is pure math. On paper, it would make perfect sense to buy cheaper Bitcoins in the US and sell them on the Korean exchanges right now. You simultaneously buy bitcoin on the cheaper exchange, and sell bitcoin on the more expensive exchange.
The instant some was bought, I immediately bought back the same amount. This also prevents foreigners in Korea from setting up an account and take full advantage of the arbitrage opportunities. In times of high volatility, it is quite easy to make a few hundred rand profit on each bitcoin you trade this way, even with the trading fees on both sides for instant trades. Or perhaps the exchange adds a separate transaction fee which helps them to show a funny". Korean Bitcoin exchanges are showing a rather large price discrepancy compared to the rest of the world. Korbit exchange is quite appealing for traders. If you are, in fact, comparing a buy" with a sell" (from the sameor even different exchanges this wider gap is not unusual, especially for a smaller exchange or one that serves a risky market segment. The bitcoin was bought over about half an hour in small chunks by various buyers, and I had to change the price a couple of times to beat the bots. You exploit the difference in price on different exchanges, and keep the change as free money. The best way around this is to have a float in Rand and bitcoin on each exchange that you are working.