{"id":"https://openalex.org/W7159633166","doi":"https://doi.org/10.48550/arxiv.2604.27979","title":"The Origins of MEV: Systematic Attribution of Arbitrage Opportunity Creation at Scale","display_name":"The Origins of MEV: Systematic Attribution of Arbitrage Opportunity Creation at Scale","publication_year":2026,"publication_date":"2026-04-30","ids":{"openalex":"https://openalex.org/W7159633166","doi":"https://doi.org/10.48550/arxiv.2604.27979"},"language":null,"primary_location":{"id":"doi:10.48550/arxiv.2604.27979","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.27979","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"},"type":"preprint","indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.48550/arxiv.2604.27979","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5134978005","display_name":"Andrei Seoev","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Seoev, Andrei","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134935285","display_name":"Dmitry Belousov","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Belousov, Dmitry","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134987725","display_name":"Anastasiia Smirnova","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Smirnova, Anastasiia","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134993371","display_name":"Ksenia Kurinova","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Kurinova, Ksenia","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134995245","display_name":"Aleksei Smirnov","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Smirnov, Aleksei","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5134992525","display_name":"Denis Fedyanin","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Fedyanin, Denis","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5020656981","display_name":"Yury Yanovich","orcid":"https://orcid.org/0000-0003-4651-7585"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Yanovich, Yury","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.8127999901771545,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.8127999901771545,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10064","display_name":"Complex Network Analysis Techniques","score":0.02630000002682209,"subfield":{"id":"https://openalex.org/subfields/3109","display_name":"Statistical and Nonlinear Physics"},"field":{"id":"https://openalex.org/fields/31","display_name":"Physics and Astronomy"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11437","display_name":"Digital Platforms and Economics","score":0.007499999832361937,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/arbitrage","display_name":"Arbitrage","score":0.9100000262260437},{"id":"https://openalex.org/keywords/attribution","display_name":"Attribution","score":0.5778999924659729},{"id":"https://openalex.org/keywords/transaction-cost","display_name":"Transaction cost","score":0.5044999718666077},{"id":"https://openalex.org/keywords/scale","display_name":"Scale (ratio)","score":0.4860000014305115},{"id":"https://openalex.org/keywords/database-transaction","display_name":"Database transaction","score":0.48339998722076416},{"id":"https://openalex.org/keywords/value","display_name":"Value (mathematics)","score":0.45899999141693115}],"concepts":[{"id":"https://openalex.org/C160623529","wikidata":"https://www.wikidata.org/wiki/Q273088","display_name":"Arbitrage","level":2,"score":0.9100000262260437},{"id":"https://openalex.org/C143299363","wikidata":"https://www.wikidata.org/wiki/Q900584","display_name":"Attribution","level":2,"score":0.5778999924659729},{"id":"https://openalex.org/C98965940","wikidata":"https://www.wikidata.org/wiki/Q877496","display_name":"Transaction cost","level":2,"score":0.5044999718666077},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5005999803543091},{"id":"https://openalex.org/C2778755073","wikidata":"https://www.wikidata.org/wiki/Q10858537","display_name":"Scale (ratio)","level":2,"score":0.4860000014305115},{"id":"https://openalex.org/C75949130","wikidata":"https://www.wikidata.org/wiki/Q848010","display_name":"Database transaction","level":2,"score":0.48339998722076416},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.45899999141693115},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.38440001010894775},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3700000047683716},{"id":"https://openalex.org/C2780385302","wikidata":"https://www.wikidata.org/wiki/Q367158","display_name":"Protocol (science)","level":3,"score":0.34769999980926514},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3402000069618225},{"id":"https://openalex.org/C127722929","wikidata":"https://www.wikidata.org/wiki/Q7833714","display_name":"Transaction data","level":3,"score":0.33329999446868896},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.3111000061035156},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3075000047683716},{"id":"https://openalex.org/C72108876","wikidata":"https://www.wikidata.org/wiki/Q844565","display_name":"Transaction processing","level":3,"score":0.2939000129699707},{"id":"https://openalex.org/C2522767166","wikidata":"https://www.wikidata.org/wiki/Q2374463","display_name":"Data science","level":1,"score":0.27619999647140503},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.2703999876976013},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.26910001039505005},{"id":"https://openalex.org/C165064840","wikidata":"https://www.wikidata.org/wiki/Q1321061","display_name":"Matching (statistics)","level":2,"score":0.257099986076355},{"id":"https://openalex.org/C42854785","wikidata":"https://www.wikidata.org/wiki/Q2154735","display_name":"Risk arbitrage","level":4,"score":0.2533999979496002}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.48550/arxiv.2604.27979","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.27979","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":null,"raw_source_name":null,"raw_type":"Preprint"}],"best_oa_location":{"id":"doi:10.48550/arxiv.2604.27979","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2604.27979","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"},"sustainable_development_goals":[{"score":0.4916684925556183,"id":"https://metadata.un.org/sdg/15","display_name":"Life in Land"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"Maximal":[0],"Extractable":[1],"Value":[2],"(MEV)":[3],"represents":[4],"billions":[5],"of":[6,100,125,132,141],"dollars":[7],"in":[8,144],"extracted":[9],"value":[10],"that":[11,97],"fundamentally":[12],"shapes":[13],"blockchain":[14],"network":[15],"dynamics":[16],"and":[17,27,49,61,67,81,137,147,163],"participant":[18],"incentives.":[19],"While":[20],"research":[21],"has":[22],"focused":[23],"on":[24,75,93],"MEV":[25,35,45,117,126,157],"extraction":[26],"mitigation,":[28],"we":[29,95],"lack":[30],"systematic":[31],"methods":[32,71],"to":[33,37,107],"attribute":[34],"opportunities":[36,60,103],"their":[38,63],"on-chain":[39],"origins.":[40],"This":[41],"paper":[42],"formalizes":[43],"the":[44,98],"opportunity":[46,169],"attribution":[47,70],"problem":[48],"introduces":[50],"a":[51,121,129],"systems":[52],"framework":[53],"for":[54,72,153],"identifying":[55],"which":[56],"transactions":[57],"create":[58],"arbitrage":[59,74,102],"quantifying":[62],"contributions.":[64],"We":[65,119],"design":[66],"evaluate":[68],"four":[69],"atomic":[73,101],"EVM-compatible":[76],"networks:":[77],"bot-data-driven,":[78],"simulation-based,":[79],"coefficient-based,":[80],"Shapley-based":[82],"approaches.":[83],"Through":[84],"large-scale":[85],"retrospective":[86],"analysis":[87,140],"spanning":[88],"over":[89],"one":[90],"million":[91],"blocks":[92],"Polygon,":[94],"demonstrate":[96],"majority":[99],"can":[104],"be":[105],"traced":[106],"single":[108],"source":[109],"transactions,":[110],"validating":[111],"our":[112],"central":[113],"hypothesis":[114],"about":[115],"competitive":[116],"markets.":[118],"quantify":[120],"highly":[122],"concentrated":[123],"distribution":[124],"creation,":[127],"where":[128],"small":[130],"subset":[131],"protocols":[133],"generates":[134],"most":[135],"opportunities,":[136],"provide":[138],"comparative":[139],"method":[142],"trade-offs":[143],"accuracy,":[145],"cost,":[146],"scalability.":[148],"Our":[149],"findings":[150],"offer":[151],"insights":[152],"protocol":[154],"designers":[155],"reducing":[156],"leakage,":[158],"validators":[159],"optimizing":[160],"transaction":[161],"ordering,":[162],"analysts":[164],"measuring":[165],"ecosystem":[166],"health":[167],"through":[168],"creation.":[170]},"counts_by_year":[],"updated_date":"2026-07-01T06:00:48.157686","created_date":"2026-05-02T00:00:00"}
