> For the complete documentation index, see [llms.txt](https://docs.port.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.port.finance/fixed-rate-lending/arbitrage-opportunities.md). # Arbitrage Opportunities **Arbitrage Opportunities for Principal USDC** Sometimes you might see that the fixed rate APY is negative, this means great arbitrage opportunities! A negative APY means that ppUSDC is trading at a price that is more expensive than USDC. However, since that ppUSDC only allows the holders to redeem USDC at the end of maturity, considering its time value it shouldn’t be priced like this. One can take this opportunity by minting ppUSDC and pyUSDC in the “Mint” Tab. And then sell the ppUSDC for USDC using Atrix, while still keeping their pyUSDC(which is the interest)! **Arbitrage Opportunities for Yield USDC** Suppose that pyUSDC is traded at 0.01 USDC, assuming a 90 day maturity implies a 1 % \* 90 (days) / 365 (days per year) = 24.6% APY. And if you believe that the current variable APY is **unlikely** to be this high, you can sell your yield token for USDC and gain some profits. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.port.finance/fixed-rate-lending/arbitrage-opportunities.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.