Do Liquidity Providers Lose Money to Arbitrageurs? LVR
Impermanent loss is a poor yardstick. Loss-versus-rebalancing prices what arbitrageurs take from an AMM pool, and gives the formula σ²/8 per day.
Long reads built on primary sources: peer-reviewed research, official exchange documentation and regulators. Every number has a source; quotes are checked against the original.
Impermanent loss is a poor yardstick. Loss-versus-rebalancing prices what arbitrageurs take from an AMM pool, and gives the formula σ²/8 per day.
You tested 50 variants and kept the best. White’s Reality Check shows how a p-value of 0.004 became 0.20 once the search was counted.
With zero edge a 10% target and 10% floor is a coin flip; costs and deadlines tilt it. A simulation of daily and total loss rules.
A profit target, a loss floor and a sunk fee change how people take risk. What Thaler–Johnson and Chevalier–Ellison found, and what it means for you.
Belgium’s FSMA, Italy’s Consob and the US CFTC describe how prop firm challenges work, who pays and why most traders never see a payout.
Studies of every day trader in Brazil and Taiwan: 97% of persistent traders lost money, under 1% win consistently. Numbers, limits, what to do.
A viral post says Bitcoin broke its trendline and the Coinbase premium is negative. What Osler, Lo–Mamaysky–Wang and CryptoQuant actually support.
Spoofing means orders placed with intent to cancel. The U.S. law, the $920M JPMorgan case and a 2025 crypto study. How to treat order book walls.
IMF: Bitcoin and the S&P 500 had a 0.01 correlation in 2017–19 and 0.36 in 2020–21. What changed, what it means for diversification, limits.
The blog publishes long reads about market structure, derivatives, testing trading ideas and order flow. Articles are built on primary sources: peer-reviewed papers in journals such as the Journal of Financial Economics and the Review of Financial Studies, official documentation of exchanges, and publications of regulators and recognized research institutions. We read the original, check every quotation against it and cite it at the end of the article.
We do not publish news, price predictions, sponsored reviews, rewritten forum posts or lists of "best indicators". If an article states a number, the number has a source listed at the end of the article, and you can open it yourself.
Research covers large tests: the Quasimodo pattern over a year of data, long histories on higher timeframes, regimes and coin selection. Backtesting and overfitting explains how good-looking results are produced by chance and how to protect yourself: out-of-sample checks, the number of variants tried, forward tests with criteria written in advance. Order flow looks at delta, CVD, footprint and the order book with tick data. Market structure defines swings, BOS, CHoCH, order blocks, fair value gaps and liquidity precisely. Arbitrage covers price gaps between exchanges and what it takes to capture them after fees and transfers.
Every article starts with key takeaways, so you can see the conclusion in a minute. Numbers in the text link to notes and to a list of sources at the end. We explain the method behind a finding, not just the headline number, and we say where the evidence is weak. Articles are updated when new data changes the conclusion, and the update date is shown next to the publication date.
A quotation appears only if we have read it in the original source, and it is attributed to its authors with the publication and year. Our own numbers come with the sample size and, where it matters, the error band. We prefer short, checkable claims over sweeping ones, and when a result depends on an assumption, such as the fee level, we show how it changes when the assumption changes.
The OrderBlock.net research team, the same people who build the scanner. Every article is based on primary sources, which are listed at the end.
No. They are research and education. Results on history do not guarantee future results.
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Yes, write to us on Telegram. Topics that can be checked on data are the most likely to become an article.