Verdict up front: Coingapp promises to “find the best arbitrage opportunities between Crypto Currency exchanges” and has passed 100,000 installs on a 4.6 rating. Its own published exchange list includes venues that were hacked, liquidated or shut down years ago — and a price from a dead exchange is a gap nobody can trade.
Listing facts — checked 24 September 2026
- App: Coingapp — Crypto Arbitrage Opportunities (com.coingapp.android)
- Developer: Codeaven Inc. · 100,000+ downloads · 4.6 stars from 1,710 reviews · category Finance · updated 10 August 2026
- Exchanges named in the listing include: Cryptopia (hacked in 2019, placed in liquidation) · C-CEX (closed 2019) · CoinExchange (closed 2019) · BleuTrade · coinroom · AllCoin · Bit-Z
- Also named: Bittrex, whose US operations wound down in 2023
- Advertised features: “Warn Low Volume Transactions” and “Show / Hide Disabled Transactions” — the developer knows the data goes stale
- Not disclosed: no company jurisdiction, regulator, data-source disclosure or accuracy record
A gap needs two live venues
Arbitrage means buying on one exchange and selling on another at a higher price. It requires both to be open, both to accept your deposit and both to process your withdrawal.
When one side of the comparison is a venue that no longer trades, the number displayed is not an opportunity. It is the last price that venue ever showed, sitting next to a live price, producing a spread that looks spectacular and cannot be executed at any size.
The developer built warnings for its own data
Two of the advertised features are Warn Low Volume Transactions and Show / Hide Disabled Transactions. Both exist because the feed contains pairs that cannot actually be traded.
That is more honest than most apps in this category, and it is also the point. A tool that ships a control for hiding unusable rows is telling you that unusable rows are a normal part of what it returns — and the burden of telling them apart sits with the user.
What 4.6 stars is measuring
A 4.6 average across 1,710 reviews is high, and it is worth being precise about what it reflects: an app that installs cleanly, refreshes quickly and displays a long list of numbers.
It does not reflect whether anyone made money. The rating is written in the first days of use, when a screen full of double-digit percentages looks like a discovery. The cost of finding out appears later, in fees paid on both sides of a trade that was never really available.
The arithmetic before any trade
Subtract the taker fee on the buy, the taker fee on the sell, the blockchain transfer fee, the withdrawal fee at the source exchange, and the slippage on a thin order book.
Then add the time. Moving a coin between venues takes minutes to hours, and the gap closes in seconds. That is why serious arbitrage is run by firms holding pre-funded balances on every venue at once — and why a retail user chasing a listed spread is usually arriving after it has gone.
- Check the exchange list against reality before trusting any spread.
- A dead venue’s last price produces the biggest and most useless gaps.
- Net the fees on both sides plus transfer costs before calling anything profit.
- Ratings measure the interface, not the outcome.
If you have already paid
Check the fee schedules and withdrawal times on both exchanges before acting on any displayed spread, and verify each venue is still trading. If you have funds stranded on an exchange that has closed, contact its administrator or liquidator rather than the app, and ignore any recovery service that asks for payment in advance.
