In normal market conditions, USDC fluctuates minimally—usually between $0.999 and $1.001. Some institutional traders exploit these micro-fluctuations via high-volume arbitrage, but the margins are incredibly small for retail traders.
However, looking at the historical chart, you can see rare moments of high volatility known as de-pegging. For instance, during the Silicon Valley Bank crisis in March 2023, USDC temporarily dropped to around $0.88 due to panic. Traders who bought the fear at $0.88 made a quick ~13% profit when it inevitably restored its $1.00 peg days later.

USDC
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