什么叫搬砖？顾名思义，就是根据各个交易所时时存在的价差，將虚拟币从价格相对较低的交易所买来，再从价格较高的交易所卖出，从而快速的赚取中间的价差。
What does it mean to move bricks? By definition, it is to buy virtual currency from a relatively low-priced exchange and sell it from a higher-priced exchange, depending on the price differential that exists at the time of each exchange, so that the intermediate price difference is quickly earned.
随着时间和技术的演化，搬砖又分成了两种：硬搬砖和软搬砖。
As time and technology evolved, the bricks were divided into two categories: hard bricks and soft bricks.
硬搬砖就是通过在价格差过大的交易所同时买入卖出，买入后提币到卖出的交易所，卖出的交易所提现，然后在买入的交易所充值，如此轮回。
The hard move of bricks is made by buying and selling at the same time at an exchange with a price that is too low, raising money at the same time, offering cash for the transaction, and then charging the value at the same exchange that is purchased.
2017年，特别是94那段时间硬搬砖利润空间在10个点到60个点左右。随着技术的进步和参与的人数越来越多，现在我们基本看不到这样的事情。只有新币上平台，或者类似前几天XX交易所被盗等不可抗力产生的突发性事件，才可能产生硬搬砖利润较大的局面！
With technological advances and increasing numbers of people involved, we hardly see anything like this. Only the new currency on the platform, or unexpected events such as the theft of the XX Exchange the other day, could create a situation where the hard bricks are more profitable.
做硬搬砖我们需要明白一简事，如果一个交易所的价格比市场价格低太多，肯定是有原因的。要么是手续费太高，要么是提币时间太久，要么是交易所可信度太低。这也是硬搬砖必须要承担的风险！另外，跨平台转账的时间差和币价格的波动也严重影响硬搬砖的效果。
We need to know a simple thing, and there must be a reason why an exchange is priced too much lower than a market price. Either the fees are too high, the money is too long, or the exchange’s credibility is too low.
如果你运气不好，硬搬砖的时候遇到大跌，或者各写交易所提币时间又太久没办法撤出等导致了损失，我们称为砸脚。以新币居多。
If you have bad luck, you have a big fall when you move bricks, or you can't get the money out for too long to write each transaction, we call it a foot break. More in the new currency.
目前来看，硬搬砖的可操作性和利润不多了。虽然现在硬搬砖也出现了很多软件，但是亏损的风险仍旧很大。
So far, hard bricks are less operational and less profitable. Although there are now a lot of software available for hard bricks, the risk of loss remains high.
搬砖有风险！搬砖有风险！搬砖有风险！重要的事情先提前说三遍！在这里我们只是做一下介绍，万一有人脑袋一热非去硬搬砖，砸疼了脚可别来找我们！
It's dangerous to move bricks, it's dangerous to move bricks, it's dangerous to move bricks, it's important to say it three times in advance.
软搬砖是在硬搬砖的基础上进化出来的，又称为对冲，跨市对冲套利！目前软搬砖的操作只能用特定的软件来做！
Soft bricks have evolved on the basis of hard bricks, also known as hedges, cross-market hedges. Soft bricks can only be implemented with specific software.
原理是：同时在两个交易所开户并充值。利用两个交易所在短时间的价格差，同时在A、B两个交易所操作，一个买入币，一个卖出币，最终所有交易所合计币的总量没有变化，但是法币（或比特币）的数量增加。由于过程中并没有出现转平台提币的操作，顾称为软搬砖。我们认为叫跨市对冲套利更合适一些！
The rationale is that two exchanges will operate at short-term price differentials, one buying and one selling and the total amount of all exchange totals will remain unchanged, but the amount of French currency (or bitcoins) will increase. Since there is no transfer platform to raise money, it is called soft bricks. We think it is more appropriate to call cross-market hedges.
跨市对冲套利的好处是：利用软件同时买入和卖出币，解决了硬搬砖提币的时间差问题。另外软件设置的时候可以将交易所的手续费一起作为参数输入进去，由软件进行判定：只有当价格差减去手续费大于设定利润率时，才开始进行对冲的操作。
The advantages of cross-municipal hedges are that software can be used to buy and sell coins simultaneously, resolving the problem of the time difference in hard-to-move brick coins. The other software can be set up by entering the exchange’s fees together as a parameter, with the software determining that hedge operations are only started when the price differential less the fee is greater than the profit margin.
理论上，跨市对冲套利是稳赚不赔的操作。如果将交易所由两家扩展到多家，出现价格差的概率会大大提高，加上软件24小时监控和操作。虽然对冲单次的利润可能没有硬搬砖高，但累积起来利润却远远超过硬搬砖，最大的优点是稳赚不赔！目前跨市对冲套利（软搬砖）是我们重点在做的一个项目。感兴趣的可以与我们联系。
The probability of price differentials is much higher if the exchange is expanded from two to more than one, coupled with 24-hour software surveillance and operations. While the profits of one-time hedges may not be high, the accumulated profits far exceed those of bricks, and the greatest advantage is that they are.
币圈搬砖是一个非常巨大的市场，而且随着数字货币资产的总额越来越大，这个市场也会不断的增大。全球各个交易所之所以能保持大致相当的价格，很重要的一点原因就是因为有大量的量化交易机器人在日夜不停的工作，每时每秒的在进行着全球之间的搬砖和对冲交易。
Currency-crickets are a very large market, and they will grow as the aggregate amount of digital monetary assets increases. One important reason why global exchanges can remain at roughly the same price is because there is a large number of quantitative trading robots working day and night, moving bricks and hedges around the globe every second.
当市场比较平淡的时候，收益会偏少，但当行情大幅度波动的时候，收益将会大幅提升。
When the market is relatively flat, the returns are low, but when there is significant volatility, the gains will rise significantly.
但随着行业的发展，这个行业竞争也越来越激烈，现在已经越来越专业化的运作了，专业的搬砖团队，已经考虑把服务器架设在交易所的同一个服务商的机房，只为了响应速度能比其他团队快几毫秒，而手工搬砖的时代，也早已经一去不复返了，如果不是程序化的自动搬砖交易，根本没机会去博取这种几乎无风险的利润。技术，已经成为这个行业最为重要的门槛！当然，差价就那么大，币值就那么多，当然跑的人越少，自己的利润越高！所以，目前大多数做跨市套利的，都还是写出程序来自己闷声发大财，并不愿意流到市面上。
But as the industry grows, competition in this sector is becoming more competitive, and it is now becoming more professional, with professional brick-shifting teams already considering placing servers in the same server room on the exchange only a few milliseconds faster than the rest of the team, and the age of hand-carbing is long gone, and if it is not a programmed automatic brick-shifting transaction, there is no opportunity to collect this near-risk-free profit. Technology has become the most important threshold for the industry. Of course, the price difference is so large, so many people run, of course, and the profit is higher.
针对对冲套利操技术壁垒，目前市场上也出现了很多全托管方式的跨市对冲套利公司，由专业化的团队进行开发维护设置，利用API设置接口的权限，安全性能得到保障。利润也非常的可观。多数币圈平民想做软搬砖的话可以用这种方式参与。
In response to technical barriers to arbitrage, there are now a number of fully hosted cross-municipal arbitrage companies in the market, which are developed and maintained by specialized teams, using API to set up interfaces, and security is guaranteed. The profits are also significant. Most of the citizens in the currency circle can participate in this way if they want to make soft tiles.
好了，关于混币圈的分类赚钱方式的讲解和分析就给大家介绍到这里。希望对各位有所帮助，如果有不同的观点或者想法欢迎留言，让我们一起在币圈讨论学习！
All right, here's a description and analysis of how the monetization is paid. I hope it will help you. If you have different points of view or ideas, please leave a message. Let's talk about it in the monet.
所有套利手段都有一定的时效性和局限性，如有意实践操作，务必做好进一步研究以及风险应对预案，如此才能游刃有余。
All arbitrage instruments have some timeliness and limitations, such as intentional operation, and further research and risk response preparedness are essential if they are to be exhaustive.
搬砖套利这一法子其实由来已久，可谓是币圈套利第一招，也是经久不衰的招数。我们也知道，数字币区别于股票，并非只能在一家交易所进行交易。而全球数字货币交易所就有上千家，并且每家交易所上的币价都存在一定的差异，有个别甚至是差距极大。于是就有了这种在交易价格低的平台买入，继而在交易价格高的平台卖出的套利方法，也被形象地称作“搬砖”，说到底，“搬砖”的本质就是赚取差价。
The move of brick arbitrage has a long history, and it is the first and constant move of currency arbitrage. We also know that digital currency is different from stocks, not only in one exchange.
升级版的“搬砖”方法，就是高低价交易所一买一卖同时操作。简单来说，就是将资产分一半钱一半币，一半钱放入到低价交易所A中，将另一半买到的币充值到高价交易所B中。举个例子，更加好理解：我在A交易所存入人民币，将之前就买到的EOS充值到B交易所，当A交易所EOS的价格低时，买入10个EOS，同时在B交易所卖出十个EOS，这样一来，两家交易所一买一卖的差价就是这次“搬砖”的利润。
An upgraded version of “ moving bricks & rdquo; the method is to buy and operate simultaneously on a high-priced exchange. Simply put, half of the assets are split into a low-value exchange, half into a low-value exchange, and the other half is sold into a high-value exchange B. For example, it is better understood that when I deposit an exchange A in a renminbi, I buy the previous EOS to an exchange B, buy 10 EOS while selling 10 EOS on an exchange B, so that the difference is this & ldquao; moving bricks & rdquao; profits.
糖果是各区块链项目方为了吸引用户或做回馈活动时给大家发的“福利”，一般项目方在派发糖果时都会选择直接给用户发放自己项目的代币，等待项目上线交易所后，赠送的代币就可以在交易所直接变现。糖果又可以分成空投币以及分叉币，分叉币是一个项目的区块链进行“升级”，区块链分裂生成两条共享历史交易记录的链，因此在硬分叉之前持有该项目数字币的用户就可以根据一定的比例获得其免费的分叉币。
Candy is a & ldquo; welfare & & rdquo for each block chain project party in order to attract users or to provide feedback; when sending candy, usually the project party chooses to issue its own project tokens directly to the user, so that, after waiting for the project’s online exchange, the money given can be realized directly on the exchange. The candy can also be divided into air drops and split currency, which is a project’s block chain & & ldquo; upgrading & & rdquo; the block chain split creates two chains of shared historical transactions, so that users who hold the project’s digital currency before the hard split can get their free splits according to a given proportion.
至于空投币，实际上就是项目方白送给你的数字币，不需要参与挖矿、购买或者说分叉前持有原币种等等条件，相关数字货币便会“凭空”打到你的钱包地址内。
As for air drops, they are actually digital coins given to you by the project for nothing, without the need to be involved in mining, purchasing or holding the original currency before the split, etc., the relevant digital currency would “ empty & rdquao; and in your wallet address.
交易所为了争取新用户，都会推出拉新激励活动，邀请新用户注册并且交易就可以得到返利，2018年6月初，前火币CTO张健创立的交易所FCoin依靠分红机制与“交易即挖矿”的返还模式，吸引了大量交易者的眼球。在流量匮乏之时，FCoin选择这样的一种方式，也是带着很强的目的性，就是要跟其他几大交易所抢夺用户资源。
In order to win new users, the exchange will launch a new incentive campaign, invite new users to register and make the deal profitable. In early June 2018, the former exchange, Coin CTO Changjian, relied on the distribution mechanism and & & ldquo; trading, or mining & rdquo; and the pattern of return, attracted a large number of traders. In times of scarcity, Fcoin chose such an approach, with a strong purpose, to rob user resources with several other major exchanges.
一个项目，除了早期私募是由机构参与之外，往后的公募和上线交易都在同一个交易所完成，这就是IEO模式。交易所自身的平台币是作为IEO项目的指定Token，因此IEO模式可以说是为交易所的平台币带来了新的使用场景，为沉寂已久的市场带来了丝丝生机。
One project, apart from the early involvement of institutions, will be followed by public fund-raising and online transactions on the same exchange, i.e., the IEO model. The exchange’s own platform currency is Token, designated as the IEO project, so the IEO model can be said to be a new use scene for the exchange’s platform currency, and it provides a glitter for the long-silent market.
币安的第一个IEO项目是孙宇晨的BTT，开盘后达到十倍的涨幅，紧接着上线Fetch AI，可谓是抢到就是赚到，随后一段时间BNB价格走势也相当乐观。第三轮IEO上线之际，大量用户涌入到币安，由于政策有所束缚，中国用户不能直接参与其中，于是引伸出新的买卖需求市场：外国KYC（身份认证）服务，价格在几百元不等。
The first IEO project was Sun Woo-jin’s BTT, which started with a ten-fold increase, followed immediately by the Fetsch AI, which was either captured or earned, and the BNB’s price movement over the ensuing period was quite optimistic. When the third round of IEO came online, a large number of users came into the currency, and because of policy constraints, Chinese users were unable to participate directly in it, so they gave rise to a new demand market: foreign KYC (identity certification) services, with prices varying from hundreds of dollars.
用户利用手中的平台币去申购IEO项目，在项目上线后抓住合适时机离场，低吸高抛，又是一笔十分可观的收益。尽管许多项目“上线即破发”，依旧阻挡不住用户想赚取第一波利润那躁动的心。
Users take advantage of the platform money in their hands to requisition the IEO project, and seize the right time to leave the site when the project is online and toss it up. Despite many projects & & & & & & & & & &, it still prevents users from trying to earn the first profit.
USDT是Tether公司发行的一种价值按1：1锚定美元的数字货币，也是目前币圈内市值、市占率最高的稳定币，理论上USDT的价格无限接近于美元价格，即USDT/USD的比值稳定趋向于1，同样对于国内各大交易平台的法币（人民币）汇率也理论上趋向于国际汇率水平。
The USDT is a digital currency issued by Tether with a value of 1:1 anchor in the United States dollar and the most market-rich and stable currency in the current currency circle. In theory, the USDT price is infinitely closer to the dollar price, i.e., the USDT/USD margin is stable towards 1 and the French currency (PRC) exchange rate is also theoretically at the international exchange rate level for the country's major trading platforms.
而实际上，由于市场行情的波动，不同时期大众对于USDT的需求也会产生明显的差异，因为市场上流通的USDT是有限的，所以需求的不同会导致USDT的价格产生波动，尤其是在比特币发生暴涨暴跌的时候，USDT的价格波动会更加剧烈，从而产生对于基准汇率的正溢价或者负溢价，产生套利机会。
In fact, as a result of fluctuations in market dynamics, public demand for USDs can vary significantly over time, as market flows of USDs are limited, so differences in demand can lead to volatility in the prices of USDs, especially at a time of sharp increases and drops in bitcoin, resulting in arbitrage opportunities for positive or negative premiums on base exchange rates.
期货合约的产生，初衷是为矿工、机构、大资金提供套期保值的一个重要工具，因其提供高倍杠杆的缘故，却一直深受币圈各阶层投资者的喜爱；作为财富盈亏的放大器，尤其令高风险偏好的散户投资者趋之若鹜；所以数字货币期货合约的成交量占据市场半壁江山，有着举足轻重的地位。
The creation of futures contracts was originally intended to be an important tool for providing hedges for miners, institutions and large funds, which, for their high leverage, have always been favoured by investors from all walks of life in the currency circle; as amplifiers of wealth gains and losses, especially in the case of high-risk bulk investors; and as a result, the volume of digital currency futures contracts, which dominates the market, is of great importance.
所谓盈亏同源，期货合约的投资可以令财富获得指数级的增长，也有可能造成巨大的亏损甚至“爆仓”，所以单边的期货合约策略收益大，风险也大，而运用期货和现货的组合，可以组成一个低风险的套利策略。
So-called profit-and-loss co-sources, futures contract investments can lead to exponential wealth growth, and they can lead to significant losses and even & & & & & & & & & & ; so unilateral futures contract strategies yield large gains and risks, and a combination of futures and spot packages can form a low-risk arbitrage strategy.
最后，所有套利手段都有一定的时效性和局限性，如有意实践操作，务必做好进一步研究以及风险应对预案，如此才能游刃有余。
Finally, all arbitrage instruments have some timeliness and limitations, such as intentional operation, and further research and risk response preparedness are essential if they are to be exhaustive.
在传统的金融市场里，我们经常能听到套利、对冲，交易员通过对市场的观察，建立对应的期货或者期权头寸，以此来达到套利或者减少仓位风险敞口的目的。
In traditional financial markets, we are often able to hear arbitrage, hedges, and traders, through their observations of the market, establish corresponding futures or options positions, which serve the purpose of arbitrage or reducing the exposure to warehouse risk.
在区块链的世界里，各个交易所和链上去中心化交易所相互独立，他们的流动性、深度不尽相同，因此，很多时候会出现同一币种较大差价的情况，由此诞生了专门穿梭于各个cex和dex的“搬砖”套利交易员，这是区块链独有的现货差价套利。类似于这种区块链独有的套利还有资金费率套利。
In a world of block chains, where exchanges and chains are independent of one another, where their mobility and depth vary, there is often a large difference in the same currency, resulting in the creation of & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & &, /, / /, / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /
什么是套利下单策略？ 套利一般是指利用对冲或互换的方式，以较低的风险来赚取不同市场之间的价差或利差。
What is a arbitrage strategy? A arbitrage typically refers to the use of hedges or swaps to earn price differentials or spreads between different markets at lower risk.
适用场景（okx场内）：
Applied scene (in kx):
1、现货和期货有明显价差的。
1. There are significant price differentials between spot and future goods.
2、远期和近期价差较以往明显不同的。
2. The far-reaching and near-term price differentials are significantly different from those in the past.
3、资金费率、频率相对平时有答复提升的。
3. Financial rates and frequency of response were raised relatively regularly.
资金费率套利：在现货和永续合约中同时进行两笔方向相反、数量相等、盈亏相抵的交易，目标是赚取永续合约交易中的资金费率收益。
Fund rate arbitrage: Two transactions in the opposite direction, equal in volume and net of gains and losses are carried out in both spot and permanent contracts, with the objective of earning the return on the fund rate in the permanent contract transaction.
1、当资金费率为正的时候，空头收取资金费，买入现货或者做多现货杠杆，开空等量价值的合约，直到费率降低到正常水平，同时平仓现货和合约。
1. When the funding rate is correct, contracts with an equivalent value will be opened until the rate is reduced to a normal level and cash and contracts will be levelled off-the-shelf.
2、当资金费率为负的时候，多头收取资金费，做空现货杠杆或交割合约，开多等量价值的合约，直到费率降低到正常水平。当然，还可以在链上或者交易所质押一定价值的token，借出标的卖出，同时开与借出同等价值的多头头寸，同时买回标的还币和平仓（操作相对麻烦，基本也很难做到同时，难度大，风险较大）。
2. When the funding rate is negative, multiple fees are charged, cash leverage or contracts are made, and multivalued contracts are opened until the rate is reduced to normal levels. Of course, it is possible to pledge a certain value totoken on the chain or on the exchange, to borrow the bid for sale, and to borrow the same value for multiple head positions, and to buy back the bid for return of the coin and peace warehouse (which is difficult to do at the same time and is difficult to do at the same time and at greater risk).
期现套利：当同币种的交割合约和现货存在较大价差时，通过买入低价方、卖出高价方，当两者的价差缩小时进行平仓，即可收获价差缩小部分利润。
Discount arbitrage: where there is a large difference in the value of the contract of delivery and the spot in the same currency, a partial reduction in the price difference can be realized by buying low-priced, selling high-priced parties and stifling them when the price difference between the two is reduced.
期期套利：买卖同币种不同交割日期的合约，利用其价差变动进行的套利。远期合约通常流动性比较差，经常会遇到盘口价格断层，且远期合约更需要关注项目长远发展和走势，远期和近期合约多数情况下，价差是不会回归的，所以风险比期现套利稍大。
Future arbitrage: Buy and sell contracts with different dates of delivery in the same currency, taking advantage of the arbitrage of their price differentials. Forward contracts are often less mobile, often encounter a cut-off price break, and forward contracts require greater attention to the long-term development and evolution of the project.
1、期现货价差短时间并没有缩小差价，并且持续扩大，会面临爆仓风险。
1. The short-term spot price difference does not reduce the price difference and continues to expand and is exposed to the risk of explosion.
2、资金费率是实时动态变化，需要时刻关注费率的变化，费率正负转变的话，会带来亏损。
2. The funding rate is a real-time dynamic that requires constant attention to changes in rates, with a positive or negative change in rates resulting in a loss.
3、价差套利时，在价差回归后要及时平仓。
3. When price differentials are arbitrage, they must be levelled in a timely manner upon return of price differentials.
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