$ROSE: Arbitrage Monitor: this monitor follows the arbitrage movements of tokens between exchanges. This monitor focuses primarily on Binance, showing all Binance outbound arbitrage as a negative figure below the zero line, representing Binance arbitraged outflow. All arbitraged inflow to Binance is represented as a positive figure above the zero line. The colour coded areas in the chart which represent the respective exchange volumes are stacked, so a positive volume will be visulaised as first filling a negative value, and vice versa. The monitor treats all token movements between exchanges within a 48hr period that move directly out of one exhcange, via single wallet address, then back onto another exchange as potential arbitrage transfers.

Arbitrage is assumed here to be in service of the price spread between exchanges. As such, a sustained arbitrage trend of outflow from Binance indicates potential local sell side pressure. Conversely sustained inflow would indicated sustained local buy side pressure. For this reason, sustained periods may be viewed with greater significance than single events. The chart's arbitrage resolution is 1hr, showing the totals of arbitrage in the hour that preceded the timestamp.

Timestamped at UTC