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Can someone please explain how do arbitrage people make money

now?
They’re selling Luna!? But what’s the arbitrage here? I don’t get it!

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U won’t get it if u don’t have a lot of money; arbitragers have 500k plus in their wallets

T-J Автор вопроса
T J
Yeah but what do they do exactly? Can you explain?

I explained; short Luna; buy ust dirt cheap redeem on terra swap 1 for 1 sell Luna repeat;

T-J Автор вопроса
What In The Houdini
I explained; short Luna; buy ust dirt cheap redeem...

But you can’t swap 1:1 ust for Luna. The peg also lost on terraseap

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