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MEV Bot arbitrage $3.2 million at a cost of $2,000, or a lot of arbitrage opportunities due to the Nomad incident

August 2, 2022
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On-chain arbitrage monitoring website EigenPhi tweeted that the theft of Nomad’s cross-chain bridge is very likely to affect the on-chain price of cryptocurrencies. The biggest arbitrage opportunity occurred around 6:00 this morning. MEV Bot arbitraged $3.2 million at a cost of $2,000 in the ETH/WBTC liquidity pool of Uniswap V2/V3 on Ethereum.

The specific path is as follows: MEV Bot first exchanges about 296 WBTC for about 4,160 ETH on Uniswap V3, and then exchanges about 2193 ETH for about 296 WBTC on Uniswap V2. In addition, MEV Bot is also conducting arbitrage in Frax, WETH, FXS and other liquidity pools, with a single profit exceeding $100,000.

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