[BitFinex] [Feature Request] FFR

[JCBauza]

Would really love to have the ability to lend at FFR. I guess I have a few ideas (stages):

1. If there is a market BID for FFR I want to take it. That's the simplest case.
2. Maybe keep part of the offers at FFR or if FFR is near (somehow determine that), then do offers at FFR not at a fix rate.

I love doing FFR but obviously sometimes FFR might not happen for days/weeks so doing regular orders makes more sense (reasoning why this bot would be awesome). Somehow being able to still enjoy FFR while using this bot would be idea. The first part of taking any FFR bid should be easy... the second part of when to do an FFR order might involve some thinking and decision making I haven't thought about. Maybe if it is within the order book depth you are making bids then do FFR. Thank you!

[utdrmac]

IMO, this defeats the purpose of having the bot. The bot is supposed to take more information in to account than the simple thing FRR does. Plus, FRR, I believe, is only calculated once per day whereas the bot calculates best rates constantly.

If I have my bitfinex account opened in browser, I can see the bot's activity in the bottom right corner as it cancels orders at lower rates and then places new ones at better rates.

Additionally, canceling/readding attempts to put you at the head of the line. I don't believe FFR does this.

[JCBauza]

Well, the bot is awesome for lending when FFR is not an option or when the market spikes up.

FFR gives us the opportunity to lend at 30 days while not missing opportunities if the market return rate goes up. Sometimes there will be a bid at FFR higher than the market because the market is at 2 days while FFR bid is asking for 30 days, so you are able to secure a higher rate then. FFR obviously doesn't.

I am not sure about point number two as it tricky as this conversation reveals, but point number one seems simpler and nice functionality :

• IF there is an FFR bid AND the market is below the bid, then do an offer to match the bid.

That generally involves lending at 30 days vs 2 days, but it generally works out well. I doubt everyone would want this but personally that's what I've been doing manually and my FFRs perform better generally (there are spikes, at which point I ignored the FFR and lended above FFR).

That also opens the door for more interesting logic. If current rate is x% above FFR, maybe lending for more than 2 days makes sense.

Hope that makes sense and let me know your feedback, thank you!

By the way, FFR is calculated once per hour as per this post: https://support.bitfinex.com/hc/en-us/articles/213919009-What-is-the-Flash-Return-Rate-

[laxdog]

@JCBauza see https://github.com/BitBotFactory/poloniexlendingbot/pull/554

[Evanito]

Was added in above PR