* if there was a profit to be made for free, why wouldn't they invest their own money and take the profit themselves?
* as soon as enough people are arbitraging, the market prices will tend to the same equilibrium price. Buying in the cheapest place will push the price up and selling in the most expensive, down.. until equilibrium (same price)! There will be no profit to be made, but to the ones providing the arbitrage service
*also you need to take into account friction costs (fees) of moving your capital (non-bitcoin) from exchange to exchange. Those cost must be taken into account of the arbitraging price.
* if there was a profit to be made for free, why wouldn't they invest their own money and take the profit themselves?
* as soon as enough people are arbitraging, the market prices will tend to the same equilibrium price. Buying in the cheapest place will push the price up and selling in the most expensive, down.. until equilibrium (same price)! There will be no profit to be made, but to the ones providing the arbitrage service
*also you need to take into account friction costs (fees) of moving your capital (non-bitcoin) from exchange to exchange. Those cost must be taken into account of the arbitraging price.
bottom line: not worth it