LTC Arbitrage --> Binance/Bittrex to GDAX

the spread was wide open last night, after the normie rush
everyone saw it

I'm just going to hold any gains in BTC and ride out the alt shitstorm that is probably looming.

Yeah, I'm kind of late to it. It's such a basic principle, so I'm surprised that things aren't locked down more.

Not sure why Coinbase would stop it, though.. I have paid them fucking $250 in fees for doing basically nothing.

Arbitrage isn't illegal you idiot.

Thank you bigdickmcgee... hey, look, our colors are the same! I guess we are on the same network...?

missing nothing. classic arbi. good play. take out some cash for short term cap gains.

only bad risk is a tank of btc before you can get your tax cut usd.

why wouldnt this work now? thinking of doing it with 2 btc

That's the fucking point retard.

I and OP have made upwards of $7k on this today and I still have a tiny amount left.

I want the spread to close.

free money doesn't last for this long

you lose all your profits if you want to get that money back to binance

What I'm saying is OP isn't blowing any secret. The arbitrage opportunity was obvious to everyone last night. There were even threads on it.

no, he can just hold his btc in place for later if he trusts btc pricing, or cash out. his profits arent going anywhere if he locks in.

Couldn't you, in theory, simply withdraw fiat from coinbase while buying more LTC/ETH using a credit card from another fiat exchange such as gatehub, then transferring it back to coinbase and withdrawing again

Sure, you'd have to have capital to begin with and the withdraws will take awhile, but it's straight profit even after the fees with such a wide gap

Wait... i also made 7k...

Only I used:
-Buy ltc on bittrex
-send ltc to gdax
-sell ltc for bitcoin on gdax
-buy ether for bitcoin

BTC price is consistently 5-10% less on binance than GDAX. If he wants to use that exchange again he'll be losing money.

yes as long as the arbi spread is there and whatever coinbase's rules are dont upset
when the spread closes OP might be caught with his pants down and locked into LTC if hes making a big play for the day, but oh well

Yes yes... but how do you get the funds to binance in the first place? You have to buy your btc from somewhere.

I'm the second guy above and I actually used arbitrage from Korean exchanges to Gdax, but the amount was still 7k.

If you actually also made exactly 7k today too, then it's strange that we're all dealing with similar portfolio.

How do you buy LTC on Bittrex? Like how do you get fiat over there to turn a profit?

how long does it take to transfer buttcoin

stop bringing attention to this moron. thats why things stop working

I tried to do this, but GDAX coin fucking asswipeBASE wouldn't function properly, so I couldn't get verified. Now I've tried "too many" times and have to wait 24 hours for a retry. What a shithole

That's USDT to USD isn't it?
Not quite arbitrage since USDT is consistently different from USD.

yes but the altcoin pairings are directly tied to this

essentially your BTC is worth less no matter how you slice it

>hurr durr no 2 systems of equations can have the same solution(s)

Like I said above, some of us have moved upwards of 100k through this today and would very much like the spread to close now.

Is this why I cant withdraw LTC on coinbase?

This

thought about this too. last night

how difficult is a bittrex account to make?

Wow I also made 7k today doing the same shit wtf you guys can’t be serious??

for example:

I have 50k on binance right now

the ETH to BTC ratio is 0.00375

on GDAX the ratio is 0.004

that is a 7% difference

if I buy eth on binance and sell it on gdax for BTC I have to keep that BTC on gdax

if I try to send the BTC back to Binance it is worth 1200 dollars less

>I want the spread to close
literally a faggot

WTF shut the fuck up gaylord.

What the actual fuck dude? I feel like we're living in a stimulated reality because a few minutes ago I had cashed out the $7k I made today as well??

wow took so long untill finally pointed this out ..

I didn't say you didn't make 7k nor that you're larping for fuck's sake. I just said it's strange we all made almost exactly the same amount, asshole

Fuck off. While Veeky Forums holds shitcoins, I look for arbitrage almost exclusively and have made a nice 80k this year alone off it. I'm not fucking larping. It's funny to me when Veeky Forums finds one spread and goes crazy over it. I want them to close because then they open in the other direction.

GOD FUCKING DAMMIT I THOUGHT ABOUT DOING IT BUT WAS LIKE WTF NO ONE ELSE IS TALKING ABOUT IT FUCK I NEED TO TRUST MYSELF

What the fuck guys I made $7k today too?

>Don't do arbitrage a bot has already done it faster than you
is a nice meme I like to spread to keep faggots out.

>fuck off
fuck off brainlet
Gays aren't allowed here

>to keep faggots out
What a thing to state in your thread about how you do arbitrage. gj
don't forget you already ousted yourself as a faggot

Not my thread, but I don't really care anymore. 80k made in arbitrage alone this year. It's not like my gains will just get up and disappear

>unless I buy chainlink

This isn't a good method right now as you will essentially be stuck on gdax as everything is overpriced, and ETH withdrawals are delayed.

So you can buy cheap LTC on binance or whatever, send to GDAX and sell for fiat and make 8% or so, but that's about all you can do or it's a pointless arb run.

what fees are associated with going from Bittrex to Gdax and back?

Stop doing this, it's illegal

>he doesn't get it
The BTC value of LTC is different between the two exchanges genius.

>exploit arby opportunity
>all your funds are now stuck on gdax
what do

No shit. I'm just saying you're basically stuck once you get to GDAX. There's nothing (other than fiat and bitcoin) that you can buy to make the arbitrage worth it.

Ideally, the ETH price would be the same on both exchanges so you can do the arb process over and over again.

hows they get stuck?

was a good arb m8

because gdax markets are always like 15% higher than other markets

It's called arbitrage and it is a healthy and necessary move in ALL markets, not just Crypto. Go read some finance books, pajeet

right, but why are they stuck there? isnt there still a spread between the :LTC/BTC on GDAX and the BTC/LTC on bittrex to exploit?

there are plenty of opportunities for arbitrage although most of them exist because the exchanges or crypto markets are all fucked up so you can't move money fast enough to capitalize on them

Now I just need to figure out how to get money on to those lower exchanges to do this.

why not put into bitcoin on GDAX and transfer GDAX to the other exchange?

bitcoin is about 16.8k on other exchanges and 17.8k on gdax

fucking poo in the loo

whats wrong with chainlink/?

>arbitrage accumulates on gdax
>cant trickle back down to lower exchanges to arbitrage more
thats why its stuck

just need an exchange where they take fiat deposits to make it work

How long is gdax taking to send bitcoin withdraws? I put it mine over an hour ago still not even sent.

is this slow as shit?

how does anyone arb correctly when it takes 30 minutes for jewbase to send your shit and binance to send it back?

am i doing something wrong?

Is there some problem with arbitraging using tether?

>Coin is 100 on exchange A, buy it
>Transfer it to exchange B and sell it for 120 USDT
>Transfer USDT to exchange A and use USDT to buy more coin

how do you overcome the transfer fees between exchanges and the percentages at fucking GDAX? that's kinda what's keeping me from signing up there.

same here. been over an hour from gdax to bittrex and no confirmations, no pending deposit on bittrex.

sent LTC from poloeniex to gdax in under 5 mins.

ah fuck good thing i sent a test batch first

Its withdrawing back out of gdax that is the problem right now.

Where should I buy ETH/BTC/LTC as a Canadian? I’ve been using coinbase, but apparently it’s 15% higher than most markets? Does that mean I lose 15% when I transfer to another market?

does your transaction ever say complete on GDAX and it isnt in binance yet?

tf is that shit

Takes me a good 3 hours for my BTC to transfer from GDAX and confirm on bittrex. Good thing I have enough redbull and can play vidya all night while I make easy money.

withdrew into my bank account just fine

What percentage do you lose converting to eth instead of bitcoin when sending back to bittrex?

Did a bitcoin withdraw 1.5 hours ago and they still havent even sent it.

this. so frustrating right now

i had dejavu guys this cant happening. i also made 7k wtf guys

No fucking way, I made exactly 7175$ doing this today. Did everyone read the same post?

Bittrex requires 100 confirmations on ETH and takes an hour to deposit. It's crap.

0 fee withdrawing BTC from GDAX to binance?
Is this shit going to take 3 hours or 3 days...?

QuadrigaCX

Im still waiting for my verification, but from vids ive seen, once you are signed up and verified you can get your BTC instantly rather than waiting for Jewbase.

>being this retarded

Holy shit I just made 7k!! Ty op omfg

Also made 7k today btw

same here except to Bittrex. I'm on hour 6 now waiting

GDAX hasnt sent your withdrawal in 6 hours?

nope. Transferred some BTC from GDAX to Bittrex still waiting.

Coinbase still shows the transfer as pending, but GDAX shows it complete. And its not in my Bittrex wallet

I see the same thing. What the actual fuck are they doing?

They could be backed up by an influx of people doing the same thing as you guys?

Buddy of mine pointed out the opportunity to me earlier today but I was asleep. Didn't see the text from him until like 5, figured it was too late to hop on the arbitrage train.

Fuck I could have made bank today.

same here bois,

how was anyone able to arb today? maybe you have to do it when its kinda cold? like when us burgers are at work.

Cant tell if its GDAX being slow or binance

Its gdax they arent processing any of the bitcoin withdrawals.

you would think they would want us to arb, since they get money as per transaction.

i mean, if the price differences get too strong, people wouldnt use coinbase at all, theyd just go to the runner-up