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Quick start

This guide will walk you through logging in, configuring your first instruments, and running your first arbitrage scan.

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Login to Primary API

1

Launch ChuchoBot

Double-click ChuchoBot.exe to start the application. The Primary Login window will appear.Login window
2

Enter your Primary API base URL

In the Primary API Base URL field, enter your broker’s API endpoint.Example for Bull Market Brokers:
https://api.bull.xoms.com.ar
See the installation guide for a complete list of broker URLs.
3

Enter your credentials

Use the same username and password you use to log in to the Matriz platform.
  • Username: Your Matriz account username
  • Password: Your Matriz account password
4

Click login

Click the “Login” button to authenticate. If successful, the main ChuchoBot window will open and establish a WebSocket connection for real-time data.
ChuchoBot will save your credentials locally for future sessions. You only need to enter them once.

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Configure instruments to monitor

Before you can detect arbitrage opportunities, you need to tell ChuchoBot which instruments to monitor.
1

Open configuration menu

In the main window, click Configuración (Configuration) in the menu bar.Configuration menu
2

Select instruments to monitor

Click Instrumentos a monitorear (Instruments to monitor).
3

Add instrument tickers

In the dialog that appears, add one instrument ticker per line.Instruments to monitorExample instruments:
GGAL
YPFD
AL30
GD30
SPY
QQQ
Add any combination of stocks, bonds, CEDEARs, or letters that you want to monitor for arbitrage opportunities.
4

Save configuration

Click OK to save your instrument list. ChuchoBot will immediately begin receiving real-time market data for these instruments.

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Verify connection status

Check the connection status indicator in the main window:
  • Green WiFi icon + “CONNECTED”: Successfully receiving real-time data
  • Red WiFi icon + “DISCONNECTED”: Connection lost or market is closed
Disconnected status
If you see “DISCONNECTED” during market hours, try closing and restarting ChuchoBot to reestablish the WebSocket connection.
The connection indicator will show “DISCONNECTED” before market open (10:30 AM) and after market close (5:00 PM). This is normal behavior.

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Run your first arbitrage scan

Now that ChuchoBot is connected and monitoring instruments, you can start scanning for arbitrage opportunities.

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Settlement term arbitrage

The settlement term arbitrage scanner detects profit opportunities between different settlement terms (CI, 24hs, 48hs).
1

Open arbitrage scanner

In the menu bar, click Arbitrajes de Plazos (Settlement Term Arbitrage).
2

View detected opportunities

The scanner displays all detected arbitrage opportunities in real-time:Settlement arbitrage scannerKey columns:
  • Instrument: The ticker symbol
  • 1 Venta: First leg settlement term (sell)
  • 2 Compra: Second leg settlement term (buy)
  • P&L: Estimated profit/loss including fees and commissions
  • TNA: Annualized return rate
3

Filter results (optional)

Use the filter options:
  • Ver sólo arbitrajes según instrumentos en cartera: Show only arbitrages for instruments you hold
  • Ver sólo arbitrajes con profit: Show only profitable opportunities (P&L > 0)
4

View arbitrage details

Double-click any row to open the detailed view:Arbitrage detailIn this window, you can:
  • Adjust nominal amounts
  • Modify buy/sell prices
  • Change commission rates
  • See recalculated P&L in real-time

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Understanding arbitrage operations

When sell settlement < buy settlement (requires holding the instrument): Example: Sell NVDA in CI, buy NVDA in 24hs
  1. Sell the instrument in the shorter term (CI)
  2. Buy the instrument in the longer term (24hs)
  3. Place the proceeds from step 1 in caucion (short-term lending)
When sell settlement > buy settlement (requires capital or caucion): Example: Sell SPY in 24hs, buy SPY in CI
  1. Buy the instrument in the shorter term (CI)
  2. Sell the instrument in the longer term (24hs)
  3. Take caucion to cover the purchase in step 1
ChuchoBot calculates and displays opportunities but does not execute trades. You must manually place orders through your broker’s trading platform.

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Configuration

Optimize ChuchoBot for your trading setup by configuring these settings:

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Market fees (Derechos de Mercado)

ChuchoBot has pre-configured market fees:
  • Stocks and CEDEARs: 0.08%
  • Treasury letters: 0.001%
  • Bonds: 0.01% (default for unlisted instruments)
  • Commission per operation: 0.10% (default, configurable in arbitrage window)
These rates are used to calculate accurate P&L. You can modify commission rates in the arbitrage scanner window.

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Caucion commission rates

To get accurate P&L calculations for arbitrage operations:
  1. Open the settlement term arbitrage scanner
  2. Configure Comisión Tomadora (TNA) - commission for taking caucion (borrowing)
  3. Configure Comisión Colocadora (TNA) - commission for placing caucion (lending)
These values depend on your broker’s rates.

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Configure D/C ticker exceptions

Some instruments don’t follow the standard naming convention for dollar MEP (D) and CCL (C) variants. Example: For letter X20Y4, the MEP ticker is XY4D (not X20Y4D)
1

Open exceptions configuration

Click Configuración > Excepciones de instrumentos $;D;C
2

Add exception

Enter the exception using this format:
{Ticker in pesos};{MEP ticker};{CCL ticker}
Example:
X20Y4;XY4D;XY4C
3

Save

Click OK to save. ChuchoBot will now correctly identify the D/C variants for this instrument.

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Calculate dollar MEP and CCL

ChuchoBot can show you the best instruments for buying or selling dollars through MEP or CCL.

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Dollar MEP

  1. In the menu bar, click Dolar > MEP
  2. Choose Compra (buy) or Venta (sell)
  3. View instruments sorted by best exchange rate
Dollar MEP scanner

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Dollar CCL

  1. In the menu bar, click Dolar > CCL
  2. Choose Compra (buy) or Venta (sell)
  3. View instruments sorted by best exchange rate
Dollar CCL scanner

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Analyze bond ratios

Use the ratio analyzer to identify bond rotation opportunities (e.g., GD30/AL30).
1

Open ratio trade launcher

Click Arbitrajes de Plazos > Seleccionar instrumento y PlazosRatio launcher
2

Select instruments

Choose:
  1. First instrument (e.g., GD30)
  2. Second instrument (e.g., AL30)
  3. Settlement term for both
3

View ratio analysis

The ratio window shows:
  • Current ratio between the two instruments
  • Nominal amounts needed for equal exposure
  • Estimated P&L for rotation strategy
Ratio trading strategy: When the ratio is historically high, sell the expensive instrument and buy the cheap one with equal monetary value. When the ratio reverts, close both positions for a profit.

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Next steps

Now that you’re familiar with ChuchoBot’s basic features:
  • Monitor the arbitrage scanner during market hours to identify opportunities
  • Configure market fees and caucion rates specific to your broker
  • Experiment with different instrument combinations
  • Review the P&L calculations to understand all costs involved
Remember: ChuchoBot is an analysis tool. Always verify opportunities and place orders manually through your broker’s platform.

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