Arbitrage

Today was a good day. I made 8000

Couple hundred.. it means little to me. I'm so pissed this all happened at such an early time in my life. I could have made so much more.

traded 5btc for ltc at 270~ sold at 418 back in btc, btc about to hit 18k

I think I made about 40k internet money

So unreal right now, is this a simulation, am I dead?

Bought at 120 2 days ago.

Would have bought 4 but my bank is acting up.

Plan until end of the week :

>Get a new bank
>Get my passport finished
>Open Gdax
>Finish Studying this weeks crypto info

What else should I do?

you need a loop,
find a coin that is much higher on one exchange, and one that is pretty even in terms of price.
kraken doesn't have good ways to transfer usd, so right now ltc is 16% spread on those two, where btc is only about 4% spread. so i buy ltc on kraken, sell for usd on gdax, buy btc with usd on gdax, then sell btc for usd on kraken, then buy more ltc and send back to gdax to sell

you might ask why I don't just go from btc to ltc and that's because the btc/ltc spreads are different than the combined usd/btc and usd/ltc

although my 10k withdrawal limit on gdax fucks things up so I can only do 2 transfers max per day, ltc from kraken to sell on gdax, then back out to kraken, then back in.

:)

$76,479 USD

Thanks, broski. I'd kiss you.

Thank you friend I have to look into that. Seems to make more sense to me than trying to catch moonrides on alts.

just remember that it takes time to transfer between accounts, and in that time the prices can fluctuate, changing your percentages,
also take heed of deposit and withdrawal limits
proper arbitrage usually means holding both coins on two accounts, buying on one, selling on the other, then rebalancing. the issue is that that limits the potential for gains because you can shuffle as much around at once, and usually applies to situations where you actually want to hold both coins at the same time

good advice, user. i tried to get into kraken earlier but verification is down. gonna screencap this for future use

I've been trying to do this with Binance/gdax, but transferring the BTC back into Binance is taking forever. Either way, bought LTC for 295 and sold for 366. I'd call that a success, even if it takes a couple hours to process.

>only $7000
What are you, some kind of poorfag?

also, these kinds of percentages are not going to be around for long.
also, the spread only gets this big when something is mooning or at the tail end of a big movement and most of the volume is off of one exchange. the reason ltc is so different is because gdax has many times the volume of kraken and so kraken still has a lower price, combine that with the still lackluster trading engine and interface on kraken, and you can see why there is such a delay in price action

IF YOU'RE READING THIS, YOU'VE BEEN IN A COMA FOR ALMOST 20 YEARS NOW. WE'RE TRYING A NEW TECHNIQUE. WE DON'T KNOW WHERE THIS MESSAGE WILL END UP IN YOUR DREAM, BUT WE HOPE WE'RE GETTING THROUGH.

stop please ;; I'm scared, these gains don't seem real

I made 1804 euros

39 cents

Also, I'm out.

GDAX withrdawals are the slowest fucking things
my ETH transfer took 8 hours this morning! That's a ton of room to get justed and it's driving me nuts

Babby's first arbitrage here, I purchased 3 LTC at 300 and trying to sell at GDAX for 350+. Does this sound good?

I did this with 5 LTC either today--also my first round of arbitrage. Seems pretty straight forward. As long as you have the patience for the transfer times, you're good.

I sent 1 LTC to test the waters, how long do you reckon the transaction will take from Binance to GDAX? Im not fussed about the GDAX to Binance transaction as I will be converting the LTC to BTC ASAP

Thank you, how long were the transaction times for you?

I made 2 bitcoins arbitraging LTC/BTC between Wex.nz and GDAX at one point it was .016 while gdax was at .022

Going from Binance to GDAX didn't take very long for me... maybe 20 minutes. Sold for profit almost immediately. Sending BTC back, however, has been taking a couple hours, and still hasn't completed.

I hear that bro, I've been hearing about how GDAX takes forever to process withdrawals. Hope you get it ASAP user

From my hardware wallet to wex.nz my BTC transfer only took 18 minutes because they credit you at 3 confirmations. 6 confirmations only took 36 mins.

So this is not worth it unless i am able to earn back th fees and transaction i guess. How much does that cost?

depends, limit orders and transfers out of gdax are free,
fee's depend on the exhcnage and order type, and then there is also the spread between the coin you are using to transfer back to the starting point.
kraken charges 0.001 LTC flat for transfers out, gdax has free transfers out, and no fees on limit orders, and kraken has 0.16% fee on limit orders on the lowest tier. so with a 17% ltc spread between kraken and gdax, like there is right now, thats
17% minus 4% (btc usd spread) minus 0.5% from two trades on kraken, minus 0.001 LTC from transfer from kraken to gdax, so percentage wise, thats still over 10% gain if the spreads hold as they are.
if you move 10k around and get 10% gain, that's a thousand dollars in the time it takes to execute 4 trades, make one LTC transfer, and one BTC transfer

keep track of what you do though so you can be sure about the numbers

how do you transfer fiat so fast from kraken to coinbase/gdax?

Don't you guys realize proper arbitrage requires holding both sides of the trade on both exchanges?

You don't send anything anywhere

Fucking noobs

I don't transfer fiat to or from kraken, they don't have good options for fiat transfers
my fiat goes into GDAX, takes a bout 7 days to confirm
WHICH BY THE WAY IS THE AVERAGE, so if it takes 7 days to get fiat into coinbase/gdax, that should tell you how much longer this massive run will last, nearly all the volume is from the USA into gdax, and started December 8, which was a friday, BTC futures came out the 10th, and btc was making headlines all that week. assuming normies and average money is funneling in because of the massive press, and assuming the first wave signed up asap on friday after getting home from work, and assuming a 7 day fiat transfer time, we should see the ETH/BTC/LTC bull run peak around the 15th or 16th, about a week after the start, when transfers have cleared. that also coincides well with the next futures launch (CME) on the 18th, so keep an eye out

anyway, I sell LTC for USD on gdax, then buy BTC with USD on gdax, limit orders are free, then use free trasfer to send BTC from GDAX to kraken, Sell BTC into USD on kraken, and buy LTC with USD on kraken, 0.16% fee per limit trade on kraken, then trasfer LTC from Kraken to GDAX for a flat 0.001 LTC fee, and start the loop over again,
main limiting factors are transfer times and deposit/withdrawal limits

I made note of that here
in these markets there are the right conditions that you can do "arbitrage" and so what if it doesn't fit the traditional definition, if I can sell LTC at a 17% premium on one exchange, than buy btc at only 4% premium to send back to the first exchange, that's a hell of a loop

Are the best arbitrage opportunities when there are huge moons of a coin?

What's pissing me off is my fear of missing out.
Pretty new to trading, and now have to wait to be confirmed on a lot of exchanges to be able to do anything

dont buy now. You are the reason the market is going up. Shit probally going to crash soon so i would wait. Then you buy

yes
but the profits from arbitraging moons from different exchanges pale in comparison to actually riding the moon mission
it also depends on the nature of the moon, if a vast majority of volume is coming form one geographic location or exchange there is more potential because things will be unbalanced.
for instance, I put $5k into LTC at $96.54 with the intention of using the faster transfer speeds of LTC to move it to my kraken account. I had a feeling though, so I after the transfer I let my funds sit in LTC over night before moving them into the coins I wanted to trade in and invest. I made about 20% profit the next morning and then moved funds into my coins. f I had held, I would now have over 200% profit.
my arbitrage trades at best have made me 10% per trade, and due to transfer limits I have done a max of 2 rounds of "arbitrage" per day for a max gain of 10% per round, and in reality I've done about 4 or 5 rounds of this, so I had had left 5k in LTC I would have had 10K in profit, not counting initial, so far I have 2 or 3k in profit from throwing 10k around in arbitrage

see:
what I said here
about where the money is coming from and where the peak is likely to be.
futures launch doesn't guarantee we will dip, but all things considered, we could be in for quite the ride

Even if i wanted to, i couldn't. Still unverified

i just sold my btc so i dont want to buy back in till i know this shit is rocketing. I'm really not trying to lose my ass here

>then use free trasfer to send BTC from GDAX to kraken
transfer is free from gdax to kraken? wtf how does that work?

idk about the details, but GDAX is the trading platform side of coinbase. coinbase absolutely RAPES uses on fees for every transaction made, GDAX also has decently high fees on market orders from GDAX, so I'm assuming they use that to fund the free limit orders and transfers on GDAX
they essentially charge coinbase users a premium in exchange for the most user friendly, simplest, easy to use exchange in the north american market, and use some of that premium to give benefits and encourage users on the more technical but still entry level gdax platform, it's actually a brilliant strategy

How come GDAX is so interested in having your passport or drivers licence and a photo of your face? No other exchange asks for this...

Bittrex does it, Bitfinex too i think

0.06 BTC