[{"data":1,"prerenderedAt":197},["ShallowReactive",2],{"docs:zh:\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment":3},{"id":4,"title":5,"body":6,"cover":188,"description":189,"extension":190,"meta":191,"navigation":192,"path":193,"seo":194,"stem":195,"__hash__":196},"docs\u002Fzh\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment.md","再平衡",{"type":7,"value":8,"toc":179},"minimark",[9,12,21,25,28,38,50,53,61,64,67,73,153,159,170,173,176],[10,11,5],"h1",{"id":5},[13,14,15,16,20],"p",{},"对决有三个池子：A\u002FETH、B\u002FETH 和 A\u002FB。交易后，价格可能出现偏差。每笔交易之后，钩子在同一笔交易中",[17,18,19],"strong",{},"尝试","执行盈利的再平衡。再平衡可能跳过或受可用 ETH 限制；无法保证价格完全一致。",[22,23,24],"h2",{"id":24},"运作方式",[13,26,27],{},"当价格偏差使三角循环在计算规模前具备超过 0.1% 的盈利优势时，钩子可以零手续费绕三角交易。这是循环的盈利门槛，并不保证任意两个池子的价格偏差始终在 0.1% 以内：",[29,30,31,35],"ul",{},[32,33,34],"li",{},"如果与 A\u002FB 池相比，A 以 ETH 计变贵了，钩子就用 ETH 买入 B，在 A\u002FB 池中把它换成 A，再把这些 A 卖成 ETH；",[32,36,37],{},"如果是 B 变贵了，就反过来操作。",[13,39,40,41,44,45,49],{},"公式计算盈利循环的规模，再按卖出代币所进入的 ETH 池可支付的数量限制规模。只有盈利的循环会保留。",[17,42,43],{},"捕获的利润进入回合奖池。"," 失败的尝试会回滚并跳过，不阻止用户兑换；但若因 gas 不足而失败，兑换本身会以 ",[46,47,48],"code",{},"ArbitrageStarved"," 回滚，因此无法靠少给 gas 跳过再平衡。受限或跳过的循环可能留下价格偏差。",[22,51,52],{"id":52},"对占比的意义",[13,54,55,60],{},[56,57,59],"a",{"href":58},"\u002Fdocs\u002Fduel\u002Fconcepts\u002Fsplit","占比","和回合只读取两个 ETH 池。A\u002FB 价格从不直接计入。经由 A\u002FB 的切换只有在再平衡实际交易 ETH 池时才会影响它们。若 ETH 价格没有变化，切换不会改变占比或回合平均值，也不会激活原本没有活动的回合。",[22,62,63],{"id":63},"对交易者的意义",[13,65,66],{},"A\u002FB 池持有每个阵营的一部分。当一方上涨后执行再平衡时，它可能将该阵营的一部分卖入 ETH 池，并买入另一阵营的一部分。可能出现以下三种效果：",[13,68,69,72],{},[17,70,71],{},"买入效果可能立即被部分抵消。"," 执行再平衡时，可能卖出部分已买入阵营的代币，并把捕获的 ETH 利润送入奖池。因此，立即买入再卖出的成本可能超过兑换手续费。以下内部示例测量值均采用默认条款，分别来自一场新对决，以及一方阵营占比 97% 的对决（该阵营买入 10 ETH，另一方没有买入）；成本随池子状态变化，并非固定费率：",[74,75,76,95],"table",{},[77,78,79],"thead",{},[80,81,82,86,89,92],"tr",{},[83,84,85],"th",{},"买入后立即卖出",[83,87,88],{},"刚发射的对决",[83,90,91],{},"97\u002F3，领先阵营",[83,93,94],{},"97\u002F3，落后阵营",[96,97,98,112,126,139],"tbody",{},[80,99,100,104,107,110],{},[101,102,103],"td",{},"0.1 ETH",[101,105,106],{},"约 4%",[101,108,109],{},"约 2%",[101,111,106],{},[80,113,114,117,120,123],{},[101,115,116],{},"1 ETH",[101,118,119],{},"约 5%",[101,121,122],{},"约 3%",[101,124,125],{},"约 12%",[80,127,128,131,134,136],{},[101,129,130],{},"5 ETH",[101,132,133],{},"约 10%",[101,135,106],{},[101,137,138],{},"约 32%",[80,140,141,144,147,150],{},[101,142,143],{},"20 ETH",[101,145,146],{},"约 22%",[101,148,149],{},"约 7%",[101,151,152],{},"约 61%",[13,154,155,158],{},[17,156,157],{},"落后阵营一次性大额买入成本最高。"," 领先阵营上涨期间，再平衡把落后阵营的代币存进了 A\u002FB 池。买入落后阵营时，这部分存量会被卖进这笔买入：单笔买入越大，流入奖池的部分越多。总额相同时，分成几笔较小的买入（每笔之后各自再平衡）比一次性大额买入成本更低。",[13,160,161,164,165,169],{},[17,162,163],{},"执行再平衡时，两个阵营相互关联。"," 买入一方也可能拉升另一方，因此逆转的成本可能高于 ETH 差距所暗示的金额。再平衡受限或跳过时，结果可能不同。参见",[56,166,168],{"href":167},"\u002Fdocs\u002Fduel\u002Fconcepts\u002Fsplit#%E9%A2%86%E5%85%88%E8%80%85%E6%9C%89%E4%BC%98%E5%8A%BF%E4%BD%86%E4%B8%8D%E6%98%AF%E5%AE%9A%E5%B1%80","领先者有优势，但不是定局","。",[13,171,172],{},"默认情况下，A\u002FB 池以每方供应量的 2% 启动，这是合约允许的最低比例，用于减轻这种关联。更高的初始比例会增强关联；实际影响取决于池子状态和交易规模。",[22,174,175],{"id":175},"为什么在钩子中完成",[13,177,178],{},"盈利的再平衡会尝试缩小偏差，并把捕获的利润送入奖池。它会减少套利机会，但不会消除套利：循环可能受限、跳过，或留下残余偏差。",{"title":180,"searchDepth":181,"depth":182,"links":183},"",2,3,[184,185,186,187],{"id":24,"depth":181,"text":24},{"id":52,"depth":181,"text":52},{"id":63,"depth":181,"text":63},{"id":175,"depth":181,"text":175},null,"每笔交易后，Duel 的钩子会尝试在对决的三个池子间做零手续费循环，让价格再平衡。利润进入奖池。并说明交易者为此付出的成本。","md",{},true,"\u002Fzh\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment",{"title":5,"description":189},"zh\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment","ZFMCnF4kF9Sk-b4u5_SKmVKsetaB6nRnqMd9PiCXsKw",1791231655350]