Bitcoin arbitrage opportunies last

The evidence is very clear. There are always good opportunities for arbitrage.

Harvard. King's College.

Show real data on how long opportunities last How long bid/ask lasts (or improves? would people want a bot to grab that morsel?)

Several exchanges stay in lockstep. The others don't. HST or collusion, "exchange specialists")

We know HST bots haven't taken over because many good opportunities are still there. HST requires fast systems with fast links. In practice you have to be physically close to each exchange. That works well on a single exchange, like NYSE or NASDAQ. It's a lot harder when the exchanges are scattered all over the world.

A bot bug can wipe you out.

Bots can't handle the unexpected. Humans can.

But you are competing against slow bots and fast humans. Sometimes someone will snatch the very best price.

You can reduce their advantage with simple limit orders. Price your limit order a little off the ideal price. Usually there's a slightly diffent great price still available. Your limit order gets that price.

To make money, you don't have to be first. Just smart.