Detail práce

Arbitrage on the Cryptocurrency Markets: An Analysis of Potential Opportunities

Autor: Bc. Vojtěch Suchánek
Rok: 2021 - letní
Vedoucí: Mgr. Nicolas Fanta
Konzultant:
Typ práce: Bakalářská
Jazyk: Anglicky
Stránky: 33
Ocenění:
Odkaz:
Abstrakt: Cryptocurrency markets have currently a lot of attention both from the public and researchers.
This thesis connects the well-documented field of arbitrage with the relatively new bitcoin
phenomenon. Thanks to the efforts of cryptocurrencies for decentralization and non-regulation,
they are an ideal asset for arbitrage trading. This study tries to answer whether price differences
between cryptocurrency exchanges existed during the second and third quartal of 2021 and if it
was possible to perform an arbitrage trading with positive profit. It analyzes several trading
strategies and ways how to execute these trades. An important part of the study is the
involvement of trading fees, which play a crucial role in total profitability but are often omitted
in similar research. The findings confirm that price differences existed during the analyzed
period, and their values allow for profitable arbitrage trading. The best performing strategy uses
stable-coin USDT as a mean of transport money between exchanges, which lowers the time of
one trade and allows multiple trades during one price difference spike. This strategy was able
to gain 362.60% profit over the analyzed period. On the other hand, the distribution of trades
over the analyzed period shows some irregularities, which might have a negative impact on the
consistency of the profit.

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