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Author Topic: bitstamp arbitrages  (Read 2927 times)
lucif
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April 09, 2013, 06:17:51 PM
 #1

Are you sleeping?

Asks on 227. mtgox coupon -> [aurumxchange/bitinstant] -> bitstamp -> buy 227 -> send coins to mtgox -> sell 240

Even btce is on 230. Bitstamp 227 :facepalm:
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zarl
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April 09, 2013, 06:27:29 PM
 #2

Are you sleeping?

Asks on 227. mtgox coupon -> [aurumxchange/bitinstant] -> bitstamp -> buy 227 -> send coins to mtgox -> sell 240

Even btce is on 230. Bitstamp 227 :facepalm:

how to do that ?
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April 09, 2013, 06:28:14 PM
 #3

everyone's too busy gazing at the charts with their mouths wide open
lucif
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April 09, 2013, 06:31:09 PM
 #4

Are you sleeping?

Asks on 227. mtgox coupon -> [aurumxchange/bitinstant] -> bitstamp -> buy 227 -> send coins to mtgox -> sell 240

Even btce is on 230. Bitstamp 227 :facepalm:

how to do that ?

1. Go here or here https://www.bitinstant.com/ https://www.aurumxchange.com/
2. Choose Mtgox -> Bitstamp
3. Enter usd amount
4. Enter destination account
5. Proceed, make needed mtgox code
6. Enter it to bitinstant/auruxchange
7. Get your USD into bitstamp
8. Buy cheap coins
6. Send them directly to your mtgox deposit address
10. Sell at gox

This process called arbitrage. Oftenly processed by bots.
damnek
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April 09, 2013, 06:47:23 PM
 #5

I also noticed this. Another bearish sign: the traders at bitstamp are not buying this rally anymore.
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April 09, 2013, 06:56:43 PM
 #6

If you want some more arbitrage, Cavirtex is selling coins for around 288 CAD (283 USD). Mtgox is still around 240 USD.
catcow
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April 09, 2013, 07:06:35 PM
 #7

bitinstant and aurumxchange are risky.  they often do not have enough reserves to cover everybody's transfers and your money is stuck in limbo for days.

bitinstant has had my money from a mtgox to bitstamp transfer for 2.5 days now. guess how much money i would have made if it transferred instantly like its supposed to?  a lot.
essem
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April 09, 2013, 07:12:56 PM
 #8

Are you sleeping?

Asks on 227. mtgox coupon -> [aurumxchange/bitinstant] -> bitstamp -> buy 227 -> send coins to mtgox -> sell 240

Even btce is on 230. Bitstamp 227 :facepalm:

fees are too high, 3% aurum charge then bit stamp charge 0.5% and mtgox charge 0.6%
lucif
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April 09, 2013, 07:30:10 PM
 #9

Looks like ok now with liquidity at bitstamp
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April 09, 2013, 07:51:51 PM
 #10

Are you sleeping?

Asks on 227. mtgox coupon -> [aurumxchange/bitinstant] -> bitstamp -> buy 227 -> send coins to mtgox -> sell 240

Even btce is on 230. Bitstamp 227 :facepalm:

how to do that ?

1. Go here or here https://www.bitinstant.com/ https://www.aurumxchange.com/
2. Choose Mtgox -> Bitstamp
3. Enter usd amount
4. Enter destination account
5. Proceed, make needed mtgox code
6. Enter it to bitinstant/auruxchange
7. Get your USD into bitstamp
8. Buy cheap coins
6. Send them directly to your mtgox deposit address
10. Sell at gox

This process called arbitrage. Oftenly processed by bots.

But before goin all in you can just check whether there is enough volume to close your potential arbitrage direction in real time and compare the dynamics of it for the last 24 hours on bitcoin-analytics.com/#arbitrage just for a fraction of your potential profit or prevented losses.

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April 09, 2013, 09:21:15 PM
 #11

How would you do this for BTC-E? I see no option.

"To know your Enemy, you must become your Enemy." -Sun Tzu
genuise
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April 09, 2013, 09:45:57 PM
 #12

Sorry, who exactly are you asking?

hubbabubbabaker
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April 09, 2013, 09:55:57 PM
 #13

Sorry, who exactly are you asking?

Whoever has the answer.

"To know your Enemy, you must become your Enemy." -Sun Tzu
genuise
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April 09, 2013, 09:58:42 PM
 #14

Ah you are asking about ways to transfer USD.

But I was thinking that here probably no actual arbitrage opportunity displayed on bitcoin-analytics.com/#arbitrage.


im3w1l
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April 10, 2013, 12:58:37 AM
 #15

I also noticed this. Another bearish sign: the traders at bitstamp are not buying this rally anymore.

My interpretation is rather: Things are changing so fast that it is hard for everyone to keep up with the price movements on every exchange. That people don't mind paying a 10% premium or w/e, indicates an extremely irrational market. Mid term bearish but not bearish for as short term as "the traders at bitstamp are not buying this rally anymore." would indicate.
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April 10, 2013, 01:02:32 AM
 #16

Arbitrage works great if there is a sizable gap and the price is low. Unfortunately, the prices are rather HIGH right now and RISING which makes it hard to trade the volume needed to make a decent profit.

 Undecided

The huge backlog and lack of reserves that bitinstant has makes it hard to get your money fast enough to have the opportunity for an arbitrage.



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Crypt_Current
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April 10, 2013, 01:06:39 AM
 #17

Arbitrage works great if there is a sizable gap and the price is low. Unfortunately, the prices are rather HIGH right now and RISING which makes it hard to trade the volume needed to make a decent profit.

 Undecided

The huge backlog and lack of reserves that bitinstant has makes it hard to get your money fast enough to have the opportunity for an arbitrage.

The time factor is really the killer.  I arbed a bit between Gox / btc-e using OKPay as a middleman, but by the time my USD got from Gox to OKPay, price at btc-e had gone too high to make a decent profit.

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April 10, 2013, 01:07:21 AM
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kakobrekla
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April 10, 2013, 01:10:46 AM
 #19

Actually to add; I was running arb bot for a while (when we were in 5$ period) but I shut it off because of not much movements happed back then and also because Bitstamp has a bug and has been silently stealing via fees for over a year now and it was killing my arb profit. I talked about it with Nejc (one of two guys who run this exchange) - it was said its gonna get fixed but why fix money making bug eh? Yeah still there, but even less apparent with the Bitcoin price rise.

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April 10, 2013, 06:18:37 AM
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1. Go here or here https://www.bitinstant.com/ https://www.aurumxchange.com/
2. Choose Mtgox -> Bitstamp
3. Enter usd amount
4. Enter destination account
5. Proceed, make needed mtgox code
6. Enter it to bitinstant/auruxchange
7. Get your USD into bitstamp
8. Buy cheap coins
6. Send them directly to your mtgox deposit address
10. Sell at gox

This process called arbitrage. Oftenly processed by bots.

11. Pay MtGox commission
12. Pay Bitstamp commission
13. Pay bitinstant/auruxchange commission
14. Wait several days for USD to transfer
15. That 0.01BTC sitting at 227 ask looks good, but prepare to pay 3% more to buy any sizable amount
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