Bitcoin Forum

So i saw an opportunity trying to arbitrage with 3 pairs on Bittrex. It was just a test with a semi-small amount. I didn't really expect it to work within the same exchange, but it looked like it'll work.
If i calculate what happened, it should have worked, but it didnt and i am not really sure why.

This was my arbitrage path starting with 0.1 ETH.

BTC-ETH ->  BTC-1ST -> ETH-1ST

Sell ETH for BTC, Buy 1ST with BTC, Sell 1ST for ETH.

This is what the trades looked like:
https://abload.de/img/lolwhat5dskg.jpg

I started with 0.1 ETH and i ended up with 0.09580303 ETH.

So i thought that maybe price changed in between trades and made the opportunity vanish. So i calculated the rates at which the trades sold at market conditions (Actual Rate in the picture).

(1 / 0.04740000) * 0.00005890 * (1 / 0.00119958) = 1.0358759

So it is > 1 and should have made me ETH profit, right? 1.03 is approximately 3 percent and Bittrex has a fee of 0.25% per trade. It still should have made me a bit over 2% profit.

What am i missing here? Also: I don't really understand the Costs / Proceeds from Bittrex in the picture. In what currency is this? Why are there negative values?

Thanks in advance for any help.

the calculation should be:
1 * 0.0474 / 0.0000589 * 0.00119958 = 0.9653665874

the costs are the values you get/pay. 
So in the third line you got that many BTC for your sell -> positive.
In second line, you paid that many BTC to buy 80 1ST
And in first line you got so many ETH for selling 1ST

I am so stupid.  :D
Forget my thread. hehe

Thank you very much!

No. Your post was interesting. At least for me :)