What is Bitfinex Honey
Honey is an open-source toolkit for traders to develop and implement custom order types on the Bitfinex platform. With Honey, you will be able to connect trading strategies running on your own servers directly to our trading engine.
Bitfinex Honey is integrated seamlessly into the existing familiar Bitfinex interface. It provides you with the ability to design custom order form layouts, trigger notifications, and render status information directly in the orders table.
Note: Bitfinex Honey refers to the web page version that can be accessed after logging into the Bitfinex website or through this link when logged in.
Bitfinex Honey Framework refers to the downloadable application that can be found here.
Honey Framework was launched in March 2018, and now it offers two open-source libraries:
Together they provide a complete algorithmic order system tightly integrated into the Bitfinex UI.
How to set up Honey
Simply log in to your Bitfinex account and go to the Honey page: http://h.bitfinex.com/
Execute algo orders directly from your browser. No installation is required!
For professional traders, you can download the self-hosted application that contains the full suite of Honey Framework libraries and tools in an easily installable application.
Get the latest Honey Framework version here: https://honey.bitfinex.com/
What are the Honey Algorithmic Orders
The sophisticated algorithms found on Honey enables users to automate trading and execute hundreds of orders at once directly from the Bitfinex UI.
You can also use the Honey strategy libraries to write, backtest, and execute your ideas on live markets and historical data. The library, which comes with 45+ indicators, is available for both Python and JavaScript.
Honey Algorithmic Orders
While Honey enables users to customise their experiences, it also comes with the below orders built-in algorithmic orders.
TWAP
TWAP (Time-Weighted-Average-Price) spreads an order out through time to fill at the TWAP, calculated between the time the order is submitted to the final atomic order close.
The price can be specified as a fixed external target, such as the top bid/ask or last trade price, or as an explicit target that must be matched against the top bid/ask/last trade/etc.
Note: Available on the website version.
Iceberg
Iceberg allows you to place a large order on the market while ensuring only a small part of it is ever filled at once. By enabling the Excess As Hidden option, it is possible to offer up the remainder as a hidden order, allowing for minimal market disruption when executing large trades. The most common use of this order type is to minimise market disruption.
Note: Available on the website version.
Accumulate/Distribute
Accumulate/Distribute allows users to split a large order into smaller randomised portions, submitted at regular and/or irregular intervals.
By enabling the Await Fill or Catch Up options, the algorithm will either ensure each component fills before submitting subsequent orders or will ignore the slice interval for the next order, thereby ensuring the time-to-fill for the entire order is not adversely affected.
- For `LIMIT` order type: the price must be manually specified as `limitPrice`;
- For `RELATIVE` order type: the price must be a combination of a price offset;
- For `MARKET` order type: orders execute using `MARKET` atomic orders and offer no price control.
Note: Available on the hosted application.
Ping/Pong
Ping/pong submits multiple ping orders; once a ping order fills, an associated pong order is submitted.
Multiple ping/pong pairs can be created by specifying an order count greater than 1,a suitable min/max ping price, and a pong distance. Multiple ping orders will be created between the specified min/max prices, with the associated pongs offset by the pong distance from the ping price. When operating in Endless mode, new ping orders will be submitted when their associated pongs fill.
Note: Available on the hosted application.
MA Crossover
The MA Crossover is a special algorithmic order type triggered by an indicator condition. Specifically, the moment two configurable moving averages cross each other. Either exponential MA or the normal MA can be used, with individually configurable timeframes and periods for both, to trigger the execution of a MARKET or LIMIT order.
Note: Available on the hosted application.
For further information on Honey and document on setting up, please view https://docs.bitfinex.com/v2/reference#honey-framework.
Note: If you would like to test Honey trading strategies in a simulated environment without putting real funds at risk, you can easily create a Paper Trading account.
Contribute to the Honey Framework code
At Bitfinex, we love open source and encourage it as much as possible! Developers can use our built-in code to customise their experience. In addition, developers can also request features, bug fixes and general contributions to the open-source code by contacting us at Bitfinex Support or through GitHub.
If you have any questions, feel free to contact our Bitfinex Support team. We will be happy to help!
