CB BNT ARB Opportunity

BNT Price on CB has been consistently diverging from Binance and other exchanges over the last day. Currently a $0.30-35 swing. Do with this information what you will.

tradingview.com/symbols/BNTUSD/

Attached: cb bnt.png (990x621, 41.2K)

I noticed this yesterday so I grabbed 1.5k bnt at the discount on cb. can you please explain what this means to a brainlet like me?

It means you can buy on CB, send to Binance, sell for a profit. Move funds back to CB and buy more, send to Binance and sell for a profit, repeat until the arbitrage gap closes. I'm surprised it has remained an arb opportunity for so long. Normally bots close these gaps in a few minutes. If I had to guess, the majority of paper hands are on CB providing the most selling pressure while other smarter money resides on the other exchanges knowing wtf they are holding. BNT painting a cup and handle currently and if/when it breaks higher has a good chance to make a massive move. The cup and handle formation is one of the most bullish chart patterns in trading.

Thanks. Currently a $0.50 gap! $5.10 vs $5.60.

I went all in on this thing yesterday at 6$ and I feel like im getting financially disintegrated

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Nevermind, blockfolio glitch. Still at $.35+

you will never time the bottom, all in is a risky move. luckily you bought a sleeping giant. $6 was not the top.

still a good arb spread. on 1000 BNT buy for $5300 on cb and send to binance for an easy 5600 sale, netting a $300 profit for a few mins of work.

I’m now up to 75% total stack in this. The non-diversified swings are nightmare fuel

Yeah this is a good play, I'm about 50% this, 20% Nu, and 30% usd right now. Just waiting for the supply to continue to get staked.

Can you just keep doing this for easy money? Wtf? There has to be some sort of check in place right, or some preventative feature aside from daily withdrawal limits

Include GRT instead of Nu and we're practically the same

No, it is a basic market stabilizing mechanism. Usually it's mostly bots doing it.

At current differences, I could just keep swinging $10k for $800 profit? How has this been happening since yesterday? Said I’d never do business with China, but I feel like I could made $50k on this by now. Something feels off

>No, it is a basic market stabilizing mechanism. Usually it's mostly bots doing it.
That's what's crazy about this one, the bots are sleeping on it...it's been diverging for over 12 hours, if it's still a good spread by the time I get off work I'll be riding the carousel for some free money tonight.

I thought arbitrage gains were offset mostly by fees from transferring multiple times before making a profit at the end of one trade? Aka transferring 100 usd from your bank, buying coin X, transferring X to another exchange, and selling X on that exchange for a 10% profit involves many steps with fees on each one relative to your total investment in that single trade. Not to mention mistakes made/fluctuation accenting for further losses to that 10%. Seems like a lot of work that gets its small gain further eaten away, but correct me if I'm wrong.

true, but the spread on this between cb and binance accounts for much more than the applicable fees.

Coinbase doesn't let me trade in my country
Have you guys been able to successfully buy BNT from cb and transfer?

Also true. Sounds like you need money to make money on this one though. 50k vs a measly 5k would make this easy profit much more satisfying, but I'll take what I can get.

maaaan bnt not listed on binance us

Yeah, the spread needs to be high enough. That's why it's mostly done by bots, they can calculate profits so quickly. Guess no one added this one to their lists.

Could this thing with bots not working be due to network problems with binance? Theres been problems all day

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You can use Exodus to exchange for it

unfortunately its offline on the exodus echange

Attached: unavailable.png (2348x232, 63.36K)

this is the case probably, doesn't let me send my BNT from CB to Binance either.. says they're under maintenance

Should I sell my BNT on binance? Seems like the price would drop due to this

This is why I come here.