KoinKnight in September 2021
We have released some exciting new features and enhancements in September month.
Support for multiple networks in coin transfers — As the exchanges list grew in number in supporting coin transfers in multiple networks such as TRC20, ERC20, BNC, BNB, NEP5, etc we felt the need to implement this in arbitrage. Transfer fees vary across the networks and we need to show arbitrage with fewer fees in transferring coins from one exchange to another. For example, USDT transfer fees in Binance as of 5th Oct 2021 are as follows —
- BNB network — 0.8 USDT
- ETH network — 25 USDT
- TRX network — 1 USDT
Even the block confirmation across networks varies. Block confirmations in Binance as of 5th Oct 2021 are as follows —
- BNB network — 15 (approx 1 minute in transfer time)
- ETH network — 12 (approx 3 minutes in transfer time)
- TRX network — 1 (within few seconds)
Wallet deposit and withdrawal status also vary across networks in an exchange.
Since arbitrage involves buying coins from one exchange to selling at another which involves transferring the coin from one to another, transfer fees along with the number of block confirmations, wallet deposit, and withdrawal status are extremely important parameters.
So from now on, you will see network information in arbitrage. In the below photo, we have started including information such as Crypto transfer network in the transfer fees section and Network in the block confirmation section.
Alerts based on profit
Earlier, you could set alerts based on profit percentage due to which even when profit was extremely less, due to the percentage setting alerts used to get triggered. So now we have started supporting alerts based on profit too for users who want to do arbitrage based on maximum profit rather than a maximum percentage.
In the below photo, you can see the Trigger by option. It supports percentage and profit settings.
Wazirx and Binance Internal Arbitrage
After the acquisition of Wazirx by Binance, users can send a lot of coins from Binance to Wazirx and vice versa with zero transfer fees and instant deposit and withdrawal. We have started supporting all the coins which can be internally transferred between Wazirx and Binance.
