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Desperately Seeking ODL Liquidity - Bitso Watch


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If I'm interpreting your charts right, it looks to me as if there are several "waves" of transactions being put through. The increasing slope of the heights of each wave, suggests to me that there are simultaneous pulse-like increases of liquidity, in order to match the demand before reaching the software's spread limit.  ODL's growth, as seen when transaction values ramp up in accordance with the maximum spread allowed.  Thanks for your post! 

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For those of you whom have not been following our posts in Molten's "MGI ODL Bitso Theory About Price" thread, here is a quick re-cap. And then is my report on what trading event we captured whic

UPDATE: Verifying the arbitrage imbalance today... Since I posted the below chart this morning, this unusual "overlap" condition persists (arbitrage opportunity). For all these hours !! So

ROTFL Funny thing, heh. As I tend to be lazy coding for POC kinna hobby projects like this, I didn't put in limit checks for abnormal market action, and my code was blowing up the server. erp. Ha

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13 minutes ago, WuWei said:

If I'm interpreting your charts right, it looks to me as if there are several "waves" of transactions being put through. The increasing slope of the heights of each wave, suggests to me that there are simultaneous pulse-like increases of liquidity, in order to match the demand before reaching the software's spread limit.  ODL's growth, as seen when transaction values ramp up in accordance with the maximum spread allowed.  Thanks for your post! 

That's great feedback WuWei, thanks for sharing.

I'm trying out different param inputs, the results are getting most intriguing.

Do you have any suggestions to explore ?
My options available now, are:

  • Order Books sample rate (currently at one per minute)
  • X-Axis count
  • Number of aggregated seconds per tic-span to average (from the saved minute records)

There is another issue I saw in Eri's last video, regarding the frequency of FX rate - currently I'm only getting a once a (business) day update, and I suspect that's not sufficient, and could skew the output. It's on my list of todo items :)

Cheers WuWei  

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23 minutes ago, JASCoder said:

There is another issue I saw in Eri's last video, regarding the frequency of FX rate - currently I'm only getting a once a (business) day update, and I suspect that's not sufficient, and could skew the output. It's on my list of todo items :)

Dunno if it’s the best option but a google gave me this one...

https://exchangeratesapi.io/

Seems like it’s able to get current rate.  It or one like it might help.

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1 hour ago, Tinyaccount said:

Dunno if it’s the best option but a google gave me this one...

https://exchangeratesapi.io/

Seems like it’s able to get current rate.  It or one like it might help.

Thanks Tiny !
That's actually the one I'm using :) 

The one Eri was sharing was provided by VISA, I'll research it and see if it's more frequent.

The old days of "banker's hours" needs to catch up with the Always Live crypto age !

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  • 2 weeks later...

UPDATE: Verifying the arbitrage imbalance today...

Since I posted the below chart this morning, this unusual "overlap" condition persists (arbitrage opportunity).
For all these hours !!

So I did a manual "sanity check."

Here is what I did...

Checking the two prices at the two exchanges: Bitstamp selling at 0.235, Bitso buying at 4.57 MXN 

There are two different rates on USD/MXN FX: (Visa: 19.14, Exchangeratesapi.io: 19.25)
This converts to: $ 0.238 and 0.237 ( PROFIT TIME !! )

FWIW - running the slippage calculator script:
Moving $1000 nets you 10.72 ( slippage of -1.10% )
And we're still seeing a $400,000 bid depth at Bisto at 0.227

This flywheel has been greased for the next ramp-up ?

Interesting times mates !

Ref:
 - https://api.exchangeratesapi.io/latest?base=USD
 - https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html?amount=1&fee=0&exchangedate=03%2F04%2F2020&fromCurr=USD&toCurr=MXN&submitButton=Calculate+exchange+rate
 

886949187_ScreenShot2020-03-04at10_01_36AM.thumb.png.8f0e1ef29bc0ca90428b870bc8311a4a.png

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1 hour ago, JASCoder said:

UPDATE: Verifying the arbitrage imbalance today...

Since I posted the below chart this morning, this unusual "overlap" condition persists (arbitrage opportunity).
For all these hours !!

So I did a manual "sanity check."

Here is what I did...

Checking the two prices at the two exchanges: Bitstamp selling at 0.235, Bitso buying at 4.57 MXN 

There are two different rates on USD/MXN FX: (Visa: 19.14, Exchangeratesapi.io: 19.25)
This converts to: $ 0.238 and 0.237 ( PROFIT TIME !! )

FWIW - running the slippage calculator script:
Moving $1000 nets you 10.72 ( slippage of -1.10% )
And we're still seeing a $400,000 bid depth at Bisto at 0.227

This flywheel has been greased for the next ramp-up ?

Interesting times mates !

Ref:
 - https://api.exchangeratesapi.io/latest?base=USD
 - https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html?amount=1&fee=0&exchangedate=03%2F04%2F2020&fromCurr=USD&toCurr=MXN&submitButton=Calculate+exchange+rate
 

886949187_ScreenShot2020-03-04at10_01_36AM.thumb.png.8f0e1ef29bc0ca90428b870bc8311a4a.png

Thanks @JASCoder! To confirm the above analysis, an arbitrage opportunity exists for market makers based on current XRP prices at Bitso? Does this indicate prices need to rise or decline in order for the arbitrage opportunity to go away? Or does this imply that market makers are more likely to buy XRP at current prices and profit from the current arbitrage opportunity? If it's the latter, what is the effect on XRP's price?

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47 minutes ago, Mpolnet said:

Thanks @JASCoder! To confirm the above analysis, an arbitrage opportunity exists for market makers based on current XRP prices at Bitso? Does this indicate prices need to rise or decline in order for the arbitrage opportunity to go away? Or does this imply that market makers are more likely to buy XRP at current prices and profit from the current arbitrage opportunity? If it's the latter, what is the effect on XRP's price?

Below is what the (reverse) slippage looks like right this moment (02:02UTC 05MAR2020) at 19.25 FX).

Typically the "Sprd" slippage cost has been showing 0.4% to 0.8% - and a cost, not a profit.
This current situation is showing an on-going opportunity, the pricing in normal conditions don't have an overlapped spread like we see above.

I have a new chart almost done, that will show these slippage metrics over time.

Cheers.

420716621_ScreenShot2020-03-04at6_02_54PM.png.b7f67f80dd0e4c2eb2184129bbe19725.png

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The Three Charts of the Apocalypse 

It's Sunday 08MAR2020 - 18:00 UTC - and crypto just got a Sunday Funday Smackabout.

I wish to capture some interesting charting of the recent few hours, for future reference and perhaps some contemporaneous pondering...

What you see below, is TradingView's rendering of recent XRP/USD volume and pricing action, and two of my charts showing the related ODL slippage action in the BS/Bitstamp corridor and Bitso's last 36 hours of XRP trade volume (not price adjusted).

( Note: The vertical axis of the slippage history is in percentages of loss (eg. 1% for $5000 = $50 cost, aka "friction") )
 

1064099098_ScreenShot2020-03-08at11_00_59AM.thumb.png.38e80c384d16a5a70604db86c1b6835b.png

2000347177_ScreenShot2020-03-08at11_02_46AM.thumb.png.52babee0d14f59f01b07be6e3ef16277.png

Edited by JASCoder
Clarification of Y axis
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