In this article we will explain all the setting we have for the Market arbitrage bot and the Exchange arbitrage bot. Since most settings are the same we have 1 article for this.
Basic settings
Name: Give your bot a name, so you can identify this bot when you have more than 1 bot.
Max open time buy: Determine the number of minutes a buy order remains open before the order gets canceled. Orders may get partially filled.
Max open time sell: Determine the number of minutes a sell order remains open before the order gets canceled. Orders may get partially filled.
Exchanges
Paper trading: When enabled, paper trading allows you to trade using real life exchange data with simulated crypto. In other words, it is play money without risking any actual funds. Ideal to get familiar with automated trading. Do not forget to deposit funds of your selected quote currency to open new positions.
Notifications
Notification on trade: Switch the toggle if you want to receive a notification when your bot made a trade.
Notification on trade error: Switch the toggle if you want to receive a notification when there's a trade error.
Notify on canceled order: Switch the toggle if you want to receive a notification when an order is canceled.
Coins and amounts
Percentage sell amount: Set the percentage which it should use to create the amounts which are being traded.
Ignore different amounts: When enabled your bot will continue with an arbitrage even if the amounts do not match after calculation and formatting. This could result in selling/buying more of a currency in another arbitrage step and result in incorrect profit percentages. For more information on this setting see this article.
Exchange arbitrage settings
Minimum profit: The minimum profit you want to make on an arbitrage trade.
Max open time arbitrage: The number of minutes an arbitrage remains open before the arbitrage is cancelled.
Max simultaneous arbitrages: Enter the maximum number of simultaneous/concurrent arbitrages. The minimum is 1 and the maximum is 5.
Order type: Select the order type for exchange arbitrage orders: limit or market orders.
Orderbook matching: Check the orderbooks of both exchanges and match orders with the orderbook.
Fill or kill (only when orderbook matching is enabled): Check the orderbook if the arbitrage can be filled or kill the arbitrage when the orders cannot be filled based on the orderbook.
Use buy rate: Which buy prices should the exchange arbitrage check. Default is lowest ask.
Use sell rate: Which sell prices should the exchange arbitrage check. Default is highest bid.
Market arbitrage settings
Minimum profit: The minimum profit you want to make on an arbitrage trade.
Max open time arbitrage: The number of minutes an arbitrage remains open before the arbitrage is cancelled.
Max simultaneous arbitrages: Enter the maximum number of simultaneous/concurrent arbitrages. The minimum is 1 and the maximum is 5.
Order type: Select the order type for exchange arbitrage orders: limit or market orders.
Orderbook matching: Check the orderbooks of both exchanges and match orders with the orderbook.
Fill or kill (only when orderbook matching is enabled): Check the orderbook if the arbitrage can be filled or kill the arbitrage when the orders cannot be filled based on the orderbook.
Use buy rate: Which buy prices should the exchange arbitrage check. Default is lowest ask.
Use sell rate: Which sell prices should the exchange arbitrage check. Default is highest bid.
Order sequence: Select in which sequence you want your market arbitrage orders to be placed.
Revert & backlog
Automatic merge backlog: When enabled your backlogs will be automatically merged together.
Move failed to backlog: When enabled arbitrage orders which are failed or cancelled will be automatically moved to your backlog.
Automatic match backlog (only when Move failed to backlog is enabled): When enabled arbitrage orders moved to the backlog will be automatically matched together if it will result in a correct and successful match: same amounts, same price or profitable.
Revert cancelled orders: Select if you want to revert cancelled and failed arbitrage orders. If for example a sell is successful and a buy order is cancelled, the buy order will be placed again at a different price and the profit/loss will be recalculated.
Order type (only when revert cancelled orders is enabled): Select the order type for reverting cancelled orders: limit or market orders.
Enable take profit: Enable if you want to set up a take profit for your backlogs.
Take profit at: Configure the take profit percentage which you want to make on backlogs.
Only revert/retry with profit: Enable when you want the revert/retry to be with profit. Keep in mind if you use market orders it can still be a loss.
Maximum loss %: If configured, the bot will revert/retry the position in the backlog that are above this percentage. If the position is below the maximum loss %, the bot won’t try to revert/retry the position.
Enable stop-loss: If you enable this setting, the bot will sell your positions with a loss if they go lower than the percentage configured. It is possible to change the Stop loss percentage of an open position by clicking on Info in the open position on the Dashboard.
Stop-loss percentage (only when stop-loss is enabled): Determine the percentage for your stop loss orders, and enter it as a positive number. For example, if you want to sell your positions when the price drops more than 2.5 percent, you would enter 2.5 here.
Use revert pricing: Select the option you want to use.