I tested this method. Campbx normally have lower price than mtgox. So if we can buy from campbx and turn around sell it on mtgox and get profit then keep on repeating the cycle, we could be potentially making big money, right? WRONG!!!! doesn’t work as expected.
So I tested with $1000, move from my bank to campbx free, took ~4 days. The same day the money available on campbx I immediately purchased some Bitcoin using all available balance, the fee was 0.0055 BTC per transaction. After completed purchased of the BTC, I immediately withdraw the BTC to my wallet and then transfer it to mtgox and immediately sell it for $2 diff, yes I profit some, however with $1000 worth of BTC it isn’t much. mtgox charged fees off course, and on top of that total of $45 to wire money to your bank and it took 7-10days. As you can see it’s not worth it. On top of that campbx and mtgox price are somehow pretty much the same now, it’s synchronized.
Bottom line, arbitrage between Bitcoin BTC exchanges? not feasible due to the long intransit time and fees. If you must spent at least $10K, but these exchanges limit withdrawal so you can’t easily go above $1k, $10k if you’re verified level 1, so it’s not easy. On top of that, as of today these exchanges BTC price are pretty much the same, they’re now synchronized.