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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 23,309.36 22,770.71 23,081.18 23,086.55 23,076.43
coinbaseusd 23,313.23 22,809.52 23,077.96
krakenusd 23,174.80 23,000.70 23,068.90 23,069.00 23,068.90 23,057.10
bitfinexusd 23,297.00 22,780.00 23,079.00 23,080.00 23,079.00 23,079.50
bitstampusd 23,318.00 22,771.00 23,076.00 23,077.00 23,071.00 23,060.00
krakeneur 21,332.50 21,180.60 21,220.70 21,226.60 21,226.60 21,211.34
btcboxjpy 3,058,614.00 2,973,300.00 3,016,162.00 3,021,569.00 3,019,956.00 3,006,090.83
bitstampeur 21,443.00 20,997.00 21,212.00 21,215.00 21,215.00 21,205.00

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 60,204.69596629 60,277.27546715 60,204.69596629
bittrexeth 14.63600619 14.64066894 14.63279798
hitbtcslp 7,407,407.40740741 7,575,757.57575758 7,462,686.56716418
bittrexltc 238.02836346 238.17576419 237.78950873
poloniexxmr 131.76966662 131.73494928 130.82155939
bitfinexada 60,204.69596629 60,277.27546715 60,204.69596629
bitstampbch 173.19616197 174.14685456 173.60659011
krakeneth 14.63057791 14.63271876 14.63057791
bitfinexeth 14.6355028 14.64085971 14.64021668
bitfinexltc 238.0895693 238.1065765 237.90265024
krakendot 3,714.572267 3,726.1989045 3,723.5627048
bittrexusdt 23,080.75 23,060.80000114 23,097.2334011
bittrexbch 173.55868193 174.40501728 173.83897296
bitfinexxmr 131.72453765 132.03934773 131.86523373
krakenxlm 257,069.40874036 257,731.95876289 257,069.40874036
bitfinexdot 3,721.06869093 3,729.39509212 3,720.65334673
bittrexdoge 251,256.28140704 251,256.28140704 250,000
krakenlink 3,358.18389415 3,365.07722852 3,362.58784761
krakenltc 238.37902265 237.81212842 237.64258555
krakenxrp 57,636.88760807 57,636.88760807 57,537.39930955
krakenbch 173.3102253 174.21602787 173.61111111
poloniexdash 375.09377344 381.97097021 380.37276531
bitstamplink 3,343.47520813 3,367.34350271 3,354.91663032
bitfinexxrp 57,636.88760807 57,636.88760807 57,570.52389177
bittrexxvg 7,692,307.69230769 7,692,307.69230769 7,142,857.14285714
poloniexeth 14.63486024 14.63914507 14.63057791
poloniexltc 238.26542769 238.2086708 237.75558726
bitstampxrp 57,603.68663594 57,603.68663594 57,537.39930955
bittrexada 60,240.96385542 60,313.63088058 60,204.69596629
bitfinexdash 380.44512079 381.19925285 380.58991437
bittrexdot 3,714.84824845 3,717.47211896 3,715.53838151
bittrexxem 625,000 632,911.39240506 625,000
poloniexxem 622,277.53578096 626,566.4160401 626,174.07639324
krakendoge 250,000 251,256.28140704 250,000
krakendash 377.50094375 381.53376574 380.66235249
bittrexxlm 255,102.04081633 255,754.47570332 254,452.92620865
bittrexxrp 57,504.31282346 57,636.88760807 57,471.26436782
bitfinexxlm 256,410.25641026 257,731.95876289 257,069.40874036
krakenxmr 131.68290756 131.73494928 131.71759747
bittrexlink 3,350.5327347 3,357.28194454 3,354.91663032
poloniexxrp 57,570.52389177 57,570.52389177 57,537.39930955
hitbtcaxs 2,151.48613905 2,155.42326047 2,149.03562027
geminibch 0.00558 0.00562 0.00582
geminilink 0.00029726 0.00029954 0.00030006
bittrexusdc 23,100.02310002 23,116.04253352 22,962.11251435
geminieth 0.06837 0.06834 0.06835

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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