キミも top atomic arb searcher になろう
https://t.co/DVrqz0JiCs
"Did you know that the top atomic arb searcher on Solana doesn’t use a custom program? They route through Jupiter’s program."
Let’s look at Solana MEV for September
-> We’ll also look at Jito bundle compositions
-> A DATASET of 1M atomic arbs is available
Did you know that the top atomic arb searcher on Solana doesn’t use a custom program? They route through Jupiter’s program. More on this in a bit.
Let's start with atomic arbitrage
Tips for atomic arbs hover at around 50% of revenue. This is significantly less competitive compared to Ethereum where you see 90-99%+ paid to the proposer.
Notice also that about half (by revenue) of atomic arbs are sent directly to validators and don’t go through Jito. These are virtually all “blind” or speculative arbs where searchers hope to land a profitable transaction that pays for all the failed ones. Most of these transactions fail but when they hit, they can avoid paying tips or significant priority fees.
Here’s the top arb for September (by CET timezone). The searcher kept 80%. You don’t really see that on Ethereum.
Here’s the 2nd most profitable atomic arb in September and it was sent directly to the validator. It was not part of a Jito bundle. If you check this searcher’s history, you’ll see many failed transactions. To determine profitability you would have to account for the sum of fees for those failed transactions.
Some searchers, like the one above, don’t use a custom program. Instead they route their arbs through Jupiter. We were a bit surprised but also impressed.
See below for average tips per (signer, program) and notice how the profitable searchers use both Jito and direct-to-validator. Many searchers also hardcode their tips. If arb on Solana becomes more competitive, we expect to see more custom programs (to allow for runtime input amount adjustments) as well as dynamic tips