Is bitcoin arbitrage profit varies with BTC market price? Consider the following scenario, 

I have 365 USD in Btc-e and 1 BTC in Cryptsy, now I bought 1 BTC at a price of 362 USD in Btc-e and sell it on Cryptsy with 370 USD, now I made the profit of 4 USD (included txn fee), now the current market price of 1 BTC is 370 USD

Market price I mentioned was 1 BTC = 360 USD


How the market price affect my profit?
Still I have 8 USD profit in Cryptsy or I made a loss/profit with respect to market price?
If you want to make money on arbitrage like this, you should have reserves on both exchanges, and at the moment when you are buying in btc-e, you should sell at cryptsy (for example). Otherwise te price can change to "wrong" direction when you are transfering bitcoins from btc-e to cryptsy or vice versa. Also, you should understand how to withdraw/deposit fiat to this exchanges fast with minimal expences, that can be the biggest issue especially for btc-e.