Over the last week, I’ve managed to wrangle pretty good deals from Deribit and Binance.
UPDATE
We're now LIVE with our offering for a 5-day trial with max 0.05 BTC balance. The market maker will prove itself by working for you before you have to pay us anything! https://www.coindexlabs.com/subscribe
ORIGINAL ARTICLE
First, I acquired 60% of the fee share on Deribit for our front-running account, where Coindex and I will be running a $15,000 trial in the coming weeks; using our proprietary AI and proprietary order risk management through hedging.
Very exciting times!
Deribit also offered their partner program to Coindex (and to me specifically), where we could earn an extra 20% of their fee structure of 0.075% from people we bring in and run our bots on their behalf, after they login to our oAUTH login flow. Then we add some partner request headers and magic so that people everywhere can use my Market Maker.
Check out Sats over 12 hours on market maker account on my largest subscriber by balance, starting at 0.9 BTC! This includes surviving and thriving in a flash crash of BTCUSD by $200 in value.
My efforts at Deribit could not have been as successful without their dead-on support rep @MrJozza!
Next up, Binance.
They welcomed me into their brokers' program. There’s a few models and fee rebate/discount tiers, but once we’re in the master/sub-account model I will gain more granularity in assigning discount rates for my sub-account models.
This allows a ton of additional opportunities, like creating an SaaS-model platform to take advantage of (nearly) 50% off on trading fees for stablecoin-stablecoin pairs.
This will eliminate risk as their value always ranges around $1 and the difference in bid/ask alone (with the applicable discount) means that we can soak up some of the tens of millions of dollars in liquidity via immediately profitable trades.
That’s in the books — same, too, with a funding fee arbitrage bot that buys long and sells short when there’s a premium, across dozens of futures exchanges. Then, it waits for those prices to converge before cashing in considerably.
This actually happened to us with our funding rate arbitrage model on Deribit, some of my users seeing 240% profits all the way up to 10x, 40x.
NOTE
And a little suggestion (read: join Discrod now! https://discord.gg/xuWjAUv) of bigger, better things to come:
Lastly, a little shoutout to this very article you're reading now: having acquired 1 Market Maker user and this LinkedIn invitation in <100 views, I think it's had some immeasurable success!
Note: I checked with El Head Honcho Ryan before sharing this particular private chat screenshot, and 'it's a thumbs up' :)
Things are looking up for me, indeed, loyal readers & newcomers alike! Stay tuned for news & updates, a subscriber portal for this near-perfectly hedged Market Maker (along with Coindex's proprietary, patent-pending neural evolutionary AI predictions) and general feelings of happiness along with a sense of well-being as we cruise through a pandemic!
I hope all is well with you and yours.
Originally published at https://jare.cloud on March 20, 2020.