gains and provide insight over their strategy.

    Arbitrage Greater than 1% vs Less than 1%

    • Majority of the swaps are with arbitrage < 1% as expected.
    • The highest number of greater than 1% swaps was on Feb 24, 2022, where we saw 99 swaps greater than 1%
    • However, comparing overall percentage, the highest was 7.7% of swaps has arbitrage > 1% on Feb 03, 2022.
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    Are there any patterns behind the most common sources of arbitrage on Jupiter?

    • There isn't any pattern but USDT -->USDC and USDC-->USDT account for almost equal number of swaps.
    • On some days USDT -->USDC account for 100% of the swap while USDC-->USDT accounts for the 100% on the other days.
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    List the top 10 wallets in terms of total arbitrage gains and provide insight over their strategy.

    • ERHftzRTWdeeXBtD23XZxMpjzD3PyUyri9aNoGRsbczK is the wallet with the highest gains totalling 1880%
    • DTTmgcTL4mbfoQB891Gruz4MefPRcdaQJJexgd8ZCf2g is the wallet with the second highest gains totalling 1240%
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