A recently launched decentralized finance platform, Saddle Finance, has netted one particular trader a more than 10x return on an arbitrage trade between different permutations of synthetic Bitcoin (BTC).
According to transaction data from Etherscan, a user swapped 0.34 sBTC, Synthetix’s Bitcoin-based token, in exchange for 4.36 Wrapped Bitcoin, a custodial wrapper offered by BitGo. The trade offered an almost 13x return on investment, netting $150,000 to the trader.
Continue Reading on Coin Telegraph
![Arbitrage traders make 10x returns on new DeFi platform for wrapped assets](https://d1-invdn-com.akamaized.net/content/pic64d63444ac0d732bc5316a6cb4715ad4.jpg)