# How to arbitrage?

Arbitration can not only bring earnings to arbitrageurs and balance pools but also help cross-chain users trade with less slippage.

**When Amount(Token) > Amount(pToken)**

Take the USDT pool on Ethereum as an example, there is an apparently larger amount of USDT than that of pUSDT, which means the USDT/pUSDT exchange rate is larger than 1.

![](https://lh5.googleusercontent.com/F1RJJlxtn1CNHsECHJ1irJTELqInTT347V475XSLSSeU_tin5wIqqTOX8k7hvdz7dJHtCRbRRs71uvhHVWIeYSGMMt11-Y3rNf9HbLBh2KL0Sa-7rIKTszHd_ww0fkWUlPJUf7scQU3zu8VkbA)

In this case, you can Peg 200 USDT to 200 pUSDT at a 1:1 ratio.

![](https://lh3.googleusercontent.com/sd-qpwIDD_2Ylr0m21_x7JEgYE375wHPelWnJEpC4E3zfACgVrUrwrQbPNgECOObgUIICxT9IOvQvucV15u0iqUPe5iNu728j7boe1HQeAQiKcu-AxPTrdG8VImekSvcOAW-QDBBsesQUWzWbw)

Then Barter these 200 pUSDT for 200.65 USDT, and your profit is 200.65 - 200 = 0.65 USDT. After this arbitration, the pool becomes more balanced.

![](https://lh6.googleusercontent.com/VzXFCNcoZzB92tn4YAn1xfHc3ROV0z2cfYGAeIcKuHd8OGr7_3dze5jnkUj7a0xi4yaMWbnf8PqybwjRFQwl7vHYN9N10_dzN0-Fc4u41ziynIF_gv2WfzK4FnOFaCOjfIcQtpnoVx8QxvCeNQ)

**When TokenAmount < pToken Amount**

Take the USDT pool on BNB Chain as an example, there is an apparently smaller amount of USDT than that of pUSDT, which means the USDT/pUSDT exchange rate is smaller than 1.

![](https://lh5.googleusercontent.com/Kb17yN3LvW3C8FQ3d_8l2afdaV-ehJ062bvCjpJx2YaBo_l-Fx9GGRR5fZjyuDfh_GTEnAS5JU6LuN3ZlAk1mI0IBy5t72jm49ojBzYyyG0YXZQ20b2yGny5QN2xuJsRy9fO6u7Yeo-BPFJ-Xw)

In this case, you can Barter 200 USDT for 200.65 pUSDT.

![](https://lh5.googleusercontent.com/-O_tzKrkKF6FCer_oKVGTz8dxMh9wLL97O27MFXATci1VyWyyX1UpIITFXw4g4wDoTkcC1VP4jv8snTOzSsZqWgYjq2o8m71tbIyMvX_OaRgEBuFEOkc9xKHmROMQhGkhh3brA58ekUXrg6iIA)

Then Unpeg these 200.65 pUSDT back to its Liquidity Entry Chain, which is Ethereum for 200.53 USDT, and your profit is 200.53 - 200 = 0.53 USDT. After this arbitration, the pool becomes more balanced.

![](https://lh6.googleusercontent.com/O1a5txAMn6iAWfKu5q878mnnKpTCu-8SZGNGiragJdM9u9RAxnBT31Gw9dZB7-yfxFupmoloUGyT0wM9umvMmtvjjfaaOOJv533TWaYQkeaRPPhcAfTyc7sCeXtSPepzupn3JXj7sM_QWu28yQ)


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