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Author Topic: MtGox <-> Btc-e arbitrage ~3% profit  (Read 22292 times)
arsenische
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April 09, 2013, 02:21:49 PM
 #1

I've noticed that the price difference between MtGox and BTC-e is often greater than 7%. But it takes only ~3% to transfer funds from MtGox to Btc-e.

So you can sell bitcoins for USD at MtGox, transfer funds to BTC-e and buy cheaper bitcoins there thus making ~3% with minimal risks.

The easy way of transferring funds from MtGox to Btc-e is OKPay. I noticed that transfers may take from several minutes to couple days though, so it might be a good idea to make reserves of USD at BTC-e before placing your buy and sell orders.

Minimizing the interval between buys and sells you minimize your risks. Though it might be a good idea to make sure that sell order at MtGox executes before placing your buy order at btc-e since sometimes MtGox is really slow.

Why am I writing all this? Just hoping to get some passive income via OKPay's referral program. So if you find this advise useful, please use my link to get registered: https://www.okpay.com/?rbp=arsenische

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April 09, 2013, 02:24:00 PM
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what do you mean with "minimal risk" ?

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arsenische
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April 09, 2013, 02:32:23 PM
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That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though Smiley

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April 09, 2013, 03:15:04 PM
 #4

That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though Smiley
Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it.

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arsenische
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April 09, 2013, 03:16:47 PM
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That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though Smiley
Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it.

As I said, it takes from several minutes to several hours. So it is nice to have USD reserves in BTC-e. Well... I assume people don't put all their savings in bitcoin, just part of them.

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April 09, 2013, 03:19:25 PM
 #6

Personally, I do not use Gox anymore. All this AML verification, sending documents and whatnot. Not worth it imo.

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arsenische
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April 09, 2013, 03:54:20 PM
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Yes, but still it is the most liquid exchange... Btw, Okpay requires documents too. But it processes them much quicker than MtGox Smiley

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April 09, 2013, 06:32:58 PM
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In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

arsenische
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April 09, 2013, 07:33:45 PM
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In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

So how much arbitragers are making per day nowadays?

arsenische
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April 09, 2013, 07:40:55 PM
 #10

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

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April 09, 2013, 08:33:30 PM
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.
arsenische
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April 09, 2013, 09:11:03 PM
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

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April 09, 2013, 09:44:04 PM
 #13

In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

So how much arbitragers are making per day nowadays?

You can have some understanding of it with free version of the bitcoin-analytics.com/#arbitrage which shows 6 hours delayed data.

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April 10, 2013, 03:25:42 AM
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Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

Well, I feel like an idiot. Added. Question - how long did it take for them to validate yours as a withdrawal method?  I'd really love to take advantage of the current spread between the two...
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April 10, 2013, 06:32:00 AM
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.


arsenische
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April 10, 2013, 06:59:06 AM
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Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.



Did you try bank transfer option?

frozen
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April 10, 2013, 07:03:26 AM
 #17

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.



Did you try bank transfer option?

Oh look, there it is. Thanks!

Rishodi
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April 10, 2013, 02:22:28 PM
 #18

At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.

Bitrated user: Rishodi.
daybyter
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April 10, 2013, 02:26:03 PM
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That's a situation when you could move the money back to btc-e. Even with a loss, it might make sense...

Furyan
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April 10, 2013, 02:42:20 PM
 #20

At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.

At 4am last night, you would have saved $15 per coin.. it varies by time of day.  The margin needs to be at least 7% to be profitable and that's just to cover the fees to move money and coins between the two..
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