Hummingbot Setup

You can take advantage of IDEX's lightning speed by setting up a trading bot. In this guide we'll show you how to run Hummingbot on IDEX.

Hummingbot is an open source software that helps you build market making and arbitrage bots.

We strongly recommend checking out Hummingbot's documentation here:

Basic Operations - Hummingbot Foundation

In this guide we'll show you how to install Hummingbot on a virtual machine (for optimum up-time, reliability). You can also do this on your own computer (or server) with Ubuntu 16.04 or later.

Hummingbot is a powerful, professional trading tool. If used incorrectly it could lead to financial losses. Please make sure to read Hummingbot's documentation thoroughly and understand the limits of your own trading strategies before committing funds to use this software on IDEX. IDEX is not responsible for any losses incurred when running this software.

Hummingbot + Virtual Machine

We'll begin by creating an account at Digital Ocean by clicking on [Sign Up] at the top-right corner of the website. Digital Ocean is a paid service so there will be monthly costs involved.

You may create an account using any of the options Digital Ocean provides

Digital Ocean will need to verify your identity via Credit Card or Paypal. Either option is fine

Once you've been verified, you can begin the setup process by clicking on "Deploy a virtual machine" as shown here.

Now we'll configure the specifications of the virtual machine we'll be using to run Hummingbot. We recommend using Ubuntu 20.04 LTS, a Basic plan, 1 CPU and 2GB of ram for installing Hummingbot.

You may downgrade your virtual machine to $5/mo AFTER successfully installing Hummingbot as the extra CPU power is only required for the initial installation. Here's how to do so: https://docs.digitalocean.com/products/droplets/resources/downsize/

You can choose any location you want, this won't have an effect on Hummingbot

Select the Password option for authentication and enter a password of your choice.

Click on [Create Droplet] to launch your virtual machine.

Once your virtual machine has been created, you can click on its menu (or the 3 dots on the top-right side) then select "Access Console" to open a terminal to your virtual machine.

A new window will open. It will be connected to your virtual machine. We will now add a new user by typing the following command:

adduser <YOUR USERNAME>

Hit Enter to continue

You'll be asked to type in your full name, room number, work phone etc. These details aren't necessary so you can hit Enter to leave them blank if you wish.

Type the letter Y and hit Enter to continue

Now we'll add the newly created account to our sudo group by typing in the following:

usermod -aG sudo <YOUR USERNAME>

Hit Enter to continue

You can close this window now.

Connecting to your virtual machine from your computer

With the basic setup out of the way, we can begin installing Hummingbot in your virtual machine. To accomplish this, you'll connect to it from your computer. We will use the "Command Prompt" (Windows) or "Terminal" (macOS).

On macOS: you can use "cmd⌘ + spacebar" to open spotlight then enter "terminal"

On Windows: you can use the Search for "Command Prompt". Alternatively "Windows Key + R" to open Run then enter "cmd".

The Run window is displayed at the bottom-left corner of this image

A new window will open now, looks like this:

Once you're on windows command prompt, you must enable copy pasting by right clicking the title bar and selecting Properties as shown above.

Tick the option "Use Ctrl+shift C/V as copy paste" as shown above then click [OK].

Before we continue its also important that you write down your virtual machine's IP address:

You can find this on your Digital Ocean control panel

Now we'll connect to the virtual machine we created at Digital Ocean via SSH by running:

ssh yourUsername@yourIPaddress

You must use the username you created earlier and the IP address we just saved..

You'll be asked if you want to "continue connecting". Type the word "yes" and hit Enter.

Once you're connected to your virtual machine then you should see your its username and host name on the terminal (as shown above).

Installing Hummingbot in your virtual machine

Now we can begin installing Hummingbot by cloning the IDEX-Hummingbot repository from github by running:

git clone https://github.com/idexio/hummingbot.git hummingbot.idex

Hit Enter to continue

Next, we will open the Hummingbot directory using the cd command:

cd hummingbot.idex

Hit Enter to continue

Now we must switch to the "Silverton" branch to use with IDEXv3 (Polygon) by running:

git checkout idex/devAktech-v3-silverton

Hit Enter to continue

Once you've successfully switched to the Silverton branch then you should see "Switched to a new branch idex/devAktech-v3-silverton" as shown here:

Now you can update your dependencies by running the following commands:

sudo apt-get update

Hit Enter to continue, this may take a few minutes to complete.

Next, we type the following command:

sudo apt-get install -y build-essential

Hit Enter to continue

Then we must install "miniconda3" by running:

wget https://repo.continuum.io/miniconda/Miniconda3-latest-Linux-x86_64.sh

Hit Enter to continue

Now the following command:

sh Miniconda3-latest-Linux-x86_64.sh

Hit Enter to continue

You will be asked to accept the license terms for miniconda3. Be sure to answer "yes" on all options.

After you type Yes, hit Enter to continue

You will be asked for an install location, just press the enter key to install miniconda on the default location.

Once the installer is finished, you'll be asked to initialize Miniconda3. Type "Yes" and hit enter to continue

Once we have finished installing miniconda3 then we can update .bashrc to register conda by running:

exec bash

Hit Enter to continue

Now we'll install the Hummingbot modules with:

./clean && ./install

Hit Enter to continue

Activate environment and compile code with:

conda activate hummingbot && ./compile

Hit Enter to continue, this make take several minutes

Once it's done compiling then we can start Hummingbot by running:

bin/hummingbot.py

Hit Enter to launch Hummingbot

You've finished installing Hummingbot on your virtual machine.

Click OK to continue

Make sure to accept the terms and conditions of Hummingbot and don't close the command prompt window.

Setting up Hummingbot

First we'll need an API key from IDEX. You can sign up for API keys under the "?" icon on the top right of our website (https://exchange.idex.io/) then to "API keys" and create a new account or Login with your existing details.

Once you're logged in to your API account then you will be able to generate your API key by pressing the "Generate new API key" button.

Once your API key is created then check the "Read" and "Trade" options to allow trading with your API key via Hummingbot. Click [Save] and copy the API key and Secret as you'll need them shortly.

Now back to Hummingbot you can connect to the IDEX by running:

connect idex

Now you'll be asked to copy your IDEX API key, API secret and your wallet private key.

Neither IDEX or Hummingbot have access to your private information.

Congratulations! You've successfully set up Hummingbot to run on IDEX. From this point forward, you need to configure the trading strategy your bot will run on your behalf. In the next steps we'll provide you with a couple of examples.

We strongly suggest you read Hummingbot's official documentation on Basic Operations

pagePure Market Making

Disclaimer

Hummingbot is a powerful, professional trading tool. if used incorrectly it could lead to financial losses. Please make sure to read Hummingbot's documentation thoroughly and understand the limits of your own trading strategies before committing funds to use this software on IDEX. IDEX is not responsible for any losses incurred when running this software.