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Author Topic: Eliminating Arbitrage  (Read 5665 times)
mortenh
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June 10, 2011, 09:47:30 AM
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I have created a web application for price comparison between markets, and for identifying arbitrage opportunities.  Currently, some people are asking for BitCoins at higher prices than others are selling them, creating opportunities for "instant" profit.

http://fnoose.com/bitcoin/arbitrage/

eta: I see now that others have created similar tools in the past, but mine appears to be more complete
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Sukrim
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June 10, 2011, 11:10:09 AM
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Problem here:
MtGox trades are more or less "live" while bitmarket.eu for example is more like "Over the counter" trades.

Did you factor MtGox fees in there as well?

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
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Grant
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June 10, 2011, 11:13:54 AM
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I've been thinking of utilizing these arb opportunities for full, i'm only afraid that my government will require a 28% tax each time i cashout. And a wire is needed to complete a loopcycle, there is a certain exchange (which shall remain unnamed ;-) that does ALWAYS offer a premium above mtgox rate.

Btw. nice tool.

Sukrim
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June 10, 2011, 12:49:12 PM
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You should prepare already for integration of tradehill data! Wink

Once they release APIs and have a certain volume, people will look for comparisons between these two.

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mortenh
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June 10, 2011, 01:13:43 PM
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You should prepare already for integration of tradehill data! Wink

Did you reload the page recently?  I added Tradehill more than an hour ago.
bitoption
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June 10, 2011, 06:23:49 PM
 #6

Hey Mortenh,

you're welcome to add bitoption as well; bids/asks are starting to come in there.. Options always add a nice alternative hedge possibility.

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

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hoki
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June 10, 2011, 07:04:35 PM
 #7

Thanks for the tool! And you're right, in the long-term, there will be no arb opportunities, which is great, I think.

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bitoption
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June 10, 2011, 07:19:30 PM
 #8

p.s. I've always discounted non-escrowed exchange situations -- there's just so much risk there. What are your thoughts on this?

----** In Beta: The First Bitcoin Options Market ----**

Explanation and discussion: http://forum.bitcoin.org/index.php?topic=9611.0

API Developer Thread:
http://forum.bitcoin.org/index.php?topic=14194.0

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Stephen Gornick
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June 12, 2011, 07:14:40 AM
 #9

I added Tradehill more than an hour ago.

The exchange now treats LR USD as a separate currency.  Could you add an entry for that to your site?

yossarian
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June 13, 2011, 06:42:38 AM
 #10

Great site, just what I was looking for. Thank you!

I'm always buying and selling BTC, PM me for details. Rating and GPG-key: http://is.gd/yossarian

Buy and sell BTC via SEPA: https://www.bitcoin.de/r/nrnxg6

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Karmicads
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June 13, 2011, 08:28:57 AM
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That's a very nice idea. Thanks for doing this. Is it possible for anybody to incorporate the main table into a website? Any plans for an API or some such? 
yossarian
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June 13, 2011, 03:54:27 PM
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Awesome work! Could you include britcoin as well? Thanks!

I'm always buying and selling BTC, PM me for details. Rating and GPG-key: http://is.gd/yossarian

Buy and sell BTC via SEPA: https://www.bitcoin.de/r/nrnxg6

Bitmessage: BM-2DAoXPtLdQEnR2iSneCTjpgRPtzXsSAi1m
Stephen Gornick
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June 25, 2011, 01:53:09 AM
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Any plans to have live data again?

Vinnie
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June 25, 2011, 04:21:11 AM
 #14

Nice! With the right information, arbitrage eliminates itself!

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BombaUcigasa
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June 25, 2011, 05:23:28 PM
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Could you try to think about the fees into the calculations? WON'T SOMEBODY THINK ABOUT THE FEES!!!!
zaphod
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June 25, 2011, 05:54:34 PM
 #16

Am I the only one who thinks it's funny/strange that he went through all the trouble of publishing this data instead of just acting on it and eliminating the arbitrage opportunities himself?

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June 25, 2011, 05:59:07 PM
 #17

Also, I love MHash/J, not a unit the measure I would have used even though it makes perfect sense.  I probably would have left it MHash/s per W since those are the units people are used to thinking in (this is the same as MHash/J as the /s cancels).

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Chucksta
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June 25, 2011, 05:59:49 PM
 #18

Am I the only one who thinks it's funny/strange that he went through all the trouble of publishing this data instead of just acting on it and eliminating the arbitrage opportunities himself?

Good point, then again it is a major hassle, and providing this service can in itself make BTC in donations. Also, some people just love to help others Smiley

I'll link this thread in the site I belong to. We were discussing this subject today. I'm sure some of my lot will make good use of it, and donate Wink

One of the guys just asked me to request that Bitcoin7 be added
BombaUcigasa
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June 25, 2011, 07:52:11 PM
 #19

Am I the only one who thinks it's funny/strange that he went through all the trouble of publishing this data instead of just acting on it and eliminating the arbitrage opportunities himself?
I wish I were a jew and not be able to do kind things to the community like OP did. Yes, strange. That's us.
BkkCoins
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June 26, 2011, 06:32:04 PM
 #20

To be useful this really needs to have an indicator of depth - how many BTC can be traded. I mean going to the effort to pick up a 0.001 BTC trade would be silly. And also with this chart you have to go figure out if the counter trade for matching size.

Also, what values do you use for forex?
Are they real market values you could get or those ones you never get close to shown on places like Yahoo....

I think this is a great little chart though and it inspires me to want to make an actual trading program in Python that would beep at me when an interesting opportunity arises for accounts I would have useful balances in.

Edit: Hmmm. Just checked the numbers on the site and they don't seem to match at all. Is this actually being updated now?

Your chart says BUY BTC on bitcoinmarket.com at 13.90 USD
then SELL BTC on BitMarket.eu for 12.00 GBP.
Making 37.90% - which sounds good.
Except on BitMarket.eu 12.00 GBP is the SELL price (ASK) not the BUY price.
The BUY price there is currently 10.5 GBP.

So either this is out of date or some numbers are reversed and the trades aren't doable.

I suspect bitcoinmarket.com is wrong because it says you can buy and sell there and make 29.5%

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