The arbitrage opportunity on HL (HyperLiquid) has significantly diminished, with the poster ceasing operations due to increased competition and reduced profitability after generating $5M profit and $12.5B volume over 8 months. Investors should note that this specific arbitrage strategy is no longer considered "juicy" and the team is taking a break, indicating the window for similar high-profit, low-competition plays on HL may be closed for now. The team is hoping for a "Season 3" of HL and "Season 1" of Unit, which could signal future opportunities if those platforms launch or evolve.