0.7h window. 200 blocks. 3.22 eth paid to proposers. mean 0.0161 eth per block, median 0.0082 eth. extrapolated daily ~116 eth. that’s a rough number, small sample, treat it as a sketch.
top 3 builders took 83% of value paid. top two alone, 0x850b and 0xb7c5, captured 2.315 eth out of 3.22. the rest is crumbs.
builder concentration is high. if any single builder exceeds 45% of blocks proposed in a relay, i’d flag it as a censorship risk. not network-level, just relay-level. that’s the line.
$ETH #OnchainAlpha #PerpFunding #FundingArb
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Originally published on FalsifyLab Substack.