Relative DEX arbitrage profits decline suggesting significant efficiency gains

DeFi ProtocolsFebruary 14, 2020, 6:17PM EST
UPDATED: March 14, 2022, 5:50PM EDT
Relative DEX arbitrage profits decline suggesting significant efficiency gains
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Non-custodial exchanges, commonly known as Decentralized Exchanges (DEX), represent a foundational layer of the Open Finance stack. 

As with centralized exchanges (70.30%), aggregate DEX volume is up month-on-month (32.53%) having undergone a significant decline since July 2019. January 2020 aggregate DEX volume increased by 223% versus January 2019. Despite this growth, January 2020’s aggregate DEX volume represents just 0.31% of volume seen by centralized exchanges. 

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