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The Market Making Expert quotes both sides of a perpetual futures market and earns the spread. It doesn’t place orders itself. Each tick it reads the market, picks settings for the pmm_mister controller, and deploys or retunes a Hummingbot bot that runs that controller. This guide runs its PMM Mister Operator loop on one pair you choose.
The Market Making Expert's agent page with the PMM Mister Operator loop selected

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What you need

1

Condor connected to a Hummingbot API server

Follow Installing. In the Workspace the server selector in the top bar shows a green dot when the server is reachable.
2

Exchange keys for a perpetual account

Add them in Settings → Keys and Wallets → Add API Key, and start with a small balance. See Exchange Credentials. The Workspace doesn’t list testnet connectors such as binance_perpetual_testnet; those can only be added through the Hummingbot API directly.
3

A model the agent can run on

The agent’s model is shown next to its name on the agent page; click it to change it. See LLM Integration.
The loop deploys the pmm_mister controller, which ships with the agent. If it isn’t on your server yet, the agent uploads it on its first tick. The agent page’s Controllers tab shows whether the server’s copy matches.
pmm_mister quotes in one-way position mode. If the bot’s logs show a “Position mode mismatch” warning, switch the account to one-way mode on the exchange.

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How the loop works

Every 120 seconds by default, the agent:
  1. Reads the market. It runs two routines: market_analyzer classifies the regime (trending, ranging or volatile) from 5m, 15m and 4h candles, and mm_dashboard reports inventory, the bot’s position and its PnL.
  2. Decides. It chooses one of DEPLOY, UPDATE, HOLD or STOP, and picks spreads, inventory band and take-profit for the regime.
  3. Acts. It writes a pmm_mister config and deploys a bot named after the base asset (for example SOL-mm), or updates the running bot’s config.
Every bot deploy must declare a loss cap (max_global_drawdown_quote). The bot stops itself when its losses reach it. The risk gate refuses deploys without one.

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Start the loop

1

Open the agent

Open /agents/market_making_expert in the Workspace. From the chat, you can also open the Agent panel for Market Making Expert and click Workspace.
2

Pick the loop

In the loop selector under the agent’s name, choose PMM Mister Operator.
Always pick a loop before starting. If the agent is started without one (for example “start your loop” in chat), Condor creates a generic Default loop that doesn’t use either of the shipped playbooks.
3

Click Start and fill in the dialog

The Start New Session dialog with Loop mode selected
Set Max Position no higher than the loss you would accept. The loop passes Max Position to the bot as its loss cap, and the default (600) is larger than the default capital (500). Setting Total Amount Quote and Max Position to the same small number, such as 100, keeps both bounded.
4

Do a Dry Run

Choose Dry Run and click Run Dry Test. The agent runs one tick in which every action is refused, then stops. Open the Runs tab to read its decision.
The Runs tab showing a dry run's regime read and the deploy it would make
A dry run also refuses routines, so market_analyzer and mm_dashboard don’t run. The agent improvises a market read with other tools. Use the dry run to check that the agent, server and exchange are wired up, not to judge the strategy.
5

Run Once, then Loop

Run Once runs a single live tick. It can deploy a real bot, so use small capital. When that tick looks right, start again with Loop.Tick Resume after Condor restarts if the loop should start again automatically after Condor restarts. It starts a fresh session; it doesn’t resume the old one.

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Watch it run

The agent page has four tabs: Tick errors, risk-limit blocks and shutdown alerts appear in the notification bell, and in Telegram if you use it. Actions the risk gate refused are recorded in the session journal under Runs. The bot itself appears on the Bots page.

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Stop it

Stop ends the loop but leaves the bot running and trading. Nothing manages it until you start this loop again, when the next session adopts the bot. To stop trading, also stop the bot: on the Bots page, open the bot and stop it.

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Settings the agent tunes

These are the main pmm_mister fields the agent sets on each deploy or update. You can ask the agent to use specific values, or edit the loop’s instructions in the Playbook tab.
The agent’s config playbook suggests min_skew values of 1.5 and 2.0 for its balanced and conservative profiles. In pmm_mister those values multiply every order by 1.5× or 2×. If you see them in a proposed config, ask the agent to use a value of 1.0 or lower.
The agent’s second loop, HIP-3 MM Operator, farms volume on Hyperliquid’s HIP-3 perpetuals issued by xyz. It picks its own market each time it reselects, so you don’t name a pair in the Trading Context.
  • It needs a hyperliquid_perpetual account. In Settings → Keys and Wallets, click Add API Key and choose Connect Hyperliquid.
  • It ticks every 300 seconds and reselects the market every 30 ticks.
  • HIP-3 pairs use an uppercase issuer prefix, for example XYZ:SPCX-USD.

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From Telegram

Telegram has no Start button for loops. Ask the agent instead:
  1. Send /agent, tap Talk to and choose Market Making Expert.
  2. Ask it to start its loop, naming the loop, pair and capital. For example: “Start the pmm_mister_operator loop for SOL-USDT on binance_perpetual with 100 USDT.”
  3. Approve the confirmation Condor shows before the loop starts.
To stop the loop, ask the agent to stop it. /stop only cancels the reply the agent is writing; it doesn’t stop a running loop.

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