Arbitrage opportunity on VAI

VAI continue to grow in volume on BNB Chain all while keeping a very tight peg.

This is not the case on Binance the exchange where there is some significant price deviation from time to times. Recently people wants to buy VAI, and they are willing to pay the price. VAI was priced close to 2 USDT at some point.

This is a great opportunity for the Venus community, as you now, you can convert USDT to VAI 1:1 on the PSM. It is also possible to convert VAI to USDT with a 10bps fee as long as the PSM has some USDT (you can check here). Also keep in mind that you can still get a better price on Pancakeswap v3 sometimes.

We cleared the order book up to $1.00 and put an order at 0.995. We will decrease our price if community come up and put $10-20k at 0.995 or above (we also try to defend the opposite side at 1.005 and will go higher if community put liquidity).

If you have some spare VAI you can also try to put an order at 0.95 to earn more, but obviously the chance of getting executed are lower (but 0.95 was clearer twice on the last two weeks, leading to potential 10% profit in 2 weeks).

This is not without risk. Not being exhaustive here but you can make an error typing an address or numbers, not getting executed, Binance could get bankrupt while funds are there, you can spent more on gas or trading fees than profit if you don’t calibrate carefully … Do your own analysis suited for your personal risk appetite first.

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