Back and forth trades for profit?

It appears that somehow, someone is able to trade back and forth between pUSDT and pUSDC for profit. I don’t understand how this is possible. If you look at lines 1 and 3 in these photos, you can seem that both trades were profitable. This doesn’t make any sense to me. For me, the coins never swap for more of the other.
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This is only able to happen when there is arbitrage opportunity. Basically someone dumps either more USDT or USDC into the network to buy PRV which changes the price for that particular pair. People usually jump on that opportunity pretty quickly as the transaction is relatively safe between two stablecoins. It’s usually first come, first serve, but larger transactions may get preferential treatment due to requiring a higher fee? I’m not quite sure about that though.

Anyways, if you want to be a part of those transactions, you have to be very vigilant looking at the prices and trades that go through.

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