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the problem with cryptocurrency arbitrage is that the profit depends on how fast/reliable the various exchanges process your transactions and how much the transaction fees are and not how sophisticated your algorithm is.

nice read: https://steemit.com/arbitrage/@kesor/the-math-behind-cross-e...

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Maybe nit-picking ... but shouldn't a very sophisticated algorithm precisely incorporate the reliability/speed of the various exchanges (maybe based on past and current latency or downtime which weighs the risk of a transaction not clearing at a given exchange). The smartest algorithm should be able to win such a battle on average.

And the handful of cryptos that don't have tx fees (NEO/IOTA spring to mind) have already been arbitraged to within ¢¢¢ of each other.

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