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Jeff Yan - High Frequency Crypto Market Making & the Hyperliquid Exchange (S6E2)
Flirting with Models
The Importance of Order Book Speed
Even writing your own custom L1, my expectation is that you'd still be operating at speeds that are orders of magnitude slower than most of the major crypto-centralized exchanges. Prices don't move that much in 100 milliseconds versus 10. For all intents and purposes, it's zero. This is where latency incurred by block times is basically solved by running a custom L1. The only issue is that modern protocols are not quite ready for production.
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