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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
gdaxusd 10,312.61 10,317.67 10,317.94
bitfinexusd 10,690.00 10,052.00 10,331.00 10,334.00 10,331.06 10,332.50
bitstampusd 10,686.89 10,052.25 10,352.08 10,363.30 10,348.26 10,378.20
krakenusd 10,685.10 10,071.00 10,327.90 10,341.70 10,334.60 10,385.08
krakeneur 9,536.50 8,980.60 9,215.00 9,228.90 9,219.50 9,247.68
coinsbankgbp 8,650.62 8,081.08 7,967.53 8,414.74 8,183.09 8,347.44
coincheckjpy 1,152,623.00 1,088,000.00 1,116,361.00 1,117,608.00 1,116,795.00 1,126,977.19
geminiusd 10,312.92 10,321.82 10,323.32
bitbaypln 40,554.96 38,302.87 39,270.00 39,298.00 39,274.00 39,734.86
oitbitusd 10,690.75 10,062.00 10,317.75 10,326.50 10,333.75
gdaxeur 9,229.00 9,229.01 9,229.00
coinsbitiousd 10,800.00 10,002.00 10,100.00 10,500.00 10,359.29 10,454.43
bitstampeur 9,532.66 8,989.19 9,212.66 9,236.98 9,214.46 9,233.49
coinsbankusd 10,879.45 10,112.30 10,219.44 10,457.06 10,335.79 10,472.80
lakeusd 11,003.93 10,426.16 10,664.02 10,676.53 10,671.27 10,785.16
zaifjpy 1,153,000.00 1,085,420.00 1,116,035.00 1,116,970.00 1,116,000.00 1,127,131.39
btcboxjpy 1,151,070.00 1,089,232.00 1,115,455.00 1,117,224.00 1,115,448.00 1,132,101.28
coinsbankeur 9,517.01 9,033.38 9,118.85 9,338.98 9,331.86 9,347.29
bitxzar 159,450.00 150,876.00 153,183.00 153,184.00 153,183.00 156,235.91
okcoinusd 10,679.77 10,066.04 10,328.10 10,328.11 10,331.20

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
krakenxmr 123.41108232 123.54830739 123.31976816
bitfinexdash 90.62075215 90.71940488 90.65361255
poloniexxem 153,139.3568147 153,609.83102919 152,671.75572519
poloniexeth 47.48342591 47.50178607 47.47213267
bitfinexeth 47.48338082 47.48338082 47.47661777
bittrexxrp 32,195.75016098 32,185.38783392 32,133.67609254
bittrexxmr 123.37225728 123.67834231 123.10798417
krakendash 90.4159132 90.82652134 90.49773756
krakenxrp 32,154.34083601 32,164.68317787 32,113.03789338
bitfinexltc 108.57763301 108.58942339 108.46575194
bitfinexxmr 123.21492379 123.64301788 123.29544053
poloniexxrp 32,195.75016098 32,175.03217503 32,154.34083601
poloniexltc 108.4910522 108.4796362 108.40108401
bitfinexxrp 32,185.38783392 32,185.38783392 32,154.34083601
bitstampxrp 32,226.8772156 32,195.75016098 32,082.13025345
bittrexxem 153,374.23312883 153,374.23312883 152,905.19877676
krakeneth 47.52851711 47.50593824 47.4608448
geminieth 47.52851711 47.52851711 47.43833017
bittrexeth 47.49695782 47.49693526 47.44582517
gdaxltc 108.48340204 108.56584519 108.48340204
bittrexltc 108.35151833 108.51212514 108.40026146
poloniexdash 90.50412608 90.82602638 90.51346478
gdaxeth 47.48338082 47.48338082 47.4608448
krakenltc 108.73110797 108.64841373 108.43634786
poloniexxmr 123.45694254 123.5025318 123.38078147
bittrexdash 90.40414268 90.63274344 90.43422899

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