$EOS Arbitrage Between Kraken and Bitfinex

in #cryptocurrencies7 years ago (edited)

I built my own crypto-currency arbitrage algorithm which I run against different currency pairs.

It's not very glamorous. Significant arbitrage opportunities are rare, so I am usually grinding away small amounts. However, the spread on $EOS has been significant today.

I have been trading of the $EOSUSD pair introduced today on both exchange. Spreads of 20%+ (on the side of Kraken) have been the norm throughout the evening. It switched in favor of Bitfinex on a few occasions, enough to let my algo rebalance when it ran out of room to trade.

Unfortunately, as of writing, I am unable to short sell on Kraken. Since I'm not willing to speculate on the value of $EOS too much, I can only hold a limited quantity which greatly reduces my potential for profits. Hopefully, it continues to be crazy by the time Kraken offers short-selling... and it does not go down to zero by then.

Screenshot 2017-07-02 02.32.16.png

Sort:  

New cryptocurrencies have always big spreads :)

Thanks for the good article

I wrote an article that explains a simple way to arbitrage across cryptocurrency exchanges, and the math involved. Important to know what you are getting into so that you will not be trading at a loss. https://steemit.com/arbitrage/@kesor/the-math-behind-cross-exchange-arbitrage-trading

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.030
BTC 64542.61
ETH 3460.20
USDT 1.00
SBD 2.51