What time of the day are lenders most active?
Using the Prosper API, I have compiled all the bid data ranging from 4/2/06 - 11/3/07 and counted the number of bids in hourly increments. All types of bids (withdrawn, winning, outbid, and partially participating) were included to obtain a real sense of the raw bidding activity. You can hover over the points on the line graph to view the # of bids for each point. Please not that the times are given in Pacific Standard Time.
The spike in activity between 2:00pm - 3:00pm PST corresponds with the timing of the funding for funds transfers. Once a lender receives the funding, he or she will usually take immediate action by manually bidding, utilizing the standing orders, or using the portfolio plans. Borrowers should definitely be ending their listings between 2:00pm -8:00pm PST in order to take advantage of this bidding activity.
If you have any requests regarding statistics that you would like to see, please let me know. If it’s feasible, I will try my best to make it happen.
You may also be interested in reading the following posts:
- The Top 1000 5-letter Words in the Description of Funded Listings vs. Non-Funded Listings
- Which day of the week are lenders most active in bidding?
- Which day of the week should I end my listing?
- How long should I have my listing for?
- Loan calculator with statistics for all listings from the last past year
- Does the amount of content in the Description of my Listing really matter?
- How do I create a successful listing on Prosper?
Glossary for types of bids:
- Winning - A bid that is winning in the full dollar amount
- Withdrawn - A bid that was withdrawn by the lender
- Outbid - A bid that was outbid by another bid due to a lower lender rate
- Partially participating - A bid that is partially outbid by another bid
I just stumbled across your blog. I love this post. I was wondering the same thing the other day… Now, I have stats! I hope you start posting again.
Kyle