I've long wanted to understand crypto arbitrage, but the theory is overwhelming. I decided to systematize it—maybe someone can point out where I'm going wrong.

The essence is simple: crypto arbitrage works on the price difference of the same asset across different platforms. Buy cheaper here, sell higher there, and profit from the spread. It sounds easy, but why is this even possible?

Prices differ because each platform has its own demand and supply balance, quote updates are delayed, plus regional factors influence prices. All of this creates windows of opportunity.

There are several types of arbitrage, and I haven't decided which to try yet. Inter-exchange arbitrage is the most obvious—buy on one major platform and immediately sell on another. For example, ETH is cheaper on one platform and more expensive on another. Simple crypto arbitrage, but with pitfalls.

There's also intra-exchange arbitrage—working within a single platform, exploiting differences between trading pairs. ETH/USDT might be cheaper than ETH/BTC; you convert and profit. Triangular arbitrage is even more complex—chain of exchanges through several pairs on one exchange: USDT → BTC → ETH → back to USDT. And regional options, where you buy on a well-known platform and sell via P2P in local currency with a markup.

How to get started? Accounts on multiple platforms are necessary—that's clear. It's better to keep balances in stablecoins (USDT, USDC) for convenience. Then, you need to monitor prices via specialized sites or bots. The most important thing is to correctly calculate commissions; otherwise, all profits will be eaten up by deposit, withdrawal, and exchange fees. Speed is also critical: while transferring crypto, the price can jump, and the whole scheme collapses. For speed, it's better to use fast networks like TRC-20 or BSC.

I'll try a simple example: BTC costs $96,000 on one platform and $96,100 on another. Buy cheaper, transfer to the second platform, sell higher. Theoretically, $100 profit minus commissions. But here's the catch—fees can be so high that you'll end up losing money. Transfer delays, withdrawal limits on some platforms, risk of bans due to regional restrictions—all must be considered.

Is crypto arbitrage a truly working scheme, or am I missing something? I’m interested to hear opinions from those who have already tried. Maybe there are nuances I haven't seen in the theory stage?