![](https://i.imgur.com/D2bJkzC.png)
Supported exchanges are located at the top of the page, You can choose on whether you want to use all exchanges for scanning by clicking on "All-Ex", or choose specific exchanges by toggling on/off exchanges you want to use.
![](https://i.imgur.com/qO7Kxss.png)
My Arbitrage Bot consists of 3 Functions, Arbitrage, Orderbook and Best Price Functions. In this post I will try to explain what each function does.
![](https://i.imgur.com/TrZg6tO.png)
The main and most important function is the Arbitrage function, so I'll explain it first.
Arbitrage Function:
This is the main function of this Bot, you use this function when you want to find arbitrage opportunities between selected exchanges.
1) Click on all exchanges, or select individual exchanges that you want to scan.
2) Choose Whether you want to scan a single pair or multiple pairs:
![](https://i.imgur.com/4qR5tRU.png)
![](https://i.imgur.com/jfE4E3q.png)
4) Set the minimum profit.
![](https://i.imgur.com/gDfOOyW.png)
5) Click on Submit to start scanning for arbitrage.
![](https://i.imgur.com/KxcNnDZ.png)
After you click Submit, two bars will appear showing the scanning progress. If the Bot finds an arbitrage opportunity, you'll hear a beep sound and, it will display the arbitrage opportunity like this:
![](https://i.imgur.com/e3uyrsG.png)
As you can see, we've scanned XMR/BTC pair, we've found that there is 3 arbitrage opportunities for this pair, one is to buy on Poloniex at 0.01408000 and sell on Tuxexchange at 0.01430000, and you'll make a profit of 1.56% on your trading volume which in this case is 0.1BTC.
If you want to check if the arbitrage opportunity is still present at any time in the future, just click the refresh button, the Profit will change accordingly, or it will get replaced by N/A, if the arbitrage opportunity is no longer available.
Orderbook Function:
This is not the main function of this bot, but you can use it as a complement to the main Arbitrage Function.
Sometimes when there is no arbitrage opportunity in your selected pair, you can use the Orderbook Function to create your own arbitrage opportunity.
The inputs works the same as The Arbitrage Bot.
After you click Submit, two bards will appear showing the scanning progress. If the Bot finds an Orderbook opportunity, you'll hear a beep sound and, it will display the Orderbook opportunity like this:
![](https://i.imgur.com/kumnebW.png)
What do I mean by an Orderbook Opportunity ?
An Orderbook Opportunity is when the difference of the Bids between two exchanges is higher than your specified minimum profit. This is different from the The Arbitrage Function which results are based on a comparison of price between Bids of one exchange and Asks of the other exchange.
Unlike an Arbitrage Opportunity where there is already a seller at (Ex Buy) and a buyer at (Ex Sell), to make use of an Orderbook Opportunity you have to make a buy order at (Ex Buy) first, if you don't wait long and it got executed, now you are halfway to make a profit since there is already a buyer that is willing to buy at a higher price at (Ex Sell).
Let's take the example of the above picture. The Bot sees that at Bter the highest Bid price is 0.00124900 and at Poloniex the highest Bid price is 0.00131270, so to take advantage of this Orderbook Opportunity you have to make a Bid order at Bter that is higher than the current highest Bid price (0.00124900), which means you have to create a buy order at 0.00124900+1Satoshi=0.00124901. If this order get executed, you're half way to make a 5.1% profit, all you have to do is send these coins from Bter to Poloniex and sell them to the buyer who's willing to buy these coins at a higher price 0.00131270.
Best Price Function:
If you want to buy or sell a certain cryptocurrency, this function helps you do that at the best price in the market.
You need a bot to do that for you because the price of a cryptocurrency depends on the volume you want to buy/sell.
1) Click on all exchanges, or select individual exchanges that you want to scan.
2) Choose Whether you want to buy or sell:
![](https://i.imgur.com/Fq3NZvM.png)
So if you want to buy ETH and you choose to set the volume in Alt, and you set the volume to 100, then the bot will look for where to buy 100ETH.
If you set the volume in BTC, and you set the volume to 1, then the bot will look for which exchange will get you the most ETH out of your 1BTC.
4) Choose which cryptocurrency you want to buy/sell.
After you click Submit, two bars will appear showing the scanning progress. The bot will scan all exchanges where your specified cryptocurrency is traded at. The results will be similar to this: (In this example I wanted to buy 2000ETH
![](https://i.imgur.com/CEhcI93.png)
The result are divided between left and right. The left side displays the exchange with the best price to buy 2000ETH, and on the right it displays other exchanges where you can buy 2000ETH but at a higher price.
Avg Price is the average price you are gonna pay to get 2000ETH. Total is the amount of Bitcoin you need to buy 2000ETH at Kraken.
You can click on + to display other exchanges where you can buy at, but at a higher price. Per shows you how much premium price you are paying for at that exchange.
Let's say we have two persons, one has 100ETH and another has 2000ETH and they both want to sell them, the average price each person gonna get is different because the price changes depending on the quantity you want to buy/sell. In the above example, we're certain that the person with 2000ETH is gonna get either the same price as the one with 100ETH or a lower price, it all depends on the market orderbook.
My bot simulate this trades on real market exchanges and see depending on the volume you want to sell/buy, at which market the average price is better. Depending on how much you want to buy/sell, this difference can be significant.
These are the results for selling 100ETH.
![](https://i.imgur.com/KuET9M1.png)
These are the results for selling 2000ETH.
![](https://i.imgur.com/CXpPEJT.png)