【聽風譯文】加密貨幣套利交易概述
原文連結：A Brief Look at Cryptocurrency Arbitrage Trading
作者：Vladimir Ciobica
譯者：聽風
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.
作為一名加密交易員，你的大腦肯定在不斷地尋找保持在“遊戲”頂端和擠進探索獲得越來越大的利潤的方法。作為一名加密交易員，你可以採用各種有趣的或多或少有些風險的交易方法，尤其因為加密是在政府監管之外，所以不同交易所之間的價格差異很大。
其中一種方法稱為加密貨幣套利交易，通常被認為是一種非常直接和低風險的策略。在本文中，我們將介紹這種有趣的交易方法的各個方面，例如什麼是加密套利交易，它是如何運作的，最典型的策略基礎是什麼，以及相關的風險是什麼。
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.
什麼是加密套利交易?
根據維基百科的說法，在典型的經濟和金融領域，套利是“利用兩個或兩個以上市場之間的差價的一種實踐:利用這種不平衡達成匹配交易的組合，利潤就是市場價格之間的差價。”
簡單地說，套利意味著你從a交易所購買一枚硬幣當它比B交易所便宜的時候，然後把它在B交易所售出，並從剩餘的差價中獲益。當涉及到加密套利交易時，可以說它和股票套利是一樣的。然而，在決定使用這種交易方法之前，你應該注意到一些差異。
由於加密市場相當的不穩定，一些突然的變化可能導致交易所之間的價格差異。另一個值得考慮的方面是，由於大多數加密交易所沒有受到監管，價格差異只會被放大。一種特定硬幣的加密貨幣交換價格的價格差異可能由許多原因引起，例如低流動性水平。最後，與典型的套利不同，加密貨幣套利交易更依賴於技術和軟體。
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?
加密套利交易有兩種方式: 進行加密套利交易有兩種方式:您可以選擇手動版本，也可以使用專門的加密貨幣套利軟體或加密套利機器人的服務。
第一個版本意味著交易必須在廣泛的交易所範圍內手動監控資產價格。儘管一些交易所向使用者提供各種價格跟蹤工具，但很容易看出為什麼這種方法不太實際。這種方法要求您在任何時候都做好準備，以便在發現差異時繼續進行套利。要記住的最重要的一點是，速度對於成功的套利過程至關重要。
這只是選擇藉助機器人進行套利交易的原因之一。套利交易機器人也比你以往任何時候都更可靠，因為它們不像人類交易員那樣受到同樣的生理需求的影響。有一些機器人可以跟蹤多個交易所的價格，但大多數只支援一個交易所。然而，除了選擇機器人之外，還必須記住，為了按照預期的方式執行，需要正確地配置機器人。還需要一些維護工作。例如，您需要手動重新平衡錢包。
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.
那麼風險呢?
毫無疑問，套利加密貨幣交易限制了下行風險，如果有經驗、耐心和靈感，它可以是一種成功的交易方式。然而，也存在一些固有風險。
需要注意的主要問題之一是價格下跌風險。例如，如果市場目前處於“熊市”狀態，可能不值得進行套利交易，因為你的交易資金將隨著時間貶值。簡而言之，你在這種情況下產生的利潤可能不足以真正盈利(甚至彌補你的損失)。這可以透過使用一種叫做保證金交易的交易方法來解決，這種交易方法也不是完全沒有風險。恰恰相反。
其次，與加密市場的波動性有關的風險也很多，這意味著價格會有很大的波動。在牛市中，當交易所交易量較低時，建議只在一個交易所賣出，而在另一個交易所買進。最糟糕的情況是，當你的資金在區塊鏈上轉移時，它們變得不可用，最初的價格可能已經發生了巨大的變化。為了儘可能降低移動風險，您應該只使用可靠的交換，並提供非常良好的24/7客戶支援。
加密套利交易也存在執行風險。這種風險源於無法完成從一個交易所到另一個交易所的交易，因為其他人比你快。這通常是與手工交易相關的風險。
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.
結論
在我們得出結論之前，重要的是要注意，您可以執行的套利金額在很大程度上取決於市場情況，即使是使用機器人。對於任何想要進入加密交易的人來說，加密套利交易沒有一個必須嘗試的方法。我們希望本文能夠幫助您瞭解加密套利交易的基礎知識，並且，正如所有的交易技術一樣，從小處著手，如果您擅長於此，就從這裡開始吧。
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