Over the last week, I’ve managed to wrangle pretty good deals from Deribit and Binance.
First, I acquired 60% of the fee share on Deribit for our front-running account, where Coindex and I will be running a $15,000 trial in the coming weeks; using our proprietary AI and proprietary order risk management through hedging.
Very exciting times!
Deribit also offered their partner program to Coindex (and to me specifically), where we could earn an extra 20% of their fee structure of 0.075% from people we bring in and run our bots on their behalf, after they login to our oAUTH login flow. Then we add some partner request headers and magic so that people everywhere can use my Market Maker.
My efforts at Deribit could not have been as successful without their dead-on support rep @MrJozza!
Next up, Binance.
They welcomed me into their brokers’ program. There’s a few models and fee rebate/discount tiers, but once we’re in the master/sub-account model I will gain more granularity in assigning discount rates for my sub-account models.
This allows a ton of additional opportunities, like creating an SaaS-model platform to take advantage of (nearly) 50% off on trading fees for stablecoin-stablecoin pairs.
This will eliminate risk as their value always ranges around $1 and the difference in bid/ask alone (with the applicable discount) means that we can soak up some of the tens of millions of dollars in liquidity via immediately profitable trades.
That’s in the books — same, too, with a funding fee arbitrage bot that buys long and sells short when there’s a premium, across dozens of futures exchanges. Then, it waits for those prices to converge before cashing in considerably.
This actually happened to us with our funding rate arbitrage model on Deribit, some of my users seeing 240% profits all the way up to 10x, 40x.