Quote from: noggin-scratcher on March 24, 2015, 11:07:23 PM

Quote from: SebastianJu on March 24, 2015, 03:35:26 PM

So taking a swap doesnt give you actually the USD you loaned? Its only possible to use them for margin trading? If so then it would be a bit confusing. Giving loans you need actual real money, but taking loans only gives you something virtual.

Yes, swaps are explicitly only there to provide leverage in margin trading. What else exactly were you planning to do with the funds?

It has to be real money because it's going to go into trades with other users who might want some actual money in exchange, but it's "virtual" to prevent the swap recipient being able to run away with it.

It might be easy to implement a stop so that lend money cant be withdrawn.

What i wanted to try to do was taking a swap at 0.09% and offer the money at 0.11% again. Arbitrage. Though if that would work then there most probably wouldnt be such a spread.

Im not happy how bitfinex is handling the swap payments. They pay all swaps at one single time at the day. If you started your swap at another time then you will be paid partially. Thats not so bad when bitfinex would make a clear statement about the payments. Instead there is only one single line where all payments are put into. No way to go into detail it seems. Or is there?

And what i really dont like is the following:

I lend an amount of money that would give me X amount of USD at the 0.107% i got. But instead getting X * 0.00107 = Y i get 84% of Y. Thats most probably the really HEFTY fee of 15% bitfinex is taking on swaps. Im not sure why it has to be that much.

But what i really dont like is that bitfinex is stealing my additional profit from users who pay back MY loan earlier. Those people have to pay the fee for the full day. I have to lend those coins out again and have work with it but bitfinex simply is taking that additionally paid fee for themselves. The credit i got clearly says so. And i think thats not ok. Its my money i lend and i have the additional work but i dont have anything from doing so. Its like i lend my money to bitfinex and not to other users. If i would lend my money to bitfinex then they could make such a rule but i lend to other users.

Am i wrong on this or is this unfair? First the high fee of 15% and then i lose completely the additional payments that users paid for my lent money.