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Definitely worth a healthy dose of skepticism and a code review.

Perhaps they wrote it for their own use, then were unable to make it consistently profitable to a worthwhile degree, so they just open-sourced it?

Agreed. I would find it hard to believe that there still exists an arbitrage opportunity here, 5 years after bitcoin went (somewhat) mainstream.

> 5 years after bitcoin went (somewhat) mainstream.

Arbitrage is as much about volume as it is about differences in price. Volume is something bitcoin markets do not really have (compared to most other financial markets).

People aren't rational.