BitfinexLendingBot Overview

BitfinexLendingBot (BLB) is a bot written in Go for automatic swap lending on the Bitfinex exchange. It works with all supported currencies (USD, BTC, LTC), is headless, does not require database setups and has unit testing for the lending strategies.

If you still don't have an account with Bitfinex, please use referral link here to register, that way you will get a discount on your lending fees and will support the continued development of this project.

Tutorial

0. Requirements

• Go >= 1.3
• Bitfinex account
• (Optional) glide
• (Optional) Access to Crontab

1. Download or clone the main project and extract files to BitfinexLendingBot directory.

2. Download dependencies

   If using glide:

    cd BitfinexLendingBot/ && glide in && glide update
   

Alternatively, with go get:

    cd BitfinexLendingBot/ && go get -u github.com/eAndrius/bitfinex-go

3. Compile bot (in BitfinexLendingBot directory)

    go build
   

4. Configure bot

   Generate Bitfinex API key and fill "APIKey" and "APISecret" fields in default.conf. For further options see Configuration section.

5. Run the bot and observe output. Note: no actual offers will be placed with --dryrun option.

    ./BitfinexLendingBot --updatelends --dryrun
   

Flags

• --conf Select configuration file. Default value: "default.conf".

  Example:

    ./BitfinexLendingBot --conf=good_strategy.conf
  

• --updatelends Instruct Bot to update lend offerings based on the strategy in configuration file.

  Example:

    ./BitfinexLendingBot --updatelends
  

• --dryrun Output strategy decisions without placing actual lends on the exchange.

  Example:

    ./BitfinexLendingBot --updatelends --dryrun
  

• --logtofile Append Bot log to a file blb.log instead of stdout.

  Example:

    ./BitfinexLendingBot --updatelends --logtofile
  

Scheduling

To run the Bot every 10 minutes with cron ($ crontab -e) use:

*/10 * * * * lockrun -n /tmp/blb.lock BitfinexLendingBot --updatelends --logtofile

Alternatively, to run in GNU Screen or similar use:

while [[ 1 ]]; do timeout 30s BitfinexLendingBot --updatelends --logtofile; sleep 10m; done

Configuration

An example for multiple account configuration in default.conf:

[
    {
        "bitfinex": {
            "APIKey": "<key1>",
            "APISecret": "<secret1>",
            "MinLoanUSD": 50,
            "ActiveWallet": "btc",
            "MaxActiveAmount": -1
        },

        "strategy": {
            "Active": "MarginBot",

            "MarginBot": {
                "MinDailyLendRate": 0.01,
                "SpreadLend": 3,
                "GapBottom": 100,
                "GapTop": 5000,
                "ThirtyDayDailyThreshold": 0.0,
                "HighHoldDailyRate": 0.05,
                "HighHoldAmount": 0.0
            }
        }
    },
    {
        "bitfinex": {
            "APIKey": "<key2>",
            "APISecret": "<secret2>",
            "MinLoanUSD": 50,
            "ActiveWallet": "btc",
            "MaxActiveAmount": -1
        },

        "strategy": {
            "Active": "CascadeBot",

            "CascadeBot": {
                "StartDailyLendRateFRRInc": 0.0012,
                "ReduceDailyLendRate": 0.0001,
                "MinDailyLendRate": 0.01,
                "ReductionIntervalMinutes": 10,
                "LendPeriod": 2,
                "ExponentialDecayMult": 1.0
            }
        }
    }
]

Note: Configuration file is a list of configurations, which means Bot will iterate over all acounts listed in the config file each time.

Bitfinex

General settings for the Bitfinex exchange.

• APIKey String. Your generated Bitfinex API key.

• APISecret String. Your generated Bitfinex API key secret.

• MinLoanUSD Float. Minimum allowable loan on Bitfinex in USD.

• ActiveWallet String. Wallet to use for swap lending. Values: usd, btc, ltc.

• MaxActiveAmount Float. Maximum amount of currency to use for swap lending. Values: <0 (negative) - all available balance; 0 (zero) - nothing (do not offer swaps); >0 (positive) - up to the amount specified.

Strategy

Parameter for setting bot strategy for the account.

• Active String. Which strategy should the bot use for calculating swap lends. Values: MarginBot, CascadeBot.

MarginBot Strategy

Lending strategy inspired by MarginBot.

• MinDailyLendRate Float. The lowest daily lend rate to use for any offer except the HighHold, as it is a special case (warning message is shown in case HighHoldDailyRate < MinDailyLendRate).

• SpreadLend Integer. The number of offers to split the available balance uniformly across the [GapTop, GapBottom] range. If set to 1 all balance will be offered at the rate of GapBottom position.

• GapBottom Float. The depth of lendbook (in volume) to move trough before placing the first offer. If set to 0 first offer will be placed at the rate of lowest ask.

• GapTop Float. The depth of lendbook (in volume) to move trough before placing the last offer. if SpreadLend is set to >1 all offers will be distrbuted uniformly in the [GapTop, GapBottom] range.

• ThirtyDayDailyThreshold Float. Daily lend rate threshold after which we offer lends for 30 days as opposed to 2. If set to 0 all offers will be placed for a 2 day period.

• HighHoldDailyRate Float. Special High Hold offer for keeping a portion of wallet balance at a much higher daily rate. Does not count towards SpreadLend parameter. Always offered for 30 day period.

• HighHoldAmount Float. The amount of currency to offer at the HighHoldDailyRate rate. Does not count towards SpreadLend parameter. Always offered for 30 day period. If set to 0 High Hold offer is not made.

CascadeBot Strategy

Lending strategy inspired by CascadeBot. The strategy is modified so that starting daily lend rate is not defined as an absolute value, but rather than an increment (which can also be negative) to FRR.

• StartDailyLendRateFRRInc Float. The starting rate of FRR + StartDailyLendRateFRRInc that offers will be placed at.

• ReduceDailyLendRate Float. The rate at which to reduce already existing offers every ReductionIntervalMinutes minutes.

• MinDailyLendRate Float. The minimum daily lend rate that you're willing to lend at.

• LendPeriod Integer. The period for lend offers.

• ReductionIntervalMinutes Float. How often should the unlent offers` rate be decremented. Note that this parameter should be more than or equal to the interval at which bot is scheduled to run (usually 10 minutes).

• ExponentialDecayMult Float. Exponential decay constant which sets the decay rate. Set to 1 for a linear decay. Decay formula: NewDailyRate = (CurrentDailyRate - MinDailyLendRate) * ExponentialDecayMult + MinDailyLendRate.

Comparing Strategies

See a weekly updated spreadsheet showing actual returns between different strategies and Flash Return Rate (Autorenew) Bitfinex option. For the bitcoin wallet balances start at 1 BTC for the each strategy and are always lent out in full (i.e. profits are accumulated). Strategy-default parameters are used.

Licensing

Free for non-commercial (personal only) use. If you intend to use BitfinexLendingBot for a commercial purpose, please contact BitfinexLendingBot [at] motoko [dot] sutas [dot] eu to arrange a License.

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