pLEO to LEO Arbitrage Trading

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frens, today has been nothing but excitement. I accomplished a lot in my personal life and PolyCUB launched! This means that pLEO also launched!

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Happy PolyCUB Day!!!!

March 5, 2022 around 5pm EST, PolyCUB was born. With cut little eyes, and a full mane, our Polygon native friend was deployed into the world. Of course I was busy at the launch time, but I was able to get involved after about 15 minutes. By that I mean, about 15 minutes after the Tweet, so I dunno exactly how long it was. I immediately claimed my POLYCUB airdrop and staked in xPOLYCUB. I saw the price go from $2 to nearly $6 then bounce back down to $3.20 in just a couple hours. Pure insanity. We just passed $2.3 million in total value locked! LEO went pretty crazy with the launch as well, touching 35 cents. Which brings me to the reason I'm writing this post at the moment. I'm waiting for some orders on LeoDEX to fill. I noticed that the price of LEO on Polygon, pLEO, was around 20 cents. I decided to throw what little money I was able to in and bridge it to Hive. Then that LEO I got for 20 cents is worth roughly 32 cents on Hive because of trading arbitrage. The only reason I even noticed was I just HAD to throw some funds into that PLEO-WMATIC farm at like 2 billion % APR. Too juicy to ignore.

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So when I saw that the price difference was so steep between pLEO and LEO I figured I'd try to take advantage. If you've never done arbitrage trading, it's basically being able to get the token cheaper in one location and sell it higher in another. In this case, Polygon LEO is around 20 cents and Hive Engine LEO is around 32 cents. The easiest way to pull this off is by using the new pLEO Bridge. This allows you to deposit LEO from Hive and recent pLEO on Polygon and vice versa. I really don't see how you can lose unless you end up selling for a lower price on the other chain. Play it safe and buy pLEO then bridge to LEO to try to catch the huge price difference!

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All the orders that have 69 in them are mine. You're welcome, internet. Troll everything. I'm no professional trader, I'm just a degenerate having some good ole fashioned fun. I'm a little bit impatient, so I went ahead and traded a small portion via BeeSwap, netted roughly 50 LEO after gas fees and such. Not too shabby for a few clicks. The other half that I'm trading with is sitting in Limit orders and I'm watching the order book like a hawk. We shall see. Wanna see a picture of me actually trading? Here ya go.

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Degens gunna degen. I wish I had more liquid capital to play with but I'm playing with money earned by blogging on Hive/LeoFinance. This launch has made my day, and I'm grateful for the LeoTeam making it happen. Despite not having a lot of capital to use the platform fully, I have earned 2 POLYCUB in like an hour from the PLEO-MATIC farm so I can't really complain. I'm watching the money steady flow in. I think the marketing efforts are really paying off! The APR on the farm since I started writing this post is down to 1.8 BILLION percent! Oh no! What am I gunna do?!

Not sure how to use the bridge?

It's dumb easy. I'm not sure if this is the new version of LeoBridge or just the Polygon part of it, but it allows you to bridge from Hive Engine to Polygon and vice versa. The bridge works flawlessly and only requires 2 clicks. Bridging from Polygon to Hive Engine, enter your Hive username and then click Metamask. Then enter the amount to bridge and approve.

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After a few seconds to a minute, you will receive the LEO on Hive Engine. Then you can go sell for hopefully more than you bought for. Good luck!

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Thanks for reading! Much love.

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Posted Using LeoFinance Beta

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9 comments
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I got into the pleo-wmatic pool within 2 minutes but I didn't realize it. I ended up losing a bit of gains because I didn't stake for the first few hours.

But while I understand what arb is I don't know how to do it. I have 600pleo on polygon that I'm not using. I wrapped 1000 but only needed 400. Thus the 600.

And, I have 5,000 regular leo on hive-engine.

Not sure how to arb it.

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Ayee! Nice catch. I was too focused on getting into the platform that I forgot about things like arbitraging 😭. Some nice profit you bagged there. Good looking out.

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Explain to me a little bit and excuse me, I go from LEO to pLEO, then from pLEO again to LEO and so on and so forth?

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It will only work if the price is higher on one chain. For example, when I did this, the price of pLEO was 21cents. The price of LEO on Hive was over 30 cents. So what I did was buy pLEO for 21 cents and bridge it to LEO to sell on Hive for 31 cents. It can work in either direction as long as there's a price difference. There's also bLEO that can have arbitrage opportunity.

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Okay, now 2 questions where do you buy the pLEO? and where can you see the price of the coins pleo, bleo? in cmc and coingeko you only see the price of the wleo.

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