Recently, I have been researching the arbitrage mechanism based on fee rate differences between mainstream DEX platforms and discovered an interesting operational idea.

The core logic is simple: there is a mismatch in the settlement cycles and ranges of fee rates across different DEXs. Some liquidity protocols settle every 8 hours, while others settle hourly. This time difference creates an opportunity. If you open a short position on a high-fee platform and simultaneously open a long position on a low-fee platform, although the hedge offsets the gains, the difference in settlement mechanisms allows you to earn fee rate profits during the interaction. This fee rate difference can cover trading slippage and wear and tear.

The night before last, I tested an example: holding BTC positions on two platforms simultaneously, with one side's fee rate at 3U and the other as high as 40U. During the overnight holding period, due to asynchronous settlement cycles, cross-platform hedging experienced delays and slight price differences, but these wear costs were offset by the fee rate gains. From practical operations, ETH is also very suitable for this strategy, especially since a certain DEX recently launched an ETH trading pair.

However, this approach requires real-time monitoring. Fee rates fluctuate dynamically, and the rates on the two platforms can reverse at any time, so it cannot be static. I observed that for a period, the ETH fee rate difference between the two platforms reached nearly 1000 times. Although such extreme cases are short-lived, they clearly demonstrate that opportunities do exist.

In summary: factors like depth and token issuance should also be considered, but mainly, the focus is on hedging with mainstream DEXs that do not issue tokens. If you are interested, you can interactively observe on both platforms. Ultimately, costs determine gross profit margins; interactions without costs are the purest form of profit.