Arbitrage and Trading Opportunities Screener

1. What the board shows

For every yield-bearing stablecoin, the board answers three questions in one row — in the order you'll use them:

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

Every figure is denominated in the underlying stablecoin, never USD. Pricing in the underlying (crvUSD, DOLA, and so on) isolates the spread from the coin's own soft-peg movement — a dollar oracle would mix peg noise into the number. 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 staked token on the open market, or mint it directly from the protocol with the underlying. The board quotes both at a standard notional and marks the winner:

• BUY — a DEX aggregator quote (slippage and routing included) gives more of the token per unit of underlying than minting does.
• MINT — the protocol's on-chain mint rate beats the market. This is the rarer case, and the one worth catching: it usually means a protocol limit lifted, a depeg, or a liquidity gap.

A DEX buy wins on entry the large majority of the time, so this column is usually BUY. That's expected — 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 the underlying. The board compares them:

• REDEEM — the protocol returns more underlying than selling on a DEX would, net of the redemption fee and over its redeem window. There's a real discount to capture.
• SELL — the market pays above the redemption value, so selling beats waiting on a redeem — and you skip the redemption window entirely.

This side flips regularly. A SELL verdict is a real answer, not an empty screen: it tells you the redeem path is the worse exit right now.

4. The arbitrage — redemption spread as APY

When a token trades below the 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 U on the market. A DEX aggregator quote for a fixed size Q (default: 10,000 units of U) returns A — how much S you get for Q, slippage included.
2. Redeem S via the protocol. An eth_call convertToAssets(A) reads how much U the protocol returns for A — this is R, the fair value without market slippage.
3. Profit. If R > Q, the surplus is profit, in U.

Q = market_buy_in     # U spent (fixed notional)
A = staked_out        # S received for Q
R = fair_redeem_out   # U the protocol returns for A

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

• redeem_days — time until U is received: dynamic cooldownDuration() (Ethena), a fixed schedule (USD.AI), or a value from the asset config.
• Variable-timing redeems (avUSD, OUSD). Some protocols redeem near-instantly when their vault holds enough reserve, and otherwise queue — anywhere from minutes up to 7 days. We show one representative redeem_days so rows stay comparable; treat it as an estimate, not a guarantee.
• 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 sUSDe / USDe, Ethena cooldown = 3 days:

spread = 10 180 / 10 000 − 1 = 0.0180  → 1.80 %
APY    = 0.0180 × 365 / 3    = 2.19    → ≈ 219 %

Buying sUSDe for 10,000 USDe and redeeming after ~3 days returns ≈ 10,180 USDe — a 1.8% discount, ≈ 219% annualized (gross).

5. Reading the columns

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 yield-bearing stablecoins and keep the existing ones current — refreshing redemption parameters (cooldowns, schedules, fees), 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 a yield-bearing stablecoin you follow isn't listed, tell us and we'll add it once it fits the model — it exposes an on-chain redemption value (an ERC-4626 convertToAssets / previewRedeem 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 redeem window; the withdrawal fee can change; a quote is a snapshot; and for assets whose fair value isn't 1:1 with the token (fxSAVE, USDai) a peg assumption of ≈ $1 is used. 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, 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.