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Created by Shaunak Ghosh
Build a clear mental model of how modern electronic markets work, why milliseconds matter, and how HFT strategies extract edge through infrastructure and market design. You’ll connect microstructure mechanics to the 2010 Flash Crash, then transfer the same framework to crypto—contrasting CEX order books with DEX AMMs and understanding MEV/sandwich attacks plus practical defenses.
5 modules • Each builds on the previous one
Build a mental model of modern electronic markets: limit vs market orders, the limit order book, bid–ask spread, matching engines, and why time priority makes milliseconds valuable.
Define HFT as a subset of algorithmic trading characterized by ultra-low latency, high message rates, and short holding periods; distinguish market making, arbitrage, and directional strategies and how they earn (and lose) money.
Explain how firms buy speed (co-location, fiber routes, microwave links) and how that enables latency arbitrage—capturing price differences across venues before others can react—plus why it is not always risk-free.
Analyze the May 6, 2010 Flash Crash using the order-flow framework: how liquidity can evaporate, how algorithms respond to volatility, and how feedback loops across venues can amplify a shock in seconds.
Transfer the HFT framework to crypto by separating CEX order-book dynamics from on-chain DEX mechanics. Cover common bot behaviors (front-running/sandwiching, MEV extraction, spoofing-like tactics, wash trading) and what market design choices make them possible.
Begin your learning journey
In-video quizzes and scaffolded content to maximize retention.