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/biz/ - Business & Finance

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2472476 No.2472476 [Reply] [Original]

>compsci dropout
>write simple arbitrage bot
>maybe 2000 lines of Python
>expect it to make pennies at best, lose money at worst
>tfw it yielded 5 BTC last month

>> No.2472488
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2472488

>> No.2472519

Fucking hate this exchange:
https://bitbay.net/maintenance
The liquidity isn't too good but sometimes someone buys etherum for 50$ more than on coinbase.
They have an api and 0.43% entrance fee. Have fun.

>> No.2472526

>>2472476
Share?

>> No.2472607

>>2472476
What do you need a bit for? Just buy kraken sell on coinbase 5% profit. Repeat.

>> No.2472636

>>2472607
I thought fees raped you.
I was also under the impression that even an efficient arbitrage strategy would make pennies at most.

>> No.2472656

I only made 10k this week. Pls end me.

>> No.2472680

You can do it manually

The real opportunity is between US and SK/JPY exchanges; huge spreads but shuffling that money is a pain

>> No.2472682

>>2472476
>drop out of an easy major
>be a complete fuckup
>create pointless threads and lie on 4chan

>> No.2472690

>>2472476
Any tips to start making one?

>> No.2472726

Explain yourself op! I have written some python but still basically a noob. What python modules were needed? Did you use something from GitHub and then adapt? What resources did ya use to learn to make this bot? Ya don't gotta post your source code or nuffin but plz help anons with some of that sweet nerd knowledge

>> No.2473338

>>2472680
pls explain more
how to make money?

>> No.2473855

>>2472726
Honestly, I'd use Java instead because it has the absolute best library for crypto exchanges: https://github.com/timmolter/XChange

I wrote my own API libraries using Python Requests

PostgreSQL on an SSD for persistence and transaction support which is important for trading

I recommend making the program as stateless as possible and store all the state in a database

>> No.2473888

>tfw dropped out of masonry program at local high school
>decided to break a brick into pieces and use the sharpest one to kill myself
>accidentally shattered the brick into 1,488 bitcoins instead

>> No.2473909

>>2473888
CHECK'D

>> No.2473951

>>2472682
>get triggered and call cs an easy major
>neet lurking on 4chan, looking for the shittiest of shitcoins to "invest" in

>> No.2473988

>>2473855
>>2472726
SQL skills are the most important for reliable financial data processing
Another hint that may not be obvious to someone who never computed with money: never use floating point, always decimal
Functional programming style helps

>> No.2474009

>>2472488
I dont know why this image always makes me laugh. Is it the eyes?

>> No.2474026

>>2472690
>Any tips to start making one?
Start with a program that collects real-time data from exchanges with the least possible latency, and reliably
Then go forth from there

>> No.2474038

>>2474009
Some images just hit peak lol factor for reasons unknown. When AI can voluntarily generate a picture that evokes laughs is when Skynet takes over.

>> No.2474232
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2474232

Huh

I've been working on something similar. I don't have it doing any trading, yet. Just polling values from Poloniex, Bittrex, and Coinbase APIs.

>> No.2474417

https://github.com/butor/blackbird

is it worth learning how to use those arbitrage bots available on the internet or is it scam?

>> No.2474457

arbitraging btc-usd or btc-alts?

>> No.2474465

>>2472680
This. I do this with the SK ones every week but it is a pain to get all the money back and get it back into the system.

Buy and hold ETH is actually a faster strategy than the arbitrage.

>> No.2474526

Lying and memes aside, what shitcoin would this work on? Need to be able to buy a large initial volume. So any coin on multiple exchanges and only a few hundred SAT

>> No.2475599

>>2472476
arb between what?

>> No.2475673

Buying BTC on any western exchange and selling on SK/JP exchanges obviously makes a good profit, but how do you move the money between them? Someone redpill me on this shit

>> No.2476581

>>2474026
Are you doing cross exchange arbitrage or only within a single exchange

>> No.2476616

>>2474038
this, skynet will create dank ass memes to amuse us and then take over our systems while we are distracted

>> No.2476661

>>2472476
Share the fuckin bot with me please I'm dying

>> No.2476667

>>2472476
Fuck, maybe I need to do this. I setup a php bot and traded just on a single exchange and made .1 btc with like .6 btc, just buying and selling as prices go up/down throughout the day. I think that took the bot like 2-3 months without any optimizing after i first set it up.

>> No.2476683

>>2476667
That's a good return. What did you trade? Ema crossovers?

>> No.2476823

>>2473988
>Another hint that may not be obvious to someone who never computed with money: never use floating point, always decimal

You mean I should use "double" over "float"?

>> No.2476864

>>2476667
That sounds like it's underperforming the market by a huge amount.

>> No.2476901

>>2476823
Are you retarded?

>> No.2477349
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2477349

I'm gonna start building one of these.

Just to be clear, is this is an example of how the bot should work?:
>1 BTC balance on Bittrex
>1 BTC balance on Polo
>Bot detects LTC price is lower on Polo than it is on Bittrex
>Bot buys LTC on Polo and withdraws LTC to Bittrex
>Bot sells LTC on Bittrex at a higher price than it was bought for
>2.1 BTC balance on Bittrex
>0 BTC balance on Polo
>Bot withdraws 1 BTC from Bittrex to Polo

Do I have the right idea or am I way off?

>> No.2477444

>>2477349
That would be too slow to make profit.

>1 BTC balance on Bittrex and Polo
>Bot keeps track of spread (lowest ask - highest bid)
>If spread is negative e.g. Bittrex has bid for $3000, Polo has sell for $2950
>Bot sells on Bittrex for $3000 and buys on Polo for $2950 simultaneously
>Rebalance accounts

>> No.2477486

>>2477444
that makes a lot more sense, thanks

>> No.2477497

>>2477444
How are you buying bitcoin on bittrex, I'm not sure I understand?

>> No.2477521

>>2477497
I assume you would have USD (tether) funds on each exchange as well as the BTC

>> No.2477531

>>2477497
You need at least two currencies in your account to trade against, e.g. btc/ltc or btc/usd

>> No.2477532

>>2472636
that's why you use a bot. pennies add up desu.

>> No.2477549

How the fuck do you beat the other arb bots? Aren't you fucked if you miss a round?

>> No.2477602

>>2477549
Yes. That's why the OP is surprised he made any money at all.

>> No.2477746

>>2474009
i think its the hip thrust

>> No.2477906

>>2477444

Wouldn't the fees pretty much kill your profit? In your example you would be paying about $15 on fees. Plus the withdrawal fee to rebalance the accounts. Assuming the real spreads are not as generous as your example, It seems like you would be barely making pennies at best or you would need to do it in big scale (10+btc at a time) so that the withdrawal fee would be irrelevant. And you would still need to be faster/more efficient than other bots.

>> No.2478647

>>2472476

Good for you, man. The ability to build good code around your ideas is the golden ticket, my friend.

>> No.2478763

save all your trouble, go here instead:

http://www.cryptocoincharts.info/arbitrage

>> No.2478784

>>2477906
You need tons of btc to start. Which is why upthread I asked which shit altcoin this would work on.

>> No.2478818

>>2477746
this

it's literally propelling itself to the moon

>> No.2478838

>>2472476
Can you share a bit what was your bot doing