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Price equations for Bitcoin advertisements

For most Bitcoin traders, adjusting the price of advertisements by setting a margin works well enough. But if you are a high volume trader the price equation feature allows you more control over your price. This guide explains the fundamentals on how you can use complex price equations to your advantage to beat the competition.

What is a price equation?

Price equations allow you to automatically update your price with the price fluctuations of Bitcoin. They work by taking price information that we automatically fetch from market data sources (Other Bitcoin exchanges) and updating the price of your advertisement as soon as new price information is fetched. To create a custom price equation you select your market data sources and combine or modify them using operators.

The default price equation we use for advertisements uses a special market data source called btc_in_usd and a simple multiplication operator to place a margin on top of the market data price.

The market data source btc_in_usd returns the median price from several different trusted exchanges. This means that even if one or many of the exchanges start giving erroneous information the price source will still give an accurate median price.

Advertisement prices are on average updated once every five minutes. When there is extra load on the service or if an API is slow to respond this process may take longer to run. The final price calculated from the price equation is for 1 BTC. Market data sources also always return the price for 1 BTC.

If the equation returns more than one value or no value, the equation is not valid and won't work. Market data sources may not always return a price if there is, for example, low to no recent volume in that market. If an equation is not valid or does not fully resolve the advertisement will be turned off automatically.

Make your own equation

Step 1: Choose your pricing sources

The first and most important part of your equation is the selection of market price source(s). You should carefully choose which exchange you base your price on, you can find a list of all available market sources at the end of this guide. A simple equation only uses one market data source, the below market source takes the 24 hour average price from the Bitcoin exchange Bitstamp:

bitstampusd_avg

This is already on it's own a working equation, but to make some profit selling Bitcoin you will want to modify this with an operator.

Step 2: Use operators to modify your equation

Operators are different mathematical functions that you can use to adjust and change your price equation to fit your own needs. You can see the operators that are supported in the table below.


Operator Example equation Example value Description
+ 1 + 1 2 Add two values together
- 5 - 1 4 Subtract the right value from the left one
* 2 * 5 10 Multiply two values
/ 5 / 2 2.5 Divide the left value by the right one
min min(25, 100)
25 Minimum gives returns the smaller of the two values inside the parenthesis. You can chain min() inside another to get the smallest value of multiple numbers. e.g.
min(min(25, 100), min(20, 300)) = 20
max max(25, 100)
100 Maximum gives returns the larger of the two values inside the parenthesis. You can chain max() inside another to get the largest value of multiple numbers. e.g.
max(max(25, 100), max(20, 300)) = 300


The simplest equation ads just a percentage markup on top of the market price. To add, for example, a 12% margin on top of the price you need to multiply the market price source by 1.12 to increase the price by 12%. The resulting equation looks like this:

bitstampusd_avg*1.12

If you buy your Bitcoin that you sell from two different exchanges, let's say Bitstamp and Bitfinex, you probably want to make sure that your Bitcoin price is based off of the exchange that has the higher price so that your margin stays correct. Using two market data sources has the added benefit of protecting you in case one exchange experiences a sudden price crash while the other doesn't.

To do this the max() operator is useful. It is used to choose the larger of two values given to it. To use the max() operator you enter two values separated by a comma into the parenthesis. The values entered can be a market data source or any number.

In our example we want to use the higher price of two different exchanges, Bitstamp and Bitfinex. First we search for their market data source name from the table below and then we add _avg after the market data source name to get the 24h average price. We then multiply the whole max() operator with 1.12 to add our margin:

max(bitstampusd_avg, bitfinexusd_avg)*1.12

This equation will first fetch pricing data from the two exchanges, Bitfinex and Bitstamp, and turn it into two numbers. The max() operator then selects the more expensive price of the two. Finally, it multiplies that price with 1.12 to get the final advertisement price.

Step 3: Convert the price to your own currency

If you're using a price source that is not in your own currency the final step is to convert it to the correct currency. For this, you can convert the price from USD to another currency using the USD_in_[currency] data source. For example, if I trade in Euros I would need to convert the example equation in the Step 2 from USD to EUR by multiplying the whole equation by USD_in_EUR. The resulting equation looks like this:

max(bitstampusd_avg, bitfinexusd_avg)*1.12*USD_in_EUR

You can find a list of all of the USD exchange rate sources further down on this page.

Test your equation

You can play around with your own equations using the field below. Choose which currency you trade in and enter any equation to see what the price would be.

Market price sources

We have hundreds of market data sources available to use in your price equations. Here is a table that lists all available market data sources. For most sources we fetch six different prices: high, low, bid, ask, close, and avg. We recommend you use the avg (average) price, the other price types have specific meaning and fluctuate often and can result in your price not being what you expect. Each market data source always gives the price for one whole Bitcoin, this table shows the current price returned from each market data source and price type.

In order to use the market price sources you need to take the data source name from the market column and add to it the price type.
For example, if you want to use the average bitfinexusd price you take the name of the market and add an underline and the text avg.

bitfinexusd_avg

high The highest price of completed trade during the last 24h.
low The lowest price of completed trade during the last 24h.
bid The bid price is the highest price that a buyer is willing to pay.
ask The ask price is the lowest price that a seller is willing to accept.
close The price of the latest completed trade.
avg The average price of completed trades for the last 24 hours.


Market high low bid ask close avg
okcoinusd 19,178.62 18,639.15 18,824.84 18,824.87 18,824.82
coinbaseusd 19,184.30 18,619.88 18,839.47
bitfinexusd 19,188.00 18,646.00 18,841.00 18,842.00 18,841.00 18,841.50
krakenusd 19,175.00 18,645.90 18,819.30 18,821.00 18,832.90 18,944.66
bitstampusd 19,182.00 18,636.00 18,819.00 18,822.00 18,834.00 18,924.00
btcboxjpy 2,747,947.00 2,669,779.00 2,700,005.00 2,704,705.00 2,702,552.00 2,719,499.24
geminiusd 18,818.68 18,824.17 18,821.75
krakeneur 19,746.00 19,247.80 19,405.70 19,408.40 19,418.80 19,550.99
bitstampeur 19,768.00 19,260.00 19,409.00 19,413.00 19,418.00 19,545.00

Altcoin market price

If you want to trade your bitcoins for altcoins we provide market sources that return the price for one whole Bitcoin in the other cryptocurrency. Below you can find a table that lists all available altcoin market data sources. We fetch three different prices: bid, ask, and close. This table shows the latest price returned from each market data source and price type.

In order to use the market price sources you need to take the data source name from the market column and add to it the price type.
For example, if you want to use the close poloniexeth price you take the name of the market and add an underline and the text close.

poloniexeth_close

bid The bid price is the highest price that a buyer is willing to pay.
ask The ask price is the lowest price that a seller is willing to accept.
close The price of the latest completed trade.


Market close bid ask
krakenada 42,105.26315789 42,122.99915754 42,105.26315789
bittrexeth 14.49228945 14.49698506 14.49228945
hitbtcslp 5,714,285.71428571 5,714,285.71428571 5,649,717.51412429
bittrexltc 356.93761801 357.14030614 356.50369694
poloniexxmr 133.01409949 133.13806417 132.78449077
bitfinexada 42,105.26315789 42,105.26315789 42,087.54208754
bitstampbch 165.22917286 166.01367953 165.44020329
krakeneth 14.49905756 14.50326323 14.49905756
bitfinexeth 14.49275362 14.5038943 14.49296367
bitfinexltc 356.95163305 357.14285714 356.73515982
krakendot 3,030.85409468 3,031.12970204 3,030.02757325
bittrexusdt 18,835.80701771 18,818.012749 18,823.01138698
bittrexbch 165.5190678 165.69019909 165.16476837
bitfinexxmr 132.87623907 132.98402862 132.84623049
krakenxlm 160,513.64365971 160,256.41025641 160,000
bitfinexdot 3,032.23263289 3,031.8649001 3,028.65103883
bittrexdoge 307,692.30769231 307,692.30769231 305,810.39755352
krakenlink 2,371.18535556 2,374.84563503 2,373.66184813
krakenltc 356.76061363 356.88793719 356.76061363
krakenxrp 37,907.50568613 37,993.92097264 37,950.66413662
krakenbch 165.56291391 165.83747927 165.2892562
poloniexdash 460.19328118 460.61722708 451.46726862
bitstamplink 2,373.49283205 2,376.87773341 2,368.71402516
bitfinexxrp 37,921.88092529 37,979.49107482 37,936.26707132
bittrexxvg 5,555,555.55555556 5,882,352.94117647 5,555,555.55555556
poloniexeth 14.49695564 14.50116009 14.49485433
poloniexltc 356.76061363 357.01535166 356.76061363
bitstampxrp 37,907.50568613 37,993.92097264 37,936.26707132
bittrexada 42,069.83592764 42,158.51602024 42,069.83592764
bitfinexdash 455.22829699 455.76774076 455.10399126
bittrexdot 3,038.6824273 3,033.61242568 3,027.91739841
bittrexxem 473,933.6492891 476,190.47619048 469,483.56807512
poloniexxem 473,260.76668244 474,833.80816714 470,588.23529412
krakendoge 307,692.30769231 307,692.30769231 306,748.46625767
krakendash 454.75216007 455.78851413 454.54545455
bittrexxlm 160,000 160,513.64365971 160,000
bittrexxrp 38,182.51240932 38,022.81368821 37,936.26707132
bitfinexxlm 160,256.41025641 160,513.64365971 160,256.41025641
krakenxmr 132.71400133 133.01409949 132.78449077
bittrexlink 2,369.66824645 2,377.10373681 2,371.35404316
poloniexxrp 37,950.66413662 37,993.92097264 37,965.07213364
hitbtcaxs 1,512.80437624 1,517.9966088 1,510.26147157
geminibch 0.006 0.00603 0.0061
geminilink 0.00042084 0.00042031 0.0004219
bittrexusdc 18,786.39864738 18,907.16581584 18,807.5982697
geminieth 0.06898 0.06895 0.06899

USD exchange rates

You can get the exchange rate of 1 USD in other currencies using these data sources. To convert a price from USD simply multiply it with the correct USD_in data source. To convert other currencies into USD, get the inverse e.g. 1/USD_in_EUR and multiply it with your price.

Exchange rate data sources

Altcoin exchange rate data sources

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