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Author Topic: New arbitrage site?  (Read 292 times)
thirdprize
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December 09, 2017, 11:31:16 AM
 #1

Would there be much call for one?  I googled it and there didn't seem to be any sites, just bots.  Would it be popular?  I am guessing you need a LOT of coin to invest if you are playing the % game. 

What i'm imagining wouldn't do the deals but it would tell you the cheapest route from one coin to another.  It would have amounts and links to the exchange pages to do the deals.  Maybe free and paid tiers.

What would you expect to see?  Which exchanges?  Which coins?
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December 09, 2017, 08:08:35 PM
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It seems like everything will depend on the design and usability of this website. Right now you can already open a coin's page on coinmarketcap and see if there is any opportunities for arbitraging this coin. Website gona be cool if for example it will choose the best options with the most legit exchanges, of it will have a profit calculator with all fees and so on.
P.S. If it will get popular then there will be so many people trying to arbitrage that all rates may become almost equal at one day.

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December 09, 2017, 09:40:34 PM
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It seems like everything will depend on the design and usability of this website. Right now you can already open a coin's page on coinmarketcap and see if there is any opportunities for arbitraging this coin. Website gona be cool if for example it will choose the best options with the most legit exchanges, of it will have a profit calculator with all fees and so on.

Can't see it but I'll take yr word for it. 

So if you have USD and want BTC, you enter those and how much USD/BTC you have/want.  If ETH is the cheapest option then it says buy x amount of ETH (inc fees) and then swap that for y amount of BTC (inc fees).  It can probably do links to the pages for each stage.  I suppose you may want to limit it to exchanges you have an account at and mid to high volume coins. 

Question, which are the most popular exchanges?
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December 09, 2017, 10:35:46 PM
 #4

I use cryptopia for arbitrage trading. They have a nice overview to all coins on one single site, so that there is no need for me to use a service or search manually each pair. But there is an aspects, that needs to be considered. If there is a low trade volumen, the prices may be missleading.
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December 09, 2017, 10:41:05 PM
 #5

If you're looking for arbitrage look for leading exchanges. Bithumb is one of those right now and they have been pulling Bitcoin up this past week while other exchanges followed.
If you have the leader with high prices look for an exchange with much smaller volume, possibly one of the local ones in your country. Such exchange will always fall behind because of the volume. You can buy there cheap when the price is going up on the leading exchange and if you're lucky it will go even higher by the time your coins reach it.

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December 09, 2017, 11:06:30 PM
 #6

Can't see it but I'll take yr word for it. 

So if you have USD and want BTC, you enter those and how much USD/BTC you have/want.  If ETH is the cheapest option then it says buy x amount of ETH (inc fees) and then swap that for y amount of BTC (inc fees).  It can probably do links to the pages for each stage.  I suppose you may want to limit it to exchanges you have an account at and mid to high volume coins. 

Question, which are the most popular exchanges?
Hmm... sounds complicated but pretty attractive.. Not sure if there will be any benefit from usd-eth-btc purchase but i think that it worth trying to check it. You can find the most popular exchanges on coinmarketcap. Just track ones with decent volume so the coins won't stuck during the arbitraging.

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December 10, 2017, 03:57:18 AM
 #7

Would there be much call for one?  I googled it and there didn't seem to be any sites, just bots.  Would it be popular?  I am guessing you need a LOT of coin to invest if you are playing the % game. 

What i'm imagining wouldn't do the deals but it would tell you the cheapest route from one coin to another.  It would have amounts and links to the exchange pages to do the deals.  Maybe free and paid tiers.

What would you expect to see?  Which exchanges?  Which coins?

My grudge against arbitrage alerts currently is that there are just so many things that are causing teh arbitrage opportunity to exist in the first place, or otherwise people would have already taken advantage of that particular opportunity.

For example if i see a huge spread between yobit's pricing of a particular coin and liqui's pricing, then i get really excited. But then i realise that the wallet is disabled on yobit's side meaning that i can't do anything about it anyways.

I would suggest just excluding unstable exchanges such as yobit. Also, exclude fiats since that rarely works in arbitrage.


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CyberKuro
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December 10, 2017, 05:05:32 AM
 #8

So if you have USD and want BTC, you enter those and how much USD/BTC you have/want.  If ETH is the cheapest option then it says buy x amount of ETH (inc fees) and then swap that for y amount of BTC (inc fees).  It can probably do links to the pages for each stage.  I suppose you may want to limit it to exchanges you have an account at and mid to high volume coins. 

Question, which are the most popular exchanges?

Arbitrage trading can works if you can deposit fiat currency on some exchanges but not all of them accept USD, for example;
The new ATH come from Korean Exchanges which listed bitcoin worth over $22,500 a few days ago, while in the US bitcoin worth less than $16,000.
Yes, you can send bitcoin to Bithumb and then sell it but you can't convert it into the dollar or withdraw it to your bank account. Unless you wait until bitcoin price falls down and then buy back again and withdraw bitcoin.
https://coinclarity.com/exchange/bithumb/
magneto
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December 10, 2017, 07:36:34 AM
 #9

Would there be much call for one?  I googled it and there didn't seem to be any sites, just bots.  Would it be popular?  I am guessing you need a LOT of coin to invest if you are playing the % game. 

What i'm imagining wouldn't do the deals but it would tell you the cheapest route from one coin to another.  It would have amounts and links to the exchange pages to do the deals.  Maybe free and paid tiers.

What would you expect to see?  Which exchanges?  Which coins?

Actually there is a site called cryptocoincharts that also allow you to view the available arbitrage opportunities on the market. I do recall checking it out a while ago but i also remember that there was pretty much nothing special about the site.

I would argue that a bot would work much better as arbitrage opportunities are real time and monitoring a page would be extremely hard.

Though even if you use a bot, the profits are quite thin. The max you'll probably get is a 10% edge with a maximum of $500 or so, but the transaction fees alone will take away greatly on that.

thirdprize
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December 10, 2017, 04:55:23 PM
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I would argue that a bot would work much better as arbitrage opportunities are real time and monitoring a page would be extremely hard.

Though even if you use a bot, the profits are quite thin. The max you'll probably get is a 10% edge with a maximum of $500 or so, but the transaction fees alone will take away greatly on that.

Bots would probably make better traders than we would as well, but where is the fun in that?

In this community, what would the main use of arbitrage be?  Trade x,y and z to end up with more x then you started off with?  Trade x and y to get a good deal on z?  Any other use cases? 

From the other sites I looked at, they say what the coin is trying for on different exchanges but anything more than that required a pen and paper.
thirdprize
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December 11, 2017, 01:06:44 PM
 #11

I could always do a bot afterwards, if it actually works out.
cynical
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December 11, 2017, 02:39:17 PM
 #12

in theory i think this would be a very good trading asset assuming it would be more than an alert type of site.
A full trading capable site would be very beneficial but difficult to create I suspect.
There is definitely a gap in the market for it.
For example I would pay a percentage in order to take advantage of some token gains.

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thirdprize
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December 11, 2017, 03:38:45 PM
 #13

in theory i think this would be a very good trading asset assuming it would be more than an alert type of site.
A full trading capable site would be very beneficial but difficult to create I suspect.
There is definitely a gap in the market for it.
For example I would pay a percentage in order to take advantage of some token gains.


That's the thing, I wouldn't really want the hassle and responsibility of storing peoples money for trading purposes.  Too likely to get hacked.  Might try doing the site with eye to getting brought up.  Wink
thirdprize
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December 24, 2017, 04:28:18 PM
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And ??
tora
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December 24, 2017, 07:57:29 PM
 #15

Important to remember difference between trading and arbitrage. Problem with arbitrage is the time taken to exchange between sites. Price can change before first exchange takes place. Also fees can eat into profits.
thirdprize
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December 29, 2017, 12:41:05 AM
 #16

I was going to start with just one exchange and just check the possibilities on there.  I can’t think you could make any money if you had to withdraw from one exchange and deposit on another, what with transaction fees.  I think I know how the algorithm would work.  It’s all about getting a POC working.
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December 30, 2017, 04:22:58 AM
 #17

Would there be much call for one?  I googled it and there didn't seem to be any sites, just bots.  Would it be popular?  I am guessing you need a LOT of coin to invest if you are playing the % game. 

What i'm imagining wouldn't do the deals but it would tell you the cheapest route from one coin to another.  It would have amounts and links to the exchange pages to do the deals.  Maybe free and paid tiers.

What would you expect to see?  Which exchanges?  Which coins?

Cryptopia can show you where to find some arbitrage opportunities  , but it's not easy and not worth it
you have to keep the pair in two exchanges and keep staring at the screen , cause most opportunities won't last long so if you send the tx and wait most likely you won't be able to arb when the tx is confirmed

also sometimes there are false alarms where you can find a cheap coin in an exchange and then you find out that you can't withdraw it , for example at the moment CLAM is super cheap at yobit but you can't withdraw it so you end up losing your btc for a coin that you can't move

it's just my personal experience , some users may be able to profit from arbitraging coins but that never worked with me

thirdprize
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January 03, 2018, 10:44:21 AM
 #18

Would there be much call for one?  I googled it and there didn't seem to be any sites, just bots.  Would it be popular?  I am guessing you need a LOT of coin to invest if you are playing the % game. 

What i'm imagining wouldn't do the deals but it would tell you the cheapest route from one coin to another.  It would have amounts and links to the exchange pages to do the deals.  Maybe free and paid tiers.

What would you expect to see?  Which exchanges?  Which coins?

Cryptopia can show you where to find some arbitrage opportunities  , but it's not easy and not worth it
you have to keep the pair in two exchanges and keep staring at the screen , cause most opportunities won't last long so if you send the tx and wait most likely you won't be able to arb when the tx is confirmed

also sometimes there are false alarms where you can find a cheap coin in an exchange and then you find out that you can't withdraw it , for example at the moment CLAM is super cheap at yobit but you can't withdraw it so you end up losing your btc for a coin that you can't move

it's just my personal experience , some users may be able to profit from arbitraging coins but that never worked with me

If you keep it all in one exchange you could probably fire off the required buys and sells automatically  as soon as an opportunity comes up.  I see it as choosing a source coin , a destination coin and an amount.  As soon as it sees an opportunity it starts trading for you.  If you give it permission it can do that.  You would be talking seconds rather than minutes.

My first task is to get a days worth of trading prices and see how many opportunities come up.
thirdprize
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February 03, 2018, 12:05:29 PM
 #19

Think I have the basics of the thing working.  Just got to get a lot of data and do some testing to see how frequently you can make a profit on trading.  If it's a couple of times a day then its probably not worth it but if its more frequent then I will run with it.  Then its just automating the trades.  Simples.
thirdprize
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February 09, 2018, 11:08:42 AM
 #20

Currently it only works with HitBTC.  Anyone want to help out with the beta?  Message me.
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