Same Idea, Different Tack — Huobi MM Futures Cash n Carry

Ryan, Bulek, SimTee, m4ybee, Mark, and TO whom it may concern,

SimTee, Bulek and I ran concurrent instances of the FTXbot recentlyl. While we saw some losses in the last run of FTXbot, that’s due to bad timing, bad luck, and also restructuring the bot to align with higher volumes, less % opps, in order to meet and exceed FTX’s minimum requirements for Market Maker tier 1/2 ($5m, $14m Average Daily Volume).

The FTXbot ran overnight with a vvv. tiny balance of mine, hitting nearly double in less than 12 hours — now sitting around 60%, flirting with 75% — 18 000 % APY.

https://i.imgur.com/IPkhxpY.png

Now, I went and did some market data research on Huobi’s pro platform, and found they had a whole bunch of futures/swaps to take advantage of — and the returns are nearly sevenfold, at spot-check, what FTX’s are:

Huobi state of opps:

https://i.imgur.com/QklAiUT.png

Nice, on spotcheck it was way more than 7x, FTX’s current state:

https://i.imgur.com/tQiIIRX.png

The trick with Huobi, and futures on okex/binance/etc, is tha they’re coin-margined — you need to have a balance within the individual coin to trade that coin’s swap and futures.

According to my Huobi rep, I can margin loan instantly from a coin into another coin. The strat relies on rebalancing based on % opps of total % opps. This is…