Why arn't you fucks getting on arbitrage? It's literally a fail safe way of making money

If you can't figure out how to query an exchange's API with a bot, this thread is not for you

bump because of this guy

aren't you gonna get taxed to hell?

Would you just query the API for all exchanges, look for the biggest difference, then go buy on the cheap exchange, transfer to the expensive one and sell? Is that really it..?

with crypto, you would usually stick to one exchange, because transfers are slow and cost money
you could keep holdings in all the exchanges
or you stick with one that has both BTC and ETH pairs, and that's all you need
it's easier on some exchanges than on others
Binance for example, you'll have too much competition that's better than you

you don't really understand how taxes work, do you?

no...

you're dumb dude, you can find arbitrage opportunities at nearly every exchange for nearly any coin. Yes sometimes the margins are razor thin especially on the biggest coins (like trying to arbitrage between BTC vs ETH) but you can make a lot with the more obscure or smaller coins.

For example say you look on an exchange and see REQ that trades against BTC or against ETH (exchange offers both pairs) there can be opportunities where you buy REQ for ETH, then sell the REQ for BTC, then use the BTC to buy ETH, and repeat that cycle ad nauseum. I've done it many times (as recently as yesterday) where I just sit there performing that loop and net like 0.5 BTC profit, sometimes more, in the matter of a few hours. You just have to find the right coin and right exchange.

Obviously also opportunities buying at one exchange and selling at another, can sometimes make huge chunks of profit in a matter of minutes doing it that way, but it's usually a race against the clock before other people beat you to it.

This is such a larp. How the fuck do you arbitrage on the same exchange and make $5k? lmao

Other day I had chance for an instant 1.5x on cryptopia but I was too lazy

depends on the exchange, some have low liquidity
doing it manually is a bit futile though

i explained how brainlet
say its VEN and it trades against ETH or BTC on same exchange
>buy VEN for ETH
>sell VEN for BTC
>buy ETH for BTC
>buy VEN for ETH
repeat

obviously it doesn't automatically work on every exchange with every coin, you actually have to find ones where there's a price gap, but it's not that difficult to find.

like he said best with low liquidity (on at least one pairing)

and no it's not futile doing it manually, I mean ya using a script is objectively better, but I do it manually all the time and often make ~$2-5k profit in a day, its a bit tedious though but the profit is enough for me to find it worthwhile

Do you do it everyday? What’s your process for finding a good coin to Arbi?

for awhile i was doing it nearly every day, obsessively, just because it seemed like a good autistic way to make profits by repeating the same actions over and over again. Now I don't do it quite as much, but still few times a week.

Don't really have a process, I just look around at exchanges and have the experience now to notice pretty quick when there's a small discrepancy between BTC and ETH pair prices

Doesn't matter what the actual coin is, it can be the shittiest, scammiest pajeet coin going, just as long as it has both pairings and preferably low liquidity on one of the pairs. Usually check whatever the pajeet coin of the day is on exchanges like Bittrex, Kucoin, Hitbtc, shit like that - sometimes more obscure/low volume exchanges can be good for it too like had a couple good days on COSS awhile ago

God fucking dammit why must the media continue to ruin my arbitrage gains by publishing this shit? First they write all about Korea and now here.

How big of a margin do you look for? For example I see an opportunity now with a coin but profit is only like $30 or $40 difference.

fucking read you retard. that's literally all you have to do. goddamn.

this is total bullshit that you made 5k by doing arb on an exchange, unless you are working with a 500k stack. arbitrage opportunities on shitcoins dont have enough liquidity when theres any type of worthwhile spread to make good money and you can bet someone with a bot is going to detect them before you do. the only real arb opportunities for people who aren't going to code custom bots and work on obscure exchanges are knowing people in korea to work with.

It's all relative. I'd like to know the % price difference that arbitragers are looking for. I could probably work math out or google but i am lazy

the margin can be tiny as long as it beats the fee percentages

i've done it before where I was getting like 0.2% net profit per "cycle" and just repeated it for like 10 hours straight

obviously you can scale it up as well by dumping the profits back into the coins so you can buy/sell larger quantities at a time, increasing overall gains on each "cycle"

i've done days before where I started with $500 worth of ETH, bought into a random pajeet shit coin, did what I said, and scaled it up to where I had like $4,500 worth of that shit coin that I was cycling with, but eventually over the course of a day (sometimes in just minutes, but often hours) the gap narrows to where it's not worth it anymore or isn't beating the fee percentages and then its time to cash out and find something else to do

I thought about that earlier. Two different prices on two different exchanges, you could clean up.

How are you identifying which one to do? For example VEN is about 1c more expensive in BTC than in ETH.

So would sell VEN to BTC. Buy ETH either BTC. buy VEN with ETH?

So I'm selling to the more expensive paring. Switching the pairing. And buying the cheaper pairing?

dunno why you guys are so skeptical... seems like people just don't do this so they think it's not real or something

one of my best days ever was like 4 or 5 months ago when ELIX got pump'n'dumped over the course of 3 days or so (can go back and look at charts for this specific instance, think it hit like 8500 sat?)

Anyway I went on, I think Hitbtc, and bought $1000 worth of ELIX

There was major liquidity with ELIX/BTC but almost no liquidity with ELIX/ETH

I would set buy orders for the ELIX/ETH pair and since there's some people who for whatever reason only deal in ETH and not BTC, and are loyal to specific exchanges, they would fill my orders. Then I'd move the new quantity over to the ETH/BTC market which had high liquidity, sell for BTC, convert my BTC to ETH, and repeat.

I made 3.2 BTC in one day doing that, this was back when BTC was around ~$4k if i recall, but it was still very nice. For awhile it felt like I was the only one on that specific day doing it, although eventually more started (or bots started) and the gap narrowed and it wasn't worth it anymore.

That's all I'll say about it, but it's very possible to still find similar opportunities for this kind of thing. Might not make 3BTC+ per day regularly but easily make 0.2 - 0.5 BTC in an afternoon

Thanks for the info senpai. Btw..

>buythiswiththat.com

i mean I wouldn't do it for a 1c price difference, but ya

>So I'm selling to the more expensive paring. Switching the pairing. And buying the cheaper pairing?

that's literally all you're doing, you just want to find ones with bigger price gaps to make it as worthwhile as possible, like I said it doesn't have to be an actual good coin (its probably better it isn't in fact), just find some mid-tier or pajeet-tier coin that you'll use for the day, then dump it all back into ETH or BTC when you're done with it and that's it

Mmm would I be right in thinking new coins and listings are were the opportunities lie because people haven't made the adjustments to their bots yet?

what is a good exchange for canadians to use? I don't wanna give the jews any more of my ID. Trying to get into altcoins more, help a nigga out

yes new coin listings are great, as are obvious PnD's, those are what I look for first always

dunno man, plenty of exchanges don't require ID or anything, not sure if registrations have changed but I signed up with Binance/Bittrex/HitBTC and many others like 6-8 months ago and never had to show any ID and can deposit/withdraw just fine

How did you make 3.2 btc off of 1k. Now thats a larp if I ever seen one

Ive looked into doing this in the past, I wrote a bot that took the order books for eth and btc pairings of a coin, and calculated the profit using the method you described, using instabuy and sell prices, I calculated that coins never made profit, when you did it, did youu have to wait on buys and sells?

I arbitraged some XLM from Bittrex to Binance today, really not that hard if you buy in bulk. Perhaps you're just a poorfag with a small peni- I mean bank account balance

have you done this recently? how's the bot situation?

>sent $1k worth of ETH to exchange
>set buy order for $1k ETH worth of ELIX
>buy order gets filled
>sell that amount for BTC
>convert BTC back to ETH
>have more ETH than when I started (say $1,050)
>repeat from beginning
do this all day, for 10 hours straight, as fast as I can, netting small profit each time I do the cycle, at end of 10 hours I have about $13,000 (btc was worth 4k at this time)

i keep saying it over and over, its really that fucking easy. i dont make 3 btc every day, like yesterday i only made 0.5 BTC, the day before made like 0.3 BTC, but if you want to sit there doing this kinda shit all day every day you can basically print money, and its not that risky because it's rare for a coin to flash crash while you're in the middle of this kinda shit

>did youu have to wait on buys and sells?

sometimes yes, but not for long, i mean if its something with such low liquidity that you're waiting 20 minutes to fill an order, it just wont' be worth it, and there's likely at least a couple other people/bots competing anyway

but if i had to wait 15-30 seconds for orders sometimes i'm okay with it if the price gap is decent

Shilling a coin you are holding is good for everyone holding it; educating the unaware about arbitrage hurts everyone trying to do it.

bittrex definitely needs verification now, I'll check out the others tho. coinbase was only one I could find that doesn't need verification to buy even, situation in canada is shit

eh i guess man, Veeky Forums represents like 0.01% of the trading volume on any exchange, I'm not that worried, and I don't use this as my primary profit strategy anymore anyway, mostly just do it casually now. You're not wrong though

So say you were selling the coin in the cycle, youd undercut the best sell offer rsther than instasell to the best buy?

i prioritize speed so if there's huge liquidity and i don't think i'll get instantly undercut then ya sure putting up a sell offer is fine, but if i would have to deal with instant undercutting back and forth or liquidity was a little lower then i'd just sell it to the best buy as long as it was still profitable to do so

That's a fair point. Thank you for pointing out the technique for those of us who aren't keen on the practice in a clear fashion. We are all going to make it; carry on and fare well, user.

post the non pay wall version fag

But that goes back to my original point, when only doing instabuys andinterest sells, this method does not make profit (I checked all coins on multiple exchanges multiple times). Perhaps its harder now than half a year ago, but if not, you mustve been waiting on a lot of the trades right? Waiting as in you left your offers to be filleda rather than filling existing offers.

> niggas, this works on bull or stable markets, if u r not sharp, do this in bear market u end having shitcoin bags with losses.

I'm trying this now and the issue is the difference wont stay stable on ANY of the coins I can find that are priced different. One second the ETH pairing is .5 more expensive, the next second the BTC pairing is .5 more expensive.

Seems you don't understand. Coin-for-coin trades are not counted as 'like-for-like' and instead get taxed as a barter. Enjoy your sales tax my dude...

What the fuck. I just did one and made $7. I keep double checking the numbers. I can just do this all day?

What did you trade?

>
Anyway I can contact you?
Are you on any telegram groups?

user discovers the concept of arbitrage.

to get past any paywall just add outline.
com / (original url)

you can thank me in prayers for VEN hitting $100 EOY

lol just don't hold onto the shitcoins for long, like he said 15-30 seconds max

i used to arb aussie exchanges daily. easiest 10% returns. sad that it has come to an end

When will you get that this applies to burgers only. In my country I'm only obliged to pay profit tax

Holy shit I just realized that this is why some whales pnd low volume coins
not just to get normans to fomo into their bags but also to manipulate the price to make arbitage easier

thanks for the tip user, i'll try it out right now

Buy ESP on Yobit, Sell it on Cryptopia.

(Check the buy and sell prices if you dont believe me sir!)

when i try this it always flips, i buy low in eth and then go to sell high in btc but btc is now lower that eth?

Check the withdrawal prices m8

i've been trying this rn but i just loose money, am i retarded or what?

>Thinking arbitrage is some top secret concept

this absolutley does not work man