Anyone able to successfully use flash loans for Arbitrage?

DeFi 201
#1

Hi there,

I’ve gone through the DeFi 201 course and noticed the basic use cases of the flash loans. Wanted to mention it would be a good idea to try this on the BSC network the fees are a lot cheaper in comparison to Ethereum, e.g. usingPancakeSwap/BakerySwap.

My questions are:

  1. Has anyone actually been able to successfully use flash loans to gain profit from arbitrage opportunities?
  2. What is stopping miners and bots from picking up your transaction, copying it before they mine your block?
  3. I see slight price discrepancies all the time between exchanges, do people actually succeed?