Practical Automated Arbitrage With Bitcoin

Created By Convert?fit=clip&h=18&w=18heynk

Crowdfunding How to Run Your Own Bitcoin Arbitrage Bot

This fund ended over 4 years ago. It successfully created the course How to Run Your Own Bitcoin Arbitrage Bot.

About the Teacher

Convert?fit=clip&h=20&w=20 heynk

I'm a founder of Uludum and the lead developer behind the website. Besides maintaining Uludum, I'm also a software engineer at Up Global, where I help programs like Startup Weekend run efficiently.

I write occasionally on my personal website about anything from software to startups and bitcoin. I contribute to and maintain lots of open source software.

About this Fund

This course will teach you everything you need to know to get started running your own automated arbitrate bots.

For more information about arbitrage, view my post "Everything you need to know about bitcoin arbitrage".

I'm the creator of the rbtc_arbitrage project, which is a Ruby gem for simple bitcoin arbitrage. That project does a lot of the work for you when running your own bitcoin bot, but you still need to figure out complexities like hosting the bot, running it on a recurring schedule, viewing reports, and more. This course will teach you everything you need to know to get a fully automated, no-hassle bitcoin arbitrage bot up and running.

The most important part of creating an ultra-performant arbitrage bot is not being the same as everyone else. This course will also point you in the right direction so you can diversify your arbitrage bot and research more competitive advantage.

You don't need any programming knowledge to get your bot running. If you do, you'll be able to customize your bot, but this course will provide you with all of the materials and knowledge you need to launch your arbitrage bot.

The bot you'll be using with this course will support arbitrage between MtGox, Bitstamp, CampBX, and BTC-e.

It only costs $10.00 to pre-order enrollment into the course. After the course is created, enrollment will be $50.00. Pre-orderers will also get access to the in-progress course as it's made. The earlier you enroll, the bigger the advantage you'll have over others trying to build an arbitrage bot.


When will you be releasing course materials?

The course is currently in it's final stages, and I am planning on releasing the beta version of the course to fund backers on December 22nd, 2013.

Have you been running this bot successfully yourself?

Yes I have! I have a few different versions of the bot running that have different rules based on the market, desired frequency, and arbitrage level.

Is it possible to pay you in BTC?

Yes! Uludum recently added the ability to receive bitcoin payments. Just click 'Pay with Bitcoin' up top.

Listing 21 comments


Oct 28, 2014

I feel like i am very late on this... is this still an effective method of arbitrage? I appreciate any updates!


Feb 18, 2014

Hello, I would like to enroll, but would like to pay in BTC instead of a credit card. Is there a way to do that?


Jan 6, 2014

I too just found out about this and am looking to enroll.  Please let me know if this is possible.  Thanks.


Jan 6, 2014

I just found out about this.  Can I still enroll?


Dec 21, 2013

Hurray! Uludum is awesome!


Dec 20, 2013

Never mind I just noticed your update of the 22nd!! Apologies but I am just overly excited...


Dec 19, 2013

Any update on the Beta version for funders?


Dec 12, 2013

1. Without technical or programming knowledge will we be able to run the bot?
2. Do we need webhosting to run the bot?
3. It seems that the trading will take place only if the difference on 2 exchanges are seen ... so either there will be profit or no trade at all ... but there will never be a loss ... is that so?
4. What is the bare minimum we should have in each exchange? Will it work on 0.1 BTC in 3 exchanges?

Convert?fit=clip&h=18&w=18heynk Creator

Dec 11, 2013

Do you need to submit verification for this bot to work at those exchanges?

Yes, in order to get API keys for live trading, you will need to get a verified account.


Dec 11, 2013

Do you need to submit verification for this bot to work at those exchanges?


Dec 7, 2013

Hey man,

I have mailed you a few days back but you have not reacted yet! Another thing is: I wanted to fund, but I don't have a creditcard. Is it possible to pay you in BTC?


Convert?fit=clip&h=18&w=18heynk Creator

Dec 5, 2013

from @wadek: "when do you expect to start releasing materials?"

I'm working on the course right now, and I plan to release the beta version to fund-backers next Sunday (12/15/2013).

from mdbran: "are you currently running this program successfully at a profit?"

Yes! I'm not gonna go into details right now, but I am certainly successfully running the bot myself.


Dec 4, 2013

Hey Heynk. This course looks AMAZING!! If it doesn't get fully funded is it still happening? Also, when do you expect to start releasing materials? 


Dec 3, 2013

Tried to support, received application error after attempting payment.

Will check back.


Nov 30, 2013

are you currently running this program successfully at a profit?

Convert?fit=clip&h=18&w=18heynk Creator

Nov 27, 2013


What a bummer that the post got deleted from reddit! Perhaps you could talk to that mod who took down your post? Thank you so much for sharing.

In the meantime, you can prepare for the course by getting familiar with the bot's open source code, which is in Ruby. Once you understand the basics of getting the bot working, you'll be able to extend it and configure it to run your own more complex strategies. I'll give hints for what those strategies might be like in the course.


Nov 27, 2013

Hey heynk! In the event this does get funded and the class happens, I'd like to know if there's anything I can do right now to help myself when this class begins. I'm a software developer with a background in 'C', Unix and Network Programming. I understand that the class is not about programming, but as someone who gets programming, is there anything I can do right now that will help me during the class?

PS: In hopes of getting this funded, posted a link to this on ... really hoping this happens!

Convert?fit=clip&h=18&w=18heynk Creator

Nov 27, 2013

Hey @deraty!

This bot is configurable to only conduct arbitrage at a particular level. For example, you could configure it to only trade if the arbitrage amount is above 8%. The actual number you choose is up to you. At lower levels, you'll make less profit, but will get to trade more often. Higher levels will have more profit but will occur more rarely.

In terms of minimum investment level - it really depends on what exchanges you're trading with and what their fee structure is like. I'll address this much more in the class, but the % return really depends on what arbitrage levels you're trading at and the volume of bitcoin you trade per transaction. So if your bot is configured to trade at 8%, you might be able to expect something like 6% profit per round after all fees are considered.


Nov 27, 2013

With this arbitrage - how much minimum should we invest to have some considerable income? --- And, what % return should we expect (just assuming Bitcoin price is the same - ignoring the bitcoin price change)

Convert?fit=clip&h=18&w=18heynk Creator

Nov 26, 2013

You won't get charged until you get access to course materials. You've successfully supported this fund!


Nov 26, 2013

Having trouble funding this....I click on "Support this Fund" after having added payment info...but I'm not redirected to any payment processor or anything else, payment just shows up as pending....what am I missing?

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