Arbitrage and Trading Opportunities Screener

1. What the board shows

For every Ethereum liquid-staking token (LST), the board answers three questions in one row — in the order you'll use them:

• How to enter cheaper — buy the LST on a DEX, or mint it via the protocol?
• How to exit cheaper — sell it on a DEX, or redeem it via the protocol for ETH?
• Is there an arbitrage — when the LST trades below the ETH value it redeems for, that discount, annualized, as an APY.

Every figure is denominated in ETH, never USD. Pricing in ETH removes ETH's own volatility from the result, leaving the pure ETH-denominated delta between buying an LST and redeeming it. Fair value is read live from each protocol's own contract; nothing here comes from a third-party price feed.

2. Enter — the cheaper way in

To enter a position you can buy the LST on the open market, or mint it by staking ETH through the protocol. The board quotes both at a standard notional and marks the winner:

• BUY — a DEX aggregator quote (slippage and routing included) gives more LST per ETH than minting does.
• MINT — staking via the protocol beats the market. The rarer case, and the one worth catching: usually a depeg or a liquidity gap.

A DEX buy wins on entry the large majority of the time, so this column is usually BUY. The value is the confirmation, and the occasional flip to MINT.

3. Exit — the cheaper way out

To exit you can sell on the market, or redeem through the protocol for ETH. The board compares them:

• REDEEM — the protocol returns more ETH than selling on a DEX would, over its redeem window. A real discount to capture — if you're willing to wait out the withdrawal.
• SELL — the market pays above the ETH redemption value, so selling beats redeeming and skips the withdrawal queue entirely.

This side flips regularly, and the redeem window matters as much as the discount — a queue of several days is a very different trade from an instant redeem.

4. The arbitrage — redemption spread as APY

When an LST trades below the ETH value it redeems for, buying it and redeeming it captures the gap. That's the arbitrage the board annualizes.

Three steps:

1. Buy S with ETH on the market. A DEX aggregator quote for a fixed size Q (default: 5 ETH) returns A — how much LST you get for Q, slippage included.
2. Redeem S via the protocol. The on-chain exchange rate (convertToAssets, getExchangeRate, or stEthPerToken, depending on the LST) gives R — the ETH value without market slippage.
3. Profit. If R > Q, the surplus is profit, in ETH.

Q = market_buy_in     # ETH spent (fixed notional)
A = lst_out           # LST received for Q
R = fair_redeem_out   # ETH the protocol returns for A

spread = R / Q − 1
APY    = spread × 365 / max(redeem_days, FLOOR_DAYS)

• redeem_days — time to receive ETH: ~minutes (instant), ~1 day, or a multi-day validator withdrawal queue. For ranged queues the maximum is used, so the APY is the conservative minimum.
• Instant redemption. If redeem_days = 0, the APY uses 1 hour (FLOOR_DAYS = 0.0417) so the annualization doesn't divide by zero. Such rows are flagged instant and their APY is a deliberately conservative lower bound.
• Rows with no discount (spread ≤ 0) are dimmed as "low-opp" and can be hidden with a toggle.

Worked example. Pair osETH / ETH, 5 ETH quote, redemption ~instant:

spread = 5.036598 / 5.0000 − 1 = 0.00732   → 0.732 %
APY    = 0.00732 × 365 / 0.0417 = 64.07    → ≈ 6407 %

Buying osETH for 5 ETH and redeeming returns ≈ 5.0366 ETH — a 0.73% discount to NAV, ≈ 6407% annualized (gross) at the 1-hour instant floor. Instant-redeem APYs read high by construction; treat them as a lower-bound signal, not a promise.

5. Reading the columns

Markets span Ethereum, Base, Optimism, and Monad; use the chain chips and the min-spread slider to filter.

6. Pro

The board is free to read: every spread, APY, and the Enter/Exit direction (BUY / MINT, SELL / REDEEM). Pro turns the direction into an action:

• Enter / Exit magnitude — exactly how much each door wins by.
• Quote at your size — enter, exit and buy & redeem priced at your own position size, with real slippage rather than a fixed notional. Because DEX slippage is nonlinear, the cheaper door can flip at your size.
• Direct mint / redeem links on the winning side.
• Telegram alerts — a threshold alert when a spread crosses your APY line, and a flip alert when the cheaper exit changes REDEEM ↔ SELL.

7. A living, growing list — request a token

The tracked set is not fixed. We add LSTs and keep the existing ones current — refreshing exchange-rate methods, redemption windows, contract addresses, and connector logic as protocols launch, migrate, or change their mechanics. Coverage grows most weeks and on request.

You can request a token. If an ETH LST you follow isn't listed, tell us and we'll add it once it fits the model — it exposes an on-chain redemption value (a convertToAssets, getExchangeRate, or equivalent method, or another documented path) and has enough liquidity to quote. Reach us on X @ArbScreenerDeFi or at arbscreenerdefi@gmail.com.

8. Risks & disclaimer (NFA)

Read-only. ArbScreener never signs, routes, or custodies funds — it reads on-chain values and shows the spread; every action stays with you.

APY is a gross estimate. Gas is not accounted for; NAV can move during the redemption window, and a withdrawal queue can extend under load; LSTs carry validator, slashing, and smart-contract risk that a spread number cannot capture. The numbers answer "is this worth digging into," not "here's your exact net yield."

This is Not Financial Advice (NFA).

Arbitrage and Trading Opportunities Screener is provided "as is", for informational and educational purposes only. The app does not provide investment, financial, legal, or tax advice and is not an offer, solicitation, or recommendation to buy, sell, or hold any asset.

All metrics (spread, APY, fair value, etc.) are approximate estimates based on third-party quotes and on-chain data that may be incomplete, stale, or wrong. The gross calculation does not account for gas, bridge fees, slippage beyond the quote, NAV changes, withdrawal-queue delays, validator or slashing risk, smart-contract risk, or depeg risk. Past or projected returns do not guarantee future results.

Contract addresses and protocol parameters must be verified independently before any action; some addresses in the config are marked as needing re-verification. A wrong address can lead to loss of funds.

You use the app and its results at your own risk and are solely responsible for your own decisions and actions. The authors and contributors accept no liability for any direct or indirect losses, lost profits, or other damages arising from use of the app. Interacting with DeFi protocols carries high risk, up to and including total loss of funds.

Before taking any action, do your own research (DYOR) and, if needed, consult an independent licensed professional.