The FlokiEnd (eng)
A story, how I earned 100 000 USDT on FLOKI.
It was the end of February 2022. The war has began in Ukraine. I had the only 3k$, which i need to buy food, pay for apartment etc.
I have been knowing about crypto for a 3 years, but I know about arbitrage the only from my friends stories.
I earned in crypto on Yobits ICO, but it was once in 3-4 month, no more.
But when you understand in 3 month you will have 0$ in your pocket, you have two options: to become a deliveryguy, or to believe in miracle.
Hello, my name is Floki!
My start in crypto was with 150$, which i sent from my bank account to Poloniex exchange (haha, is Poloniex alive?!).
This time i decided to do the same - trying to find an arbitrage on Poloniex (no, really, are u kidding me?!).
Floki was one of the small number shitcoins which i knew. So thats why i was sitting and "fapping" Floki chart trying to buy it cheaper.
Now I understand it was really absurdic. Why? Just check Floki chart on Poloniex:
Looks like a picture which was drawn in a kindergarten for armless children with cerebral palsy.
And here is order book and market trades:
Firstly, just imagine what will be if you buy/sell Floki more then 1000$ worth (answer: you will suck). Its like you were fucked by frontrun bot, but on a CEX.
Secondly, according to market trades, 30 market trades per day - is a big WIN.
As an example, Floki on Binance:
Even if you understand nothing and you have never used crypto exchanges, the last pic at least looks like something from movies about traders.
Now I would never use exchange like Poloniex. And would never try to find arbitrage there.
But then my lack of experience has helped me.
I put orders in 10-20-30-40% lower then DEX price...and SOMEWHY SOMEBODY SOMEHOW SOLD ME THIS SHIT AGAIN AND AGAIN.
Firstly i didn't understand what is happening. I just put order and in 2 minutes it was filled. As an experiment I was buying for 500 USDT. Then started putting 2-3k$ orders. But they decided to continue this charity.
I was selling it on Pancake, but then started putting orders at the same order book a little bit lower than the market was. And yes, its again. Somebody was buying it lol.
I still don't have an answer what happened. My theory: it was a bug of Poloniex trade bot.
All this happiness was being for a 2 days. Then I had two-weeks depressive timeout, when I thought that it was the first and the last arbitrage in my life.
During these 2 days i made 9500$ from 3000$. Life became easier, but i had to find something else.
Fantastic four
Then I moved to Huobi. There were not same strong dumps, but more regular. I was working every day, and I even can't call it as work. More looked like money farming.
And honestly, I even didn't ask myself why it works. It is and It is. But later I understood I must explain myself why it exists to be able to find more new opportunities.
On the official site and in all social networks they said about buy/sell fee as 4%. This is the basic situation for dogs coins (BabyDoge, Saitama etc).
But majority people didn't know that actual buy/sell fee was 3%, and they wrote about one more percent as about basic slip.
Also FLOKI didn't have transfer fee as most of dogs coins (when you must pay part of your batch just for sending).
For example, if you want to arbitrage BabyDoge, the minimum spread which you need is 21% (from dex to cex). 10% is a buy fee, 10% is a transfer fee. Too risky.
I think, partially these "scary stories" moved to FLOKI too. Bots were not set on FLOKI, because thats not enough safety to work on coins with big buy/sell fee. And people didn't touch FLOKI, because they didn't know actual slip percent.
One more important thing: when you work with coins like FLOKI, you need to understand that price was dumped not everywhere, but only on exchange where you will buy it for arbitrage.
When you buy DOGE for arbitrage, you are risking by price. When you buy FLOKI, you are risking by price plus 3% loss.
But then i didn't understand it. I just arbitraged FLOKI from dex to cex, from cex to dex.
Usually spread was 1%. The same which people couldn't see, thinking that buy/sell fee is 4% but not 3.
One more important thing
One more important thing was the general market dump. FLOKI is a coin with a big amount of big holders. These big holders understood big dump is coming and make sense to sell FLOKI by any price to buy it later in many times cheaper.
Plus FLOKI didn't have a lot of liquidity on CEX. But big holders often sell on CEX, if they don't want to show their activity.
On Huobi (and then on KuCoin) I usually did the same - put low orders and wait when it will be filled.
At the same time I have found many big FLOKI holders, who sold their coins, and i have followed them.
Usually big holders don't sell all the batch by one time. So if you noticed some coin whale who step by step is fixing his position, follow his wallet and try to understand which patterns of wallet behavior says to you that whale will sell (to be able to buy coin the first).
Funny thing that in the beginning I used the BSC only. And made 82 pages of transactions on bscscan.
I was afraid to use eth chain because of big withdraw and gas fees. But when I earned the first "big money" I moved to eth and understood what a greedy fool i was.
On the eth FLOKI was less competitors , because people in general didn't consider this coin as something interesting for arbitraging, and also on eth you are risking by more fees.
On eth chain i made 89 pages of transactions on ethscan, but I earned a much more than on bsc. At the moments of big movings somewhy people didn't pay attention on FLOKI, and spread could be 5-10%.
It's difficult to count the exact amount how much I earned. But rough count next:
1 page on eth/bscscan = 10 swaps
we have 171 pages (89+82) = 1710 swaps
usually I bought FLOKI for 5000 USDT and had 1% spread = 50 usdt
i didn't have big loss on FLOKI, but I had bigger profits, so lets plus 20% to general amount
as a result: 1710x50=85 500, then +20%
and...i earned about 102 600 or just hundred thousand fuckin bucks
R.I.P
"Charity" couldn't be forever. Once they began speaking about listing on Binance.
Plus FLOKI decreased buy/sell fee to 0.3% (instead of official 4%), and it was like a hook for arbitrators.
One more plus: now I understand if project is removing/decreasing buy/sell fee, it can be a signal about tier1 exchange listing. Binance doesn't like non-understandable buy/sell fees, and probably fee decreasing was one of the listing requirements.
I have understood it will kill the arbitrage which has been being for a one year, so I decided to believe in listing and to get benefits for myself.
I spent 1500 USDT to buy FLOKI at price 0.0000082$ (about 200 m FLOKI).
Its also important: the most comfortable arbitrage - when you have the both coins (shitcoin+stable). Then you risk nothing and you can catch spreads at the moments without waiting deposit/withdrawal.
Also it was like 'thank you' to coin which showed me what is arbitrage.
And then it has begun. OKX listing, Musks tweets, Binance US listing, Binance listing.
All these events gave me a lot of opportunities to earn money. My 1500 USDT in the high became 12 000 USDT (in Floki), and it was really comfortable to arbitrage by this amount. But then binance coins lovers bots came.
And thats all. We say goodbye to each other. The FlokiEnd.
Screen it: 2024-2025, FLOKI > SHIB
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