Calculate price & spread for Market Making strategy

Calculate price & spread for Market Making strategy

I am developing a CryptoCurrency Market Maker bot. Now, I have succeeded in fetching programmatically:

  • the last 100 bids ordered from higher to lower (Price * Quantity) ;
  • the last 100 asks ordered from lower to higher ;

Now, how can I calculate the suitable price and spread. What indicators to take into consideration to estimate a fair price and bid/ask spread. I am looking for some practical hints and or/formulas.

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