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Find Cross-Exchange Market Making (XEMM) opportunities by comparing order book depth and liquidity across exchanges. Identifies pairs where one exchange has thin liquidity (ideal for quoting) and another has deep liquidity (ideal for hedging).
npx skill4agent add hummingbot/skills find-xemm-oppsbash <(curl -s https://raw.githubusercontent.com/hummingbot/skills/main/skills/lp-agent/scripts/check_prerequisites.sh)# Scan for SOL/USDT XEMM opportunities
python scripts/find_xemm_opps.py --base SOL --quote USDT
# Include fungible equivalents
python scripts/find_xemm_opps.py --base ETH,WETH --quote USDT,USDC
# Filter to specific connectors
python scripts/find_xemm_opps.py --base BTC --quote USDT --connectors binance,kraken,coinbase,okx
# Minimum mid-price spread between exchanges (default: 0.0%)
python scripts/find_xemm_opps.py --base SOL --quote USDC --min-spread 0.05====================================================================
XEMM Opportunities — SOL / USDC
Order book depth: 20 levels | Sources: 18
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Exchange Pair Mid Spread Bid Depth Ask Depth B/A
---------------------- -------------- ---------- -------- ------------ ------------ ------
bitstamp SOL-USDC $87.45 0.120% $23.4K $18.9K 1.24
binance SOL-USDT $87.51 0.015% $412.0K $389.0K 1.06
okx SOL-USDT $87.56 0.023% $287.0K $301.0K 0.95
...
Top XEMM Opportunities (MAKER → hedge on TAKER):
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#1 Score: 8.42
MAKER bitstamp $87.45 spread 0.120% depth $42.3K
TAKER binance $87.51 spread 0.015% depth $801.0K
Mid-price gap: 0.0686% | Spread ratio: 8.0x | Depth ratio: 18.9x| Column | Description |
|---|---|
| Mid | Mid-price between best bid and ask |
| Spread | Bid-ask spread as % of mid |
| Bid/Ask Depth | Total quote value of top-N order book levels |
| B/A | Bid-to-ask depth ratio (>1 = more buy pressure) |
| Spread ratio | Maker spread ÷ taker spread — higher = better maker edge |
| Depth ratio | Taker depth ÷ maker depth — higher = better hedge liquidity |
| Option | Description |
|---|---|
| Base token(s), comma-separated (e.g., ETH,WETH) |
| Quote token(s), comma-separated (e.g., USDT,USDC) |
| Filter to specific connectors (optional) |
| Order book depth per exchange (default: 20) |
| Minimum mid-price spread % between exchanges (default: 0.0) |
| Include btc_markets (Australian residents only) |
| Include ndax (Canadian residents only) |
| Output as JSON |
export HUMMINGBOT_API_URL=http://localhost:8000
export API_USER=admin
export API_PASS=admin.env./hummingbot-api/.env~/.hummingbot/.env.env