This tutorial explains the different settings in the Market Arbitrage bot.
Give your bot a name.
Max open time buy orders
Fill in how long your buy order should stay open on the exchange.
Max open time sell orders
Fill in how long your sell order should stay open on the exchange.
Switch the Paper Trading toggle if you want to trade with simulated funds. If you want to trade with real funds, fill in the API keys of 1 or more exchanges. Use more exchanges so the bot will search all the exchanges separately.
Notification on trade
Switch the toggle if you want to receive a notification when your bot made a trade.
Notification on trade error
Switch the toggle if you want to receive a notification when there’s a trade error.
Notify on canceled order
Switch the toggle if you want to receive a notification when an order is canceled.
Coins and amounts
Percentage sell amount
This is a percentage of your total funds. It will be your standard order size. Make sure that your orders are larger than the minimum order size of the exchanges. You can set different amounts per currency. Configure it under the Percentage Sell Amount.
Ignore different amounts
When this setting is enabled, and if the buy and sell amounts do not match because of decimal amount formatting at the exchange, then arbitrage will still continue with the different buy and sell amounts. This has a small impact on the profit/loss shown in your bot due to profit calculations.
Arbitrage amount per market
Fill in the amounts for each market. We recommend using "USD amount" in combination with "Prefill all markets" as all amounts will be converted in the coins shown.
You need to configure which currencies your bot needs to trade for Market Arbitrage. The currencies will only be loaded after you save. So make sure to save everything first! Now select the markets you want to trade. Remember that you need funds in the quote currency of these markets. You also need to own the currencies you're choosing, otherwise, your bot can't perform the Market Arbitrage. Click the save button again.
Try Paper Trading first so you know which trading pairs offer more trading opportunities.
- When you select very illiquid trading pairs, there’s a high chance that your trades won’t be filled. You will be left with “bags”.
- Using market orders on low-volume currencies can result in big losses. Your orders can fill a significant part of the order book.
Market Arbitrage settings
Fill in the minimum profit. To make a profit take your fees into account.
Max open time Arbitrage
Fill in how long a Market Arbitrage should be open on your exchange. A small portion of your funds are reserved when an order is placed, so you want to cancel orders to have funds free to make other trades.
Max simultaneous Arbitrages
Fill in the amount of Market Arbitrage trades the bot can open. 1 Market Arbitrage is the same as 3 trades.
Select what order type your bot should use. Market orders will be filled immediately, but could result in lower profits or bigger losses. Especially when there’s low volume or high volatility in the market. Limit orders are orders for a specific price and take longer to get filled. Limit orders are recommended.
Switch the toggle to check the order books of all markets and match orders with the order book.
Fill or kill
Switch the toggle to ensure all 3 trades can be fully executed at the same time. If you don’t use Fill or kill, it can result in 1 or 2 of the 3 orders not being filled at the same time. This can result in losses because of fluctuations in the price.
Use buy rate
Select the buy rate.
Use sell rate
Select the sell rate.
Select 1 of the 3 different order sequences. If you own the currencies you need for a Market Arbitrage trade, we recommend selecting "All at the same time, cancel if not possible". This option results in the highest completion rates of your trades as the bot can place all orders at the same time. It will result in fewer trades executed overall. "All orders at the same time if possible, otherwise chronological" results in more trades than the first option mentioned and allows your bot to trade with more different coins. The last option is "Chronological order".
Revert & backlog
The Revert & Backlog is a way to "keep" failed and canceled orders in a backlog, waiting to be traded again.
Let’s say your buy order succeeded, but your sell order failed. Move it to the backlog, so your bot can try it again. It also shows how you're performing and what your loss-making trades are. We recommend using this feature to improve your profitability and ensure you're not left with "bags".
Automatic merge backlog
Switch this toggle so your backlogs will be automatically merged together. For example, if you have multiple sell orders for the same coin that don’t get filled, they will be merged into 1 backlog position.
Move failed to backlog
Switch the toggle to automatically move failed or canceled Market Arbitrage orders to the backlog. We recommend using this feature as not all buy and sell orders will be filled immediately. It shows which orders usually don't get filled and helps you determine which coins to trade.
Automatic match backlog
Switch the toggle so orders in the backlog will automatically be matched if this results in a successful match. So same amounts, same price or profitable.
Revert canceled orders
Switch the toggle so canceled and failed Market Arbitrage orders will be reverted. For example, if a sell is successful and a buy order is canceled, the buy order will be placed again at a different price and the profit/loss will be recalculated.
Select the order type you want to use for reverting canceled orders.
Enable take profit
Switch the toggle if you want those “left-over” orders to make a profit.
Take profit %
Fill in the percentage profit you want to make with the “left-over” orders.
Only revert/retry with profit
Switch the toggle if you only want to revert/retry with a profit.
Maximum loss %
Fill in the %.
Switch the toggle if you want the “left-over” orders to be sold when they go lower than the percentage configured.
Fill in the percentage.
Use revert pricing
Select how you the bot to buy and sell your revert orders.