2014-12-22 02:48:41 Patryn
I don't see anything about verification here?
2014-12-22 02:48:58 Patryn
Love the "references" section btw.
2014-12-22 02:55:02 Patryn
Yeah
2014-12-22 02:55:56 Patryn
Interesting. How is a contract calculated? Doesn't seem to be $100?
2014-12-22 02:56:21 Patryn
Are they different? It just asks "quantity" and price.
2014-12-22 02:56:51 Patryn
I don't see it stating XBU or XBT
2014-12-22 02:56:59 Patryn
aha
2014-12-22 02:57:00 Patryn
ah
2014-12-22 02:57:21 Patryn
XBTH15, one contract $1.15?
2014-12-22 02:57:41 Patryn
$1.
2014-12-22 02:58:04 Patryn
Looks like gross value 0.0032 XBT for 1 contract of XBTH15
2014-12-22 02:58:53 Patryn
Am I looking at this wrong? It seems like one contract is closer to one dollar in the XBT books?
2014-12-22 03:03:10 Patryn
Ah. Gotcha. I guess that becomes more viable once your order books fill up a bit.
2014-12-22 03:06:06 Patryn
So if i were to short 1000 units in XBTH15, I am entering into a contract to sell 3.55 bitcoins for $1260? I find this a bit confusing.
2014-12-22 03:07:25 Patryn
Right, i'm wondering how much profit as the "quantity" contract doesn't seem to correlate to anything that I see.
2014-12-22 03:08:46 Patryn
Say I purchase 3.55 bitcoins at $320 on an exchange at spot right now, and then short 1000 units at $355 on XBTH15, am I pretty much guaranteed $35/coin in March unless you fold?.
2014-12-22 03:09:00 Patryn
So roughly $100 profit after all fees?
2014-12-22 03:11:13 Patryn
Sounds like another guide could be written for double futures + swap earnings.
2014-12-22 03:11:51 Patryn
30% here, 30% to hedge this on another futures exchange, rest in swaps... at least until the arb is gone.
2014-12-22 03:18:51 Patryn
Longest confirmations ever
2014-12-22 03:19:03 Patryn
haha
2014-12-22 03:36:15 Patryn
25m and counting, no confirmations. Slow day.
2014-12-22 04:24:17 Patryn
Which, with 30% deposit, is $596
2014-12-22 04:30:50 Patryn
Those exchanges also only require 2-10% margin. If you manually increase that to the 30% required by Bitmex, you won't find any instances of the market moving quickly enough for that to happen.
2014-12-22 04:31:04 Patryn
I feel that it's more of a risk of high leverage exchanges, not a chinese exchange risk management issue.
2014-12-22 04:32:26 Patryn
Unless I manually add margin on the other exchange as well, no? Outside of a rare clawback situation.
2014-12-22 04:32:46 Patryn
It would need to move by $260 quickly for me to auto liquidate with 30% margin.
2014-12-22 04:32:51 Patryn
You can add margin manually on OKCoin.
2014-12-22 04:32:56 Patryn
In order to match the 30% default on BitMex.
2014-12-22 04:33:54 Patryn
Could do an arb between two futures exchanges with only 30% down.
2014-12-22 04:34:06 Patryn
stick the rest on BFX swaps.
2014-12-22 04:34:21 Patryn
As a profit squeezing comparison to simple arb between two exchanges.
2014-12-22 04:34:45 Patryn
There's roughly $24 difference between the March futures here and on okcoin
2014-12-22 04:35:12 Patryn
I guess if I never check during that time period, it's an issue
2014-12-22 04:35:20 Patryn
As a trader, that's unlikely to happen
2014-12-22 04:36:07 Patryn
Goes down by $260, not to $60
2014-12-22 04:36:11 Patryn
The price would have to be $60.
2014-12-22 04:36:17 Patryn
With 30% margin
2014-12-22 04:36:38 Patryn
Though my math may be missing something
2014-12-22 04:37:28 Patryn
It's hedged in the other direction on the other exchange.
2014-12-22 04:37:42 Patryn
If I lose on one from the price moving down, i'm winning on the other.
2014-12-22 04:38:01 Patryn
I earn from the price gap between the two exchanges, not from price movement. Right now, that gap exists because bitmex is a new exchange.
2014-12-22 04:38:16 Patryn
super thin order book for march.
2014-12-22 04:38:47 Patryn
I just cleared $15 of the order book with under 20 coins. I'm thinking it's a temporary situation.
2014-12-22 04:39:09 Patryn
trying to take advantage of it while I can. Took an hour to get my confirmation, glad nobody took the arb opp.
2014-12-22 04:40:08 Patryn
The fees are extremely high for a new exchange with no MM. I figure they'll change it, people will join, arb will close.
2014-12-22 13:19:50 Patryn
I believe it's currently both EU and US trading hours. Only $100 worth of asks on the March xbt order books.
2014-12-22 13:20:30 Patryn
Sounds like you need more market makers. Your order books are incredibly thin.
2014-12-22 14:08:22 Patryn
Wally, those contracts obviously were not on xbth15 when I complained. There were closer to 250 contracts worth of asks open, or less than one bitcoin worth of risk.
2014-12-22 14:12:06 Patryn
Looks like your mm stuck an ask order at 368. One 40 coin order generally will not be seen as sufficient market depth for many traders to join and pay these fees... I feathered a few more asks in that book ad well. Hopefully helps. Would be cool to be able to close my position reasonably.
2014-12-22 14:16:28 Patryn
His bids are keeping quarterly pretty high. Still good arb available there.
2014-12-23 16:35:48 Patryn
Looks like I currently have approx $9000 worth of open positions. I have over ten coins deposited. Despite only being at 54% margin used (2.63x leverage), my auto liquidation price for my quarterly order is 10% above my avg entry price (389). With the amount of margin available, it should be much higher no? How do I fix this?
2014-12-23 16:36:30 Patryn
avg entry price being 358. Liquidation being 389.
2014-12-23 16:37:08 Patryn
I should have this liquidation price with 10% margin. I see no option to manually add it. As your thin order books are causing a $40 gap for quarterly futures, i'm concerned about liquidation.
2014-12-23 19:51:00 Patryn
Shortly after I mentioned that in chat, the quarterly futures price jumped to $389 haha
2014-12-23 19:51:05 Patryn
Someone tried to liquidate me ;p
2014-12-23 19:53:05 Patryn
Wally: Gotcha. Thanks. It's a bit different from other exchanges, so taking me a bit to get used to.
2014-12-26 08:50:33 Patryn
3 hours until my first bitmex settlement. How exciting.
2014-12-26 16:13:41 Patryn
Where can I see details regarding my settled position?
2014-12-26 19:38:16 Patryn
thank you