Bitcoin exchanges => Arbitrage opportunities

[roman.muc]

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.

[bitcoinconnection]

Good site, I was looking at that today. How about transaction fees!

[spruce]

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.

[spruce]

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.

[fassadlr]

I was thinking about looking into this as some point as well Good work on this dude, I'll definitely be using this.

[BubbleBoy]

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.

[killer2021]

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.

[Yankee (BitInstant)]

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!

[kokojie]

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

[spruce]

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.

[kjj]

Appears that the window is now closed.

[roman.muc]

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]

Appears that the window is now closed.

The opportunities seem to persist:
http://www.nyse-group.de/bitcoin-arbitrage

http://www.nyse-group.de/_external_rm/shot_110705.png

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

[kjj]

Consider fees and volume too and you'll see a different story.

[Stephen Gornick]

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]

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.

[Stephen Gornick]

Site displays an error:

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

[kookiekrak]

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

[Jered Kenna (TradeHill)]

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

[lopez cryptomania]

You def. are on the right tracks in profiting from arbitrage. I believe in this ICO bc they are aiming to make crypto easier to enter for all with their novice friendly UI and the first ever arbitrage exchange that will allow for less market volatility which keeps so many inexperienced and afraid people on the sidelines. Arbitrage with a legit company will provide a greater opportunity to profit in this economy.

https://bitcointalk.org/index.php?topic=3085831.msg31823480#msg31823480