## 1 Introduction
### Literature Review  
In recent years, researchers have shown significant interest in the integration of second-life batteries into power systems for various purposes, the participation of battery energy storage systems in electricity markets to balance supply and demand, and the prediction of electricity market prices for arbitrage situations. There are some studies on SLBs in the literature. [PERSON] et al. [5] investigated the use of second-life batteries to meet the energy demand of residential communities. The authors proposed a bi-level framework for short-term operational objectives. At the upper level, a many-objective energy management model is explained, while at the lower level, community load is regulated, and additionally, energy costs at the upper level are allocated to houses. [PERSON] et al. [6] conducted a techno-economic analysis of a battery swap station, taking into account energy trading with the power grid using aged batteries, namely SLBs. Additionally, a model was presented that minimizes the total charging cost by considering the predicted battery demand and time-of-use prices. The use of SLBs was stated to result in a 19% cost reduction. [PERSON] et al. [7] examined significant performance differences among EV battery designs. In their paper, the aim was to provide important information for the design of SLB energy arbitrage projects. Moreover, it was stated that Volt and EnerDel batteries can provide the highest capacity among batteries in terms of performance. [PERSON] et al. [8] presented a model for calculating the payback period when SLBs obtained from EVs are used as residential energy storage systems. In their study, daily electricity consumption data of a house in the UK were used and the model was tested with MATLAB software. It should be underlined that there are limited studies in the literature on the participation of second-life batteries in electricity markets. [PERSON] and [PERSON] [9] suggesteda comparative life cycle economic analysis for a building, taking into account new and second-life batteries. Their study stated that second-life EV batteries are a good alternative for buildings instead of buying new batteries. [PERSON] et al. (2019) presented a two-stage operation structure for EV batteries. In the first stage, the most appropriate charging strategy for an EV battery is explained, and in the second stage, the EV battery is evaluated as an SLB in a house. Then, the authors carried out a test study consisting of six scenarios. According to the results obtained from the study, with the use of SLBs, battery life can be extended by 3-5 years and savings of over 23% can be achieved. [PERSON] et al. (2018) described a framework for implementing auction-based peer-to-peer energy trading in a residential energy market. While the economic layer and the physical layer were optimized in the model, each home energy management system tried to maximize its profit. In the study, both fresh batteries and SLB situations were taken into account. The feasibility of SLBs was confirmed in test studies. [PERSON] et al. (2019) investigated the participation of EV SLBs in Danish electricity markets. The authors determined the aim of the study as maximizing the profits obtained from the markets. They also conducted test studies taking into account various situations, and it was announced that the structure has environmental-economic benefits. However, historical Denmark electricity market price data were used in this study. It should be underlined that no predictions were made for future electricity prices when trading in electricity markets. [PERSON] and [PERSON] (2018) conducted a techno-economic analysis of the electricity trade of EV SLBs in the Irish electricity market. In the results, it was stated that SLBs are economically suitable as their cost decreases compared to a new battery. In some studies, the participation of new batteries in the electricity markets was taken into account. It should be underlined that SLBs could not be used in these studies. [PERSON] et al.