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Author Topic: Arbitrage opportunities  (Read 3418 times)
nmat
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January 03, 2012, 09:52:48 PM
 #1

I have been doing automated arbitrage at some of the top USD exchanges, but the opportunities are very rare nowadays. The prices at TradeHill and MtGox now move almost at the same time.

So I decided to create this thread to share experiences with other people that are also doing arbitrage. Does anyone have any tips or do you know about exchanges that are not as efficient? Maybe the USD/EUR/GBP bitcoin market has more interesting opportunities?
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epetroel
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January 03, 2012, 09:57:43 PM
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Agreed, seems like arbitrage opportunities are pretty thin, especially between Gox and Tradehill.  I've been having some luck in the GBP/EUR markets, but those have other problems.  For one, it is much harder to move GBP and EUR between exchanges.  Also, the EUR market seems to be consistently overpriced.  I suppose if you wanted Euros that would be a good thing, but otherwise not so much.
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January 03, 2012, 10:02:41 PM
 #3

I've been doing some arbitrage on the almost abandoned Ruxum. There was somebody buying nearly 100btc for 6.45usd! There's still a bid of 100btc at 5.2usd left, but I ran out of coins.

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epetroel
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January 03, 2012, 10:08:27 PM
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I've done a bit of manual arbitrage on Ruxum as well, but the fact that they don't have an API makes it kind of pointless for me.  Also, their fees for getting money in and out are pretty ridiculous (same reason I'm not trading at CryptoX yet).

I get an uneasy feeling that Ruxum will just drop off the map soon as well...
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January 03, 2012, 10:17:09 PM
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I've done a bit of manual arbitrage on Ruxum as well, but the fact that they don't have an API makes it kind of pointless for me.  Also, their fees for getting money in and out are pretty ridiculous (same reason I'm not trading at CryptoX yet).

I get an uneasy feeling that Ruxum will just drop off the map soon as well...

Crypto now supports BitInstant so it's much cheaper to get money in. You can also deposit Mt.Gox codes at crypto so you can get USD from Gox over to Crypto with zero fee (and you can use Bitinstant to get USD from Crypto back to gox for about 1%)
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January 03, 2012, 10:23:35 PM
 #6

Having the right funds in the right place at the right time.  Also, patience is necessary.

General observation is that newer exchanges have the better opportunities than the larger/more established exchanges, and that some currencies are better than others (libertyreserve dollars for instance).
epetroel
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January 03, 2012, 10:26:10 PM
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Crypto now supports BitInstant so it's much cheaper to get money in. You can also deposit Mt.Gox codes at crypto so you can get USD from Gox over to Crypto with zero fee (and you can use Bitinstant to get USD from Crypto back to gox for about 1%)

Didn't realize you could deposit Mt. Gox codes at crypto directly for no fee.  That is a big plus.  I have used BitInstant on a number of occasions to go from Gox to Tradehill, but even at 1% the fees are usually too high to make sense.  The profit margin from arbitrage is hardly ever over the 1% required to cover the transfer.
koin
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January 03, 2012, 11:55:56 PM
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good to learn the markets are becoming more efficient.

bitstamp has a code that functions in the same way as a mt. gox code / crytpo x coupon in that transfers between customers are possible: http://en.bitcoin.it/wiki/BitStamp#Internal_transfers perhaps that's another method useful when moving funds for arbitrage?
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January 03, 2012, 11:58:32 PM
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Though the depth is pretty thin, BTC-e.com is a step behind on big movements. It's good for a handful of coins/USD.

nmat
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January 04, 2012, 01:07:20 AM
 #10

Thanks epetroel, I think I am going to check out some non-usd markets. And you're right, the opportunities above 1% are not common.

I looked at btc-e and I don't really know why but I don't feel very comfortable letting my money sit in there.
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January 04, 2012, 01:20:00 AM
 #11


I looked at btc-e and I don't really know why but I don't feel very comfortable letting my money sit in there.

I agree for large sums. I keep about 20 BTC there for such instances. Unfortunately, I do not have USD there ATM. Their market has been steadily increasing in size/volume, and may be an up and coming option.

epetroel
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January 04, 2012, 03:53:31 PM
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I looked at btc-e and I don't really know why but I don't feel very comfortable letting my money sit in there.

+1, I feel the same way.  Something just feels a bit shady about that exchange.
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January 04, 2012, 04:06:21 PM
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I've done a bit of manual arbitrage on Ruxum as well, but the fact that they don't have an API makes it kind of pointless for me.  Also, their fees for getting money in and out are pretty ridiculous (same reason I'm not trading at CryptoX yet).

I get an uneasy feeling that Ruxum will just drop off the map soon as well...

Crypto now supports BitInstant so it's much cheaper to get money in. You can also deposit Mt.Gox codes at crypto so you can get USD from Gox over to Crypto with zero fee (and you can use Bitinstant to get USD from Crypto back to gox for about 1%)

Thats great to hear. Crypto x change really seems good.
We really need trade at more exchanges than MT.Gox its not good with only one huge market.
In case something happens to them.

Though they have done much for the bitcoin community and continue to do so.


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EuSouBitcoin
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January 04, 2012, 06:59:45 PM
 #14

On CampBX there are 375 BTC offered at $5.31. Currently $5.509 Bid on Mt Gox. That looks like a nice buy at $5.31 on CampBX if you have some USD on CampBX or can move some quickly from Dwolla.
nmat
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January 04, 2012, 07:20:05 PM
 #15

On CampBX there are 375 BTC offered at $5.31. Currently $5.509 Bid on Mt Gox. That looks like a nice buy at $5.31 on CampBX if you have some USD on CampBX or can move some quickly from Dwolla.

Yeah, there were some nice opportunities today. That used to be a 500 BTC order Wink Unfortunately I don't have more USD at CampBX.

EDIT: the order is gone now
Nejc Kodric (BitStamp.net)
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January 11, 2012, 04:27:46 PM
 #16

Hello

I would like to announce that BitStamp exchange will soon be supported by BitInstant.

Best regards,
Nejc Kodric
www.BitStamp.net
Questions? -No problem! Mail me nejc.kodric@bitstamp.net

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Trade USD to BTC in EU SEPA
Follow us on Twitter: http://twitter.com/Bitstamp
RodeoX
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January 11, 2012, 07:36:08 PM
 #17

I have also noticed how hard it has become to make a buck at arbitrage. Could it just be competition? The more people and bots trying to take advantage of differing prices, the less opportunities there are. That was my guess.

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DublinBrian
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June 21, 2012, 12:36:45 PM
 #18

There is now a €0.30 difference in the price between MtGox and Intersango. 

Can some of you european miners or bitcoin sellers  please sell your coins on Intersango instead of MtGox. There is a shortage on bitcoins for sale on Intersangos euro market.
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June 21, 2012, 12:53:20 PM
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There is now a €0.30 difference in the price between MtGox and Intersango. 

Can some of you european miners or bitcoin sellers  please sell your coins on Intersango instead of MtGox. There is a shortage on bitcoins for sale on Intersangos euro market.

That's interesting.  That may be why that huge wall is on MtGox.  Its owner may be speculating that Intersango's prices will compel people to buy into his wall, and thus allow him to sell such a large amount at a price he wants without slippage.
DublinBrian
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June 21, 2012, 01:26:50 PM
 #20

There is a major shortage of bitcoins on Intersangos euro market.

https://intersango.com/orderbook.php?currency_pair_id=2

A purchase of just 200 BTC will drive the price to €6. Compare that to MtGox where there are 23,000 BTC for sale at €5.44

If this persists Im going to have to withdraw all my funds from Intersango and send them to Gox, which is a pain in the ass, because Intersango is much easier to use. You dont have to send copies of your id and proof of address to Intersango. Gox is being hobbled by the US banking cartel and I dont want to deal with them.
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