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Topic: MtGox <-> Btc-e arbitrage ~3% profit (Read 22558 times)

arsenische (OP)

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MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 02:21:49 PM
Last edit: April 09, 2013, 02:34:11 PM by arsenische

#1

I've noticed that the price difference between MtGox and BTC-e is often greater than 7%. But it takes only ~3% to transfer funds from MtGox to Btc-e.

So you can sell bitcoins for USD at MtGox, transfer funds to BTC-e and buy cheaper bitcoins there thus making ~3% with minimal risks.

The easy way of transferring funds from MtGox to Btc-e is OKPay. I noticed that transfers may take from several minutes to couple days though, so it might be a good idea to make reserves of USD at BTC-e before placing your buy and sell orders.

Minimizing the interval between buys and sells you minimize your risks. Though it might be a good idea to make sure that sell order at MtGox executes before placing your buy order at btc-e since sometimes MtGox is really slow.

Why am I writing all this? Just hoping to get some passive income via OKPay's referral program. So if you find this advise useful, please use my link to get registered: https://www.okpay.com/?rbp=arsenische

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antibanker

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 02:24:00 PM

#2

what do you mean with "minimal risk" ?

arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 02:32:23 PM

#3

That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 03:15:04 PM

#4

Quote from: arsenische on April 09, 2013, 02:32:23 PM

That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though

Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it.

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arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 03:16:47 PM

#5

Quote from: Remember remember the 5th of November on April 09, 2013, 03:15:04 PM

Quote from: arsenische on April 09, 2013, 02:32:23 PM

That means you make orders in opposite directions almost simultaneously and don't care if the price goes up or down. I can't give the numbers though

Are USD transfers from Gox to Btc-e fast enough? Even an hour at this volatile price makes everything not worth it.

As I said, it takes from several minutes to several hours. So it is nice to have USD reserves in BTC-e. Well... I assume people don't put all their savings in bitcoin, just part of them.

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 03:19:25 PM

#6

Personally, I do not use Gox anymore. All this AML verification, sending documents and whatnot. Not worth it imo.

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arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 03:54:20 PM

#7

Yes, but still it is the most liquid exchange... Btw, Okpay requires documents too. But it processes them much quicker than MtGox

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genuise

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 06:32:58 PM
Last edit: April 09, 2013, 09:40:31 PM by genuise

#8

In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

bitcoin-analytics.com charts and arbitrage opportunities real-time, free access to consolidated allUSD, allEUR, allCNY, allAUD, allGBP, allPLN, allRUR, allCAD and more charts, full access 0.001 BTC Bitrated user: Genuise.

arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 07:33:45 PM

#9

Quote from: genuise on April 09, 2013, 06:32:58 PM

In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

So how much arbitragers are making per day nowadays?

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arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 07:40:55 PM

#10

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 08:33:30 PM

#11

Quote from: arsenische on April 09, 2013, 07:40:55 PM

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 09:11:03 PM

#12

Quote from: Furyan (Guildminers) on April 09, 2013, 08:33:30 PM

Quote from: arsenische on April 09, 2013, 07:40:55 PM

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

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genuise

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 09, 2013, 09:44:04 PM

#13

Quote from: arsenische on April 09, 2013, 07:33:45 PM

Quote from: genuise on April 09, 2013, 06:32:58 PM

In fact actuall arbitrage between mtgox and btce and many others is visible in paid version of bitcon-analytics.com/#arbitrage for last 24 hours in real time.

So how much arbitragers are making per day nowadays?

You can have some understanding of it with free version of the bitcoin-analytics.com/#arbitrage which shows 6 hours delayed data.

bitcoin-analytics.com charts and arbitrage opportunities real-time, free access to consolidated allUSD, allEUR, allCNY, allAUD, allGBP, allPLN, allRUR, allCAD and more charts, full access 0.001 BTC Bitrated user: Genuise.

Furyan

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 03:25:42 AM

#14

Quote from: arsenische on April 09, 2013, 09:11:03 PM

Quote from: Furyan (Guildminers) on April 09, 2013, 08:33:30 PM

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

Well, I feel like an idiot. Added. Question - how long did it take for them to validate yours as a withdrawal method? I'd really love to take advantage of the current spread between the two...

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 06:32:00 AM

#15

Quote from: arsenische on April 09, 2013, 09:11:03 PM

Quote from: Furyan (Guildminers) on April 09, 2013, 08:33:30 PM

Quote from: arsenische on April 09, 2013, 07:40:55 PM

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.

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arsenische (OP)

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 06:59:06 AM

#16

Quote from: frozen on April 10, 2013, 06:32:00 AM

Quote from: arsenische on April 09, 2013, 09:11:03 PM

Quote from: Furyan (Guildminers) on April 09, 2013, 08:33:30 PM

Quote from: arsenische on April 09, 2013, 07:40:55 PM

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.

Did you try bank transfer option?

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 07:03:26 AM

#17

Quote from: arsenische on April 10, 2013, 06:59:06 AM

Quote from: frozen on April 10, 2013, 06:32:00 AM

Quote from: arsenische on April 09, 2013, 09:11:03 PM

Quote from: Furyan (Guildminers) on April 09, 2013, 08:33:30 PM

Quote from: arsenische on April 09, 2013, 07:40:55 PM

Quote from: 01BTC10 on April 09, 2013, 07:35:07 PM

Good luck moving USD from MtGox to BTC-E with low fee and faster than bitcoin rise.

If you have reserves on both exchanges, speed is not that important. You can transfer funds from BTC-e to MtGox with 0% fee via AurumXChange. But why would you do it?

Normally bitcoins are cheaper at BTC-e, so you want to move USD in opposite direction.

Unfortunately AurumXChange doesn't always allow to transfer funds from MtGox to Btc-e (and it will be impossible to withdraw with MtGox code soon), that's why I recommend OKPay here. OKPay also offers both plastic and virtual debit cards, that could be convenient for international MtGox users (who can't use Dwolla to withdraw funds).

Am I missing something? There's no way to withdraw USD from MtGox into OKPay. If you have some way that isn't obvious, please do share.

https://mtgox.com/trade/funding-options -- from this page I was able to add OKPay as withdraw method for USD.

This does not appear to work for me.

Did you try bank transfer option?

Oh look, there it is. Thanks!

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 02:22:28 PM

#18

At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 02:26:03 PM

#19

That's a situation when you could move the money back to btc-e. Even with a loss, it might make sense...

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Re: MtGox <-> Btc-e arbitrage ~3% profit

April 10, 2013, 02:42:20 PM

#20

Quote from: Rishodi on April 10, 2013, 02:22:28 PM

At the moment the price spread between the BTC-e ask ($243) and the MTGox bid ($246) is just 1.2%, making arbitrage non-profitable.

At 4am last night, you would have saved $15 per coin.. it varies by time of day. The margin needs to be at least 7% to be profitable and that's just to cover the fees to move money and coins between the two..

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