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Author Topic: Bitcoin exchanges => Arbitrage opportunities  (Read 3716 times)
roman.muc
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June 27, 2011, 10:28:18 AM
 #1

Hello,

sometimes it seems possible to buy BTC at one exchange and sell it immediatetely at another one, making some arbitrage profit.
Of course, we have to take differences in the currency exchange rates into consideration, too.
Therefore I have launched a site showing those arbitrage opportunities:

http://nyse-group.de/bitcoin-arbitrage

What do you think about it?
Comments/suggestions are appreciated!
Have fun,
Roman.
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bitcoinconnection
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June 27, 2011, 10:37:10 AM
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Good site, I was looking at that today. How about transaction fees!

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June 27, 2011, 10:41:46 AM
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I've traded at both Mt Gox and Britcoin. The volume at Britcoin is about 1% of that at Mt Gox. The arbitrage looks great in theory, but if you offer a trade at the market rate it can literally take hours to complete on Britcoin even if it is only for 5 BTC.

If you only want to do arbitrage with small amounts like .1 BTC then it should work. It might work out, but it's not as clear as it looks because of the tiny volume.
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June 27, 2011, 10:43:01 AM
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Good site, I was looking at that today. How about transaction fees!

Gox is .65%. Britcoin is 0 [sic] for now. Don't know about the others.
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June 27, 2011, 10:47:12 AM
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I was thinking about looking into this as some point as well Smiley Good work on this dude, I'll definitely be using this.
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June 27, 2011, 11:02:11 AM
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Don't forget the currency exchange spread, and the forex risk you accept (if you sell for GBP and buy for USD, it might make you an initial profit, but not if the GBP drops in relation to the dollar).
A bit of arbitrage would make the market look more professional, and provide liquidity to other BTC-currency pairs. Expect the arbitrage windows to drop to pennies pretty soon.
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June 27, 2011, 11:10:06 AM
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Don't forget the currency exchange spread, and the forex risk you accept (if you sell for GBP and buy for USD, it might make you an initial profit, but not if the GBP drops in relation to the dollar).
A bit of arbitrage would make the market look more professional, and provide liquidity to other BTC-currency pairs. Expect the arbitrage windows to drop to pennies pretty soon.

Its possible to make money in arbitrage but you have to use software to do it successfully. You use to use software because you have to factor in every measurable variable. Such as the forex risk, fees, processing time etc.

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Yankee (BitInstant)
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June 27, 2011, 01:23:30 PM
 #8

Hello,

sometimes it seems possible to buy BTC at one exchange and sell it immediatetely at another one, making some arbitrage profit.
Of course, we have to take differences in the currency exchange rates into consideration, too.
Therefore I have launched a site showing those arbitrage opportunities:

http://nyse-group.de/bitcoin-arbitrage

What do you think about it?
Comments/suggestions are appreciated!
Have fun,
Roman.

Thats actually a really good chart for seeing the balance between exchanges.
I will use this

Thanks man!

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June 27, 2011, 01:33:05 PM
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you have to take fees into consideration, only when the difference is more than the fees added together, is worth it.

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June 27, 2011, 03:17:03 PM
 #10

you have to take fees into consideration, only when the difference is more than the fees added together, is worth it.

It's only worth it if you can actually complete the trades at those prices in the volume you want. Mt Gox is relatively easy because of the high volume. But take a look at Britcoin, for instance, and examine their order book to see what open offers there are. You can check that without having an account or logging in.

I've done some trading at Britcoin and it works well. I believe there may be up to a minute's delay before your order gets into the mix. Twice now I've somehow managed to double place an order, so do check in your profile and examine your open orders to make sure they are what you intend! If you cancel an unwanted one it happens immediately.
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June 27, 2011, 04:23:16 PM
 #11

Appears that the window is now closed.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
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roman.muc
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June 27, 2011, 10:10:52 PM
 #12

Appears that the window is now closed.

Currently I can see the following opportunities:

b7USD => britcoinGBP
1. Buy 1 BTC at b7USD for 16.2 USD
2. Sell 1 BTC at britcoinGBP for 16.95 USD
3. Win the difference (0.75 USD)

b7USD => thUSD
1. Buy 1 BTC at b7USD for 16.2 USD
2. Sell 1 BTC at thUSD for 16.9 USD
3. Win the difference (0.7 USD)

b7USD => bitomatPLN
1. Buy 1 BTC at b7USD for 16.2 USD
2. Sell 1 BTC at bitomatPLN for 16.72 USD
3. Win the difference (0.52 USD)

I am not sure that the "window is now closed".
How should that have happened? Someone using an automated arbitrage software?
roman.muc
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July 05, 2011, 05:59:34 PM
 #13

Appears that the window is now closed.
The opportunities seem to persist:
http://www.nyse-group.de/bitcoin-arbitrage



Source:  http://www.nyse-group.de/bitcoin-arbitrage
kjj
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July 05, 2011, 06:26:36 PM
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Consider fees and volume too and you'll see a different story.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
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Stephen Gornick
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July 18, 2011, 05:14:42 AM
 #15

Site displays an error:

Warning: Invalid argument supplied for foreach() in /kunden/176110_86637/nyse-group/joomla1.6/_external_rm/index_btc.php on line 46

coingenuity
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July 18, 2011, 09:30:36 AM
 #16

Thought I'd let you guys know.....I wrote an automated arbitrage bot but no exchanges besides MtGox have a decent enough API to allow arbitrage trades without cookie-spoofing and manual postdata submission. Doable, and profitable, but a big pain.

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July 19, 2011, 12:17:32 AM
 #17

Site displays an error:

The issue appears to have been resolved.
  - http://www.nyse-group.de/bitcoin-arbitrage

kookiekrak
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July 19, 2011, 12:20:53 AM
 #18

arbitrage always looks good on paper.

consider the trading fees, the cash withdrawl + deposit fees, the low volumes and you'll actually lose money trying to trade this

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Jered Kenna (TradeHill)
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July 19, 2011, 12:34:30 AM
 #19

Hello,

sometimes it seems possible to buy BTC at one exchange and sell it immediatetely at another one, making some arbitrage profit.
Of course, we have to take differences in the currency exchange rates into consideration, too.
Therefore I have launched a site showing those arbitrage opportunities:

http://nyse-group.de/bitcoin-arbitrage

What do you think about it?
Comments/suggestions are appreciated!
Have fun,
Roman.

Hi Roman,

Interesting post ... love the site.

There are cross currency arbitrage opportunities on our exchange. In the last few weeks coins have been bought/sold in our AUD, CLP, LR, and INR BTC trading rooms at discounts/premiums of up to 50% of the USD/BTC price. Arbing is pretty easy since we provide all the currencies on one platform. The volumes outside of USD are low right now - but growing - so get in before it’s too late!

Perhaps we should dig up data on this and post it ... could be interesting.

Thanks,
Adam

moneyandtech.com
@moneyandtech @jeredkenna
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