Greetings, I got a tip from an old friend on FB whom retail trades cryptos about an arbitrage opportunity trading “TIO” between two different exchanges.
“Hey Bro… Long time no see… There is a crypto arbitrage opportunity you might be interested in. Buy TIO token on gate.io exchange and sell on hitbtc.com for 14%profit”
Can anyone who trades cryptos tell me if this tip is any good. Cheers.
I dont know about that arbitrage play but I do know there were a lot of opportunities to sell GBTC and buy Bitcoin (or the future XBT) because the ETF sometimes sells at a 25-50% premium to spot. Whenever Bitcoin would drop the ETF would come close to parity with spot. Its done this repeatedly since the ETFs inception.
Do not forget that there are withdrawal fees and transfer times involved.
If it’s a flat fee - let’s say 3$ (or the equivalent in the crypto of choice) you have to transfer a big enough amount that it would cover the fees and factor in the transfer time because while you wait for the transfer to go through the price may move and cause you to lose.
I’ve noticed a slight difference between HitBTC and some of the other exchages’ prices and thought about that but the fees and long waits for the transfers to arrive is too big of a risk for me to try it out.