I'm wondering if I could use the kelpbot to manage the spread of a token. Token isn't listed on the out of box exchanges. Is there a way to use kelpbot to check spread and, depending on the value, make a small order within a percentage of spread?
Yes, this is possible. Please take a look at the Walkthrough Guides on how to do this. There are a few options and you can play around with it on the testnet to see how you want to configure the bot to work for you before you deploy to production.
Each walkthrough has an associated sample configuration file to get you started with that setup in only a few clicks.