Bybit is a very popular cryptocurrency exchange in 2024. It serves traders from numerous countries all around the globe. The platform’s user-friendly interface and innovative trading tools make it a favorite for many crypto traders. While Bybit offers various trading tools and features, in this article, we focus on introducing the best Bybit trading bots. In case you are wondering what automated trading solutions you can utilize as a Bybit trader, this article is for you.
We begin by presenting the best Bybit bots provided natively by the exchange. After offering a comprehensive explanation of how each trading bot works and who it is for, we move on to introduce some third-party trading bots by other businesses for Bybit traders. We guide you in choosing the most suitable bots and automation tools according to your personal preferences.
Best Bybit Trading Bots: An Exhaustive Analysis
Bybit is known for its ease of use and seamless user interaction, as well as offering useful trading tools. Trading bots are one of the primary categories in Bybit’s trading tools and features. In this section, we describe the best Bybit bots.
Bybit Spot Grid Bot
The Bybit spot grid bot is a trading tool designed for cryptocurrency markets that implement the grid trading strategy. Spot grid trading involves placing buy and sell orders above and below a specific price to create a grid of orders. The spot grid bot automates the process of placing and executing these orders within a set price range. It is particularly effective in volatile markets like most cryptos.
This bot allows traders to set a price range and divide it into a specified number of grids. The bot then automatically places buy and sell orders at various points in this range. As long as the price of the underlying crypto fluctuates within this range, traders can generate passive profits. Furthermore, traders can set the bot up manually or choose an artificial intelligence strategy.
The benefits associated with using the Bybit spot grid bot include lower entry points, automated trade executions, emotionless trading, mechanical risk management, and, most importantly, the potential for passive income generation. This bot is suitable for traders who look for short-term automated trading strategies during periods of market volatility.
Pros:
- Works well in sideways markets
- Bot executions eliminate human errors and emotional decision-making
Cons:
- Subpar performance in trending market conditions
- Sudden volatility can lead to quick losses
Bybit Futures Grid Bot
The Bybit futures grid bot, similar to the spot grid bot, operates on an automated trading strategy based on grid trading. It focuses on maximizing profits through leveraged long and short positions. As already mentioned, grid bots are generally suited for volatile markets as they capitalize on price fluctuations.
The bot operates in three primary modes: long, short, and neutral. In the long mode, the bot enters long positions in rising markets and takes profits by closing positions on higher grid points as the price increases. Conversely, the short mode is designed for bearish markets and works quite similarly. Finally, the neutral mode places both long and short orders based on market price movements.
The advantages of utilizing the Bybit futures grid bot are similar to the spot grid bot. However, with the added presence of leverage, traders can increase their profit potential. Meanwhile, keep in mind that leverage also increases risk exposure. Therefore, we recommend short-term traders with more experience and an appetite for risk.
Pros:
- Consistent profit generation in market consolidations
- Emotionless executions
- Offers leverage to magnify profits
Cons:
- Not optimized for trending market conditions
- High volatility can result in heavy liquidations
Bybit Futures Martingale Bot
The Bybit futures Martingale bot utilizes the traditional Martingale strategy. It automatically adjusts the position size by placing additional orders when the market price rises or drops. The goal is to recover losses and secure sizeable profits quickly. This process continues until a predefined profit target is reached and the take profit order is executed.
After each loss, the Bybit futures Martingale bot automatically doubles down on the investment to increase position size. This process is repeated until the profit target is achieved. The bot then begins a new cycle unless manually terminated or the position is liquidated.
This bot offers several advantages, such as rapid profit accumulation, simplicity, and magnified gains due to up to 50x leverage. On the other hand, using this Bybit bot also carries substantial risks, particularly due to high leverage. As a result, while this bot is best for long-term traders, it is not suitable for risk-averse ones.
Pros:
- Removes the need for constant monitoring and investment calculations
- Mechanical decision-making removes the occurrence of human errors
- Leverage and the Martingale strategy offer the possibility of huge returns
Cons:
- The Martingale strategy can result in heavy losses in extended trends
- Leverage increases risk significantly
ByBit DCA Bot
The final entry on the list of the best Bybit trading bots is the platform’s DCA bot. The Bybit futures DCA bot is an automated trading tool that is useful for incremental position building. It operates on the basis of the Dollar-Cost Averaging investment strategy. This strategy involves making identical investments at regular intervals within a specified time period.
Bybit’s DCA bot allows traders to set parameters such as the investment frequency, fixed investment amount, and maximum investment amount. The bot then automatically executes buy orders based on these parameters. This bot is particularly beneficial for long-term investors, especially the ones who seek to reduce the impact of short-term market volatility. Investors can create a DCA bot with one coin or a portfolio of up to five coins on Bybit. Therefore, it is a versatile tool for a diversified investment approach.
By using the Bybit DCA bot, traders can average their entry price over time. As a result, they can mitigate the impact of market volatility, a considerable issue for crypto investors. The bot provides simplicity and automation, which makes it accessible to all traders and investors. Yet, remember that DCA does not guarantee profits.
Pros:
- No need for constant market analysis
- No room for emotional trading
- Suitable for long-term investing
Cons:
- Not attractive for short-term traders
- You might go through huge drawdowns during bear markets
Best Third-Party Developed Trading Bots For Bybit
While Bybit natively offers various trading bots, some third-party businesses have also developed trading automation tools and bots for Bybit users. In the following sections, we introduce the best Bybit trading bots by other crypto trading platforms.
Finestel
Finestel, a trading technology provider based in Canada, offers a range of solutions for cryptocurrency traders, including those on Bybit. Our services include a copy trading bot, portfolio tracking tools, Telegram bots, Tradingview webhook, and an advanced white-label Bybit copy trading service.
The copy trading bot enables Bybit traders to onboard investors who can replicate their automated trading strategies. The white-label copy trading service, tailored for professional traders and bot developers, provides extensive customization options—moreover, sophisticated performance evaluation features and portfolio management tools, and most significantly, a fully personalizable domain is included in Finestel’s white-label offer.
Finestel’s pricing structure is very transparent. It caters to various preferences, expertise levels, and amounts of assets under management. The plans are described below.
| Free | Starter
$19/mo (or $13.3/mo billed annually) |
Pro
$49/mo (or $34.1/mo billed annually) |
Business
$199/mo (or $139.1/mo billed annually) |
Enterprise
Contact sales for pricing |
| – 3 exchange accounts
– Portfolio tracker |
– 3 exchange accounts
– Portfolio tracker – Copy trading – 20 orders/min |
– 10 exchange accounts
– Portfolio tracker – Copy trading – 20 orders/min |
– 100 exchange accounts
– Portfolio tracker – Dedicated support – Free white-label setup – Copy trading – 40 orders/min |
– Unlimited exchange accounts
– MLM Software – Trading algorithm development – Portfolio tracker – Dedicated support – Free white-label setup – Copy trading – Unlimited rate limit |
Finestel User Reviews (Trustpilot Rating: 4.6/5)
Finestel consistently receives glowing reviews from its users. They highlight the platform’s exceptional customer support, dedication to customization, and reliability. Users appreciate Finestel’s flexibility in creating white-label solutions for copy trading. It allows traders to manage multiple accounts effortlessly.
The responsive support team, available 24/7, receives widespread praise for its quick and comprehensive assistance. Overall, Finestel stands out as a reliable and innovative solution for crypto asset management and developing trading bots and solutions.
3Commas
3Commas is a popular crypto trading automation platform. It provides a user-friendly interface for Bybit traders who are looking for trading bots and automation. With the 3Commas management interface and OKX API keys, users can create their personalized algorithms and automated trading strategies.
The 3Commas platform offers diverse trading bots, including long, short, and composite (multi-pair) bots. Bybit traders can conduct backtesting for their bots using historical market data directly within the 3Commas platform. Additionally, users can leverage pre-developed bots and algorithms shared by the community to increase the diversity of their trading portfolio.
3Commas Bybit solutions are offered in three different plans. We present these plans, their features, and their prices below.
| Beginner
€5/mo (€4/mo billed annually) |
Pro
€49/mo (€37/mo billed annually) |
Expert
€79/mo (€59/mo billed annually) |
| – 10 Active SmartTrades
– 2 Running signal bots – 2 Running grid bots – 5 Single-pair DCA bots – 25 Active DCA deals |
– 50 Active SmartTrades
– 10 Running signal bots – 10 Running grid bots – 50 running DCA bots – 500 Active DCA deals – Multi-pair DCA |
– Unlimited active SmartTrades
– 50 Running signal bots – 50 Running grid bots – 250 running DCA bots – 2500 Active DCA deals – Multi-pair DCA |
3Commas User Reviews (Trustpilot Rating: 4/5)
Users have varied opinions about 3Commas, sharing both positive and negative experiences. Some users praise the platform for its user-friendly interface, comprehensive trading tools, and efficient customer service. They appreciate the automation features, such as trading bots, that make trading more accessible and less stressful. However, there are complaints about technical issues, such as difficulties connecting to exchanges and laggy bots, leading to financial losses for some users.
The support team seems proactive in addressing issues, providing guides, and responding to users promptly. Despite occasional challenges, many users express satisfaction with 3Commas, citing it as a valuable tool for crypto trading automation and portfolio management.
WunderTrading
Another top trading technology platform is WunderTrading. They offer various trading automation services and crypto trading bots to Bybit users. WunderTrading’s user-friendly interface and top-notch automation solutions have made it very popular among crypto traders and bot developers.
To use WunderTrading Bybit bots, you can subscribe to one of the five available plans. Each plan is briefly described below.
| Free | Starter
$4.95/mo (or $3.47/mo billed annually) |
Basic
$19.95/mo (or $13.97/mo billed annually) |
Pro
$39.95/mo (or $27.97/mo billed annually) |
Premium
$89.95/mo (or $62.97/mo billed annually) |
| – 1 API/exchange
– Trading terminal – Portfolio tracker – Copy trading – Paper trading |
Everything in Free plan plus:
– 1 Active signal bot – 1 API/exchange – Futures spreads and arbitrage – DCA trading terminal – 1 Active AI bot – 1 Active grid bot |
Everything in Starter plan plus:
– 5 Active signal bot – 2 API/exchange – Multiple take profits – Multi-pair bots – 1 Active AI bot – 5 Active grid bots |
Everything in Basic plan plus:
– 15 Active signal bot – 5 API/exchange – Swing trade – 3 Active AI bot – 10 Active grid bots |
Everything in Pro plan plus:
– Unlimited active bots – Unlimited API/exchange – 10 Active AI bot – 100 Active grid bots |
WunderTrading User Reviews (Trustpilot Rating: 4.1/5)
WunderTrading also received mixed reviews from users. Users appreciate the platform’s clear and comprehensible interface, user-friendly features, and the convenience of managing multiple accounts in one place. Some users express satisfaction with the trading bots and find the options interesting.
Meanwhile, there are notable concerns raised, particularly regarding customer support. Several users report poor responsiveness, generic or delayed responses, and issues with API disconnections without notice. Technical problems, such as order execution issues and poor log systems, are also mentioned. Despite these challenges, others praise the platform for its speed, execution, and ability to analyze trading strategies.
Cryptohopper
A popular cryptocurrency trading bot developer, Cryptohopper, enables traders to automate their strategies on Bybit. The Cryptohopper platform offers various features like market-making and arbitrage bots. Bybit users can leverage this bot by setting parameters like stop-losses and take-profit orders and letting the bots do the rest.
Four subscription plans are offered by Cryptohopper. Traders can select the plan of their choice according to personal preferences and trading goals.
| Pioneer
Free |
Explorer
$29/mo (or $24.16/mo billed annually) |
Adventurer
$69/mo (or $57.50/mo billed annually) |
Hero
$129/mo (or $107.50/mo billed annually) |
| Unlimited copy bots plus:
– 20 open positions/exchange – Portfolio management – Portfolio tracker – Free manual trading |
Everything in Pioneer plus:
– 80 open positions/exchange – 10 min strategy interval checks – 15 active bots – 2 event-based triggers – Backtesting – Strategy designer – Paper trading – Trading signals |
Everything in Explorer plus:
– 200 open positions/exchange – 5 min strategy interval checks – 50 active bots – 5 event-based triggers – Backtesting – Strategy designer – Paper trading – Trading signals |
Everything in Adventurer plus:
– 500 open positions/exchange – 2 min strategy interval checks – 75 active bots – AI strategies and designer – Market making and arbitrage – Extra technical indicators |
Cryptohopper User Reviews (Trustpilot Rating: 4/5)
Cryptohopper’s reviews are also mixed on Trustpilot. Positive comments highlight the platform’s excellent customer service, with users praising the quick and helpful responses from support agents. The ease of use, automated trading features, and wide range of strategies available in the marketplace are also appreciated.
However, negative reviews raise concerns about subscription overcharges, difficulties in canceling subscriptions, and issues with recurring payments even after account deletion. Some users report frustration with the learning curve, while others express disappointment in the strategies available in the marketplace.
Conclusion
This article described the best Bybit trading bots. As we did in the best Kucoin trading bots article, here we introduced the best Bybit trading bots, their advantages, risks, and how they work. We also mentioned who each plan is best for. In the final section of the article, we presented a list of the best Bybit bots by third-party businesses and crypto trading platforms.
Bybit traders who look for sophisticated trading bots or methods to attract investor capital may not be able to satisfy their needs with the platform’s native bots. Automated solutions of platforms like Finestel come to the rescue. Finestel enables users to utilize professional trading tools, cutting-edge copy trading and bots, and a fully customizable white-label solution. In case you are a Bybit trader interested in running a crypto asset management business, Finestel has got you covered.
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