Excelent Arbitrage Opportunity on Poloniex. Help maintain the SBD peg while taking profit.

in steemit-market •  8 years ago  (edited)

Currently SBD's are trading at a premium. This means you can:

  1. Send your SBD's from your steemit account to Polo
  2. Sell them on Polo for BTC. Because the value of SBD's is higher than than $1 you'll get more BTC out of this than it was supposed to, effectively putting you at a profit.
  3. Buy STEEM with BTC
  4. Send STEEM to your Steemit account
  5. Sell STEEM for SBD
  6. Repeat.

Fast confirmation times make this an excellent opportunity given your deposits and withdrawals are done relatively fast comparing with other cryptos.

This will ensure the peg, reducing the spread as well as profit.

steemit-market
8 years ago by

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      ·  8 years ago 

    SBD trading at a premium on Polo... means STEEM is trading at a discount on Steemit Market. So you can't "repeat" via Step 5. But this works if you previously stock-piled SBD at $1.00 USD and can sell all you have at $1.30.

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      2 votes
      [-]
        ·  8 years ago 

      good post Giving away trade secrets..... lol

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        1 vote
        [-]
          ·  8 years ago 

        helping the community :p

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          [-]
            ·  8 years ago 

          Its basically free money! Abritrage is one of the most beautiful things about crypto, especially when were on a bull run.

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            1 vote
            [-]
              ·  8 years ago 

            Indeed, this was a pretty good and easy opportunity to make money.

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              [-]
                ·  8 years ago 

              STEEM AND SBD GO TO THE MOON !!!

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                [-]
                  ·  8 years ago 

                Does this seriously works?

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                  [-]
                    ·  7 years ago 

                  I know this "thread" is from 11 months ago. But I was actually attempting to arbitrage from one Exchange to Polo via SBD and it's been more than 4 hours since my first test amount has been received. Have the confirmation times increased that significantly in 11 months? Or is this related to Polo having issues with SBD/STEEM wallets? I saw this message on there yesterday, but it wasn't there today so I thought I would give it a shot...

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                    [-]
                      ·  7 years ago 

                    I wrote an article that explains a simple way to arbitrage across cryptocurrency exchanges, and the math involved. Important to know what you are getting into so that you will not be trading at a loss. https://steemit.com/arbitrage/@kesor/the-math-behind-cross-exchange-arbitrage-trading

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