I was thinking of creating a simple arbitrage bot that sell/buy from 2 exchanges based on the price difference between best bid/ask price. I have minimal programming knowledge..is it a daunting task? Thanks for the help.
Cryptocurrencies arbitrage isn't profitable anymore ayway, unless you are highly experienced in arb systems and c++ and know how to trade with extremely low latency bots that can outperform the domestic bots working on the exchanges servers(certainly not the junk sold in the retail); and even then it would require months of develoment and 24/7 monitoring of the activity and constant adjustements of strategies and updates by developers as it a highly competitive business in a perpetual race. you will be trading margins under 0,3%
The arbitrage ship has already sailed months / years ago, as the market as grown increasingly competitive and aggressive, and is now flooded under bots
You'd better educate yourself and try your luck with mid-long term trading strategies which have been yielding solid returns until now, rather than trying this near zero profit business only accessible to the most advanced and well funded traders
You could just have bought ETH and hold for the past months and made 30x what you have done doing crappy amateur arbitrage
