Tutorial: Arbitrage Bot
1. Create a connection and wallet object.
It's important to safely load your private key outside of the code to ensure privacy.
2. Install the @drift-labs/sdk.
For more details, peek through SDK Documentation.
2. Initialize an account and deposit collateral (USDC) on Drift.
3. Pick a market and load the price.
4. Based on the current price, make a trade by passing a direction (LONG, SHORT) and size (USDC notional).
Optionally: You can set a limitPrice to place an Immediate or Cancel (IOC) order to help ensure your entryPrice comes as expected.
Take advantage of the SDK helpers that we've written for more measured trading:
For instance,calculateTargetPriceTradecalculate the liquidity available between the current markPrice to your targetPrice.
This function is highly recommended for arbitrageurs.