BitCoin Arbitrage Opportunities

2011-09-10: Updating has ceased

The lack of spread in today's BitCoin markets allows for easy arbitrage if you trade on different markets, possibly with different currencies.

Bids and offers marked with green can be matched by someone who has the right accounts. Some bids and offers may require an account in a specific country.

Bids (buying BitCoins)
Market	EUR	USD	GBP	AUD	PLN	NOK
Britcoin	4.081	5.198	3.289	5.296	17.703	31.111
Mt Gox	3.965	5.050	3.195	5.145	17.278	30.089
Tradehill (USD)	3.882	4.944	3.128	5.037	16.916	29.458
Tradehill (EUR)	3.800	4.840	3.063	4.932	16.561	28.972
Tradehill (AUD)	3.701	4.713	2.982	4.802	16.078	28.214

Offers (selling BitCoins)
Market	EUR	USD	GBP	AUD	PLN	NOK
Tradehill (AUD)	3.974	5.061	3.202	5.156	17.262	30.292
Tradehill (EUR)	3.974	5.061	3.203	5.157	17.317	30.296
Tradehill (USD)	4.044	5.150	3.259	5.247	17.620	30.685
Mt Gox	4.053	5.163	3.267	5.260	17.663	30.759
Britcoin	4.083	5.200	3.290	5.298	17.709	31.123
Mining^[1]	4.441	5.656	3.579	5.763	19.351	33.699
bitcoinmarket.com (BMUSD)	5.418	6.900	4.366	7.030	23.608	41.112
bitcoinmarket.com (MBUSD)	11.778	15.000	9.491	15.283	51.321	89.373

Arbitrage opportunities
Buy here ↓ \ Sell here →	Britcoin
Tradehill (AUD)	2.70%
Tradehill (EUR)	2.69%
Tradehill (USD)	0.92%
Mt Gox	0.68%

Numbers are pulled every 5 minutes.

Notes

Assuming megahashes per joule, and USD per kWh.

Plot

Updates

2011-06-12 02:02 UTC — Updated to new Tradehill API URLs
2011-06-11 02:31 UTC — Added comparison to mining
2011-06-10 14:00 UTC — Added Bitomat
2011-06-10 12:37 UTC — Added plot of missed opportunities
2011-06-10 11:46 UTC — Added Tradehill (assuming 0.25% fee on sale)
2011-06-10 11:24 UTC — Mt Gox' 0.65% fee is now factored in

Misc

Contact: morten.hustveit@gmail.com. Donations: 1KYdC5yz8dfg8rXUtcXfm1Fmqj9TNEh2Zb