Arbitrage is almost never worth it.
It was, once. But then people started posting about it here, and the bigger traders improved their bots to dispatch orders to multiple exchanges at the same time. Since then, the opportunities have dried up.
Topic: Why is the the Canadian exchange almost a dollar differance from the US? (Read 1324 times)
October 02, 2012, 11:27:24 PM
It was, once. But then people started posting about it here, and the bigger traders improved their bots to dispatch orders to multiple exchanges at the same time. Since then, the opportunities have dried up.
October 02, 2012, 09:11:15 PM
The main reason is Virtex lacks an API so automated arbs are not feasible.
October 02, 2012, 07:17:36 PM
I'd say Virtex is mostly always in line with mt-gox price
when mtgox has a big move, it sometimes takes Virtex a few hours to correct itself
Arbitrage is almost never worth it.
best thing to do is buy stuff with them... since everyone use mtgox's higher rate to value the coins.
when mtgox has a big move, it sometimes takes Virtex a few hours to correct itself
1000CAD -> to exchange = 994CAD
BUY 987.54CAD -> BTC = 83.12BTC after fees
SELL on mtgox 83.12BTC -> 1034.12USD after fees
1034.12USD converted to CAD through bank is 995.24 CAD
This doesn't include any fees for transferring money from exchange to your bank.
*This is just from a quick glance at both exchanges, not 100% accurate.
BUY 987.54CAD -> BTC = 83.12BTC after fees
SELL on mtgox 83.12BTC -> 1034.12USD after fees
1034.12USD converted to CAD through bank is 995.24 CAD
This doesn't include any fees for transferring money from exchange to your bank.
*This is just from a quick glance at both exchanges, not 100% accurate.
Arbitrage is almost never worth it.
best thing to do is buy stuff with them... since everyone use mtgox's higher rate to value the coins.
October 02, 2012, 04:30:57 PM
What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out?
If you have coins to sell, and don't like selling below market rate, perhaps you would like to trade with those holding cash (CAD) who don't like buying above market rate.
Put the two together and you have a win/win! Simply put up an offer and see what happens:
- http://www.LocalBitcoins.com
October 02, 2012, 10:15:56 AM
What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out?
It might have something to to with the fact the CAD is now worth more than USD: http://www.xe.com/ucc/convert/?Amount=1&From=CAD&To=USD
Also the recent fee increases on cavirtex make it much less profitable to do this.
October 02, 2012, 10:08:59 AM
.
October 02, 2012, 10:02:14 AM
October 02, 2012, 09:54:12 AM
What is going on here? Why aren't people taking this as an opportunity to buy on one exchange and sell on the other and shouldn't this even things out?
Jump to: