It's a golden age for searchers. Late enough that Flashbots and DeFi exists, but not so late that massive institutions are competing for MEV.
Even still the barrier to entry for the top strategies is getting higher very quickly. It's probably a few months of work to catch up to the best backrunning arb bots now.
It is funny to think about the early days of Flashbots when there was literally 1 market maker, 1 ESD bot, and 2 arb bots sending bundles. Unbelievably good opportunity to make money back then.
Anyway - last thing I'll say is I think there is still a lot of MEV that is going uncaptured! We might look back on today and muse about how good of an opportunity Flashbots is even now.
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