Scalping a tokenized wrapper on this feels like leaving money on the table, the liquidity profile on these things usually means you're giving up more in spread than you think on the exit.

Spread's real but if you time the momentum right you're in and out before it matters. Not holding through the noise either way.

Timing works until the wrapper reprices weird on you and you're holding a position that's moved against both the underlying and the token spread at the same time.