Introduction
Half the work with arbitrage trading is figuring out where the opportunities are. You can make your system as advanced as you want, but if you can’t find the exchanges and products where all the returns are concentrated then you won’t be very profitable.
In this article, I explain what to look for when deciding on whether to add an exchange and even when you do integrate an exchange the reasons why the initial research showing arbs could be unrealistic (wash flow, internalized flow, etc).
Then, finally — the part most of you are deeply interested in, I explicitly share where the best arbitrage opportunities currently are and can actually be captured based on my own private research.