VirtualMachineError: revert: Arbitrage not profitable

[voltaxvoltax]

Hi!

I'm having the following error:

Transaction sent: 0x1c1d48dec4082b1f46b5a7b88adf3fac9105229389df25cb9f521d36217c27c3
Gas price: 0.0 gwei Gas limit: 12000000 Nonce: 6
SimpleArbitrage.makeArbitrage confirmed (Arbitrage not profitable) Block: 14762600 Gas used: 44416 (0.37%)

File "brownie/_cli/run.py", line 50, in main
args[""], method_name=args[""] or "main", _include_frame=True
File "brownie/project/scripts.py", line 103, in run
return_value = f_locals[method_name](*args, **kwargs)
File "./scripts/arbitrage.py", line 37, in main
arbitrage_tx = arbitrage.makeArbitrage({"from": account})
File "brownie/network/contract.py", line 1693, in call
return self.transact(*args)
File "brownie/network/contract.py", line 1577, in transact
allow_revert=tx["allow_revert"],
File "brownie/network/account.py", line 680, in transfer
receipt._raise_if_reverted(exc)
File "brownie/network/transaction.py", line 421, in _raise_if_reverted
source=source, revert_msg=self._revert_msg, dev_revert_msg=self._dev_revert_msg
VirtualMachineError: revert: Arbitrage not profitable
Trace step -1, program counter 689:
File "contracts/SimpleArbitrage.sol", line 38, in SimpleArbitrage.withdraw:
}

    modifier onlyOwner() {
        require(msg.sender == owner, "only owner can call this");
        _;
    }

Terminating local RPC client...

The only thing that I haven't done, it's having WETH in my wallet, could be that?

[kaymen99]

No the contract reverts with "Arbitrage not profitable" which means that the current difference in price between the 2 exchanges is less than the transaction fee So the smart contract does not excute the arbitrage

[voltaxvoltax]

Ah! Ok, need to look better at the code so I can put it running in a loop.
Good work you made here, thanks!

[christianduncan]

@aymen1001 what percentage of the time will an arbitrage opportunity actually be available? seems like with eth on these two exchanges it will always revert with "Arbitrage not profitable"

[kaymen99]

Yes ETH/DAI is a known pair to everyone so any arbitrage opportunity will not last long I think to find good arbitrage you need to check unknown tokens pairs on both exchanges or to build a bot that watches the hole market searching for those opportunities