$43m Total MEV from Luna/ UST Collapse on Solana
I calculate the total arbitrage in the past 7 days following UST/LUNA collapse.
Here is what I found:
total arbitrage profit: $2,743,624.75
total liquidation volume $29,393,311.42
total liquidation profit $1,469,665.57
Let’s start with Arbitrage
total liquidation profit past 7 days $1,469,665.57
In comparison, the total Arbitrage profit last 60 days is only $2,155,913.25, excluding past 7 days
The chart below show arbitrage activity past 60 days
Top Bots
Arbitrage profit made by top 3 bots:
🥇 $428,268
🥈 $283,624
🥉 $237,572
% of profit
The top 10 bots account for 58% of the profit
Example of Top Transactions
The 3 largest profits from a single transaction made:
$45,067.35
$39,324.83
$12,570.92
Liquidation
Assuming UST = 0.5
total liquidation volume $29,393,311.42
total liquidation profit $1,469,665.57
Assuming UST = 1
total liquidation volume $40,514,596.20
total liquidation profit $2,025,729.81
From here on we will assume UST = 0.5
Below are liquidation activity past 60 days
Top Liquidation Bots
Liquidation volume made by top 3 bots:
🥇 $9,271,552.70
🥈 $4,339,578.84
🥉 $3,966,041.33
Liquidation profit made by top 3 bots:
🥇 $463,577.64
🥈 $216,978.94
🥉 $198,302.07
% of profit
The top 5 bots account for 82% of the profit
Example of Top Transactions
The 3 largest SOL liquidation from a single tx made:
🥇 2,570.43 SOL
🥈 2,343.50 SOL
🥉 2,157.86 SOL
Top Liquidation Volume by Date
05-11 $12,044,582.67
05-09 $7,005,140.29
05-10 $6,365,361.11
05-12 $3,117,270.64
Top Liquidation Assets
Top Liquidated Assets: Ust, Sol, msol, btc, and stSol
Note:
Arbitrage:
Here only includes atomic arbitrage and doesn't include stat arb, cross-chain arb, etc
Liquidation:
Here only includes liquidation on Solend. The other protocols have a much smaller liquidation volume, except Mango and Larix, which had a bug.
Some liquidators also got rekt decent amount because they liquidated UST, sold UST in different transactions, and got rekt from Slippage, so the profit might be a little off.
Good MEV resources:
Good Intro to arbitrage: https://github.com/ccyanxyz/uniswap-arbitrage-analysis… Sandwich bot: https://github.com/libevm/subway
CFMM Router: https://github.com/bcc-research/CFMMRouter.jl…
MEV Discord: https://discord.com/invite/MHSrHWxkBK