i've done it sometimes, and, it depends on a lot of factor. You have to follow some rules:
- check volumes in both exchanges, cause sometimes (most of) low or hight rate are given by small purchases, so you have a misleading situation where you will buy a big amount on exchange A, will send to B paying fees and realising that you have let's say 745 AudioCoins (bough at 1,341DOGE) but in buy order ther's just 0.5 audiocoins at 1,999DOGE and the other are less than 1,341 so you are losing money =D
- if you check and the volumes are ok you have to consider the transaction time, some coins need 6 confirmation other 200, so it could take from minutes to days
- before the purchase check the possibility to deposit and withdrawal in both exchange
finally it's possible to make money but most of the time will lose.
The best practice is to buy low on small volume and sell hight on high volume (buy on livecoin sell on bittrex)
albio87 Thanks for your tips, very helpful.
The example DancoB has provided would not work in real life as audiocoin daily turnover on those exchanges is minimal, you can't buy or sell these amounts.
Best of luck, share with us if you succeed