Trader Nets $3.42 Million From Ether Gap During Binance Withdrawal Halt

A trader using Aave and Uniswap netted an estimated $3.42 million after gas costs from a brief Ether price gap that emerged during Binance’s withdrawal suspension.

The wallet deposited about $36.87 million in USDC as collateral on Aave and borrowed 11,701 ETH. It sold 12,289 ETH through trading aggregators at an average price of $2,580, then bought back 12,314 ETH at an average of $2,298 and repaid the loan about two hours after trading began. Gas costs totaled roughly $46,000, while interest over the short borrowing period was negligible.

Uniswap’s Ether price diverged from the Chainlink price feed Aave used, which tracked exchange prices. The premium reached a 27% five-minute median near its peak, then narrowed to 1% to 2% later. One Uniswap trade reached $3,487 while Chainlink showed $2,260 around the same time.

The trade functioned like a short position: the wallet sold borrowed ETH and later bought tokens back at lower prices. It required tens of millions of dollars in collateral and carried the risk of losses if Ether prices had continued rising. The profit estimate excludes several ETH outflows without matching deposits in the reviewed transaction.