Penelitian mendalam tentang dagangan AI, analisis pasaran, dan masa depan DeFi.
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Every leveraged position advertises the price at which it must be sold. How to build the on-chain liquidation depth chart and the CEX liquidation heatmap, model cascade dynamics as a reproduction number, and trade forced flow as a signal instead of only fearing it as a risk.
An active v3 LP is running a market-making book with gas costs and no cancel button. Size ranges from a GARCH vol forecast, frame rebalancing as fee-gain vs realized-cost, derive the position delta from tick math and hedge it with perps, and understand JIT liquidity and the honest pitfalls of backtesting LP from on-chain data.
MEV stopped being a lone bot and became an assembly line: searcher, builder, relay, proposer. A technical walk through proposer-builder separation, MEV-Boost's sealed-bid block auction, why the searcher's margin gets bid away, order-flow auctions as the new moat, and how Solana's Jito model differs.
Mencari kitaran arbitraj dalam rantaian adalah separuh yang mudah. Separuh yang sukar adalah memenangi lelongan keutamaan bida tertutup menentang setiap pencari lain yang menemui kitaran yang sama. Pecahan teknikal atomicity, pinjaman kilat, backrunning, dan di mana keuntungan arb sebenarnya bertahan — termasuk CEX-DEX bukan atom.
Impermanent loss, leverage kecairan tertumpu, dan loss-versus-rebalancing yang diperoleh daripada prinsip pertama. Bentuk tertutup, hasil σ²/8, markout per-blok, dan syarat yuran-berbanding-volatiliti yang tepat di mana LP sebenarnya mengalahkan pegangan.
Almgren-Chriss dan VWAP hanya menetapkan bajet slice — eksekusi dimenangi pada lapisan taktik. Timer eskalasi, matematik break-even maker-taker, semantik queue amend vs cancel-replace di Binance/OKX/CME, anti-signaling iceberg, dan state machine Python per-slice.
Ganti slippage bps tetap dengan lengkung kos yang bergantung pada saiz, volatiliti dan kecairan: hukum punca kuasa dua, pemasangan lengkung daripada fill TCA atau data awam, pengganda tekanan rejim, dan sebab papan pendahulu strategi anda tersusun semula.