Global
The new standard in automated market making.
Bullish revolutionizes crypto automated market making by offering traders deep liquidity while empowering liquidity providers with an alternative way to make markets.
Unique liquidity from thousands of bids and offers.
Our proprietary Automated Market Maker (AMM) efficiently converts liquidity that is exclusively available on Bullish in the form of Automated Market Making Instructions into thousands of bids and offers. Once placed, these bids and offers create more predictable depth across varying market conditions.
Bullish’s AMM evolves and improves upon the constant product market maker model (xy=k) often seen in DeFi. This makes Bullish more reliable and efficient than other exchanges—centralized or decentralized.
The Bullish Order Book.
An alternative way to make markets.
Liquidity on Bullish is derived from customer assets in the form of AMM Instructions. This feature enables customers to seamlessly make markets on the Bullish Order Book by allocating their assets within specified trading parameters. Upon submitting an AMM Instruction, the Bullish AMM instantaneously generates thousands of individual bids and offers.
As other market participants trade against these bids and offers, the customer who initiated the AMM Instruction can receive AMM payments through trading fees, spreads, and dynamic price adjustments when trades are matched against those specific bids and offers.
AMM Instructions are high risk and only available to eligible institutional and corporate professional investors in select locations. Derivatives AMM Instructions are not available in Hong Kong or the U.S. or to Hong Kong or U.S. users.
Automated market making instructions
Create custom AMM Instructions.
AMM Instructions are dynamic and fully customizable to a customers’ trading strategy. Customers can send multiple AMM Instructions across all markets.
Spot AMM Instructions.
Assets placed within AMM Instructions in spot markets can be allocated across customized price ranges and bid/offer spreads.
Customizable
parameters include:
Customizable
parameters include:
Market
1/5
Minimum bid/offer spread
1/5
Dynamic spread
1/5
Lower/upper price boundaries
1/5
Quantity of assets
1/5
- Market
- Minimum bid/offer spread
- Dynamic spread
- Lower/upper price boundaries
- Quantity of assets
Derivatives AMM Instructions.
For AMM instructions placed in perpetuals and dated futures markets, customers are required to supply sufficient margin rather than supply actual assets, and collateral does not need to be in the same denomination as the underlying market itself. As with all derivatives trading at Bullish, customers have the flexibility to supply more or less collateral to match their preferred risk profile.
Customizable
parameters include:
Market
Longest long or short position you are willing to take
Minimum bid/offer spread
Dynamic pricing
Gain access to a range of trading features by connecting to the Bullish API.
Trade with REST and FIX.
Place AMM Instructions with REST.
Monitor markets and private data with REST and Websocket.
Regulated.
Bullish is licensed by the Gibraltar Financial Services Commission (GFSC), which applies international regulatory standards and supervisory best-practices.
Reliable.
High-performance matching engine lets you trade with confidence in variable market conditions.
Secure.
The security and integrity benefits of blockchain, combined with strong cryptographic safeguards and multi-factor authentication.
Start trading.
Trade crypto’s biggest assets on Bullish with near-zero spreads and low fees.