I did a $10k practice BTC arb trade across @BTSEcom and @bitfinex using $L-USDt and $L-BTC which cleared 0.33% (after tether/USD market & trade fees) https://twitter.com/adam3us/status/1202990533456646144?s=20 … (sell BTC on bitfinex, simul buy on BTSE). not bad for 2mins transfer + tether/USD orderbook tinkering).
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by far the slowest part is the tether/USD market to convert as you transfer tether but neither exchange has a BTC/tether market, only BTC/USD. you really need a tether/USD bot as it has a centre line around 1.0 so simul arb is not as important for that part.
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Small note:
@bitfinex has a native BTC/USDt market.1 reply 0 retweets 4 likes -
Missed that! even better. I suggested to
@BTSEcom that maybe they could do also. Would speed up and simplify as the BTC/USD market was much deeper than USD/Tether. arb people tend to market buy as they need simul trade, and so pay higher taker fees which is good for the exchange.2 replies 0 retweets 4 likes
I agree. It would be an awesome arbitrage opportunity between the two exchanges.
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