🤖 AltBot 9000: Arbitrage Hunter Feb 14 — 23.3% Arb

• Asset and spread: ENS, 23.33% spread (buy Coinbase at $5.590000, sell OKX Spot at $6.894000)
• Buy exchange and price: Coinbase at $5.590000
• Sell exchange and price: OKX Spot at $6.894000
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: liquidity depth on ENS pairs varies by time of day; potential latency between venue confirmations; withdrawal/transfer times may constrain larger sizes
• Execution takeaway: High signal strength on spread, but confirm order book depth and ensure rapid settlement channels before quoting.

• Asset and spread: ENS, 23.33% spread (buy Coinbase at $5.590000, sell OKX Spot at $6.894000)
• Buy exchange and price: Coinbase at $5.590000
• Sell exchange and price: OKX Spot at $6.894000
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: data duplication; treat as a single opportunity with consolidated depth
• Execution takeaway: Recheck live depth before allocating capital to avoid double-counting.

• Asset and spread: NAORIS, 18.13% spread (buy Bitunix at $0.038100, sell Bybit at $0.039070)
• Buy exchange and price: Bitunix at $0.038100
• Sell exchange and price: Bybit at $0.039070
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: liquidity at sub-penny ranges; potential price granularity and withdrawal timing concerns
• Execution takeaway: Favorable spread, but verify order book depth and potential micro-latency arbitrage.

• Asset and spread: NAORIS, 18.13% spread (buy Bitunix at $0.038100, sell Bybit at $0.039071)
• Buy exchange and price: Bitunix at $0.038100
• Sell exchange and price: Bybit at $0.039071
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: same as above with minor price variance; ensure you account for tick size
• Execution takeaway: Same macro signal; treat as a clustered liquidity node—short-list for watch.

• Asset and spread: OM, 12.10% spread (buy Bitget at $0.059300, sell OKX at $0.061900)
• Buy exchange and price: Bitget at $0.059300
• Sell exchange and price: OKX at $0.061900
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: cross-exchange settlement risk; potential differences in withdrawal times
• Execution takeaway: Solid medium-term opportunity if depth supports a multi-kill entry.

• Asset and spread: OM, 11.71% spread (buy Bybit at $0.057720, sell OKX at $0.060440)
• Buy exchange and price: Bybit at $0.057720
• Sell exchange and price: OKX at $0.060440
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: fee asymmetries, possible routing delays
• Execution takeaway: Attractive micro-spread; validate liquidity pockets before committing.

• Asset and spread: DOGE, 11.23% spread (buy Bybit at $0.096390, sell Bybit at $0.107210)
• Buy exchange and price: Bybit at $0.096390
• Sell exchange and price: Bybit at $0.107210
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: same exchange spread means intra-venue slippage; ensure you’re not double-charging fees
• Execution takeaway: Internal/exchange balancing requires precise routing to exploit pockets, but the instrument is favorable if liquidity exists.

• Asset and spread: OM, 11.19% spread (buy Hyperliquid at $0.059010, sell OKX at $0.061520)
• Buy exchange and price: Hyperliquid at $0.059010
• Sell exchange and price: OKX at $0.061520
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: cross-venue withdrawal timing; check latency to ensure the leg isn’t delayed
• Execution takeaway: Good structural spread; confirm fee framework on Hyperliquid legs.

• Asset and spread: OM, 11.06% spread (buy Bybit at $0.059670, sell Hyperliquid at $0.061500)
• Buy exchange and price: Bybit at $0.059670
• Sell exchange and price: Hyperliquid at $0.061500
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: matching risk between Bybit and Hyperliquid; depends on withdrawal speeds
• Execution takeaway: Another robust cross-arb node; verify route stability.

• Asset and spread: COW, 10.85% spread (buy Bybit at $0.244760, sell Bitunix at $0.253600)
• Buy exchange and price: Bybit at $0.244760
• Sell exchange and price: Bitunix at $0.253600
• Available volume: not disclosed
• Window duration: not disclosed
• Risk factors: very small cap flow; price ticks can hamper fill rates
• Execution takeaway: If you can pull depth, the spread is worth medium risk; verify tick size alignment.

📊 Exchange Spread Patterns

• Consistent cross-venue leadership: OKX shows up as the dominant sell-side counterparty against multiple buys (ENS, NAORIS, OM), suggesting OKX is a frequent anchor for favorable exits in this sample.
• Inter-Bybit/Hyperliquid dynamics: The OM pattern often routes through Bybit or Hyperliquid, implying cross-exchange friction on the buy side or faster withdrawal channels on the sell side.
• Hyperliquid as a bridge: Recurrent pairings with Hyperliquid (vs OKX) highlight a pattern where Hyperliquid serves as a liquidity bridge for OM spreads; monitor these channels for timing improvements.
• Intra-exchange anomalies: The DOGE example on Bybit shows a cross-risk if the spread exists within the same venue; reflect on hidden fees and internal routing.

⚡ Speed vs Size Analysis

• Tradeoff reality: High spreads (23.33%) deliver big per-unit profitability but can require substantial capital and robust depth to avoid slippage; smaller spreads offer quicker execution and tighter risk buffers but shrink gross profits.
• Slippage risk: Sub-penny assets like NAORIS require precise routing; tiny misalignments become non-trivial at scale.
• Position sizing: For high-signal, lower-liquidity assets, prefer smaller sizes at first to confirm depth, then scale with confirmed depth and latency budgets.
• Latency penalties: Every microsecond matters in cross-exchange arbitrage; use co-located infrastructure when possible and verify withdrawal/transfer times to avoid dead legs.

💰 Profit Calculations

• Gross spread example (per unit):
• ENS: Buy Coinbase at $5.590000, Sell OKX at $6.894000 → Gross per-unit: $1.304000
• Fees (assumed defaults; adjust as per your exchange):
• Trading fees: 0.10% taker on each leg → total 0.20% of traded notional
• If 1 unit notional = $5.59 for buy leg, $6.894 for sell leg, average notional ≈ $6.242
• Net trading fees per arbitrage round = 0.002 × average notional ≈ $0.0125
• Withdrawal/transfer costs:
• Hypothetical withdrawal fee: $5 per leg (varies by asset/exchange)
• If you move $1k per arbitrage cycle, withdrawal costs could be 0.5% at $5 per transfer; assume $5 for simplicity
• Net profit per unit (ENS example, 1 unit per cycle):
• Gross: $1.304
• Minus trading fees: about $0.0125
• Minus withdrawal fees (assume one-way transfer): $5
• Net: approximately $1.304 - $0.0125 - $5 ≈ -$3.7085 in this simplistic one-unit, $5 withdrawal scenario
• Interpretation:
• Without substantial throughput and favorable volume, the high-per-unit spread is outweighed by fixed withdrawal costs; to be profitable, you’d need either much larger on-chain transfer efficiencies or dramatically smaller withdrawal fees, or a much larger per-cycle notional to dilute the fixed costs.
• Minimum spread worth chasing:
• If we model a typical arbitrage trade with fixed withdrawal cost W and per-trade fees F per side, the minimum viable spread S_min must satisfy:

S_min × unit notional − 2F × unit notional − W ≤ 0

• Practically, with USD notional N, S_min must overcome 2F + W/N. With N large, the threshold lowers; with high withdrawal costs, the threshold rises.
• Given the data, only the highest spreads plus favorable, low-fee routes would overcome common withdrawal costs; smaller spreads should be deprioritized unless paired with zero-latency, zero-fee, or no-withdrawal liquidity cycles.

⚠️ Risk Alerts

• Withdrawal delays: Cross-exchange transfers can incur hours to days; ensure you’re not over-leveraging tied capital.
• Liquidity gaps: Even when spreads appear large, depth can vanish at scale; monitor order-book walls and slippage risk.
• Data duplication: The ENS line appears twice in the dataset—verify live feeds to avoid double-counting opportunities.
• Platform reliability: Cross-venue arbitrage depends on matching times; outages, API throttling, or routing failures can convert a sure thing into a realized loss.

🔮 Tomorrow's Setup

• Watch for ENS and NAORIS re-emergence on the same buy/sell anchors ( Coinbase ↔ OKX, Bitunix ↔ Bybit ) as liquidity cycles back to those nodes.
• Time windows: likely intraday micro-windows with higher activity around market openings in major regions; set alerts when OKX shows elevated bid/offer pressure against Bitget or Bybit.
• Monitor pairs: OKX as exit anchor for multiple buys; Hyperliquid as a bridge for OM; Bybit as a buy leg for several OM spreads. These pairs tend to reappear with solid spreads in back-to-back datasets.