11.5 Find Arbitrage Opportunities

Alteryx Essentials Workshop 3 - Cryptocurrency Arbitrage
5 minutes
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Transcript

In the previous video, we identified the Best Buy and Sell prices. And now we're going to combine all that information together to determine if there are any good arbitrage opportunities. Let's start by combining our data by dragging in a join multiple tool from the join tab will join the two unique anchors into the join multiple and will join by record positions since our sell and buy prices are filtered and sorted in the same way, so our coins will always be in the same position. Therefore joined by record position can be used in this instance. Let's update the field names in the configuration pane. So for input one which contains our immediate buy price information, we'll rename input one exchange to buy from or buy from this exchange.

And then for Jason value stream This will be our immediate buyout, or immediate buy price input to exchange or call this sell to or sell to this exchange. And then for JSON value string here, this will be immediate sell at. Since we don't need these fields anymore JSON name, input to name and input two, and JSON name and input one. We can untick those. And then lastly, we'll update our data types for JSON value strings are double as they're going to be numbers and not text. And then we'll add a browse tool to the end of our workflow.

And if we run our workflow, we can see that our buy and sell data have now been combined in the same row. Now we're going to finish This off by writing a formula to determine the price difference between a buy and sell as a percentage, and also a textfield to advise on the best course of action. So let's drag in a formula tool from the preparation tab. And we'll create a new output column called return. And this is going to be our immediate sell at minus how immediate buyout. We're hoping to see a positive number from this calculation.

Now that we have the price difference, we want to see it as a percentage. So we'll add another output column and call this one return percentage. We'll add a round function and fill in the parameters here. So x will be our return divided by our immediate to buy multiplied by 100. And we want to round it off to a multiplier of one, which will give us a whole number. This is giving us an error here because we've got the string data type, so we'll change this to double.

Change this to double. And we'll add a browse tool to our workflow and run it and then we have our return details. So there was a problem with the recording here. But what I want you to do is create a new output column with the formula tool and name it action will then insert an IF function into By clicking on the fx icon and locating the IF function, so our C condition is going to be return percentage is more than or equal to nine. And if that's true, then we want a text to output identified. Otherwise, we'll return no job.

Let's run our workflow and see if any arbitrage opportunities have been identified. So it looks like there were no arbitrage opportunities as all exchanges have their coins similarly priced. There you have it, you now have a working product that identifies price discrepancies between cryptocurrency exchanges. I know the results may look a little underwhelming, but you can research other coins to find out arbitrage opportunities. Congratulations on making it this far. I know this workshop contains a lot of new concepts and jargon which can be pretty confronting, but I hope you learned a lot from it and can apply it to your work.

So as I highlighted at the start of this video, it's most likely that you won't make any money from this. And at the time of recording this video, the market isn't doing very well. And this is purely for learning purposes only. In the next video, we're going to convert our workflow into a macro and dynamically control the arbitrage percentage instead of a static 9%.

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