<ul class="news-points"><li>A crypto trader recently capitalized on an XRP arbitrage opportunity that offered a 45% discount.</li><li>There was a 45% difference between XRP/USD and XRP/USDT pairs for less than 20 mins.</li><li>By materializing the price discrepancy on Bybit, the trader managed to net seven figures.</li></ul>A crypto trader who goes by DeFiSquared on X (formerly Twitter) recently materialized on an arbitrage opportunity that occurred on Bybit. The arbitrage reportedly allowed the crypto trader to net as much as seven figures through multiple crypto trades on the exchange.<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet">For anyone curious, the arb today was between the XRPUSD and XRPUSDT contracts on Bybit. A 45% discount occurred that closed after 10-20 minutes. Most likely, algo market makers ran out of spot XRP needed for the coin margined contract amidst the large liquidations that occurred <a href="https://t.co/58RI9y1IHs" rel="noopener noreferrer nofollow">https://t.co/58RI9y1IHs</a><a href="https://t.co/CpEiPFwAPQ" rel="noopener noreferrer nofollow">pic.twitter.com/CpEiPFwAPQ</a>— DeFi^2 (@DefiSquared) <a href="https://twitter.com/DefiSquared/status/1692367864164938229?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 18, 2023</a></blockquote></div></figure>DeFiSquared took to Twitter earlier today to share his seven-figure trade. According to the trader, the arbitrage opportunity presented itself after an obscure derivatives de-peg occurred between coin margin and Tether USD (USDT) on Bybit. There was a mismatch …The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/crypto-trader-prints-7-figures-with-xrp-arbitrage-on-bybit/">Crypto Trader Prints 7 Figures With XRP Arbitrage On Bybit</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Crypto Trader Prints 7 Figures With XRP Arbitrage On Bybit

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