Not a day goes by in the cryptocurrency world without arbitrage opportunities. That is one of the many reasons why this industry remains so impressive and interesting at all times. The following opportunities will let users pocket some decent profits along the way, depending on overall platform liquidity.
Contents
ZCash (Poloniex / Gate / BTCBit)
It has been an interesting week for ZCash traders willing to explore arbitrage opportunities and easy profits. The price for this altcoin on BTCBit is still significantly higher compared to both Poloniex and Gate. With an easy profit of up to 9.7% waiting to be scored it will be interesting to see how long this price gap remains in place as the day progresses.
Bitcoin Gold (Cex / Bitfinex)
There has been a bit of an influx in terms of Bitcoin Gold arbitrage opportunities as of late. That is not just because there is a growing demand for BTG, but primarily because most of the exchanges seemingly cannot maintain the global average price. In today’s edition, there is a clear gap between Cex and Bitfinex, which allows for a quick 1.7% profit.
Tron (Koineks / Bitfinex)
It is always refreshing to see numerous arbitrage opportunities involve one of the biggest exchanges in all of cryptocurrency. Users with access to Btfeinx can use this trading platform to sell TRX bought on Koineks for a 2.8% profit. It seems unlikely that high TRX price on Bitfinex will remain in place for long, although one never knows what the future will hold exactly.
Dash (Every exchange / BTCBit)
It doesn’t happen all that often virtually every other exchange has a lower price for one particular altcoin compared to BTCBit. Today is one of those rare days, as one can source liquidity from any platform trading Dash and score a profit along the way. The biggest gap rewards a profit of 9.5% profit, with the average sitting closer to the 7% range.
EOS (Paribu / Binance / HitBTC)
A few interesting EOS-related arbitrage opportunities have presented themselves today. Buying EOS on Paribu and selling it on Bitfinex is the most lucrative option, with a potential profit of 3.2%. Buying on Binance or KuCoin and selling on HitBTC can yield a 1% profit on average. A few interesting opportunities to explore throughout the day.
Cardano (Kraken / Gate / BTCBit)
It has been a while since the previous Cardano arbitrage opportunity came around. This seems to indicate the value on most exchanges is identical, or there is no real demand for this altcoin. Regardless of which scenario is through, buying on Paribu Binance, Kraken, or Gate and selling on BTCBit can yield an average profit of 10%. A more than respectable options this close to Christmas.
Information provided by Arbing Tool.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com