I used to always want to post stuff, but I was worried others would take up my space. Later, I realized that everyone’s execution ability is really different. For the Shanghai Silver ($沪银) and $XAG arbitrage, I mentioned it to my company around February 1st—open an account first, there might be a big arbitrage opportunity later. Then on the morning of February 6th, there was a big drop. The price gap between Shanghai Silver 2701 and $XAG narrowed to 5%. I opened 60 spread positions, went long on Shanghai Silver 2701, and shorted $XAG. When the gap rebounded to 6%, I posted a tweet, but deleted it shortly after. The day before yesterday, before the market closed, the price gap between Shanghai Silver 2701 and $XAG widened to 12%, plus a 1% funding fee. Made an 8% profit in a week—cash in for the New Year. Lost about $120K, converted it to 2.5 million RMB. I’ve never done this before, and I don’t know much about domestic futures. I even had to use AI to check how much one lot in the domestic market corresponds to shorting $XAG. I thought it was basically a sure win, but I wasn’t too familiar with the specific risk points, otherwise I wouldn’t have opened just this small amount. That said, RMB really hits differently. Tens of thousands of dollars don’t feel like much, but a few million RMB really hits you.