Few days ago I posted about my most likely failed attempt to profit from pegging HBD:
@dalz.shorts/my-most-likely-failed-attempt-to-profit-on-pegging-hbd
The HBD to HIVE conversion is now finished and this is the end result
With this step my full circle looks like this:
- 1000 BUSD
- 1249 SPS
- 1290 HIVE
- 0.0165 BTC
- 952 HBD
- Start 3.5 days conversion to HIVE
- Finish conversion to 1230 HIVE
Result:
- In terms of HIVE I'm down 60 HIVE
- In terms of USD/BUSD I'm almost neutral
I'm down in terms of HIVE mostly because of the high spread on HBD on Bittrex and the bad price I got for HBD.
For the dollars, I'm around the same, because of the HIVE price have went up a little in the period.
If you want to start and finish the arbitrage on HBD in USD, you have one more factor in play and that is the price of HIVE in the 3.5 days.
If you are OK holding liquid HIVE, then you cut this step.
This case show the need for more liquidity on HBD on external markets and a USD to HBD trading pair. Then the arbitrages will be far more efficient and the pegging much better.