There's a major caveat emptor associated with arbitrage particularly in crypto assets...watch the trade volume especially the 24hr trade volumes closely! An 'opportunity' for arbitrage might appear on an Exchange, say cryptopia, with a lower entry price while another Exchange, say Yobit, has a lucrative exit price. As enticing as it may seem, if you don't consider the trade volumes on the coin, particularly for the Exchange you intend to sell the coin on, you may get stuck in a bad price.
How do I mean? Follow me closely, say u get a good bargain for XRP on Bittrex @3200 sats and you see that Yobit is selling XRP @3800 sats, that looks like an easy way to run off with 600 sats on arbitrage, right? Wrong! Because a closer look may reveal that XRP on Yobit had a 24hr trade volume less than $3000 implying that though statistics may show sales @3800 sats, actually getting someone to buy at that price may take forever, if at all.
So, as a matter of due diligence, always make sure you check trade volumes, among other factors, before engaging in arbitrage...or you may find yourself stuck in a coin for a long period of time, lol #JustMyTwoSats though :)
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Sage advice, volume is very key
Yeah, volume is one place where noobs easily miss it...I know it took me a while to figure that out