It's been a while now that I followed a conversation on the Telegram channel
(https://t.me/BitSharesDEX) between two guys arguing about the current price situation of BTS, one mentioned that BTS price was too low (and sh**) and the other one told him:
Then do something about it!
I think that's the point, if we are all just watching the price and moaning about it's going down then nothing will change.
Instead we should do something about it, so I did, or at least it's a try with this project of mine.
I thought it would be nice to have a tool for calculating the spreads on all the different pairs, so I scripted one. It then uploads the outcome to my website and shows plus or minus(-) spread for the choosen asset based on 100 BTS.
https://brokendreams.lima-city.de/
Plus means you will profit from trading the choosen pairs at that time.
For example buy some Silver with BTS and sell it immediately to USD,
which you then convert back to BTS.
I've choosen the coins in favor if they had at least some trading volume on all 5 assets.
Please tell me if you like to see more pairs or all of them in the future, I can add these.
Statements are welcome :)
This is basically triangle arbitrage. You do a loop over three different markets (A:B, B:C, C:A), and end up with a profit in one or more of the assets in question. In addition to making a profit, you benefit the exchange by correcting price imbalances between different markets. It should increase people's courage to trade in any available market.
I think it's a bit hard to understand what the numbers mean on your chart. The "Buy with" and "Sell to" are very understandable, but I wonder if you could shuffle the numbers a bit and show the loop the user could make like this: BTS -> USD -> EUR -> BTS, and display a possible profit as "markets overlap with x%" or something like that. If the number is positive, there's an arbitrage opportunity, if negative, then not.
Thanks for your work! We need people like you :-)
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Thank you very much for your response. You are right, I totally forgot the arrows, I'll update that by the end of day. Let me see what I can do about the loop, maybe it's best when the most profitable position slides to the top and as you said I should get rid of the minus ones.
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prices haven't updated since Dec 18, 2017... looks good, though
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Yes, sorry for that, project is on hold cause I had some server problems here and not that much time to work on it, similar projects in the BitShares network are under development. I will transform that page to some more informative ways in the future.
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How much can you actually make per day with say $10,000 doing this type of arbitrage? Alsoregarding this https://brokendreams.lima-city.de/ how does one use your data to see which pairs have the best arbitrage opportuity? Do the spreads have something to do with it?
Appreciate it thanks
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Hi livenow, sorry I can't calculate the outcome, cause the spread changes every time an order gets filled. It's just an idea I had and that I'm testing right now. The 'Spread in BTS' already shows you an arbitrage opportunity if it's a positive number, basically you'll gain 30 BTS if you buy that asset (for example CADASTRAL) with openBTC and sell it immediately back to BTS. ---- Another topic is that I got informed that there is already a project going on in the BitShares community for developing an automated bot for these kind of functions, take a look here: https://t.me/BTSLiquidityBotWorkerProposal
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Sorry for the outage, data upload went down 2 hours ago, is back to normal by now :/
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