A Detailed Look at the Best Crypto Arbitrage Bots in 2024

Crypto arbitrage is the practice of taking advantage of price discrepancies for the same crypto across different exchanges to make a profit. It remains a profitable trading strategy for many traders and market makers despite the significant market evolution in recent years. This article by Finestel focuses on introducing the best crypto arbitrage bots so that you can make a better decision on which bot to utilize.

Key Takeaways

• Crypto arbitrage remains profitable in 2024, with price discrepancies across exchanges still providing opportunities for traders to exploit.
• Crypto arbitrage bots automate the process, making it easier to capitalize on fleeting price differences between exchanges.
• Different types of arbitrage bots exist, including cross-exchange, triangular, DeFi, and spot-futures arbitrage bots, each suited for specific strategies.
• The best crypto arbitrage bots in 2024 include Cryptohopper, Pionex, Coinrule, Bitsgap, and Blackbird.
  • Cryptohopper: Best for traders seeking a user-friendly platform with a wide range of tools and exchanges.
  • Pionex: Best for low-budget traders seeking free, automated arbitrage with minimal fees.
  • Coinrule: Best for traders who like flexibility and customization.
  • Bitsgap: Best for high-volume traders who need advanced tools.
  • Blackbird: Best for developers and tech-savvy users seeking a free, open-source solution.

What Are Crypto Arbitrage Bots?

While the majority of crypto traders still prefer the manual approach, many algo traders and market makers need automated systems to make their strategies work. Crypto arbitrage bots are such automated trading programs.

Crypto arbitrage bots consistently monitor the crypto market to identify arbitrage opportunities. When a chance arises, the bot will quickly work to exploit it and generate a profit from the price differentials by simultaneously buying at a lower price in one exchange and selling at a lower one in the other.

Check out our latest list of the best crypto Telegram bots for 2024.

Why Would You Need the Best Crypto Arbitrage Bots?

If you’re a market maker or algorithmic trader willing to implement an arbitrage strategy, you should use the best crypto arbitrage bot you can find.

The purpose of crypto arbitrage bots is to exploit price discrepancies of the same cryptocurrency across different exchanges. Because such price differences usually diminish quickly, consistently finding and capitalizing on them is not a process that can be done manually.

Moreover, the crypto market has developed astonishingly over the last few years and includes thousands of coins. Monitoring all the pairs on all exchanges at once is not humanly possible.

As a result, algorithmic traders and market makers try to find or create the best crypto arbitrage bots possible, as their profitability heavily relies on the competence of this automated algorithm.

Find the best crypto trading bots in 2024 here.

Types of Crypto Arbitrage Bots

The definition of arbitrage might seem simple. However, there are various methods and strategies that market makers and algo-traders use to profit from arbitrage opportunities. In fact, the definition we presented earlier for the term arbitrage only covers one strategy. Therefore, there should also be different types of crypto arbitrage bots. Here are some of the most popular:

Cross-Exchange Arbitrage Bots

Cross-exchange arbitrage bots exploit price differences for the same coin or token on different exchanges. These bots automatically buy the token where it’s cheaper and sell it on the other exchange where it’s priced higher.

For instance, a Binance arbitrage bot might identify a price gap between Binance and Bybit’s BTC/USDT pair. Bybit arbitrage opportunities are especially popular among traders due to the exchange’s wide range of pairs.

Triangular Arbitrage Bots

On the contrary, triangular arbitrage bots operate within a single exchange and are a quite popular type of intra exchange arbitrage bots. They exploit price differentials between three different pairs. They automatically trade between them in a loop to take advantage of potential imbalances.

DeFi Arbitrage Bots

DeFi arbitrage bots are the third type of crypto arbitrage bots we’ll talk about. They’re designed to exploit price differentials between decentralized exchanges (DEXs) in the DeFi trading ecosystem, Hence the name. Unlike centralized exchanges, DEXs can have more price divergences due to liquidity issues and are, therefore, attractive arbitrage targets. 

Spot-Futures Arbitrage Bots

As the name gives away, spot-futures arbitrage bots capitalize on price differences between the spot market and the futures market for the same coin or token. As a result, they often operate in a single exchange, making them an intra exchange arbitrage bot.

The Best Crypto Arbitrage Bots in 2024

Thanks to the development in both the crypto market and the online trading environment, there are many crypto bots available. However, the list below is composed of the absolute best crypto arbitrage bots in 2024:

Cryptohopper

The Cryptohopper arbitrage bot is our first entry, as it’s arguably the most popular one.  It offers two main types of arbitrage strategies: exchange arbitrage, where the bot identifies price differences between two or more exchanges, and market arbitrage, which takes advantage of price discrepancies within the same exchange across different trading pairs. This makes it ideal for both cross-exchange and intra exchange arbitrage.

Cryptohopper Features

Here are the Cryptohopper Arbitrage bot’s notable features:

• Exchange Arbitrage: The bot scans different exchanges to find price differences between multiple exchanges in real time.
• Market Arbitrage: This is an intra exchange arbitrage feature that basically works as a triangular arbitrage bot. 
• Backtesting and Paper Trading: You can test the Crypohopper arbitrage bots on the platform, either on historical data or in real-time with virtual funds.
• Customizability: You can set the parameters for the bot, such as which exchanges to monitor, profit margins, and trade size.

Cryptohopper Pricing

Cryptohopper offers a tiered pricing model, which is demonstrated in the table below:

As the table above suggests, the Cryptohopper arbitrage bot is only included in the Hero plan, which costs $129 per month (or $107.5 per month, billed annually).

Check out our comprehensive Cryptohopper review for more details.

Pionex

The Pionex arbitrage bot is a useful intra exchange arbitrage bot with 15-50% APR, as the platform claims. It employs a market-neutral strategy, holding positions in both the spot and futures markets to minimize risk while earning from funding rate differences. 

Pionex Features

Let’s take a brief look at the features offered by Pionex:

• Spot-Futures Arbitrage: The bot captures profits by exploiting price differences between the spot price of a token and that of its futures contract.
• Market-Neutral Strategy: The Pionex arbitrage bot protects traders from market volatility by maintaining balanced positions in the spot and futures markets.
• Leverage Options: You can increase potential returns by utilizing leverage up to 3x.
• Low Fees: Pionex charges just 0.05% per transaction for both makers and takers. 

Pionex Pricing

Unlike many platforms, Pionex offers its crypto arbitrage bot for free. However, profits generated using the bot are subject to a 10% performance fee. Moreover, Pionex does not charge any deposit fees, and the withdrawal fees for major cryptocurrencies are quite low.

Coinrule

The Coinrule Arbitrage Bot allows you to leverage pre-built rules or custom strategies to maximize your profits. With an intuitive interface and support for over 10 exchanges, it’s a solid choice for those interested in arbitrage and market making. 

Coinrule Features

Here are the most prominent features of Coinrule:

• Customizable Rules: Users can create their own trading rules based on the “If-This-Then-That” principle.
• Backtesting: You can test your Coinrule arbitrage bot strategies against historical data. 
• Portfolio Management: The platform provides portfolio trackers and sends you real-time notifications via Telegram or SMS.

Read more in our Coinrule review.

Coinrule Pricing

Here is a brief overview of the Coinrule pricing plans and features in each one:

Bitsgap

The Bitsgap arbitrage bot scans the top 10 most popular exchanges and over 10,000 trading pairs in real time to identify arbitrage opportunities. The platform also includes advanced risk management tools, such as stop-loss and take-profit orders, to keep your funds safe. 

Bitsgap Features

Bitsgap offers a variety of features. The primary ones are listed below:

• Arbitrage Scanner: The Bitsgap arbitrage bot uses a scanner to identify price differences across multiple exchanges, also factoring in the exchange fees.
• Cloud-based Trading: The arbitrage crypto bot runs 24/7, taking advantage of market inefficiencies without needing to download or install any software.
• Backtesting and Paper Trading: You can test your strategies using historical data or practice with demo funds.

Bitsgap Pricing

Bitsgap offers three subscription tiers with varying features, which are presented in the table below:

Each plan includes a 7-day free trial, so you can first test the platform before paying a penny.

Blackbird

Our last entry is quite different from the others we mentioned thus far. The Blackbird Bitcoin arbitrage bot is an open-source one. Therefore, it’s free. It’s a market-neutral arbitrage bot that supports popular exchanges like Bitfinex, Bitstamp, Kraken, and Gemini.

Features

Let’s take a look at the Blackbird arbitrage bot for those interested in Bitcoin arbitrage for free:

• Market Neutrality: By shorting Bitcoin on one exchange and going long on another, market volatility doesn’t affect the Blackbird arbitrage bot’s returns.
• No Fund Transfers: The bot conducts all trades in parallel across exchanges. So, there’s no need to move assets between exchanges.
• Open-Source and Free: The primary feature of the Blackbird arbitrage bot is that it’s available for free and is open-source.

Pricing

Since Blackbird is an open-source project, it is entirely free to use. However, you must manually set up the bot and configure your API keys for the supported exchanges.

Best Crypto Arbitrage Bots Infographic

Conclusion

Crypto arbitrage is still a profitable strategy, as my algo traders and market makers are making a consistent income from it. In this article, we focused on crypto arbitrage bots by introducing their types and some of the best crypto arbitrage bots in 2024. With the whole arbitrage requiring constant monitoring of the market and lightning-fast executions, it’s obvious that you’ll need the best crypto arbitrage bots possible to improve your chances for profitability. 

FAQ

Is Crypto Arbitrage Still Possible in 2024?

Yes, crypto arbitrage is still possible, as price discrepancies between exchanges continue to exist due to varying liquidity and market inefficiencies.

Can You Build a Crypto Arbitrage Bot Using Python?

Yes, you can build a Python crypto arbitrage bot. In fact, many developers prefer to create with Python for additional customization options. 

Are Crypto Arbitrage Bots Available on Telegram?

Yes, you can find specialized crypto arbitrage bot telegram groups that provide updates and community support on the internet.