[PHP| BTC-E arbitrage bot

[01BTC10]

I paid for this bot but I'm giving it to the community for free.
You need to have some amount of currency in all 3 currencies (USD/LTC/BTC) to use it. Then as you run it, your USD/LTC balance will decrement and your BTC balance will increment.

Code:

<?php

// Trade API settings
$key = ''; // your API-key
$secret = ''; // your Secret-key

// Limits for trading size (BTC)
// Setting the increment too small will have a negative effect on speed
$min_amount = 0.1;
$max_amount = 0.6;
$increment = 0.02;

// Minimum profit in percent
// Must be higher than BTC-E fee * 3 to be profitable
$min_profit = 1.0;

// Margin of price
// Trades will be executed this much higher/lower to make "sure" they go through
// 1.05 = 5 % and so on
$price_margin = 1.05;

// Delay between requests (ms), check with BTC-E how high value they allow
// setting this too high could cause BTC-E to potentially block the bot.
$delay = 100;

// Specify a minimum time between 2 trades (s). Whenever an inbalance between prices exists
// we want to quickly execute the FIRST trade, but let other arbitrage bots (with bigger balances)
// clean up the rest. Otherwise there seems to be big risk for losing trades.
$time_between_trades = 10;
$last_trade_time = 0;

// Required for BTC-E API
$mt = explode(' ', microtime());
$nonce = $mt[1];

// http://pastebin.com/QyjS3U9M
function btce_query($method, array $req = array())
{
	global $key, $secret, $nonce;

	$req['method'] = $method;
	$req['nonce'] = $nonce++;

	// generate the POST data string
	$post_data = http_build_query($req, '', '&');

	$sign = hash_hmac("sha512", $post_data, $secret);

	// generate the extra headers
	$headers = array(
		'Sign: '.$sign,
		'Key: '.$key,
	);

	// our curl handle (initialize if required)
	static $ch = null;
	if (is_null($ch)) {
		$ch = curl_init();
		curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);
		curl_setopt($ch, CURLOPT_USERAGENT, 'Mozilla/4.0 (compatible; BTC-E PHP client; '.php_uname('s').'; PHP/'.phpversion().')');
	}
	curl_setopt($ch, CURLOPT_URL, 'https://btc-e.com/tapi/');
	curl_setopt($ch, CURLOPT_POSTFIELDS, $post_data);
	curl_setopt($ch, CURLOPT_HTTPHEADER, $headers);
	curl_setopt($ch, CURLOPT_SSL_VERIFYPEER, FALSE);

	// run the query
	$res = curl_exec($ch);
	if ($res === false)
		exit('Trade API error: Connection error: ' . curl_error($ch));

	$dec = json_decode($res, true);
	if (!$dec)
		exit('Trade API error: Invalid JSON.');

	return $dec;
}

function perform_trade($trade, $show_balance)
{
	global $last_trade_time;

	$last_trade_time = time();

	$reply = btce_query('Trade', $trade);

	if ($reply['success'] != 1)
		exit('Trade error: ' . $reply['error']);

	if ($show_balance)
		print_balance($reply);
}

function print_balance($response = false)
{
	if (!$response)
		$response = btce_query('getInfo');

	$str = "";

	foreach ($response['return']['funds'] as $key => $val)
	{
		if ($val > 0)
		{
			if (strlen($str) > 0)
				$str .= ",";

			$str .= " " . $val . " " . strtoupper($key);
		}
	}

	echo date("H:i:s") . ' Balance:' . $str . "\n";
}

// Fetch order book for a given currency pair
function order_book($pair)
{
	$orders = file_get_contents('https://btc-e.com/api/2/' . $pair . '/depth');

	if ($orders === false)
		exit('Public API error: Connection error.');

	$dec = json_decode($orders);
	if (!$dec)
		echo date("H:i:s") . " ERROR: Unable to fetch order book for " . $pair . ".\n";

	return $dec;
}

// Return how big volume we can get with the given amount
function ask_volume($orders, $amount)
{
	$vol = 0;
	$value = 0;

	for ($i = 0; $i < count($orders->asks) && $value < $amount; $i++)
	{
		$this_value = min($orders->asks[$i][0] * $orders->asks[$i][1], $amount - $value);
		$this_vol = $this_value / $orders->asks[$i][0];

		$value += $this_value;
		$vol += $this_vol;
	}

	return $vol;
}

function bid_volume($orders, $amount)
{
	$vol = 0;
	$value = 0;

	for ($i = 0; $i < count($orders->bids) && $value < $amount; $i++)
	{
		$this_value = min($orders->bids[$i][1], $amount - $value);
		$this_vol = $this_value * $orders->bids[$i][0];

		$value += $this_value;
		$vol += $this_vol;
	}

	return $vol;
}

function best_bid($orders)
{
	return $orders->bids[0][0];
}

function best_ask($orders)
{
	return $orders->asks[0][0];
}

// The main function of the program
function main_loop()
{
	global $min_amount, $max_amount, $increment, $min_profit, $delay, $price_margin, $time_between_trades, $last_trade_time;

	// Print some starting information
	echo "BTC-E Arbitrage Bot v0.1 (CTRL+C to exit)\n";
	echo "Trade amount (min/increment/max): " . $min_amount . " / " . $increment . " / " . $max_amount . "\n";
	echo "Minimum profit: " . $min_profit . " %\n";
	echo "Price margin: " . $price_margin . "\n";
	echo "Delay between checks: " . $delay . " ms\n";
	echo "Min time between trades: " . $time_between_trades . " s\n";

	print_balance();

	// Loop indefinitely (press CTRL+C to exit)
	while (true)
	{
		// Fetch order books for all currency pairs
		$btc_usd_orders = order_book('btc_usd');
		$ltc_btc_orders = order_book('ltc_btc');
		$ltc_usd_orders = order_book('ltc_usd');

		// Proceed if we have orders for all pairs
		if ($btc_usd_orders && $ltc_btc_orders && $ltc_usd_orders)
		{
			$best_case = 0;
			$best_profit = 0;
			$best_amount = 0;
			$best_trades = array();

			// Loop through different order sizes to find the one with most profit
			for ($amt = $min_amount; $amt <= $max_amount; $amt += $increment)
			{
				// Case 1: BTC -> LTC -> USD -> BTC
				$c1_ltc = ask_volume($ltc_btc_orders, $amt);
				$c1_usd = bid_volume($ltc_usd_orders, $c1_ltc);
				$c1_btc = ask_volume($btc_usd_orders, $c1_usd);

				$c1_profit = $c1_btc - $amt;
				$c1_profit_percent = ($c1_profit * 100) / $amt;

				if ($c1_profit > $best_profit && $c1_profit_percent > $min_profit)
				{
					$best_case = 1;
					$best_profit = $c1_profit;
					$best_amount = $amt;
					$best_trades = array
					(
						array('pair' => 'ltc_btc', 'type' => 'buy', 'amount' => round($c1_ltc, 6), 'rate' => round(best_ask($ltc_btc_orders) * $price_margin, 3)),
						array('pair' => 'ltc_usd', 'type' => 'sell', 'amount' => round($c1_ltc, 6), 'rate' => round(best_bid($ltc_usd_orders) / $price_margin, 3)),
						array('pair' => 'btc_usd', 'type' => 'buy', 'amount' => round($c1_btc, 6), 'rate' => round(best_ask($btc_usd_orders) * $price_margin, 3))
					);
				}

				// Case 2: BTC -> USD -> LTC -> BTC
				$c2_usd = bid_volume($btc_usd_orders, $amt);
				$c2_ltc = ask_volume($ltc_usd_orders, $c2_usd);
				$c2_btc = bid_volume($ltc_btc_orders, $c2_ltc);

				$c2_profit = $c2_btc - $amt;
				$c2_profit_percent = ($c2_profit * 100) / $amt;

				if ($c2_profit > $best_profit && $c2_profit_percent > $min_profit)
				{
					$best_case = 2;
					$best_profit = $c2_profit;
					$best_amount = $amt;
					$best_trades = array
					(
						array('pair' => 'btc_usd', 'type' => 'sell', 'amount' => round($amt, 6), 'rate' => round(best_bid($btc_usd_orders) / $price_margin, 3)),
						array('pair' => 'ltc_usd', 'type' => 'buy', 'amount' => round($c2_ltc, 6), 'rate' => round(best_ask($ltc_usd_orders) * $price_margin, 3)),
						array('pair' => 'ltc_btc', 'type' => 'sell', 'amount' => round($c2_ltc, 6), 'rate' => round(best_bid($ltc_btc_orders) / $price_margin, 3))
					);
				}
			}

			// Execute the trades if we found one
			if ($best_case > 0)
			{
				echo date("H:i:s") . ($best_case == 1 ? " LTC -> USD" : " USD -> LTC") . ", Amount " . $best_amount .
					", Expected Profit " . number_format($best_profit, 4) .
					" (" . number_format(($best_profit * 100) / $best_amount, 2) . " %)\n";

				// Check that enough time has passed from the last trade
				if ((time() - $last_trade_time) < $time_between_trades)
				{
					echo date("H:i:s") . " Rejected (not enough time passed from last trade.\n";
				}
				else
				{
					perform_trade($best_trades[0], false);
					perform_trade($best_trades[1], false);
					perform_trade($best_trades[2], true);
				}
			}
		}

		// Sleep for a bit
		usleep($delay * 1000);
	}
}

// Execute the main loop function
main_loop();

Credit: MadAlpha

If you enjoy this post you can send me a donation.

BTC: 1DB5BC85mqwdQbJaed47tWFpmn96i1YyWn
LTC: LahP2YUhSiJQaupn2AYB2iUgRSFg3n57uZ

[1714786626]

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[1714786626]

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[keatonatron]

Thanks for sharing!

[01BTC10]

Some fine tuning need to be done like min/max amount. If you run it on a VPS with low latency then 100ms delay will get the bot a temp ban from BTC-E. Still a very nice code for those who want to learn.

[snowcrashed]

Thank you for sharing.  What has your experience been with this bot?  Was it successful, did you see a profit?  How long have you had this code?  Also, I assume it does not output anything until something happens?

[01BTC10]

It does log every trade on the screen and return error message.

I did not run it for a very long time. I can't tell if it's profitable.

[Factory]

It does log every trade on the screen and return error message.

I did not run it for a very long time. I can't tell if it's profitable.

Unfortunately, as with any automated system , you would need an extremely large sample size to determine the relative profitability (or lack there of.)

Running it in short bursts will likely give you very skewed results based on variance.

Unless you have an excellent idea of what you are doing and are willing to risk a large amount of currency to tune it (as well as deal with extended drawdowns), I would recommend staying away from such things.

[btc-mike]

Anyone play with this?

I am running on my shared hosting with about 0.1BTC. It seems to make a little bit.

[imrer]

Thanks for sharing this bot. 

[btc-mike]

I have made another bot that checks multiple paths (based on this ->https://bitcointalk.org/index.php?topic=196313.0) but I still use this one. This one found a profitable trade path yesterday.

[smitelrh]

Thanks for share

[mangox]

Thanks for sharing

[Jumpy]

Would anyone be interested in posting the results of running this script for some amount of time? (I'm thinking minimum 3 days).

Notes on what kind of balancing is necessary will be helpful as well.

[btc-mike]

Would anyone be interested in posting the results of running this script for some amount of time? (I'm thinking minimum 3 days).

Notes on what kind of balancing is necessary will be helpful as well.

You want me to test for 3 days and share my settings and results? NO

I will share this.

1. As is, the program will time out long before 3 days. The code that pulls the books will error out. I have run it on few hosted systems and they both timed out (one lasted a lot longer).

2. You will end up blacklisted at btc-e if you hit them too hard. Open a support ticket and they can whitelist your IP.

[01BTC10]

It's easy to fix so it will never time-out on an error but it might give unwanted results. Like I said in my second post you need to adjust the timing so BTC-E won't ban your IP. Mine got banned temporarily a couple time before I got the settings right. It will vary depending on your connection, it wasn't the same on my home connection vs a VPS. Officialy they say once every 10 minutes but if I remember right I was able to use 300ms on my VPS and 100ms on my home connection.

[btc-mike]

Agreed - not too hard to fix.

After I was white-listed, I hit them harder with no issues. You just need to ask to be white-listed.

[daybyter]

100ms? That is crazy ... I never used intervals < 15s in my bots.

It might work for you now, but if all those hundreds of bots switch to such a scheme, the website is blocked ...

[01BTC10]

100ms? That is crazy ... I never used intervals < 15s in my bots.

It might work for you now, but if all those hundreds of bots switch to such a scheme, the website is blocked ...

100ms on my home connection is over 300ms in reality.

[tarui]

so how do I implement this/?

[01BTC10]

so how do I implement this/?

You need PHP and curl installed then put your BTC-E API key at the appropriate place in the code.

[Financisto]

Greetings!

Nice script. Thanks for sharing it.

It's been a while since BTC-e, Vircurex and Cryptsy added some more altcoins.

BTW, is it possible to add automated (triangular and 2-currency) arbitrage for altcoins pairs (LTC/BTC; NMC/BTC; PPC/BTC; XPM/BTC etc.)?

Keep up the good work!