What a Binance P2P repricing bot does, and what it can't do
A repricing bot keeps the price of your P2P ads where you want them relative to the competition, so you don't have to watch the list all day. Below is one cycle of P2P Trade Bot, step by step.
One cycle
Every few seconds (five by default) the bot runs the same steps for each ad you have switched on:
- Read your ad from your Binance account: its current price, remaining amount and payment methods.
- Read the market your ad competes in: the same list a customer sees, up to 50 ads deep, filtered by the order size and payment methods you chose.
- Drop what shouldn't count: your own ads, advertisers you ignore, people who have been offline for a while, and ads that fail your completion-rate, order-count or outlier filters.
- Pick the ad to beat: the one at your target position, or a specific competitor you follow.
- Work out the price: one price step better than that ad, then clamp it to your floor (for sell ads) or ceiling (for buy ads).
- Change the price only if it is off by more than your tolerance, so Binance isn't flooded with tiny edits.
If the price is already right, nothing is sent.
What it protects you from
The limit matters more than the strategy. Without a floor, a sell ad follows the market down as far as the market goes. With one, the ad stops at the floor and stays listed there, and moves up again when the market recovers.
The floor can be a fixed number or your cost basis plus a margin. The bot can calculate the cost basis from your own completed orders, so the floor follows what your current inventory actually cost you.
What it can't do
- It can't make a bad market profitable. If everyone sells below your cost, the bot holds your floor and you sell less. That is the correct outcome, but it isn't more trades.
- It doesn't see private deals. It works with the public list, like your customers.
- It needs a working Binance session. When Binance logs you out, prices stop changing until you log in again. The bot tells you when that happens.
- Binance can block edits. An ad with less than 100 units left can't have its price changed at all. See error 083762.
- Binance changes its website. Any tool that works with the P2P site can break when Binance changes it, until the tool is updated.
Is it worth running?
It depends on how often your market moves and how much a few minutes out of position costs you. The manual vs automatic repricing guide works through that decision.
Start any bot in simulation mode first, where it decides prices but changes nothing, and compare what it would have done with what you did.