Timing Games: Probabilistic backrunning and spam
Computer Science and Game Theory
2026-02-26 v1
Abstract
There are players who compete by timing their actions. An opportunity appears randomly on a time interval. Whoever takes an action the fastest after the opportunity has arisen wins. The occurrence of the opportunity is observed only with a delay. Taking actions is costly. We characterize the unique symmetric equilibrium of this game and study worst-case inefficiency of equilibria. Our main motivation is the study of ``probabilistic backrunning" on blockchains, where arbitrageurs want to place an order immediately after a trade that impacts the price on an exchange or after an oracle update. In this context, the number of actions taken can be interpreted as a measure of costly ``spam" generated to compete for the opportunity.
Cite
@article{arxiv.2602.22032,
title = {Timing Games: Probabilistic backrunning and spam},
author = {Bruno Mazorra and Christoph Schlegel and Akaki Mamageishvili},
journal= {arXiv preprint arXiv:2602.22032},
year = {2026}
}