Welcome back to our series on arbitrage trading in crypto markets. In the first two posts, we covered the basics and the concepts you need to get started. Now, it's time to dive into the practical side of things. In this third post, we'll explore the tools and resources that can help you succeed in arbitrage trading. From handy trading bots to must-have analytical platforms, we'll talk about everything you need to make smart, profitable trades. Several tools and resources can aid in executing arbitrage methods effectively. I hope these tools and resources will help you to become a successful arbitrage trader in the crypto world. Let’s start.
Arbitrage Bots:
They are automated trading bots. They can execute arbitrage trades faster than human traders. These bots increase the chances of capturing fleeting opportunities. These bots can be programmed to monitor multiple exchanges & execute trades when predefined conditions are met. Two popular arbitrage bots in crypto trading are HAASBOT and GIMMER. Both support trading strategies with arbitrage having customizable settings and integrations with major exchanges including automated strategies and backtesting.
Price Trackers:
Websites and applications that track cryptocurrency prices across multiple exchanges can help traders identify arbitrage opportunities. Tools like CoinMarketCap, CryptoCompare, and Arbitrage scanners are commonly used.
APIs:
Many exchanges offer APIs (Application Programming Interfaces). The APIs give opportunity to traders to access real-time data and execute trades programmatically. This can be useful for implementing automated trading strategies. COINAPI is widely used in arbitrage trading for its comprehensive market data. It provides real-time and historical data from a huge number of exchanges. With the help of APIs, traders can identify arbitrage opportunities quickly and accurately with its fast and reliable API services.
That's a wrap on the tools and resources you need for arbitrage trading in crypto markets. Stay tuned for the next post, where we'll discuss the pros and cons of this trading strategy.
~ Regards,
VEIGO (Community Mod)
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I think with bots it must be easy to perform the arbitrary trading as things can be more automated and the probability to make more money is higher than the manual efforts.
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