{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,11]],"date-time":"2026-04-11T13:06:46Z","timestamp":1775912806131,"version":"3.50.1"},"reference-count":22,"publisher":"World Scientific Pub Co Pte Ltd","issue":"05","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Int. J. Info. Tech. Dec. Mak."],"published-print":{"date-parts":[[2025,7]]},"abstract":"<jats:p> The emergence of decentralized finance (DeFi) allows arbitrageurs to obtain risk-free income from price gaps of cryptocurrency tokens in many global markets. Several automated arbitrage techniques have been invented to profit from single or multiple platforms, including Centralized and Decentralized Exchange (CEX and DEX), triangular, and DEX-Fait. This paper proposes the arbitrage strategy of cross-cryptocurrency exchanges (ASCEX), a novel automated arbitrage strategy for CEX-DEX platforms, to maximize profit and loss (PNL) using a token route searching algorithm. Based on feature comparison, ASCEX outperforms the existing trading strategies available. Our actual trade experiment shows that ASCEX can generate up to 0.95% monthly risk-free profit compared to 0.34% trading on DEX alone. <\/jats:p>","DOI":"10.1142\/s0219622025500130","type":"journal-article","created":{"date-parts":[[2025,2,11]],"date-time":"2025-02-11T10:59:20Z","timestamp":1739271560000},"page":"1521-1537","source":"Crossref","is-referenced-by-count":1,"title":["The Automated Arbitrage Strategy of Cross-Cryptocurrency Exchanges"],"prefix":"10.1142","volume":"24","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-1915-036X","authenticated-orcid":false,"given":"Warodom","family":"Werapun","sequence":"first","affiliation":[{"name":"College of Computing, Prince of Songkla University, Kathu, Phuket 83120, Thailand"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0009-0004-8314-0611","authenticated-orcid":false,"given":"Naratorn","family":"Boonpeam","sequence":"additional","affiliation":[{"name":"College of Computing, Prince of Songkla University, Kathu, Phuket 83120, Thailand"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-2157-679X","authenticated-orcid":false,"given":"Esther","family":"Sangiamkul","sequence":"additional","affiliation":[{"name":"College of Computing, Prince of Songkla University, Kathu, Phuket 83120, Thailand"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-9519-0833","authenticated-orcid":false,"given":"Jakapan","family":"Suaboot","sequence":"additional","affiliation":[{"name":"College of Computing, Prince of Songkla University, Kathu, Phuket 83120, Thailand"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"219","published-online":{"date-parts":[[2025,3,22]]},"reference":[{"key":"S0219622025500130BIB001","doi-asserted-by":"publisher","DOI":"10.1086\/296491"},{"key":"S0219622025500130BIB002","first-page":"407","volume-title":"Modern Machine Learning Technologies and Data Science Workshop. Proc. 3rd Int. Workshop (MoMLeT&DS)","author":"Levus R.","year":"2021"},{"key":"S0219622025500130BIB003","doi-asserted-by":"publisher","DOI":"10.1257\/089533003321164958"},{"issue":"7","key":"S0219622025500130BIB004","first-page":"1","volume":"5","author":"Xu M.","year":"2019","journal-title":"Financial Innovation"},{"key":"S0219622025500130BIB005","doi-asserted-by":"publisher","DOI":"10.1016\/j.jfineco.2019.07.001"},{"key":"S0219622025500130BIB006","doi-asserted-by":"publisher","DOI":"10.1016\/j.najef.2020.101348"},{"key":"S0219622025500130BIB007","doi-asserted-by":"publisher","DOI":"10.3390\/informatics10010003"},{"key":"S0219622025500130BIB008","doi-asserted-by":"publisher","DOI":"10.1016\/j.najef.2022.101813"},{"key":"S0219622025500130BIB009","doi-asserted-by":"publisher","DOI":"10.3390\/g7030016"},{"key":"S0219622025500130BIB010","first-page":"1","author":"Li T.","year":"2024","journal-title":"INFORMS Journal on Computing"},{"issue":"1","key":"S0219622025500130BIB011","first-page":"105","volume":"5","author":"Dong H.","year":"2015","journal-title":"Journal of Economics, Management and Trade"},{"key":"S0219622025500130BIB012","doi-asserted-by":"publisher","DOI":"10.1016\/j.infoecopol.2017.02.002"},{"key":"S0219622025500130BIB014","doi-asserted-by":"publisher","DOI":"10.1109\/ECTI-CON51831.2021.9454673"},{"key":"S0219622025500130BIB015","doi-asserted-by":"publisher","DOI":"10.1109\/SP40001.2021.00027"},{"key":"S0219622025500130BIB016","doi-asserted-by":"publisher","DOI":"10.1145\/3487553.3524201"},{"key":"S0219622025500130BIB017","doi-asserted-by":"publisher","DOI":"10.1080\/0015198X.2020.1733902"},{"key":"S0219622025500130BIB018","first-page":"544","volume":"19","author":"Goldstein H. N.","year":"1964","journal-title":"The Journal of Finance"},{"key":"S0219622025500130BIB019","doi-asserted-by":"publisher","DOI":"10.1016\/j.physrep.2020.10.005"},{"key":"S0219622025500130BIB023","doi-asserted-by":"publisher","DOI":"10.14254\/2071-8330.2019\/12-1\/12"},{"key":"S0219622025500130BIB024","doi-asserted-by":"publisher","DOI":"10.3934\/QFE.2019.2.347"},{"key":"S0219622025500130BIB025","first-page":"1353","volume-title":"27th USENIX Security Symp. (USENIX Security 18)","author":"Kalodner H.","year":"2018"},{"issue":"3","key":"S0219622025500130BIB028","first-page":"845","volume":"44","author":"Boonpeam N.","year":"2022","journal-title":"Songklanakarin Journal of Science and Technology"}],"container-title":["International Journal of Information Technology &amp; Decision Making"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S0219622025500130","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,7,28]],"date-time":"2025-07-28T08:54:08Z","timestamp":1753692848000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/10.1142\/S0219622025500130"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,3,22]]},"references-count":22,"journal-issue":{"issue":"05","published-print":{"date-parts":[[2025,7]]}},"alternative-id":["10.1142\/S0219622025500130"],"URL":"https:\/\/doi.org\/10.1142\/s0219622025500130","relation":{},"ISSN":["0219-6220","1793-6845"],"issn-type":[{"value":"0219-6220","type":"print"},{"value":"1793-6845","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,3,22]]}}}