Pricing

The Pricing Endpoint provides real-time streaming data for the pricing of tokens on Bebop PMM RFQ. This data is delivered over a WebSocket connection, allowing for efficient and low-latency access.

Access to pricing endpoint must be authenticated. Please reach out to us for access.

Endpoints

Chain	Websocket URL
Arbitrum	wss://api.bebop.xyz/pmm/arbitrum/v3/pricing?format=protobuf
Avalanche	wss://api.bebop.xyz/pmm/avalanche/v3/pricing?format=protobuf
Base	wss://api.bebop.xyz/pmm/base/v3/pricing?format=protobuf
BNB Chain	wss://api.bebop.xyz/pmm/bsc/v3/pricing?format=protobuf
Ethereum	wss://api.bebop.xyz/pmm/ethereum/v3/pricing?format=protobuf
HyperEVM	wss://api.bebop.xyz/pmm/hyperevm/v3/pricing?format=protobuf
Optimism	wss://api.bebop.xyz/pmm/optimism/v3/pricing?format=protobuf
Polygon	wss://api.bebop.xyz/pmm/polygon/v3/pricing?format=protobuf

Only 1 connection is allowed per chain.

Formats

You have the option to consume pricing under 2 formats. format=json or format=protobuf

JSON format pricing is streamed infrequently (every 3s) and frequency may be reduced in the future. It is HIGHLY recommended to use protobufs instead.

Protobufs are a wire format that allows highly efficient exchange of large data. It should be the preferred way of consuming pricing because you will:

• Receive updates faster - < 1s

• Need to download less data reducing your infrastructure costs

Implementing protobufs

syntax = "proto3";

package bebop;

message PriceUpdate {
  optional bytes base = 1;
  optional bytes quote = 2;
  optional uint64 last_update_ts = 3;
  repeated float bids = 4 [packed=true];
  repeated float asks = 5 [packed=true];
}

message BebopPricingUpdate {
  repeated PriceUpdate pairs = 1;
}

Use the following proto file to generate your preferred language classes.

Some tips:

• base and quote address fields are encoded in raw bytes and need to be parsed to string if needed.

• Bids and asks are packed into an array of floats. You can deconstruct it into price, size pairs as such:

  def to_pairs(array: list[float]) -> list[tuple[float, float]]:
      return [(array[i], array[i + 1]) for i in range(0, len(array), 2)]

Authentication

Authentication is required to connect to the pricing websocket. It is required in the form of a name and Authorization header. Supply these when connecting to the websocket:

wscat -c wss://api.bebop.xyz/pmm/ethereum/v3/pricing \
-H name:myname \
-H Authorization:xxxx-xxxxxxxxx-xxxxxx-xxxxxx

Stream

Upon successful connection, you will automatically start receiving updates for all available pairs.

• The streamed books for a pair include an aggregate of all market makers available on the Bebop platform.

• Levels indicate the quantity and price available. They are ordered by price and mutually exclusive.

• Prices derived from levels are indicative, executable prices are set at the time of quote.

Use the quote endpoint to receive a fixed quote

To retrieve a quote that can be executed independently of Bebop see Self Execute Order

All supported tokens are quoted against USDC (or alternatively another asset) and keyed by contract address: <contract_address>/<usdc_contract_address>

{
  "0x111111111117dC0aa78b770fA6A738034120C302/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48": {
    "last_update_ts": 1701713197.6878347,
    "bids": [
      [0.3662120542374637, 272.7291214881094],
      [0.36617475352201256, 1363.645607440547]
    ],
    "asks": [
      [0.3671971903961104, 272.7291214881094],
      [0.36723449111185014, 1363.645607440547]
    ]
  },
  "0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48": {
    "last_update_ts": 1701713197.6878488,
    "bids": [
      [98.13757660883493, 1.017729577636548],
      [98.12758075594644, 5.088647888182741]
    ],
    "asks": []
  }
}

Makers may stream an empty array for bids or asks when they lack inventory, have excess inventory, or due to compliance reasons.

Response Format

Property	Type	Description
last_updated_ts	float	The time in unix when this pair was last updated.
bids	Array<[price, quantity]>	A list of mutually exclusive bid levels
asks	Array<[price, quantity]>	A list of mutually exclusive ask levels

Interpreting Price Levels

The price level should be considered individually and indicate the amounts of tokens that can be bought or sold at the respective price.

For example, for token ZZZ you see a bid of 5 for a size of 1,000 USDC, and a bid of 4 for a size of 10,000 USDC. This means that you can sell a total of 1,000*5 + 10,0000*4 = 45,000 worth of USDC.

Calculating Quotes

Since all pairs are quoted in USDC (or another single asset), you need to calculate an indicative quote through the levels streamed.

In other words, to convert from AAA -> BBB:

1. Sell AAA for USDC, filling through [AAA/USDC].bids

2. Sell USDC for BBB, filling through [BBB/USDC].asks

Note: quotes calculated using levels are estimates. When retrieving a quote using the API, different results may be provided depending on time of quote, size, among other factors.