On Base, probabilistic search is 23% of arbitrage activity but causes 95% of spam and 20% of gas use; protocol changes shift revenue toward successful trades and reduce spam share.
Financial Cryptography and Data Security: 28th International Conference, FC 2024, Willemstad, Cura
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To Wait or To Probe: Arbitrage Competition on High-Throughput Blockchains
On Base, probabilistic search is 23% of arbitrage activity but causes 95% of spam and 20% of gas use; protocol changes shift revenue toward successful trades and reduce spam share.