Disclaimer
What this handbook is, what it is not, and how much to trust it.
Not investment advice
Nothing in this handbook is investment, financial, trading, legal or tax advice, and nothing here is a recommendation to buy, sell or hold any asset or to run any strategy. It is educational material describing how certain on-chain trading strategies work. Decisions you make after reading it are your own, and you alone bear the consequences.
It may be wrong
The notes were researched from public sources and are dated (each page carries an “as of” line). Protocols change parameters, block builders change rules, and market figures move quickly, so any number here may be stale by the time you read it. Some claims could not be confirmed against a primary source and are marked (unverified). Worked examples use simplified models and round numbers. Treat every figure as an illustration, not a fact to trade on, and check the primary sources listed at the end of each page.
The strategies carry real risk
Arbitrage, liquidations, market making, sniping, leverage, yield and directional trading can all lose money, in some cases more than the capital committed. Most participants in the most competitive strategies lose money net of infrastructure and fees. Smart contracts can be exploited, oracles can fail, pegs can break, and exchanges can halt withdrawals. Some activities described here may be restricted or regulated where you live; you are responsible for knowing the law that applies to you.
No endorsement
Protocols, companies, venues and products are named to describe the market, not to endorse them. The authors may hold positions in assets mentioned. Reading levels (beginner, intermediate, expert) change how much of each page is shown, not how accurate it is.