原文链接：A Brief Look at Cryptocurrency Arbitrage Trading
译者：听风
As a crypto trader, surely your mind is constantly searching for ways of staying on top of the “game” and getting an edge in your quest to gain larger and larger profits. As a crypto trader, there are various interesting and more or less risky methods of trading you can employ, especially since cryptos are way out of government’s controls, there are a lot of price differences across various exchanges.
One of these methods is called cryptocurrency arbitrage trading and is generally regarded as a very straightforward and low-risk strategy. In this article we will cover various aspects of this interesting trading method such as what is crypto arbitrage trading, how does it work, what are some of the most typical strategy basics, and what are the associated risks.
作为一名加密交易员，你的大脑肯定在不断地寻找保持在“游戏”顶端和挤进探索获得越来越大的利润的方法。作为一名加密交易员，你可以采用各种有趣的或多或少有些风险的交易方法，尤其因为加密是在政府监管之外，所以不同交易所之间的价格差异很大。
其中一种方法称为加密货币套利交易，通常被认为是一种非常直接和低风险的策略。在本文中，我们将介绍这种有趣的交易方法的各个方面，例如什么是加密套利交易，它是如何运作的，最典型的策略基础是什么，以及相关的风险是什么。
What is crypto arbitrage trading?
According to Wikipedia, in typical economic and finance fields, arbitrage is “the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.”
To put it as simple as possible, arbitrage implies you’re buying a particular coin from an exchange A when it’s cheaper than on exchange B, and then sell it on B, and benefiting from the remaining difference. When it comes to crypto arbitrage trading, it can be argued that it works the same as a stock arbitrage. However, there are a few discrepancies that you should be aware of before committing to this trading method.
Since the crypto market is incredibly volatile, the sudden changes can cause bit disparities in price across exchanges. Another aspect worth considering is the fact that since most crypto exchanges are not regulated, the price disparities are only amplified. These price disparities in cryptocurrency exchange prices for a particular coin can be triggered by a multitude of reasons such as low liquidity levels. Finally, contrary to typical arbitrage, cryptocurrency arbitrage trading is a lot more dependent on technology and software.
什么是加密套利交易?
根据维基百科的说法，在典型的经济和金融领域，套利是“利用两个或两个以上市场之间的差价的一种实践:利用这种不平衡达成匹配交易的组合，利润就是市场价格之间的差价。”
简单地说，套利意味着你从a交易所购买一枚硬币当它比B交易所便宜的时候，然后把它在B交易所售出，并从剩余的差价中获益。当涉及到加密套利交易时，可以说它和股票套利是一样的。然而，在决定使用这种交易方法之前，你应该注意到一些差异。
由于加密市场相当的不稳定，一些突然的变化可能导致交易所之间的价格差异。另一个值得考虑的方面是，由于大多数加密交易所没有受到监管，价格差异只会被放大。一种特定硬币的加密货币交换价格的价格差异可能由许多原因引起，例如低流动性水平。最后，与典型的套利不同，加密货币套利交易更依赖于技术和软件。
How to make the most out of crypto arbitrage trading?
There are two ways to proceed with crypto arbitrage trading: you can either opt for the manual version, or you can employ the services of a specialized cryptocurrency arbitrage software or crypto arbitrage bot.
The first version implies a trade by having to manually monitor the price of an asset across a broad spectrum of exchanges. Even though some exchanges offer their users various price tracking tools, it’s easy to see why this method is not exactly practical. This method would require you to be ready at all times to proceed with the arbitrage once a disparity is revealed. One of the most important aspects to keep in mind is the fact that speed is of the utmost importance for a successful arbitrage procedure.
That is just one of the reasons to opt for arbitrage trading with the help of a bot. Arbitrage trading bots are also more reliable than you can ever be, as they are not affected by the same physiological needs as human traders. There are some bots who can keep track of the price of multiple exchanges, but most come with support for only one. However, besides choosing a bot, it’s also important to remember that it needs to be configured properly in order to perform as intended. There’s also a bit of maintenance work involved. For example, you will be required to manually re-balance the wallet.
如何最大限度地利用加密套利交易?
加密套利交易有两种方式: 进行加密套利交易有两种方式:您可以选择手动版本，也可以使用专门的加密货币套利软件或加密套利机器人的服务。
第一个版本意味着交易必须在广泛的交易所范围内手动监控资产价格。尽管一些交易所向用户提供各种价格跟踪工具，但很容易看出为什么这种方法不太实际。这种方法要求您在任何时候都做好准备，以便在发现差异时继续进行套利。要记住的最重要的一点是，速度对于成功的套利过程至关重要。
这只是选择借助机器人进行套利交易的原因之一。套利交易机器人也比你以往任何时候都更可靠，因为它们不像人类交易员那样受到同样的生理需求的影响。有一些机器人可以跟踪多个交易所的价格，但大多数只支持一个交易所。然而，除了选择机器人之外，还必须记住，为了按照预期的方式执行，需要正确地配置机器人。还需要一些维护工作。例如，您需要手动重新平衡钱包。
What about the risks?
Without a doubt, arbitrage cryptocurrency trading limits the downside risks, and it can be a successful method of trading if one has the experience, patience, and inspiration for it. However, there are some inherited risks.
One of the main issues to be aware of is the price decline risk. If, for example, the market’s current state is “bearish,” it might not be worth getting into arbitrage trading since your trading funds will decline in value over time. In short, the profits you generate in this situation may not be enough to actually make a profit (or even cover your loses). This can be somewhat countered by employing a trading method called margin trading, which is not exactly risk-free either. Quite the contrary.
Then there are a lot of risks related to the crypto market’s volatility which implies a lot of price movement. During a bull market, when exchanges experience low volumes, it’s advisable to only sell on one exchange while only buying on the other exchange. The worst case scenario is that while moving your funds across the blockchain and they become unavailable, the initial prices might have already changed drastically. To lower the movement risk as much as possible, you should only use trustworthy exchanges with very good, 24/7 customer support.
There’s also an execution risk associated with crypto arbitrage trading. This risk stems from the possibility of not being able to fulfill the trade from one exchange to another because someone else was faster than you. This is usually a risk associated with manual trading.
那么风险呢?
毫无疑问，套利加密货币交易限制了下行风险，如果有经验、耐心和灵感，它可以是一种成功的交易方式。然而，也存在一些固有风险。
需要注意的主要问题之一是价格下跌风险。例如，如果市场目前处于“熊市”状态，可能不值得进行套利交易，因为你的交易资金将随着时间贬值。简而言之，你在这种情况下产生的利润可能不足以真正盈利(甚至弥补你的损失)。这可以通过使用一种叫做保证金交易的交易方法来解决，这种交易方法也不是完全没有风险。恰恰相反。
其次，与加密市场的波动性有关的风险也很多，这意味着价格会有很大的波动。在牛市中，当交易所交易量较低时，建议只在一个交易所卖出，而在另一个交易所买进。最糟糕的情况是，当你的资金在区块链上转移时，它们变得不可用，最初的价格可能已经发生了巨大的变化。为了尽可能降低移动风险，您应该只使用可靠的交换，并提供非常良好的24/7客户支持。
加密套利交易也存在执行风险。这种风险源于无法完成从一个交易所到另一个交易所的交易，因为其他人比你快。这通常是与手工交易相关的风险。
Conclusion
Before we conclude, it’s important to note that the amount of arbitrage you can perform heavily depends on the market situation, even with bots. Crypto arbitrage trading is without a must-try method for anyone who’s looking to get into crypto trading. We hope that this article has helped you shed some light on the basics of crypto arbitrage trading, and, as with all trading techniques, start small, and if you’re good at it, go on from there.
结论
在我们得出结论之前，重要的是要注意，您可以执行的套利金额在很大程度上取决于市场情况，即使是使用机器人。对于任何想要进入加密交易的人来说，加密套利交易没有一个必须尝试的方法。我们希望本文能够帮助您了解加密套利交易的基础知识，并且，正如所有的交易技术一样，从小处着手，如果您擅长于此，就从这里开始吧。
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