RT Haris Ebrat (@HarisEbrat)henlo Sonic frens and loopadoorrrs!@Main_St_Finance launched on Sonic a few days ago and smsUSD already got weaponized on @SiloFinance by Internbefore I get into the degen stuff its worth giving a brief run down on Main St since they're the newest addition to Sonic protocols doing something actually innovative.🔷they basically run institutional grade options trading strategies that generate delta-neutral yields, WAT MEEN, they're aiming for making money regardless of market direct ...

In emerging markets, stablecoins are the new dollars.Explore the booming underground dollar economy👇Khurshed Murtazaqulov (@MKhurshed08):1/ The Underground Dollar Boom: Stablecoin Arbitrage in Emerging MarketsKey takeaways from my latest @MessariCrypto Pro reportStablecoins are growing fast in emerging markets.One of the biggest untold stories? Arbitrage.Here’s why that matters (and why it’s not bad for https://t.co/a6ghMI6Lus ...

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - The report presents cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for non - ferrous metals (copper, zinc, aluminum, nickel, lead, and tin) on August 5, 2025, including domestic and LME prices, price ratios, spreads, equilibrium price ratios, and theoretical spreads [1][4][5]. 3. Summary by Related Catalogs Cross - Market Arbitrage Tracking - **Copper**: On August 5, 2025, the domestic spot price was 78,420, the LME spot price was 9,625, with a price ratio of 8.16. The equilibrium price ratio for spot import was 8.17, with a profit of - 72.83. The domestic three - month price was 78,330, the LME three - month price was 9,678, with a price ratio of 8.08 [1]. - **Zinc**: The domestic spot price was 22,160, the LME spot price was 2,723, with a price ratio of 8.14. The equilibrium price ratio for spot import was 8.67, with a profit of - 1,454.96. The domestic three - month price was 22,250, the LME three - month price was 2,734, with a price ratio of 6.14 [1]. - **Aluminum**: The domestic spot price was 20,480, the LME spot price was 2,579, with a price ratio of 7.94. The equilibrium price ratio for spot import was 8.49, with a profit of - 1,425.36. The domestic and LME three - month prices were both 20,480 and 2,580 respectively, with a price ratio of 7.93 [1]. - **Nickel**: The domestic spot price was 119,150, the LME spot price was 14,849, with a price ratio of 8.02. The equilibrium price ratio for spot import was 8.25, with a profit of - 1,839.75 [1]. - **Lead**: The domestic spot price was 16,650, the LME spot price was 1,925, with a price ratio of 8.67. The equilibrium price ratio for spot import was 8.87, with a profit of - 367.60. The domestic three - month price was 16,760, the LME three - month price was 1,973, with a price ratio of 11.24 [3]. Cross - Period Arbitrage Tracking - **Copper**: On August 5, 2025, the spreads for the next - month, three - month, four - month, and five - month contracts relative to the spot month were - 60, - 60, - 140, and - 170 respectively, while the theoretical spreads were 494, 886, 1287, and 1688 respectively [4]. - **Zinc**: The spreads were - 35, - 40, - 45, and - 75 respectively, and the theoretical spreads were 214, 335, 455, and 576 respectively [4]. - **Aluminum**: The spreads were - 55, - 100, - 135, and - 195 respectively, and the theoretical spreads were 214, 329, 444, and 559 respectively [4]. - **Lead**: The spreads were 70, 80, 90, and 115 respectively, and the theoretical spreads were 208, 313, 417, and 522 respectively [4]. - **Nickel**: The spreads were 1160, 1260, 1400, and 1670 respectively [4]. - **Tin**: The 5 - 1 spread was - 350, and the theoretical spread was 5534 [4]. Spot - Futures Arbitrage Tracking - **Copper**: The spreads between the current - month and next - month contracts and the spot were - 5 and - 65 respectively, while the theoretical spreads were 221 and 647 respectively [4]. - **Zinc**: The spreads were 130 and 95 respectively, and the theoretical spreads were 127 and 256 respectively [4]. - **Zinc (repeated data)**: The spreads were 130 and 95 respectively, and the theoretical spreads were 130 and 245 respectively [5]. - **Lead**: The spreads were 30 and 100 respectively, and the theoretical spreads were 118 and 229 respectively [5]. Cross - Variety Arbitrage Tracking - On August 5, 2025, the cross - variety price ratios for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc were 3.52, 3.82, 4.67, 0.92, 1.22, and 0.75 respectively for the Shanghai (three - continuous) contracts and 3.52, 3.79, 4.94, 0.93, 1.30, and 0.71 respectively for the London (three - continuous) contracts [5].

Product Offering - Smart Arbitrage Bot enables pro-level arbitrage from home [1] - The bot is accessible on desktop or phone [1] Marketing Message - Encourages users to avoid "newbie" trading strategies [1] - Promotes easy access to arbitrage opportunities [1]

Market Dynamics - When DATs (Delivery at Time) start trading at significant discounts against spot prices, arbitrageurs are expected to sell spot and buy DATs [1] - A potential scenario involves DATs lending spot against DAT shares, followed by attempts to liquidate borrowers by dumping DATs [1]

Report Industry Investment Rating - Not mentioned in the provided content Report Core View - The report presents cross - market, cross - period, and cross - variety arbitrage tracking data for non - ferrous metals including copper, zinc, aluminum, nickel, lead, and tin on August 1, 2025 [1][3][4] Summary by Directory Cross - Market Arbitrage Tracking - **Copper**: 2025/08/01, domestic spot price 78500, LME spot price 9571, spot price ratio 8.26; domestic March price 78050, LME March price 9622, March price ratio 8.14; spot import equilibrium ratio 8.19, spot import profit - 286.39, spot export profit - 294.28 [1] - **Zinc**: 2025/08/01, domestic spot price 22320, LME spot price 2762, spot price ratio 8.08; domestic March price 22365, LME March price 2769, March price ratio 6.07; spot import equilibrium ratio 8.69, spot import profit - 1680.39 [1] - **Aluminum**: 2025/08/01, domestic spot price 20590, LME spot price 2584, spot price ratio 7.96; domestic March price 20500, LME March price 2587, March price ratio 7.95; spot import equilibrium ratio 8.54, spot import profit - 1503.26 [1] - **Nickel**: 2025/08/01, domestic spot price 119050, LME spot price 14765, spot price ratio 8.06; spot import equilibrium ratio 8.27, spot import profit - 1922.67 [1] - **Lead**: 2025/08/01, domestic spot price 16625, LME spot price 1936, spot price ratio 8.61; domestic March price 16755, LME March price 1977, March price ratio 11.30; spot import equilibrium ratio 8.89, spot import profit - 525.73 [3] Cross - Period Arbitrage Tracking - **Copper**: 2025/08/01, spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 890, - 880, - 920, - 960 respectively; theoretical spreads are 497, 891, 1295, 1699 respectively [4] - **Zinc**: 2025/08/01, spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 10, 10, 25, - 10 respectively; theoretical spreads are 215, 336, 456, 577 respectively [4] - **Aluminum**: 2025/08/01, spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 165, - 175, - 220, - 270 respectively; theoretical spreads are 214, 330, 445, 561 respectively [4] - **Lead**: 2025/08/01, spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 135, - 115, - 80, - 55 respectively; theoretical spreads are 209, 315, 420, 525 respectively [4] - **Nickel**: 2025/08/01, spreads for次月 - 现货月, 三月 - 现货月, 四月 - 现货月, 五月 - 现货月 are - 1690, - 1520, - 1300, - 1100 respectively [4] - **Tin**: 2025/08/01, 5 - 1 spread is 880, theoretical spread is 5512 [4] Spot - Futures Arbitrage Tracking - **Copper**: 2025/08/01, spreads for 当月合约 - 现货, 次月合约 - 现货 are 385, - 505 respectively; theoretical spreads are 332, 637 respectively [4] - **Zinc**: 2025/08/01, spreads for 当月合约 - 现货, 次月合约 - 现货 are 35, 25 respectively; theoretical spreads are 130, 260 respectively [4] - **Lead**: 2025/08/01, spreads for 当月合约 - 现货, 次月合约 - 现货 are 245, 110 respectively; theoretical spreads are 160, 271 respectively [5] Cross - Variety Arbitrage Tracking - 2025/08/01, ratios for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, lead/zinc in Shanghai (three - continuous) are 3.49, 3.81, 4.66, 0.92, 1.22, 0.75 respectively; in London (three - continuous) are 3.48, 3.75, 4.88, 0.93, 1.30, 0.71 respectively [5]

Decentralized Exchange Innovation - Angstrom is a new decentralized exchange built on Uniswap v4, utilizing custom hooks to internalize arbitrage and prevent sandwich attacks [1] - Angstrom aims to transform DEX architecture by reordering the MEV supply chain, enhancing LP profitability, and improving execution for users [1] - The discussion covers the future of DEXs and Angstrom's potential legacy [2] Angstrom's Features and Goals - Angstrom 101 is introduced, explaining its core functionalities [2] - Angstrom's goal and next steps are discussed [2] - The impact on price discovery is analyzed [2] Ecosystem and Competition - The conversation addresses Angstrom's competition in the DEX landscape [2] - Future ecosystems related to Angstrom are explored [2] - Impacted parties are identified [2]

1. Report Industry Investment Rating - No relevant information provided 2. Core View - The report presents cross - market, cross - period, spot - futures and cross - variety arbitrage tracking data for non - ferrous metals (copper, zinc, aluminum, nickel, lead, tin) on July 29, 2025, including domestic and LME prices, price ratios, spreads and theoretical spreads, as well as import/export profitability [1][3][4] 3. Summary by Directory Cross - Market Arbitrage Tracking - **Copper**: Spot domestic price is 79080, LME price is 9746, ratio is 8.13; March domestic price is 79010, LME price is 9801, ratio is 8.07; equilibrium ratio for spot import is 8.17, profit is - 615.05; spot export profit is 161.91 [1] - **Zinc**: Spot domestic price is 22650, LME price is 2819, ratio is 8.03; March domestic price is 22650, LME price is 2821, ratio is 6.00; equilibrium ratio for spot import is 8.65, profit is - 1744.32 [1] - **Aluminum**: Spot domestic price is 20660, LME price is 2627, ratio is 7.87; March domestic price is 20590, LME price is 2628, ratio is 7.85; equilibrium ratio for spot import is 8.51, profit is - 1702.22 [1] - **Nickel**: Spot domestic price is 121200, LME price is 15012, ratio is 8.07; equilibrium ratio for spot import is 8.25, profit is - 1995.62 [1] - **Lead**: Spot domestic price is 16750, LME price is 1992, ratio is 8.42; March domestic price is 16925, LME price is 2019, ratio is 11.24; equilibrium ratio for spot import is 8.85, profit is - 843.94 [3] Cross - Period Arbitrage Tracking - **Copper**: Sub - month - spot month spread is - 170, March - spot month spread is - 160, April - spot month spread is - 210, May - spot month spread is - 230; theoretical spreads are 498, 894, 1299, 1703 respectively [4] - **Zinc**: Sub - month - spot month spread is - 200, March - spot month spread is - 195, April - spot month spread is - 205, May - spot month spread is - 250; theoretical spreads are 217, 340, 464, 587 respectively [4] - **Aluminum**: Sub - month - spot month spread is - 160, March - spot month spread is - 185, April - spot month spread is - 240, May - spot month spread is - 295; theoretical spreads are 215, 331, 447, 563 respectively [4] - **Lead**: Sub - month - spot month spread is - 10, March - spot month spread is 0, April - spot month spread is 25, May - spot month spread is 50; theoretical spreads are 210, 315, 421, 527 respectively [4] - **Nickel**: Sub - month - spot month spread is - 2590, March - spot month spread is - 2430, April - spot month spread is - 2310, May - spot month spread is - 1980 [4] - **Tin**: 5 - 1 spread is 1030, theoretical spread is 5547 [4] Spot - Futures Arbitrage Tracking - **Copper**: Current month contract - spot spread is 125, sub - month contract - spot spread is - 45; theoretical spreads are 328 and 741 respectively [4] - **Zinc**: Current month contract - spot spread is 195, sub - month contract - spot spread is - 5; theoretical spreads are 139 and 271 respectively [4] - **Lead**: Current month contract - spot spread is 175, sub - month contract - spot spread is 165; theoretical spreads are 161 and 273 respectively [5] Cross - Variety Arbitrage Tracking - **Cross - variety ratios**: Copper/zinc (Shanghai, three - continuous) is 3.49, copper/aluminum is 3.84, copper/lead is 4.67, aluminum/zinc is 0.91, aluminum/lead is 1.22, lead/zinc is 0.75; Copper/zinc (LME, three - continuous) is 3.48, copper/aluminum is 3.72, copper/lead is 4.86, aluminum/zinc is 0.93, aluminum/lead is 1.30, lead/zinc is 0.72 [5]

Any incentive system is a time, value, effort, or risk arbitrage.At steady state, the user will always seek maximum incentive at lowest cost, but most projects/protocols/etc design these systems assuming users will not engage in exploitative behavior.Understand base human behavior and you will design better incentive systems. Mismatch the rewards to the underlying arbitrage cost and your system fails quickly.Not all users value the arbitrage in the same way - it largely depends on what they have an abundanc ...

DeFi Arbitrage Opportunity - The author wants to arbitrage LP BTC and MSTR by LPing WBTC against MSTRx (or any other xStock that has tethering to a BTC treasury co) [1] - The author expects this to play out similarly to the SOL/fartcoin LP pairings that were extremely profitable and highly correlated during meme bull [1] - The author believes there are probably a lot of interesting exotic LPs to be made between tradfi vehicles or wrappers around stocks [1] Challenges and Solutions - The issue is there is like 0 volume on any of the SOL dexes w/r/t these pairings [2] - The author is unsure how to get exposure [2] - The author expects arbitrage bots operating that would allow them to execute a strat for this on raydium or meteora and they capture the difference if price deviates too much on either, but they don't see it happening yet [2] - The author asks Bybit to help or convinced Backed/xStock to get more volume on these somehow [2]