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Author Topic: MtGox <-> Btc-e arbitrage ~3% profit  (Read 22294 times)
arsenische
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April 10, 2013, 03:10:35 PM
 #21

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..

Sometimes the price difference is quite high. You lose 3-4% on fees, so if difference is higher than that, then it is profitable. Though probably the best strategy is to wait until the difference is at least 7%, otherwise you are likely to hit your withdrawal limits at mtgox without noticeable profit.

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arsenische
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April 11, 2013, 05:11:20 PM
 #22

Got 12 referrals and $1 from one of them. Thanks! Smiley

arsenische
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April 12, 2013, 11:15:06 PM
 #23

It was > 10% difference few minutes ago ($99 vs $111)

Capitan
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April 13, 2013, 12:00:39 AM
 #24

Can't you just maintain USD balances at both, and execute the trades simultaneously? Don't they have free methods of withdrawal (that take a few days). If you have a buffer of BTC and USD at both you should be able to execute your arbitrage and even the balances out periodically right? Am I missing something?
arsenische
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April 13, 2013, 04:55:14 AM
 #25

Can't you just maintain USD balances at both, and execute the trades simultaneously? Don't they have free methods of withdrawal (that take a few days). If you have a buffer of BTC and USD at both you should be able to execute your arbitrage and even the balances out periodically right? Am I missing something?

Yes, that's what I suggest too since funds transfers may take much time.

But you can't deposit to btc-e or withdraw from btc-e without fees (unless you use btc-e redeemable code). If you live in the USA, you can withdraw almost for free with Dwolla, but I am not sure what is the best way to deposit to btc-e from Dwolla. OKPay is probably the easiest option and not that expensive. It also offers a debit card, so you can cash out with ATM Smiley

daybyter
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April 13, 2013, 09:41:08 AM
 #26

Do you have code to withdraw from btc-e via app?

arsenische
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April 15, 2013, 04:05:04 PM
 #27

Do you have code to withdraw from btc-e via app?

Sorry, I didn't understand the question. Did you mean withdrawal API, or btc-e redeemable code?

daybyter
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April 15, 2013, 05:38:52 PM
 #28

Can you withdraw from btc-e via an application?

arsenische
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April 15, 2013, 06:05:13 PM
 #29

Can you withdraw from btc-e via an application?

I don't think so. Here is the API. I don't see deposit/withdrawal functions there.

clicksmoney
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April 17, 2013, 01:17:53 PM
 #30

Can you withdraw from btc-e via an application?

Yes it's called a 'web browser'  Cool

daybyter
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April 17, 2013, 01:43:30 PM
 #31

Can you withdraw from btc-e via an application?

I don't think so. Here is the API. I don't see deposit/withdrawal functions there.

I know the api. I just thought you might have done it already.

arsenische
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April 24, 2013, 04:30:57 AM
 #32

Did everybody see the difference ~10% and sometimes ~12%? I could make some money if I had a trusted account at MtGox Smiley

Lgetty17
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April 24, 2013, 04:54:33 AM
 #33

Can you not transfer funds from BTC-e to your wallet then from your wallet to MtGox?
arsenische
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April 24, 2013, 05:20:11 AM
 #34

Can you not transfer funds from BTC-e to your wallet then from your wallet to MtGox?

Are you talking about moving bitcoins? You can withdraw bitcoins from btc-e to your wallet or mtgox directly with a 0.01btc fee. Not sure about transferring USD from btc-e to mtgox as there is no much sense in it.

Lgetty17
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April 24, 2013, 05:25:47 AM
 #35

Yes, I am talking about moving BTC from BTC-e to MtGox. The .01BTC fee would be cheaper than the 3.99% fee that bitinstant charges if you were moving more than .25BTC (and may be faster)
bitarrow
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April 28, 2013, 02:02:21 PM
 #36

Can you withdraw from btc-e via an application?

I don't think so. Here is the API. I don't see deposit/withdrawal functions there.

I know the api. I just thought you might have done it already.
yes you can do this via API. However, you must contact support and they must approve you to use those API's. But they do exist.
daybyter
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April 28, 2013, 02:18:26 PM
 #37

Aaargh! *facepalm*

Xer0
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April 30, 2013, 06:22:11 PM
 #38

OKpay funding fees: 1% $, 0% € SEPA, 2% € Sofortüberweisung
OKPAY -> BTCe deposit fee: 0,5% (okpay side) + 2% (btce side)
BTCe trading fee: 0,2%
BTCe withdrawal fee: 0,01 BTC
Mt.Gox trading fee: 0,6%
Mt.Gox withdraw fee: Huh (1% for OKpay, dunno for SEPA/Wire)

so that's a loss of 0.01BTC and 3,3% in best or 5,2% in worst case
however i calculated 40$ profit with 1000$ investment and the 10$ difference today (132/142)

am i wrong?
bittencoin
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April 30, 2013, 07:09:36 PM
 #39

OKpay funding fees: 1% $, 0% € SEPA, 2% € Sofortüberweisung
OKPAY -> BTCe deposit fee: 0,5% (okpay side) + 2% (btce side)
BTCe trading fee: 0,2%
BTCe withdrawal fee: 0,01 BTC
Mt.Gox trading fee: 0,6%
Mt.Gox withdraw fee: Huh (1% for OKpay, dunno for SEPA/Wire)

so that's a loss of 0.01BTC and 3,3% in best or 5,2% in worst case
however i calculated 40$ profit with 1000$ investment and the 10$ difference today (132/142)

am i wrong?

try it and report back.
ruggedman_dan
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April 30, 2013, 08:40:22 PM
 #40

The issue here is how long it takes to transfer from MtGox to OKPAY. If the transfer happens in minutes or a couple hours then you can start the process again and again until you hit your MtGox withdrawal limit.

So the question is (and this has been asked before) how long is it CURRENTLY taking to withdraw USD from Gox to OKPAY?

I heard something about Gox had low OKPAY reserves at the moment. Can anyone give us any current insight on this?
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