toly 🇺🇸(@toly):Lmao. The spreads are worse on arb rn and the fees are higher. Arbs 10% rake from the fees alone is more bips than the sandwich rate, and that’s not even accounting for the worse spreads. By a factor of 10x from what I can tell. A single sequencer maximizing shareholder value will never beat permissionless competition

toly 🇺🇸

@toly

Co-Founder of Solana Labs. Award winning phone creator. NFA, don’t trust me, mostly technical gibberish.

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toly 🇺🇸@toly

2026.09.06 14:00

Lmao. The spreads are worse on arb rn and the fees are higher. Arbs 10% rake from the fees alone is more bips than the sandwich rate, and that’s not even accounting for the worse spreads. By a factor of 10x from what I can tell. A single sequencer maximizing shareholder value will never beat permissionless competition