Dormant Whale Earns $0.36 After $153M WETH Arbitrage

The headline number is less interesting than the mechanics: a dormant holder re-entered solely to borrow a nine-figure sum for a trade that barely cleared costs, which says more about how compressed arbitrage spreads have become than about this wallet's skill. It also underlines how much of large-scale crypto activity is now dominated by capital-intensive, fee-sensitive strategies where execution risk can erase the entire edge. The open question is whether such razor-thin margins push large holders toward different strategies or simply keep them sidelined.