HitBTC trading bot
HitBTC was founded in 2013 and is considered to be one of the oldest and man trading venues for digital assets. HitBTC supports around 800 tokens and 500 spot instruments supported, including Bitcoin, Ethereum, EOS, Litecoin, Tron and others.HitBTC announced margin trading capability to its users from July 2020. Now on HitBTC users have the opportunity to leverage the funds they already have. By operating with a certain amount of money borrowed from the exchange, users will be able to accelerate their trading positions and multiply their potential gains. But first, to open a trade, they have to put forward collateral equivalent to a particular percentage of the full value of the position. This collateral constitutes the margin.
HitBTC has also released a new feature, the sub-accounts. These accounts are a solution designed for institutional and corporate clients. It enables them to create distinct subsidiary accounts with which they can explore various trading styles and strategies with operational autonomy while still contributing to the volume activity of all their accounts.
Regarding fees, HitBTC has created 10 Tries which based on the 30 days trading volume fees are determined. It is interesting to notice with USD 50,000 and higher trading volume as a maker fees are negative. This is a great opportunity for Market Makers.
HitBTC has provided three different protocols for traders who would like to automate the process of trading from third-party applications. There are the standard REST API, Websocket API and FIX API upon request.
Through the REST integration, traders are able to perform most of the operations for trading, that being execution, status and market data. Though there are some limits applied when it comes to the REST API with HitBTC, limitations are as below (please note that through Empirica’s partnership with HitBTC we may be able to facilitate fewer limits for our clients intended to use HitBTC):
- For the Market data, the limit is 100 requests per second for one IP;
- For Trading, the limit is 300 requests per second for one user;
- For other requests, including Trading history, the limit is 10 requests per second for one user.
Through the Websockets API, traders are also able to perform all trading operations. Though there are major differences when it comes to Websocket and REST integration with HitBTC, below are few of them:
- Quickness. With WebSockets, the time to place a new order is a bit higher than network latency.
- The Server notifies of any order updates using Websockets
- FIFO. Requests are executed on a First In First Out basis using Websockets
For both WebSocket and REST API, user authentication is required, that means a unique user must be registered and verified before being able to perform trading through APIs.
Hit BTC also has FIX API, and it’s only available to institutional investors, brokers and corporations, private traders, Hedge Funds and asset managers, research companies and rating agencies. With the FIX integration, institutions are taking advantage of minimal latency, secure connection and full-time access around the clock.
At Empirica, we have integrated our trading bots with HitBTC API, so that our customers can use it out of the box. Let’s name some trading bots that can be applied through API integration on HitBTC:
- Market Making bot: the service of quoting continuous passive trades prices to provide liquidity, and also be able to make some profits throughout this process.
- Arbitrage bot: takes advantage of small differences between markets. It is a trading activity that makes profits by exploiting the price differences of identical or similar financial instruments on different markets.
- Price mirroring bot: this bot uses liquidity and hedging possibilities from other markets to make the markets in a profitable way.
- Triangular Arbitrage bot: using this bot a trader could use the opportunity of exploiting the arbitrage opportunity from three different FX currencies or Cryptocurrencies.
- Basket Orders bot: with this bot, it is possible to execute trades on multiple coins at the same time with the possibility to hedge against other coins.
- VWAP bot: using this bot a trader can achieve the best price with large order by splitting it into multiple smaller ones throughout the trading day.
- Smart Order Routing bot: with this bot, the trader can find the best price for your order on all crypto exchanges and execute it.
In case you would need help from professional software developers to help you build proprietary trading bots and integrate it with the API of HitBTC or other crypto exchanges, you can consult with our quant team.
Have you implemented other trading bots?
We have implemented following bots and algorithms: