Deploy a Smart Contract for Only $0.50
39sThe surprisingly low cost to deploy a smart contract is a shocking fact that grabs viewers' attention and makes them want to learn more.
▶ Play ClipAI Summary
This video is a step-by-step tutorial on setting up a Python-based Ethereum arbitrage trading bot built with AI. The bot scans mempools for price discrepancies in stablecoins and executes profitable trades. The creator demonstrates deploying the bot on a cloud server, creating a smart contract, funding it with ETH, and running it to generate profit.
Chapters
[00:02]
Bot Function Overview
The bot scans Ethereum mempools for stablecoin price differences and executes arbitrage trades to profit from the spread.
[00:15]
Tutorial Start & Free Guide
The tutorial uses a free guide linked in the description for all steps and necessary links.
[00:27]
Wallet Setup
Use MetaMask or other compatible wallets like Trust Wallet or Phantom Wallet to interact with the bot.
[00:53]
Cloud Hosting Setup
Use a cloud-hosted server (referenced in the guide) to host and run the bot.
[01:07]
Create Bot File
Create a new file with .py extension (e.g., bot.py) in the file explorer tab.
[01:23]
Paste Python Code
Copy the bot code from the guide and paste it into the code editor.
[01:43]
Compile and Build
Hit compile and build to download dependencies and compile the bot.
[02:10]
Deploy Bot Container
Deploy the bot container on the cloud using the deploy tab.
[02:23]
Smart Contract Requirement
The bot needs an Ethereum smart contract. You can paste an existing address or deploy a new one.
[02:36]
Deploy Smart Contract
Deploying a new smart contract costs around $0.50. Use the load smart contract function.
[02:49]
Verify Contract on Etherscan
Check the deployed contract on Etherscan to confirm ownership and successful deployment.
[03:01]
Fund Bot Contract
Copy the smart contract address and deposit ETH to fund the bot. Recommended at least 1 ETH.
[03:45]
Check Liquidity Balance
Use the update liquidity balance function to verify deposited funds appear in total liquidity.
[04:00]
Start Bot
Use the start bot function to begin trading. Initialization may take a few seconds.
[04:36]
Let Bot Run for 24 Hours
The bot is left running for 24 hours to search for profitable trades.
[04:53]
Check Results
After 24 hours, the bot generated profit, though results depend on network congestion and gas fees.
[05:08]
Stop Bot to Withdraw
Use the stop bot function before withdrawing liquidity.
[05:30]
Withdraw Liquidity
Use the withdraw liquidity function, which can take up to 30 seconds.
[06:07]
Tutorial Conclusion
The tutorial ends with a reminder to check the free guide in the description for more details.
The Ethereum arbitrage bot can generate profit, but success depends on network congestion and gas fees. The tutorial provides a complete setup, though results may vary.
Mentioned in this Video
Tutorial Checklist
Study Flashcards (8)
What does the bot scan for to execute trades?
easy
Click to reveal answer
What does the bot scan for to execute trades?
easy
Click to reveal answer
Price differences on stablecoins mempools.
00:02
Which wallets are recommended to interact with the bot?
easy
Click to reveal answer
Which wallets are recommended to interact with the bot?
easy
Click to reveal answer
MetaMask, Trust Wallet, or Phantom Wallet.
00:27
How much does it cost to deploy a smart contract on Ethereum mainnet?
medium
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How much does it cost to deploy a smart contract on Ethereum mainnet?
medium
Click to reveal answer
Around 50 cents ($0.50).
02:36
What is the recommended minimum ETH to fund the bot contract?
medium
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What is the recommended minimum ETH to fund the bot contract?
medium
Click to reveal answer
At least 1 ETH.
03:15
Which function is used to check the total liquidity balance?
hard
Click to reveal answer
Which function is used to check the total liquidity balance?
hard
Click to reveal answer
Update liquidity balance function.
03:45
How long did the creator let the bot run before checking results?
easy
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How long did the creator let the bot run before checking results?
easy
Click to reveal answer
24 hours.
04:36
What factors affect the bot's profit according to the video?
medium
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What factors affect the bot's profit according to the video?
medium
Click to reveal answer
Network congestion and gas fees.
04:53
What must be done before withdrawing liquidity from the bot?
medium
Click to reveal answer
What must be done before withdrawing liquidity from the bot?
medium
Click to reveal answer
Stop the bot using the stop bot function.
05:08
💡 Key Takeaways
💡
Arbitrage Bot Mechanism
Explains the core profit mechanism using mempool scanning for price discrepancies.
00:02
📊
Low Smart Contract Deployment Cost
Highlights that deploying a contract costs only $0.50, making it accessible.
02:36
🔧
Funding Recommendation
Advises at least 1 ETH to avoid burning profits on gas fees and ensure liquidity.
03:15
📊
Profit Generation After 24 Hours
Demonstrates real results, though dependent on network conditions.
04:53Full Transcript
[00:02] we can spot some profitable transactions it made on the Ethereum network. So, essentially, when the bot notices price differences on stablecoins mempools, it runs arbitrage trades to profit from the spread. If you [music] like this kind of
[00:15] video, please leave a like. And now, let's begin the tutorial. Hey everyone. In this video, we're going to set up this Python trading bot I built with AI. For this, I'd suggest checking out the free guide I put
[00:27] covers every step and link you'll need to get the bot running. To get started, you can use MetaMask to interact with your bot, just like I'm doing here, or you can pick another compatible browser
[00:39] wallet, such as Trust Wallet or Phantom Wallet. You can also follow this built-in browser inside your mobile wallet app. linked in the description. It's built for developers who want to build and run
[00:53] projects on cloud-hosted servers, and we'll be using it to host our bot. The first thing we need to do here is create our bot file. So, go to the files explorer tab, [music] click the new file button, and give it a .py extension.
[01:07] I'll call mine bot.py, but you can use any name. Next, grab the Python bot code from the guide in the description >> [music] >> and paste it into the code editor.
[01:23] tab and hit the compile and build button, which will download the button, which will download the dependencies and compile everything.
[01:43] once the build is successful, head over to the deploy tab. environment button [music] to deploy your bot container on the cloud.
[02:10] >> Nice. The deployment is now finished. The console has also popped up with all start interacting with it. At this point, the bot needs a smart contract on Ethereum before it can make any transactions. If you've already got one,
[02:23] just paste its address into the loaded smart contract field. But since this is a fresh deployment, we'll need to deploy the smart contract on Ethereum mainnet. So let's make one by clicking the load smart contract function. You'll find
[02:36] that deploying a contract is pretty cheap these days. It usually costs around 50 cents. Great. Now we can confirm that our smart contract has been deployed successfully by checking it on the Etherscan link. Here, [music] we can
[02:49] see our smart contract is deployed on the Ethereum network, and we can also confirm that we're the actual owner of our bot smart contract. Heading back to the website, the next step is to fund our bot smart contract with enough
[03:01] liquidity to trade. So to start, copy your smart contract address and deposit enough ether into it. Now I'm going to deposit some ether into our contract to fund the bot. My recommendation is to use at least one
[03:15] ether, which makes sure your bot doesn't burn through profits on gas fees and has enough liquidity to trade. Keep in mind, too, the more you put in, the more profit your bot can earn from the spread between two [music] transactions.
[03:45] use the update liquidity balance function to check the total liquidity function to check the total liquidity balance. deposited is now showing up in the total liquidity balance. Now, let's get it
[04:00] going by using the start bot function. [music]
[04:19] It might take a few seconds for the bot to start up and initialize.
[04:36] I'll let it keep running on its own to search for profitable trades over the next 24 hours, and then we'll come back to check the results. to check the results. >> [music]
[04:53] >> We're back after letting the bot run on its own for 24 hours. generated a fair amount of profit. This probably comes down to how congested the Ethereum network is along with gas fees, so it really depends on the stable coins
[05:08] mempools. Now, to withdraw the liquidity, we'll first need to stop the bot. To do that, we'll use the stop bot function and wait for it to finish.
[05:30] liquidity function, which can take up to 30 seconds. So let's wait.
[06:07] now back in our wallet. And that's pretty much the whole tutorial, guys. If check out the free guide I left in the description. Please drop a comment, hit subscribe, and I'll see you in the next video.