Ngo
Registered Member
- Sep 12, 2017
- 71
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You can do it in under 2 weeks if you do it right, that's my point. Bigger investors are simply too difficult to acquire without proven audience & statistics. I've worked on something similar in the past.
Cryptocurrency Arbitrage Bot - Advice?
- Thread starter mattzoing
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- arbitrage bot cryptocurrency
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You can do it in under 2 weeks if you do it right, that's my point. Bigger investors are simply too difficult to acquire without proven audience & statistics. I've worked on something similar in the past.
Ngo
Registered Member
- Sep 12, 2017
- 71
- 20
Ignore, he's just a bad troll. Looking forward to your PM.
I have a arbitrage bot for sports betting(i didn't automated it, it just shows the arbs then i place it) but never tried on crypto, are you transfering for instance bitcoin from one exchange to another to execute the arb? Or you just for instance 0.001 btc for every exchange then you have also fiat for every exchange and keep buy and selling whenever arbs show and after some time you rebalance the accounts? Also are you making manually the trades or you made an algorithm to place the buys and sells under certain risk criteria?
mattzoing
Newbie
- May 11, 2015
- 28
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Arbitrage bot for sports betting? What "exchanges" are there for sport betting?
Ideally I would keep funds in multiple currencies on each exchange. The bot is able to place the trade by itself, though I don't have that enable just yet in this early version.
It does look for triangular arbs, though in my experience that doesn't work because of the fees, I would say nearly 100% of the arbitrage is between two or more different exchanges.
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Very interesting thread, giving this a follow. Been doing some arbitrage for quite some time as well, i do know a couple of semi whales doing 35+btc in trade volume monthy; and can concur with what Ngo said, several people have actually tried pushing arbitrage bots to these whales without report, test audiences and some proof of results. If someone is gonna dedicate such sums of money they must be darn sure its gonna work. Try picking up the smaller fish first, collate results and put it in a formal report. Use that to pitch your bot to investors or whales.
mattzoing
Newbie
- May 11, 2015
- 28
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Sure, most of them do have.
mattzoing
Newbie
- May 11, 2015
- 28
- 2
Don't know what you mean by "bot software package" but it's written in Java.
usually on sports betting you have sharp books and soft bookies, the sharp bookies are the ones with more volume, move the market lines and take less juice (only 2/3%) examples are pinnacle, sbobet and so on (mostly are asian), the soft bookies(mostly european/american) follow the lines of the sharp bookies and some are slower to change and you can take advantage of it, so you can get 1/2/3% arbs on soccer markets (for instance you bet on the soft bookie team A to win and on pinnacle you bet team B to Not Lose) and if the odds of both events returns more than 100% you got an arb and you can take profit of it.
Problem is this is well known for more than 10 years and the soft bookies just limit your account for you to only place 20€ bets lol so you have to change accounts or change bookies. In crypto you have no limits.
Have you checked triangular arbs on poloniex? I've seen on another forum a tool someone showed consistent results trading those type of arbs on that exchange.
bizo
Junior Member
- Sep 18, 2016
- 172
- 24
@mattzoing I have an investor that's looking to invest some serious $ into the Crypto Arb, do you still see success there ? did you manage to scale so far? in any matter would be happy to chat, sent me a PM is still relevant
I've been thinking about arbitrage, too.
Cross-exchange arbitrage has too many variables you can hardly control - at least for my liking - hence I'll go the intra-exchange way. It's very hard to implement, though. But I'm a coder always looking for a challenge! You need a good system design, very efficient code and find a way to work around quite a few obstacles. Once you've figred that out, it is a lot more predictable, in my opinion.
Prelimiary tests did not reveal any show stoppers, but were rather insightful. I'll write the production code in July/August. Might make a journey thread, then. Let's see whether it works or not...
By the way, don't PM me.
I've just realized I'm a bit off-topic here, so my advice:
Since you've got some funds and given the bot is profitable, just let it run and don't cash out. Profit will grow, eventually, and you're not creating any competition.
Selling the source is mostly a bad idea. You could sell a binary (if you can compile your code), but personally, I would not entrust my API keys to an unkonwn source. The best option would be SaaS (still having the trust issue), which would enable you to charge recurringly or profit based and protect your code. Yet that approach requires investing in infrastructure.
Cross-exchange arbitrage has too many variables you can hardly control - at least for my liking - hence I'll go the intra-exchange way. It's very hard to implement, though. But I'm a coder always looking for a challenge! You need a good system design, very efficient code and find a way to work around quite a few obstacles. Once you've figred that out, it is a lot more predictable, in my opinion.
Prelimiary tests did not reveal any show stoppers, but were rather insightful. I'll write the production code in July/August. Might make a journey thread, then. Let's see whether it works or not...
By the way, don't PM me.
I've just realized I'm a bit off-topic here, so my advice:
Since you've got some funds and given the bot is profitable, just let it run and don't cash out. Profit will grow, eventually, and you're not creating any competition.
Selling the source is mostly a bad idea. You could sell a binary (if you can compile your code), but personally, I would not entrust my API keys to an unkonwn source. The best option would be SaaS (still having the trust issue), which would enable you to charge recurringly or profit based and protect your code. Yet that approach requires investing in infrastructure.
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mattzoing
Newbie
- May 11, 2015
- 28
- 2
I don't see the point of your post but "ok", I guess...
I definitely still see success in here, also I have an updated version with advanced features that I recently added to the bot. I'll PM you in a moment to learn more about your proposition.
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