🐳 LookOnChain highlights an arbitrage opportunity exploited by some Ethereum (ETH) whale addresses. By leveraging the depegging between ETH and stETH, they swap 1 ETH for 1.0038 stETH on DEXs. For instance, swapping 1,370 ETH for 1,370.3351 stETH on 1INCH and then converting it back to ETH on Raido Finance (LDO) results in a profit of 0.329 ETH ($540) after gas fees. While $540 might seem minimal, repeating this annually can yield 118 ETH (around $194,000), equating to an 8.6% APY. The greater the depegging, the higher the potential profit. 💹 #ethereum #arbitrage #lookonchainanalysis