This year's crypto market is not lively. The altcoin market is generally bleak, and apart from a few on-chain trading experts, few people can continue to make money. However, in this seemingly quiet market, there are still a group of people quietly getting rich.

They are even considered "outsiders":
No faith in cryptocurrencies, not concerned about fundamentals and narratives, even less about trading emotions.

Their principle is summed up in one sentence: only arbitrage, no trading.

Recently, the articles of "Doll Sister" have gone viral. To some extent, she is also an arbitrageur, surviving on algorithms, emotions, and traffic differences.

She and the arbitrageurs in the crypto market are essentially doing the same thing: finding opportunities in the gaps of the rules and amplifying profits with execution.

In this world where speculation and innovation coexist, arbitrageurs are often more clear-headed than builders.

They see the system's vulnerabilities, misaligned incentives, delayed rules, and human greed.