Some observations about Huobi and Bitstamp prices
(Many readers may have observed them already, or may not care. Sorry if that is the case.)
Usually Huobi and Bitstamp are fairly in sync, with a fixed currency conversion factor R = ~6.12.
In the following plot, each dot is the ratio of hourly mean prices (L+H)/2 at Huobi and Bitstamp, every day at ~19:30 UTC
On Feb/08 there was sharp and lasting drop at Bitstamp, that had no lating effect on Huobi. The ratio R then jumped to ~6.40.
But then on Feb/10, apparently in the wake of MtGOX's press release, the opposite occurred: Huobi had a sharp persistent drop which had no persistent effect at Bitstamp The ratio R bounced around 6.12 until Feb/15 but then stabilized again at that value, until Feb/23.
On Monday Feb/24, the 10 kBTC dump caused a major drop at Bitstamp, that Huobi did not follow completely. At 19:30 UTC the ratio R was ~6.63. Right now, R is ~6.9.
It appears that, right now, arbitrage trading between Bitstamp and Huobi is not as effective as it used to be. On the other hand, the drop at Bitstamp was clearly generated there, so the partial drop at Huobi was clearly "imported" from Bitstamp.
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