Anyone into Bitcoin Arbitrage?

I did a test today between cex.io and luno.
The indicated arb was 12.15%
I spent R41566.78 at cex.io and sold on Luno for R42843.73 = profit R1276.95 => profit of 3.07%
Conclusion don't waste your time unless indicated arbs are > 15% or you are just wasting your annual forex allowance.
 
That's not nearly as profitable if you do it by sending USD overseas and cashing out locally, then you looking at 20-30%.
 
I did the arbitrage using Luno and Lykke. I then approached the R1 million cap imposed by the SARB & SARS. I asked for permission from SARS to exceed it, and I was denied.
 
Sly21C said:
I did the arbitrage using Luno and Lykke. I then approached the R1 million cap imposed by the SARB & SARS. I asked for permission from SARS to exceed it, and I was denied.
Click to expand...

How did you fund Lykke? Credit card?
 
jman said:
How did you fund Lykke? Credit card?
Click to expand...
Via Swift. You can do it from either Absa or standard bank. I prefer standard bank because you can do the transaction 24/7, while absa limits you to do the transaction week days 8 to 5, which is draconian, but anyway.
 
Sly21C said:
Via Swift. You can do it from either Absa or standard bank. I prefer standard bank because you can do the transaction 24/7, while absa limits you to do the transaction week days 8 to 5, which is draconian, but anyway.
Click to expand...

Hm I only have fnb.

What margins are you looking at?
 
jman said:
Hm I only have fnb.

What margins are you looking at?
Click to expand...
I only had absa also, then I opened an standard bank access account just for arbitrage trading. My margins were 5%, but I don't do it anymore because of SARB's slavery regulations.
 
Sly21C said:
Via Swift. You can do it from either Absa or standard bank. I prefer standard bank because you can do the transaction 24/7, while absa limits you to do the transaction week days 8 to 5, which is draconian, but anyway.
Click to expand...

You might be able to initiate the swift over the weekend, but it still will only clear on the weekday. It will be sitting in the queue till Monday in any case.
 
Zukat said:
You might be able to initiate the swift over the weekend, but it still will only clear on the weekday. It will be sitting in the queue till Monday in any case.
Click to expand...
You're correct, but with absa you can only do the actual transaction on the internet of filling information only between 8am and 5pm weekdays. It is extremely inconvenient. At least with standard bank you can do it while sleep walking at night, and then the funds can be processed during weekdays.
 
bothadb said:
I did a test today between cex.io and luno.
The indicated arb was 12.15%
I spent R41566.78 at cex.io and sold on Luno for R42843.73 = profit R1276.95 => profit of 3.07%
Conclusion don't waste your time unless indicated arbs are > 15% or you are just wasting your annual forex allowance.
Click to expand...

Depends on timing etc.... my last transaction made me roughly R4000.... but I would say R1276.95 is not bad for 5 minutes of your time... :)
 
bothadb said:
I did a test today between cex.io and luno.
The indicated arb was 12.15%
I spent R41566.78 at cex.io and sold on Luno for R42843.73 = profit R1276.95 => profit of 3.07%
Conclusion don't waste your time unless indicated arbs are > 15% or you are just wasting your annual forex allowance.
Click to expand...

Did you actually make these transactions?

Because i'm pretty sure fees would f*** you
 
What would you guys suggest is the minimum amount to start with and are there any specific exchanges which are the best?
 
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