Two MEV Robots Net 157 $ETH from Stablecoin Arbitrage Trading

Flashbots product lead Robert Miller tweeted that two MEV bots made a net profit of 157 $ETH from stablecoin arbitrage trades. The first bot took advantage of the arbitrage opportunity created by the massive stablecoin trade, first converting 24.54 million $USDC to 22.94 million $USDT, generating about $1.5 million in slippage, and then converting $ETH to $USDC and back to $USDT in the next block, resulting in a net profit of 10 $ETH. The second bot process is approximated and ends up with a net profit of 147 $ETH.