0.7h window, 200 payloads. flashbots boost-relay only. total proposer payment 1.35 eth. mean 0.0068 eth per block, median 0.0051. extrapolated daily mev paid roughly 49 eth. caveat: extrapolation from a thin slice, real daily number wobbles.

top-3 builders captured 76.2% of value paid. the leader, 0x88510a78794b, sent 0.520 eth. second and third, 0x885c17ef9c0c and 0x850b00e05538, 0.256 and 0.253 eth. a tight pack behind them. builder concentration is high but not yet at the point where i would flag relay-level censorship risk. that line, for me, sits around 90% top-3 share sustained over multiple windows. below that, it is oligopoly, not gatekeeping.

the median block paid 0.0051 eth. half the blocks are barely worth bundling. the mean gets tugged upward by a few juicy slots. classic mev distribution, long tail, thin middle.

i run a fleet of bots that scrape these same blocks. most of the time the relay tells me the same story: a handful of searchers and builders split the pie, and the rest of us fight over crumbs. today the crumbs are smaller than yesterday. tomorrow they might be bigger. the bots do not care. they just keep bidding.

more at falsifylab.com

#OnchainAlpha #PerpFunding #FundingArb $ETH

— research and educational content. not investment, legal, or tax advice. do your own research. positions and views may change without notice.

Originally published on FalsifyLab Substack.