I mean in theory you buy BTC with tether then sell for USD, then buy tether with USD, then repeat so… It should work and be recyclable internal to the platform, and in theory you could exfil the capital via BTC even if USDs are not easy to extract right?
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Replying to @coloradotravis
If BTC is ‘trapped’ on the platform but one is making more of it ‘for free’, then it should still work, as long as there are no delays in getting trades confirmed and the next leg started. Given how much firepower is applied, one has to wonder if the costs/frictions are clean.
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Replying to @bauhiniacapital
Price record would suggest it has worked historically since most deltas here quickly revert. Would appear something has changed.
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Replying to @coloradotravis @bauhiniacapital
wondering if is it a function of the time to make cross exchange transfers. Or perhaps it is more that the ability to do so in volume is entirely crippled
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Replying to @eriz35 @bauhiniacapital
Whole trade is doable on binance itself
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Replying to @coloradotravis @eriz35
Is that 1% last-to-last without charges/friction? Any idea of those? I will take a look tomorrow.
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Replying to @bauhiniacapital @coloradotravis
I'm gonna cc
@macrocephalopod in on this because they have some really good insight into the space. I'm purely a tourist but have been following intently1 reply 0 retweets 2 likes -
Looks interesting, will take a look later.
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Replying to @macrocephalopod @eriz35 and
I took a look and I don't see that this arb exists at all? This is Coinbase BTCUSD vs Binance BTCUSDT one-minute bins for July 2021, relative difference in basis points. They are close to parity, certainly not arbable given commissions.pic.twitter.com/R3BSAiO072
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Replying to @macrocephalopod @eriz35 and
Maybe I'm looking at the wrong thing? But it seems quite explicit above. I'll check Binance US too in case there's a significant difference from Binance, though Binance US has much lower volumes
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Very similar pattern if I look at BTCUSDT on Binance US rather than on Binance --pic.twitter.com/j2C9Hh2huw
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Replying to @macrocephalopod @eriz35 and
And BTCUSD vs BTCUSDT on Binance US is even tighter (can't look at this trade on Binance since there are no USD pairs on main Binance site)pic.twitter.com/j2LkGlNTlg
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