Flash Loan Attacks: How bZx Was Exploited in 2020
What a flash loan is, and how two February 2020 attacks used one to push DeFi prices around, from the first academic analysis of the events.
#arbitrage
3 articles
Is the Crypto Cash-and-Carry Trade Really Risk-Free?
Futures can trade 10% a year above spot. A BIS paper explains what drives that gap and why margin calls keep arbitrageurs from closing it.
Why Crypto Arbitrage Gaps Persist
Price gaps between crypto exchanges are real but rarely free money. What the Journal of Financial Economics found and the costs that keep spreads open.