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They're not actually arbitrage opportunities because there's no liquidity. All these exchange hang-ups are why the spreads look so unbalanced, and it's not like traders aren't racing incessantly to correct it.

Unless you have fiat in all the exchanges, bank accounts in multiple countries, and large amounts of cash on hand, you don't really have a chance here. Like most amateur arbitrageurs, you'll just going to end up in the red after all the delays and fees.

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Sort of. Arb means risk free and cost free gains, so this could still count. Lower liquidity could be considered a risk, but some people would take the gains and not care about immediately cashing out, esp since you could trade back to BTC once prices normalize and cash out on the alternate exchange before the withdrawal hiatus is even over.

The bigger issue is the funding costs across exchanges, but the fact that it goes down between events signals that arb-neutral differential is lower than during the event-driven spikes he points out.

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