Actually, everyone understands that on-chain, what you think is a "bargain" is often the transaction fee someone else paid in advance... Last night, I was itching to chase a small hot topic, and just at the moment I confirmed the transaction, I felt pretty good. But when I checked the trade, the slippage was outrageous. Looking back at the trading record: the front and back were clearly sandwiched, like being used as a bread filling by someone.

As for arbitrage, honestly, what you see is an opportunity; what they see is your urgency. Recently, there's been talk about increased taxes and tighter compliance in certain regions, which tightens deposit and withdrawal expectations. People are more likely to get caught up in the desire to "grab a quick profit," making it easier to be sandwich-trapped. Anyway, now I prefer small amounts, slower trades, and I’d rather miss out than risk it—ice cream melts, so be it.