[eggie5]

I know the exact exercise you are talking about and about 4 years ago it inspired me to try arbitrage on bitcoin across the exchanges. My hopes were soon dashed when I found out how slow everything in bitcoin processes.

Although I did recently see a more sophisticated example of arbitrage where you have money on all the exchanges at once and then you don't actually do a transfer, but you long on one and short on the other. However, I don't think it would work w/ bitcoin b/c I don't think shorting is much of a thing yet.