Crypto Arbitrage Bot

Inspiration

Financial companies and investment firms have been performing arbitrage for years on stock markets. However, these financial institutes refrain from getting involved with crypto-currencies because of the reputation associated with them. Our trading bot risk-free because it would only execute transactions if it finds an arbitrage opportunity on different exchanges.

What it does

Using the basis of arbitrage, the bot buys and sell cryptocurrencies across multiple exchanges to create a profit. The idea of arbitrage is to take advantage of imbalances in market prices, and acting when there is a difference across the market prices of different exchanges.
Coins: BTC, ETH, XRP, LTC, BCHSV, ZEC. We use BTC to trade against other 5 coins (5 Pairs)
Exchanges include: Binance, Bitfiniex, Poloniex

How we built it

The underlying code is written in JavaScript using WebSocket APIs
The website for our investment firm is written in HTML and CSS

Challenges we ran into

Figure out the fee structures on different crypto exchanges to determine the percentage we need to be flat
Figuring how to avoid deposits and withdrawals fees

Accomplishments that we're proud of

-Our arbitrage is risk-free (keep a certain amount of 6 coins on every exchange to avoid fees associated with moving coins across exchanges)

What we learned

JavaScript, HTML, CSS, implementing APIs... Our team members were inexperienced with most of the technology but with determination, hard work and sleep deprivation we learned to implement and debug them. We learned to communicate and collaborate to tackle challenging problems with innovative solutions.

What's next for Crypto Arbitrage Bot

Backtesting: test our strategy over a previous trading period to see how it would have performed based on historical data
Start using our own money and see if we can make a profit!