There may be an Arbitrage Opportunity in the HBD market for nimble traders...

For anyone that has an Upbit account and a Bittrex account there may be some arbitrage opportunities from time to time.

One of which came up just recently...

The price of HBD is trading at different prices on both exchanges and that leaves open the opportunity to buy it on one exchange, transfer it over, and then sell it on the other.

It was just trading at $.90 on Upbit, and $.95 on Bittrex though by the time I took the screenshot an hour or so later, the prices were much closer again:

(Source: https://coinmarketcap.com/currencies/hive-dollar/markets/)

If that big spread pops up again, the ideal move would be to buy HBD on Upbit (or wherever it is lower) and then transfer it over to Bittrex (or wherever it is higher) and sell it there.

Keep in mind that the bid and asks are far apart at times meaning that you may have to buy at the bid and sell at the ask to be able to really benefit and capture any profit from these price differences.

If you are able to use both exchanges, I personally wouldn't even attempt it unless you see a multi-cent spread again, something like a $.04+ spread seems ideal to me...

Keep an eye on those prices as they have been jumping around quite a bit recently, often trading at significantly different prices, and you may find yourself with some nice arbitrage opportunities.

Stay informed my friends.

-Doc