A retail trader watches three Uniswap liquidity pools on Ethereum, waiting for price divergence. A bot automatically identifies a 0.8% gap between pools, executes a buy-sell sequence, and settles within seconds. The gross profit before costs appears to be $240. After accounting for gas fees ($180 in network costs), MEV extraction ($45), and slippage ($80), the net profit collapses to negative $65. This is...
