balance keep going down , is there some sort of arbitrage that steals from LPs?
There is arbitrage between chains but it should be minimal, at least in my experience
like buying USDC at 0.998 on one chain and selling at 1.002 on another on my expense?
Impermanent loss is an actual thing when providing liquidity to any pools. Even on uniswap you'd face the same thing when adding to their liquidity pools.
IL usually happens when there is 2 currencies involved. here i just provide USDT how IL is generated?
it's probably a flaw design somewhere
It happens due to differences in values on different chains
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