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RE: Coin Watch : Bitcoin Arbitrage Tool
There is really very little profits to be made doing arbitrage with Bitcoin IMO. Expecially if you are trying to profit through more complex interactions, fees add up.
Yes, that's definitely true. Fees can easily eat up any potential profit. The way that I think about the price gap is that it helps give indicators on when to buy, by stacking the odds in your favor ever so slightly. If you buy during a price gap on the lower side, the prices should eventually equalize, which may marginally raise your odds of profit. This is a more passive version of arbitrage vs active trading between the two systems.
Gotcha there