Cryptocurrency exchanges are the convenient gateway to buying and selling bitcoin and other cryptos. As one would expect, these exchanges also create arbitrage opportunities. Taking advantage of these “gaps” between bitcoin prices can be quite difficult, especially when things need to be done manually. Thankfully, there are some bitcoin arbitrage bots which facilitate the process somewhat.
The Crypto Arbitrage Trader bot should not be confused with C.A.T, which is a closed-source paid trading bot for cryptocurrency users. Crypto Arbitrage Trader’s source code can be found on GitHub. The project was initially announced in 2013 and includes support for Coins-E, BTC-E, and Vircurex. However, no major updates have occurred over the past four years, and some users complained there are a few bugs in the code.
This particular bitcoin arbitrage bot can be used for different purposes, although it appears only one exchange is supported at this time. BTC-E is a somewhat popular trading platform, yet there is not always an arbitrage opportunity to take advantage of. tAPIbot’s source code is available on GitHub, thus allowing experienced users to implement support for other exchanges if they feel the need to do so.
Bitcoin Dealer is another bitcoin arbitrage bot that can only be used for one particular exchange. In this case, that exchange is Bitstamp, which is far more popular compared to BTC-E. Bitcoin Dealer can be found on GitHub as well, although it appears the bot has not received any major developer updates for quite some time now.
It is not hard to see the similarities between Bitcoin Arbitrage and Bitcoin Dealer. However, when it comes to exchanges, Bitcoin Arbitrage is more flexible, with support for Bitstamp, Paymium, and Coinbase. Using multiple exchanges increases the odds of finding successful bitcoin arbitrage opportunities.
We briefly touched upon Gekko in our top bitcoin trading bots article, yet it appears the bot also has some arbitrage features. It supports a wide range of exchanges, including Kraken, BTC-E, CEX, and Bitstamp. The entire project is open source and can be found on GitHub.
Blackbird is an open source bitcoin arbitrage bot written in the C++ language. What makes this project so appealing is how BlackBird supports multiple exchange platforms, including Bitfinex, OKCoin, Kraken, and Gemini. Blackbird is a very easy-to-use arbitrage bot, once everything has been set up. In fact, there are clear instructions on how to set everything up, which makes the bot quite approachable.
@raviraj