find-xemm-opps Find Cross-Exchange Market Making (XEMM) opportunities by analyzing order book depth and liquidity across connected exchanges. XEMM involves quoting on one exchange (the maker side) while hedging fills on another (the taker/hedge side). The best opportunities exist where: One exchange has a wide spread and thin book (maker side — room to quote profitably) Another has a tight spread and deep book (taker side — cheap to hedge) A mid-price difference exists between them Prerequisites Hummingbot API must be running with exchange connectors configured: bash < ( curl -s https://raw.githubusercontent.com/hummingbot/skills/main/skills/lp-agent/scripts/check_prerequisites.sh ) Workflow Step 1: Define Token Pair

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 Step 2: Interpret Results The script outputs a market overview table and ranked XEMM opportunity pairs : ==================================================================== XEMM Opportunities — SOL / USDC Order book depth: 20 levels | Sources: 18 ==================================================================== 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):

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 Columns explained: 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 Script Options Option Description --base Base token(s), comma-separated (e.g., ETH,WETH) --quote Quote token(s), comma-separated (e.g., USDT,USDC) --connectors Filter to specific connectors (optional) --depth Order book depth per exchange (default: 20) --min-spread Minimum mid-price spread % between exchanges (default: 0.0) --include-btc-markets Include btc_markets (Australian residents only) --include-ndax Include ndax (Canadian residents only) --json Output as JSON Environment Variables export HUMMINGBOT_API_URL = http://localhost:8000 export API_USER = admin export API_PASS = admin Scripts check for .env in: ./hummingbot-api/.env → ~/.hummingbot/.env → .env Requirements Hummingbot API running At least 2 exchange connectors configured with API keys