Binance, the world’s largest crypto exchange has announced the introduction of two new services for spot and futures services. The leading exchange finally listened to the requests of its users by launching new products to cater to growing demand.
Over 120,000 active trading strategies are presently available on Binance’s Trading Bots Marketplace, and the company is constantly improving the range of automated trading strategy tools it provides to consumers. Binancians (users of Binance) currently enjoy Grid Trading for Spot and Futures, Rebalancing Bots, Auto-Invest, and Dollar-Cost Averaging (DCA) among other automated trading bots.
Binance Releases New Services to Unlock Expert Strategies
In a recent announcement dated May 15, the crypto exchange giant Binance said that it has launched spot copy trading to simplify trading by allowing users to automatically copy the trading strategies applied by more experienced spot market traders. Additionally, copy traders can enjoy access to different strategies including risk management, and educational growth opportunities. What is more, lead traders can make extra money, receiving a 10% profit share from traders after sharing their expertise. Also, they can earn another 10% from trading fees.
Recall that in October 2023, Binance launched futures copy trading, making advanced trading strategies available to a wider audience. Following the success of this, the exchange found it necessary to replicate this feature for spot trading. With spot copy trading, the concept of copy trading is expanded, moving beyond futures and making it easier for its global users to imitate the strategies of lead traders.
Meanwhile, users no longer have to manually execute two separate spot and perpetual futures contracts thanks to Binance’s first trading bot, Funding Rate Arbitrage Bot, which automates a delta-neutral spot and futures arbitrage method. By initiating a perpetual futures position and hedging it with an opposite position of the same size on the same symbol in the spot market, the Arbitrage Bot seeks to enable traders to profit on funding fees.
Once the user enters the parameters of their strategy, the Arbitrage Bot automatically executes both spot and futures trades simultaneously, saving them the trouble of managing two trade orders on separate trading interfaces. This is the main advantage of the Arbitrage Bot over manually implementing an arbitrage strategy. Users may easily track the performance of the Arbitrage Bot strategies by managing them independently in their trading bot wallet.
While the spot copy trading is available across all Binance platforms, the funding rate arbitrage bot is only available on the Binance website and will released on the Binance App on May 30.
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