In this article you will find:
- What is Lending Pro
- How to access Lending Pro at Bitfinex
- How to set up Lending Pro on Bitfinex
- What are the available lending modes on Lending Pro settings
- What is a period mode on Bitfinex Lending Pro settings
- What is on the Lending Pro dashboard
- What is on the Lending page
- How to cancel bids and offers
- What is on the Earnings page
- What is on the Calculator page
What is Lending Pro
Lending Pro is a highly customisable tool that utilises automated technologies and advanced features to manage lending based on a user’s specifications and market conditions.
It includes charts and tools that allow you to track balance easily, understand performance and potentially increase your earnings by automating the management of crypto funding in Bitfinex’s peer-to-peer lending portal.
Note: The minimum amount to offer using Lending Pro is $150 USD equivalent, for more information please view here.
- Intermediate verification is required to access Margin Funding and Lending Pro. This applies to users who created an account after March 1, 2022.
- Basic Plus verification is required for accounts created between January 1st, 2022 and March 1st, 2022.
- Accounts created before these dates will be able to continue without having to upgrade their verification levels.
How to access Lending Pro at Bitfinex
1. Firstly log in to your Bitfinex account.
2. Then, select the Lending Pro option displayed once you hover over the Funding menu on the top main panel.
Alternatively, you can visit https://www.bitfinex.com/funding/advanced.
How to set up Lending Pro on Bitfinex
To set up Lending Pro and enable the automatic routing of offers on your behalf, open the settings panel by clicking the setting button in the dashboard top-right corner.
Note: Before any automated routing can occur, you must set your parameters and allow lending automation by enabling the toggle button. Lending Pro can do this either on a per currency basis or you can select the All Currencies button to apply the entered parameters for all supported currencies.
What are the available lending modes on Lending Pro settings
There are currently three available lending methods for Bitfinex Lending Pro:
- Dynamic: Lending Pro will route an offer to lend on your behalf, which it will replace over time with offers at lower rates until the offer to lend is matched or market conditions change by a certain amount.
- Static: Lending Pro will route an offer to lend on your behalf, which it will replace if market conditions change by a certain amount.
- Market: Lending Pro will route an offer to lend on your behalf at the last matched interest rate when Lending Pro routes the offer. Lending Pro will route a replacement offer to lend on your behalf if market conditions change by a certain amount, with offer terms calculated as described above.
What is a period mode on Bitfinex Lending Pro settings
Period mode is an automation setting that allows you to customise which lending duration is chosen when offers are placed. The addition of this setting enhances the ability to fine-tune lending strategies and optimise the management of crypto funding.
The three-period modes available:
- Dynamic: Your lending duration will be automatically chosen based on current market conditions.
- Fixed: This mode allows you to set the lending duration of all offers using the period you specify.
- Custom: This mode allows you to create behavioural triggers that will fix offer durations based on your chosen rates. When an offers’ rate exceeds an existing triggers’ rate, the offers’ duration will be set to the duration of the associated trigger; this duration will remain in effect until either another trigger rate is exceeded or the rate falls below the trigger amount.
In addition to the settings mentioned above, numerous other alterations allow you to tailor the offered Lending Pro routes on your behalf to your personal preferences.
What is on the Lending Pro dashboard
You will find that there are three main views on the Lending Pro dashboard:
What is on the Lending page
The Lending widget has a Pro tab that displays the rates, period, and amounts as determined by Lending Pro.
Note: The Lending widget only shows information for currencies you’ve enabled for Lending Pro and have a balance available for lending based on your settings and requirements of the peer to peer lending market.
On the Lending page, you will also notice an Order Form which allows you to make lending bids or offers for all of the available markets on Bitfinex’s peer to peer lending market. In addition, you can change the selected currency via the drop-down button at the top right of the form.
Bitfinex’s Lending Pro offers features that allow you to monitor and gain better insight into your lending performance compared to margin funding.
These features include:
- Lending Performance;
- Provided Loans;
- Provided Stats;
- Loans Expiring and;
- Recently Filled.
You will also find the current Bitfinex Funding Tickers, a section displaying all of the current top offers, bids, and Flash Return Rates for each currency, your Funding Wallet Balances, and your daily earnings under Today Earnings.
Estimated Earnings will also display expected earnings for the next day or for the entire duration of all open loans.
How to cancel bids and offers
You can cancel all bids or all offers using the Cancel All dropdown, shown below, in addition to the regular order cancellation options.
What is on the Earnings page
The Earnings page is a visual representation of earnings made historically via lending on the Bitfinex peer to peer market. Among all other functionalities and statistics, you will be able to see trends for certain currencies (in base currency and USD).
The earnings chart allows you to see earnings over multiple time periods, enabling you to spot earning trends and get a better picture of your overall performance. In addition, the amount of interest earned can be calculated using the currencies' native units or their current USD value.
Other details seen on this page include:
- Average daily earnings;
- Today's Earnings;
- Earnings for this month;
- Earnings for this year;
- Top Earners.
Note: The amount earned in the currencies' native units and current value in USD are displayed in these tables.
What is on the Calculator page
On the Calculator page, you find the Lending Calculator. This form allows you to enter parameters and view the hypothetical calculated returns on a standard and compounded interest basis. The hypothetical results will vary depending on the amount, rate and period you enter into the form.
On this page, you will also find the LEO Discount Calculator, which allows you to see your current LEO discount value as well as see hypothetical discount values based on the amount entered.
Important: Lending Pro is strictly an order routing system that implements offers to lend and extends loans on a user’s behalf in the peer-to-peer lending marketplace on Bitfinex. Lending Pro cannot evaluate a user's personal transaction criteria and circumstances. Nothing in this article is financial, legal or other advice. Nothing in this article is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references in this article to returns are only hypothetical and not guaranteed.
If you have any questions about Lending Pro, please contact Bitfinex Support.