This trader has made a profit of $40000, with the capital investment of $45000. This too is achieved using the stablecoins USDT and USDC. In between the trader has borrowed $40500 and with the swapping between exchanges has netted the profit of $40000 after paying a transaction fees of $2000. In simple the process involved in the trade is being depicted in a flowchart.
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coindeskEven though it's remarkable, impressive and even a bit enviable, it's a process that I'm sure took months to perfect, and if you look closely, it's very much arbitraging, or as Morty says "it looks like arbitraging with extra steps", in my opinion, to find arbitrage oportunities this big and to get all pieces to fall into place there is a certain amount of leg work behind that we just won't know until we actually dig into doing it.