Investing Academy
Arbitrage track · learn arbitrage one level at a time, like Duolingo
– days
– XP
–/15 lessons
⛓️ On-Chain · DeFi Arbitrage
Unit 15 · Welcome On-Chain
Wallets, gas, and two kinds of exchanges
Start
A Transaction's JourneyCEX vs DEX
AMM Pricing Intuition
Unit 16 · Arbitrage and Slippage
Where spreads come from, what they really cost
Slippage: The Hidden Cost of Size
Cross-Venue Arbitrage
Arbitrage's Real Costs
Unit 17 · Neutral Yield
Funding rates, basis trades and stablecoin discounts
Funding: The Perpetual Rubber Band
Basis and Neutral Carry
Stablecoins and Discounts
Unit 18 · MEV and Self-Defense
Sandwich defense, flash loans and the risk checklist
MEV and Sandwich Defense
Flash Loans and Atomicity
The On-Chain Risk Checklist
Unit 19 · US-Stock Arbitrage
Stock perps, ETF/ADR spreads and merger arb
Stock Perps and Funding Carry
ETF and ADR Spreads
Merger Arb: Earning Certainty
👻 Chapter Boss: MEV Phantom
「I finished lunch before your transaction even confirmed.」
🔒 Complete every lesson in this chapter to challenge
This course is for educational purposes only and is not investment advice. On-chain and derivatives trading carry extreme risk of total loss.