Binance Futures Market Making Competition
By my count, porting the bot to binance futures cost me about $150 USD and I've traded ~18 btc notional over the last 1k trades, with maybe 4k trades total – according to the exported doc about 80 btc notional traded – in the last 5ish hours.
I'm hoping to expedite my application to enter into the Market Maker Competition.
First off, what does this mean:
The composite score will be calculated taking into account, among other factors:
- Maker volumes
- Bid/offer spread
- Total order size
- Order duration
- Market making time
My bot has an issue editing orders on the books, so my 'order duration' is less than a minute in each case. Are longer order durations worth more in the comp? or shorter?
here's my trade history porting the bot: https://drive.google.com/file/d/1ZxuZKhxMvWHP80oth3xCXAIQE217XIs-/view?usp=sharing
I submitted this article to Hackernoon https://hackernoon.com/@jare:
Traded $1m CAD in 5 hours: Porting a Bot to Binance Futures Market Making Competition
📷Yesterday, Binance announced a Market Maker Competition for their new Futures platform. Included in the competition is $0 Market Maker fees, and a prize pool of $hundreds thousands USDT.
📷I ported Deribit's Python Example Market Maker to Binance Futures, using CCXT to connect the API.
📷I can't seem to edit my orders, so every bot run I cancel all the orders (by looping through open orders..) slowing down the bot considerably.
📷📷In total, in 5ish hours I traded over 80 BTC notional – almost $1m CAD. I lost about $90 USD in fees, and lost about $150 of my deposit.Note that I deposited $250 USD, and traded $1m CAD. That's about $3.37m USD per 24 hours, projected.Over the last 100 trades, since optimizing the params as best as my human mind can achieve, there's been a timespan of 10 minutes.In this 10 minutes, I've traded more than 1 BTC notional, made $0.613 realized gains and paid $1.285 in fees.
When I'm accepted into the Market Maker program, and pay $0 market maker fees, my bot will achieve about 3.6% return on equity per hour. It will trade more than $3m USD notional per day. Moreover, my work Coindex will fund an account with more equity and we'll trade even more than that – and optimize the bot for the evolving market using our proprietary AI.
My work, Coindex, will plug in the input variables into their Neural Evolutionary AI in order to optimize this bot even further.
(Disclaimer: The Author is the Chief Liquidity Officer at Coindex)
I wrote these emails to the market maker contest email:
I've created a market making bot which is a variation of Deribit's sample Python Market Making Bot.
While my trades are good, and profitable, the maker fee is killing my balance slowly.
For reference, I've been building arbitrage and market making bots for a long time, see https://github.com/dunncreativess , and have a Telegram room with 80+ members. One of them tipped me off to your futures Market Making competition.
Moreover, my current employer Coindex has a neural evolutionary AI that takes input variables and creates the most optimized results based on a set of competing genomes.
You can read more about that here: https://hackernoon.com/coindex-labs-novel-search-applied-via-evolutionary-ai-creating-a-money-making-machine-n62j2gei
We'd like to compete as we'd have the chance to win some exposure should we be able to replicate the successes we've had on BitMex, Deriibit, with Binance Futures.
We'd love to be involved..
By my count, porting the bot to binance futures cost me about $150 USD and I've trade ~18 btc notional over the last 1k trades, with maybe 4k trades total – according to the exported doc about 80 btc notional traded – in the last 5ish hours.
I'd love to take part in the market making competition, mostly so I can save a penny here and there on market making fees – also so we can train the Coindex AI to optimize the input variables and maybe win your competition.