Detailed guide: How to get started with Arbitrage Scanner?

A guide on how to get starting with Arbitrage Scanner service

Scanner is a product that allows you to find arbitrage opportunities for tokens that you already hold on the exchanges.

The strategy is as follows — you hold tokens on the exchange for the long term. However, in order to get additional profit from holding, you periodically conduct arbitrage trades on some coin. Let's imagine that we hold XMR coin on OKX exchange. The principal scheme of our transaction will look like this:

We see that the OKX exchange, where we hold our tokens, has a higher price than the Gate exchange. Therefore, we can sell all or part of our tokens on OKX and buy the same amount of tokens on Gate, where the price is lower. Thus, we stayed with the same amount of XMR and did not spoil our long-term holding strategy. At the same time, we managed to earn additional dollars on arbitrage.

To use this strategy, you need to create a scanner. It is available for all users with Test subscription or higher.

Scanners are located in the Arbitrage Products menu. There you'll find the list of already created scanners and the Add button.

On the scanner setup screen, we need to fill in a few fields necessary for the scanner to work. First of all, let's fill in the currency fields. Currency 1 is the coin we are holding in the long term, Currency 2 is USDT, i.e. the currency in the pair to which our target coin is traded.

Next, let's select the exchanges where we will make transactions. In the Exchanges for buying field, it makes sense to specify those exchanges on whose balance we keep our coin.

The Minimum Profit filter is necessary to ensure that only spreads higher than the specified one are sent to the Telegram channel.

The spreads will be sent to your channel every time the system updates and catches the arbitrage opportunity. If you'd like to recieve notifications only when the spread changes, consider using Step notifications option. If you select this checkbox and specify the step, you will get the messages only if the spread changes by some percent.

Next, we need to setup the Telegram channel in which the notifications will be sent

First of all we need to add @the_universal_adder as an admin with all the permissions to the channel

Then do the same with @arbitrage_scanner_screener_bot (it also requires ALL the permissions)

After adding both bots you will be sent a message which contains the ID of the Telegram channel. Copy it with the minus sign and paste to the apropriate field on the website

Now you can select a notification template or create your own using availaible variables

What's left for us is just saving the scanner and waiting for the notifications to come

Now you're ready to arbitrage tokens that you hold. Good luck!