Uniswap, Defi, Uniswap V3.
results match the paper pretty well: Poisson-distributed blocks, quick simulation swap fee: 1bp 5bp 10bp 30bp 100bp block time 600 sec, arb prob %: 96.7 85.5 74.6 49.6 22.6 block time 120 sec, arb prob %: 92.9 72.4 56.8 30.5 11.6 block time 12 sec, arb prob %: 80.7 45.5 29.4 12.2 4.0 block time 2