Hey folks,
Finally I got some time for daytrading instead of just HODLing and I doing some research on if it is really worth to trade BTC across multiple exchanges when the price differences are large enough.
For example when 1 BTC was on 17170$ on Bitthumb while it was under 16500$ on Bitstamp, I did some calculations:
test amount: 0.0035 BTC -> Bitthumb price: 61$, Bitstamp price: 57$
Bitthumb sell price: 0.35607801 LTC
LTC/BTC bitthumb -> 0.009794
LTC/BTC bitstamp -> 0.00977237
Bitstamp re-buy price: 0.003507 BTC -0.25 % fee = 0.003419325 LTC
Bitstamp was on 16k something but the calculations show it does not worth it, if you consider that some exchanges even have withdraw/deposit fees not just exchange fees.
What are your experiences regarding this? Does it worth to do and if so on which exchanges?
Bitstamp might not bee the best example with it's huge 0.25% fee but when there is 6k difference in price between 2 exchanges it worth looking into moving funds from one another selling it for another currency like ETH or LTC, moving back the amount to the previous exchange and rinse and repeat
