Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
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Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#2Crypto arbitrage always seems so tempting, but there's so many gotchas. This site seems to do a good job of weeding out some of the gotchas by focusing on coins with high market caps.
Usually the "opportunities" in arbitrage that sites like this highlight ignore the fact that the targetted coin on one of the exchanges has abysmally low volume, so you'll be unlikely to be able to buy and sell it in time to take advantage.
Other gotchas include: time to transfer the coin between exchanges, fees involved (both in transfer and on the exchanges through buy/sell fees), and exchanges where deposits and withdrawals aren't fully automated (some Chinese exchanges were like this).
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#3Pretty cool site, thanks for showing it. Are you plugged into each exchange's API or using an aggregator?
Taker fees should be shown on all of these potential cross exchange arbs. Exchange withdrawal fees should be presented somewhere as well.
For those looking at this site and seeing the percentages and thinking it's easy money, it isn't. Arbing has become a pretty crowded space and this kind of low hanging fruit is very hard to capture even when fully automated, not to mention the banking logistical issues of using USD (not tether) as a base pair.
If building trading systems in the crypto world is something that interests you feel free to reach out to me, company / contact info is in my profile.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#4Crypto arbitrage always seems so tempting, but there's so many gotchas. This site seems to do a good job of weeding out some of the gotchas by focusing on coins with high market caps. Usually the "opportunities" in arbitrage that sites like this highlight ignore the fact that the targetted coin on one of the exchanges has abysmally low volume, so you'll be unlikely to be able to buy and sell it in time to take advant…
Yes, it seems almost shady/misleading that this site doesn't include the Bitcoin/cryptocoin transaction fee and the exchange fees, which are all available publicly.
Exchange transaction volume should also be fairly readily accessible, but I'm not sure about that. This could be used to calcualate a probability of success to also take into consideration.
Even the various World of Warcraft auction house arbitrage add-ons take this type of stuff into account.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#5Crypto arbitrage always seems so tempting, but there's so many gotchas. This site seems to do a good job of weeding out some of the gotchas by focusing on coins with high market caps. Usually the "opportunities" in arbitrage that sites like this highlight ignore the fact that the targetted coin on one of the exchanges has abysmally low volume, so you'll be unlikely to be able to buy and sell it in time to take advant…
Yes, it seems almost shady/misleading that this site doesn't include the Bitcoin/cryptocoin transaction fee and the exchange fees, which are all available publicly. Exchange transaction volume should also be fairly readily accessible, but I'm not sure about that. This could be used to calcualate a probability of success to also take into consideration. Even the various World of Warcraft auction house arbitrage add-on…
They can vary per user between exchanges, depending on how much volume they have, etc.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#6One way to do crypto arb is with crtypo companies executing in AI with financial markets datasets e.g 'Unpacking 3 Cryptocurrencies: Doc.ai, Cindicator & Starmine.ai' https://hackernoon.com/cryptocurrency-plays-artificial-intel... Information arbitrage can happen across markets, crytpo, stocks, CBOE and other assets.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#7Earlier quoted context omitted.
Yes, it seems almost shady/misleading that this site doesn't include the Bitcoin/cryptocoin transaction fee and the exchange fees, which are all available publicly. Exchange transaction volume should also be fairly readily accessible, but I'm not sure about that. This could be used to calcualate a probability of success to also take into consideration. Even the various World of Warcraft auction house arbitrage add-on…
They can vary per user between exchanges, depending on how much volume they have, etc.
I do not disagree with your point. Is this a reason to leave it out?
It feels like talking to a stock broker / investment advisor who gives all the numbers while leaving out any mention of their cut. In this case the Token Spread site doesn't seem to get anything out of it, unless they somehow tie into exchange affiliate programs wherever they link them up.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#8Pretty cool site, thanks for showing it. Are you plugged into each exchange's API or using an aggregator? Taker fees should be shown on all of these potential cross exchange arbs. Exchange withdrawal fees should be presented somewhere as well. For those looking at this site and seeing the percentages and thinking it's easy money, it isn't. Arbing has become a pretty crowded space and this kind of low hanging fruit is…
You don't need to be a taker to run arb. You'll be able to push the spread on a side of each exchange, and work with quantities of BTC on each one that get replenished.
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#9This is a nicely designed site and some good data feeds. There is a big difference between spread, and arbitrage. Critically, any attempt to track arbitage needs to watch the orderbook rather than the last-trade-price. Ironically, the bid/ask spread on the same exchange isnt part of arbitrage. The difference between the total available bids on exchange A and the total available asks on exchange B (or vice-versa), is the opportunity.
I wrote and ran an arbitrage tracking site for a few years and eventually stopped because there did not seem to be viable way to take advantage of cross-exchange spreads. Sell-Move-Buy didn't work because moving coins took days. Having a pile of each kind of coin on each change is fast but defeats the point of arbitrage because the pile itself it subject to the price changes that arbitrage is made to avoid.
The chart below shows the result of looking at the orderbook of different BTC exchanges, seeing how much was actually offered at a winning price on other changes, computing the total, and taking into account exchange fees (more or less)
At 10:10pm there is a $16USD spike - probably between BTC-E and Gemini that lasted a short while (refresh rate was every 10 min) https://web.archive.org/web/20160219100013/http://cointhink....
I always thought the code could be generalized enough to look at any number of exchanges and coinpairs. I'll keep an eye on tokenspread, it looks like a good start!
Re: Show HN: Token Spread – Bitcoin/crypto spread tracking for arbitrage
#10Pretty cool site, thanks for showing it. Are you plugged into each exchange's API or using an aggregator? Taker fees should be shown on all of these potential cross exchange arbs. Exchange withdrawal fees should be presented somewhere as well. For those looking at this site and seeing the percentages and thinking it's easy money, it isn't. Arbing has become a pretty crowded space and this kind of low hanging fruit is…
You don't need to be a taker to run arb. You'll be able to push the spread on a side of each exchange, and work with quantities of BTC on each one that get replenished.
Ok sure, show both then, the maker rebate on some exchanges will open up more opportunities.
All I want is just one "arb opportunity dashboard" to show the whole picture so people don't think they can deposit some btc and start clicking away generating a profit...