Cryptocurrency screener: what is it and how to use it?

Definition

Cryptocurrency screener – is an auxiliary software for arbitrage that allows you to track the price of cryptocurrencies on different exchanges. Typically, the spread appears between different exchanges, but it can also occur within a single exchange, albeit much less frequently.  

The price difference for the same cryptocurrency arises due to market imbalances: for example, there may be more sellers of a coin on one exchange than on another, so the price of the cryptocurrency on the first exchange may drop relative to the second, which is what the screener finds. 

Mainly, the found inter-exchange "links" (price differences) live from a few minutes to a few hours. Intra-exchange links live even less, as special bots are responsible for price alignment within a single exchange. Additionally, you should be cautious with links that have a large spread and have been around for a long time: this is a clear indication that the asset lacks liquidity, meaning you can buy it, but selling it will be difficult. The screener also monitors liquidity volume, so you can clarify this point immediately. 

Principle of Operation of Screeners 

Often, screeners are confused with scanners, although there are significant differences between them:

• A cryptocurrency scanner today can find you two exchanges where it is better to buy and sell cryptocurrency;

• A cryptocurrency screener will track all possible links on the selected exchanges, with any coin whose rate differs on two platforms.

For a clearer definition, let's refer to the cryptocurrency arbitrage service Arbitragescanner. Here is what a cryptocurrency screener looks like, which allows you to find profitable cryptocurrency links: 

Here you can set the parameters you need for the screener to find suitable options: 

• Monitored exchanges;

• Whitelist of currencies – the coins/tokens you want to track;

• Blacklist of currencies – coins/tokens whose spread (price difference) will not be tracked;

• Minimum transaction amount – trading volume for the asset;

• Specify the minimum and maximum profit.

If the criteria for finding links are not sufficient for you, the advanced settings of the screener allow you to work out the request in more detail. Thus, the cryptocurrency screener today will monitor many exchanges and blockchains for price differences. 

As soon as links are found, Arbitragescanner immediately sends a notification to Telegram or they appear in the web version of the service. Also, it is worth noting that the screener can inform users about new links up to 2 times per second, so no opportunity will pass you by. 

What Are the Advantages of Using Crypto Screeners?

The first obvious advantage is the lowered entry barrier for people who previously had no experience with cryptocurrencies, trading, arbitrage, and everything else. The cryptocurrency screener will do all the work for you, leaving you to deposit money on the exchanges and open the necessary trades. Considering the amount of information the screener analyzes, it becomes clear that this would be simply impossible for a human. 

Also, if you are an experienced investor and trader, keeping all the market information in your head is not feasible. The user only needs to set the necessary information in the screener once, after which the software will independently find profitable links. 

The complexity of cryptographic screeners truly allows for the creation of a maximally high-quality toolkit for such conditions, which will be sufficient for users taking steps towards cryptocurrency arbitrage.

The Best Cryptocurrency Screener

Arbitragescanner – the usefulness of the service's screener was discussed above; now let's move on to a more precise definition of the tool: 

• Arbitrage scanner and screener – software for cryptocurrency arbitrage. Supports many CEX and DEX exchanges. Works without API requests, sends notifications about trades every 2 seconds, and allows you to track price differences between any exchanges and tokens. At different times, up to 10,000 spreads are tracked simultaneously. You can also view the history of arbitrage spreads;

• Futures screener. You have the opportunity to arbitrate between spot + futures, futures + futures. How does it work? You buy on a spot exchange, short on another exchange, catch the arbitrage difference of 2-3%, compare prices, and simultaneously earn a percentage from refinancing. Service clients earn from 5-50% per month on their deposit. This is a great tool for making good profits.

Additionally, in Arbitragescanner, you will find many tools for on-chain analysis, educational materials, and message services. The number of provided tools is unmatched by any other service, which is why Arbitragescanner occupies the top position as the undisputed leader in the segment. 

Conclusion

Cryptocurrency screeners play an important role in the cryptocurrency market, offering traders and investors convenient tools for finding profitable trading opportunities. These services automate the arbitrage process and help users find price differences between exchanges, significantly simplifying and speeding up decision-making. Whether you are a novice in the world of cryptocurrencies or an experienced trader, screeners can significantly enhance your efficiency and profitability.

Each screener has its unique features suitable for different types of users. For example, Arbitragescanner is ideal for arbitrageurs, offering real-time analytics and notifications. Additionally, the service provides many other tools, allowing you to focus on a single platform rather than using multiple ones. 

Ultimately, the right choice of screener depends on your goals, level of experience, and trading preferences.