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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 30,131.69 28,634.64 29,339.09 29,345.86 29,360.33
coinbaseusd 29,850.23 28,611.00 29,327.39
bitfinexusd 30,145.65 28,652.02 29,364.00 29,365.00 29,366.20 29,364.50
krakenusd 29,631.90 28,635.30 29,350.40 29,350.50 29,335.20 29,248.61
bitstampusd 30,131.58 28,632.40 29,370.07 29,374.77 29,374.77 29,254.73
krakeneur 27,567.50 26,725.10 27,379.60 27,379.70 27,379.70 27,305.48
geminiusd 29,361.79 29,368.62 29,361.97
coinbaseeur 27,903.36 26,687.71 27,348.90
bitvavoeur 28,205.00 26,691.00 27,368.00 27,397.00 27,397.00
bitstampeur 28,197.67 26,700.00 27,373.37 27,392.36 27,369.26 27,314.84
bitfinexeur 28,249.43 26,663.00 27,371.00 27,376.00 27,374.00 27,373.50
coinbasegbp 23,675.52 22,890.00 23,409.31

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 57,471.26436782 57,339.44954128 57,273.76861397
bittrexeth 14.96544479 14.96740697 14.95895487
hitbtcslp 5,076,142.1319797 5,291,005.29100529 4,975,124.37810945
bittrexltc 422.70607978 422.70071944 422.03886978
poloniexxmr 154.52177057 155.52946117 154.52177057
bitfinexada 57,339.44954128 57,339.44954128 57,240.98454493
bitstampbch 152.69786589 152.85635019 152.67175573
krakeneth 14.96781919 14.97005988 14.96781919
bitfinexeth 14.96557917 14.96445941 14.9584156
bitfinexltc 422.40432542 422.49355697 422.27946455
krakendot 2,929.28701154 2,932.37933259 2,930.31706031
bittrexusdt 29,381.08146369 29,383.82816099 29,393.684
bittrexbch 153.33613427 152.89514604 152.68131288
bitfinexxmr 151.67832062 151.73585822 151.52663081
krakenxlm 228,310.50228311 228,310.50228311 227,790.43280182
bitfinexdot 2,930.5746857 2,935.56436225 2,929.20120683
bittrexdoge 354,609.92907801 355,871.886121 354,609.92907801
krakenlink 4,160.77223933 4,160.94536679 4,160.77223933
krakenltc 422.65426881 422.65426881 422.11903757
krakenxrp 72,674.41860465 72,727.27272727 72,568.94049347
krakenbch 154.08320493 152.90519878 152.67175573
bitfinexdoge 0.00000035 0.00000036 0.00000035
poloniexdash 486.91418138 486.91418138 480.87557825
bitstamplink 4,161.46483562 4,159.90681809 4,145.24954402
bitfinexxrp 72,674.41860465 72,674.41860465 72,621.64124909
bittrexxvg 5,882,352.94117647 5,882,352.94117647 5,555,555.55555556
poloniexeth 14.96593081 14.9619428 14.96162493
poloniexltc 422.94922495 422.87947089 422.05668221
bitstampxrp 72,621.64124909 72,780.20378457 72,621.64124909
bittrexada 57,372.34652897 57,339.44954128 57,273.76861397
bitfinexdash 482.92847829 483.11512633 482.29960451
bittrexdot 2,939.87946494 2,935.04740102 2,929.28701154
bittrexxem 558,659.21787709 558,659.21787709 555,555.55555556
poloniexxem 555,555.55555556 558,659.21787709 555,555.55555556
krakendoge 355,871.886121 355,871.886121 354,609.92907801
krakendash 483.09178744 484.73097431 481.92771084
bittrexxlm 228,310.50228311 228,310.50228311 227,790.43280182
bittrexxrp 72,568.94049347 72,674.41860465 72,568.94049347
bitfinexxlm 228,310.50228311 228,310.50228311 227,272.72727273
krakenxmr 151.92950471 151.86028853 151.83723049
bittrexlink 4,180.77678833 4,159.56075038 4,152.65146796
poloniexxrp 72,674.41860465 72,727.27272727 72,621.64124909
hitbtcaxs 1,422.59045186 1,426.93453082 1,418.06558837
geminibch 0.00654 0.00649 0.00655
geminilink 0.00023842 0.00023951 0.00024157
bittrexusdc 29,222.67679719 29,420.41776993 29,299.73630237
geminieth 0.06683 0.0668 0.06683

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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