Arbitoor: NEAR DEX aggregator
Single liquidity endpoint for best trade prices on NEAR
Created on 29th May 2022
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Arbitoor: NEAR DEX aggregator
Single liquidity endpoint for best trade prices on NEAR
The problem Arbitoor: NEAR DEX aggregator solves
Arbitoor maximizes the efficiency of trading routes between DEXs, delivering the best priced trade to the end user across all DEXs in the NEAR ecosystem, all in one simple, intuitive UI.
Liquidity is spread out between different platforms, making trading between pairs more costly and less convenient. For traders and bots alike, finding the best trading routes is an essential component for a healthy trading ecosystem, allowing them to profit from arbitrages and keep prices balanced across all disparate liquidity sources on NEAR. Arbitoor’s frontend and API allow them to find the most efficient routes all in one place, without the need to jump between DEXs- both AMMs and order books alike.
As new and existing users come into the NEAR ecosystem, they can now access the entirety of assets on both NEAR native and Aurora all in one place- Arbitoor.
Challenges I ran into
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NEAR's async runtime presents a challenge for series DEX aggregation. If you call contract B from contract A and B fails, then A is not reverted. Suppose the router swaps USDC to Tether on Ref and proceeds to swap Tether to NEAR on Jumbo. If the second swap fails, the user will be left with the intermediary token Tether. If you want to get USDC back, i.e. you will have to swap again and pay the swap fee. This risk could be acceptable for retail traders, but not for arb bots. For this reason we decided to forego series routing in v1, and focus on client side parallel routing (i.e. 20% USDC on Ref, 80% on Jumbo).
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Existing DEX aggregators like 1Inch.io and Jup.ag are close source. We're building our own routing algorithm, using Ref's auto router as a starting point. Currently we support two Uni v2 DEXes (Ref and Jumbo), supporting other types of AMMs like stableswap and orderbooks (spin.fi, tonic.foundation) is a work in progress.
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Quote fetch is slow as RPC calls are being repeated. We need to implement caching.
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Buttons for docs, charts, slippage etc are stubs. Out of time : (
Disclosure- Arbitoor is by the team behind cykura.io, a funded decentralized exchange on Solana. We had a team of two working on Arbitoor for a month. The UI work begun a week ago.
Technologies used