I used to get excited when I saw large on-chain orders with slippage, thinking "Hey, this is just an opportunity," now I mostly suspect I'm just working for others... Like a sandwich order, where you see the price being squeezed by the naked eye, you rush in to chase, only to find out that the profits might be going to the other side's bots and miners' fees, you're just providing liquidity (in other words, getting eaten).

Arbitrage is the same, I used to think that finding price differences meant easy money, now after considering delay, gas, and routing, I realize the only thing left to earn is crumbs, and I have to bear the risk of a reverse fluctuation. Recently, during airdrop season, the task platforms are again cracking down on "female witches," and the points system has turned the arbitrageurs into work-like laborers. I really don't want to go on chain naked for a few points anymore.

I'm now more honest: when I see abnormal trades, I wait for a candle to confirm before chasing; if the funding rate is too outrageous, I reduce my position, better to miss out than get squeezed. Staying up all night on night shifts, the worst thing isn't missing opportunities, but mistaking opportunities for real opportunities.