External Pricing Source Configuration¶
By default, Hummingbot uses the market orderbook mid price (between the top bid and the top ask) as a starting price to calculate maker order prices. With external pricing sources, you can now use external sources for the starting mid price such as an external exchange, data feed, or a custom API.
In a situation where the calculaton of maker order prices from external sources would result in the order matching any existing orders on the order book, such order will be ignored. For example, if ETH-USDC market is currently displaying 109 bid and 111 ask. A specified external exchange is showing 99 bid and 101 ask on its book (mid price = 100). 2 maker orders will be proposed, a bid maker order at 98 (for 2% bid spread) and an ask maker order at 102 (for 2% ask spread). The 102 ask order will be ignored (as it would match the 109 bid order), only the bid order will be submitted to the exchange.
||Whether to use external pricing source for the mid price.||
||The type of external pricing source (exchange/feed/custom_api)||none|
||An external exchange name (for external exchange pricing source)||none|
|external_price_source _exchange_trading_pair||A trading pair for the external exchange (for external exchange pricing source).||none|
||A base asset, e.g. ETH (for external feed pricing source).||none|
||A quote asset, e.g. USD (for external feed pricing source).||none|
||An external api that returns price (for external custom_api pricing source).||none|