FxWirePro: Crypto arbitrage opportunity for the day

Amid all cryptocurrencies’ spark of bearish pressure, pricing disparities at different exchanges offers luring arbitrage opportunities to exploit. As the potential yields may vary from exchange to exchange, Bitcoin and its peer group and counterparts have tumbled off dramatically since the beginning of this year, the last year’s bullish momentum has absolutely shrunk away. 

As a result, of late, the majority of cryptocurrencies have been lurking amid stringent regulatory frameworks by the US SEC and CFTC.

Well, the triangular trading options could fetch us a handsome sum of returns, the following instances would bring-in the such opportunities owing to the pricing differences.

BTCUSD at Bitfinex and BTCUSD at Bittrex:

Please be noted that the BTC pricing against dollar at the same two different exchanges, BTCUSD at Bitfinex and BTCUSD at Bittrex. There exists a disparity in their respective prices $3350 at Bitfinex and $3204 at Bittrex. Thereby, buying Bitcoin on the Bittrex exchange with USD and transferring the bitcoin and converting it back into USD on Bitfinex likely to derive a profit of just over 4.55%. 

XRPUSD at Bitfinex and XRPUSD at Bittrex:

As you could observe the XRP pricing against dollar at two different exchanges, namely, XRPUSD at Bitfinex and XRPUSD at Bittrex. Please be noted that the existence of a disparity in their respective prices 0.3000 at Bitfinex and 0.2930 at Bittrex. Thereby, buying XRP on the Bittrex exchange with USD and transferring the same and translating it back into USD on Bitfinex allows us to derive considerable returns, Likewise, ETH also renders the similar results.

Same has been the case with ETHUSD at Bitfinex and ETHUSD at Bittrex:

ETHUSD on Bitfinex and ETHUSD on Bittrex is at $87.32 and $83.90 respectively. Thus, procuring Ethereum on the Bittrex exchange using USD and transferring the same and converting it back to USD on Bitfinex would lead to a profit of just over 4.10%. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -53 levels (which is bearish), and hourly USD spot index has bearish index is creeping at 68 (bullish) while articulating (at 13:36 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex