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Is Arbitrage Possible in the Bitcoin Market? (Work-In-Progress Paper)

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Economics of Grids, Clouds, Systems, and Services (GECON 2018)

Part of the book series: Lecture Notes in Computer Science ((LNCCN,volume 11113))

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Abstract

Bitcoin is a digital currency traded on different exchanges for different prices; this feature implies important issues about arbitrage opportunities. In this paper we investigate whether strong or weak form of arbitrage strategies are indeed possible by trading across different Bitcoin Exchanges. Our investigation, both theoretically and practically, gives as a result that arbitrage is indeed possible.

M. Patacca—This research is supported by project “REMIX” (funded by Banca d’Italia and Fondazione Cassa di Risparmio di Perugia) and projects “ComPAArg” and “Argumentation 360” (funded by “Ricerca di Base 2015–2016”, University of Perugia).

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Notes

  1. 1.

    Available at: http://bitcoin-analytics.com/, https://www.coindesk.com/price/, https://www.cryptohopper.com/, https://www.avatrade.com/forex/cryptocurren-cies/bitcoin.

  2. 2.

    Available at: https://www.bitstamp.net/, https://www.gdax.com/, https://www.kraken.com/, https://cex.io/, https://bitkonan.com/.

  3. 3.

    http://www.blockchain.info/.

  4. 4.

    http://normandy.dmi.unipg.it/blockchainvis/.

  5. 5.

    https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer.

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Author information

Authors and Affiliations

  1. Università di Perugia, Perugia, Italy

    Stefano Bistarelli, Alessandra Cretarola, Gianna Figà-Talamanca, Ivan Mercanti & Marco Patacca

Authors
  1. Stefano Bistarelli
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  2. Alessandra Cretarola
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  3. Gianna Figà-Talamanca
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  4. Ivan Mercanti
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  5. Marco Patacca
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Corresponding author

Correspondence to Ivan Mercanti .

Editor information

Editors and Affiliations

  1. National Research Council of Italy, Pisa, Italy

    Massimo Coppola

  2. National Research Council of Italy, Pisa, Italy

    Emanuele Carlini

  3. National Research Council of Italy, Genoa, Italy

    Daniele D’Agostino

  4. Seoul National University, Seoul, Korea (Republic of)

    Jörn Altmann

  5. University of Zaragoza, Zaragoza, Spain

    José Ángel Bañares

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Bistarelli, S., Cretarola, A., Figà-Talamanca, G., Mercanti, I., Patacca, M. (2019). Is Arbitrage Possible in the Bitcoin Market? (Work-In-Progress Paper). In: Coppola, M., Carlini, E., D’Agostino, D., Altmann, J., Bañares, J. (eds) Economics of Grids, Clouds, Systems, and Services. GECON 2018. Lecture Notes in Computer Science(), vol 11113. Springer, Cham. https://doi.org/10.1007/978-3-030-13342-9_21

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  • DOI: https://doi.org/10.1007/978-3-030-13342-9_21

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-13341-2

  • Online ISBN: 978-3-030-13342-9

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