Top Long and Short Crypto Trading Bots 2024

The crypto market is known for its volatility. To capitalize on constant price fluctuations, one must trade on both bullish and bearish markets (long and short crypto trading). However, this can be complex for many traders.

This is where trading bots can help.

In this guide, we examine the best long and short crypto trading bots for 2024. We also discuss the advantages of crypto bots and how to choose the right one for your trading goals.

Top 10 Best Crypto Trading Platforms for Shorts and Long: In-Depth Reviews & Comparisons

We’ll now provide more information on the best bots for trading crypto in rising and falling markets.

1. Algobot – Overall Best Long and Short Crypto Trading Bot

If you’re seeking a fully automated crypto trading bot, Algobot is an excellent choice. It works for all skill sets and requirements, regardless of your trading experience. Furthermore, this algo trading bot will look for long and short crypto trading opportunities and execute orders accordingly. Simply connect the bot to your preferred crypto exchange, and Algobot will handle the rest.

In essence, you don’t have to choose the strategy or do any market analysis. However, you can still define the risk parameters. Algobot offers risk settings at three levels – conservative, balanced, and aggressive. Moreover, Algobot can be used for spot trading, futures, and crypto CFDs. Therefore, it can automate trading in bullish and bearish markets.

For experienced traders, Algobot is also available in semi-automated and manual modes. With these options, you can receive signals via Algobot and execute them manually. Alternatively, you can also link Algobot to TradingView to receive alerts. The bot is also equipped to trade different time frames.

Notably, Algobot has a win rate of 81% since its inception. The bot can set take-profit and stop-loss orders to manage risk effectively. And regarding pricing, users can subscribe to the Premium or Ultimate plans to access automated bots. Each plan costs $59.99 and $109.99 a month, respectively.

2. Binance – Trade Crypto Futures With Grid and VP Bots

Binance offers a suite of automated trading tools for its users. Futures trading bots are the main highlight. Thus, these long and short crypto trading bots operate based on preset parameters. Binance offers three types of futures strategies to choose from.

Furthermore, the most popular are the Grid bots, which let you capitalize on sideways markets. These bots capture potentially profitable trades in both upward and downward trends. Binance Grid bots also facilitate leveraged crypto trading.

Alternatively, Binance lets you split large orders into small ones using its TWAP and VP bots for delivery futures. Aside from futures, Binance trading bots also support perpetual contracts. There are also Grid and DCA bots available for spot trading.

Binance futures bots support hundreds of markets. You can trade crypto against stablecoins such as USDT and USDC. Or settle contracts in the underlying coin. There are no additional fees when using Binance bots. Therefore, you only need to have a Binance account and pay the standard commission.

3. Crypto.com – Create Auto and Manual Bots for Long and Short Crypto Trading

Crypto.com users can create their own bots for long and short crypto trading. The platform lets you create bots in two ways – automated and manual. With the automated option, you only have to pick a predefined strategy, crypto pair, and investment amount. This is ideal for beginners. Here, you can choose between Grid and TWAP strategies to trade in bullish and bearish markets.

Moreover, if you’re a professional trader, you can manually set up bots to fine-tune your strategies. For instance, if you want to manually set up a Grid bot, you can specify the price range and the number of grids. The manual method also lets you control the stop-loss and take-profit levels.

At Crypto.com, both futures and perpetual contracts are available. This covers more than 100 coins, including Bitcoin, Ethereum, Litecoin, Cardano, and Solana. As with Binance, Crypto.com doesn’t charge extra fees when using the bots. Simply cover the standard commission.

4. TradeSanta – Enhance Profitability With Adaptive Extra Orders

TradeSanta offers crypto bots that work in both spot and futures markets. After signing up, you can choose whether to go for a long or short bot. You can also deploy both of these bots simultaneously. In turn, TradeSanta will automatically deploy the chosen strategy based on market conditions.

A standout feature of TradeSanta is the ‘Extra Orders’. If the market fluctuations don’t support your initial strategy, the bot automatically places extra positions. For example, if you initially expected the price to rise and it falls instead, the bot will buy more coins at the lower price. Thus, this lowers the average entry price and adapts the market movement required to secure a profit.

In terms of customization, you can specify the crypto pair, take-profit, and stop-loss levels. It’s also possible to build a bot using a custom strategy from scratch. TradeSanta lets you access unlimited futures bots at $90 a month. Cheaper plans are available, but these don’t support crypto derivatives. There is also a free trial on offer.

5. Pionex – Customizable Futures Grid Bot For Dozens of Crypto Pairs

Pionex facilitates automated trading via delivery futures and perpetual contracts. Its built-in bot uses the Grid strategy to trade crypto autonomously. Setting up the bot is simple. To get started, choose the desired crypto pair from dozens of supported options.

If needed, you can also customize the Grid numbers and risk settings. You can then decide whether to go long or short and the total investment amount. Alternatively, automated trading with signals can be implemented. Pionex also supports leveraged automated trading for crypto derivatives.

If you’re unsure which strategy is right, try the PionexGPT to answer any questions. You can also utilize this AI tool to backtest and automate the bot. Pionex bots can be accessed by opening an account with the exchange. This entitles you to use features such as futures PnL management and demo trading.

6. CryptoHero – Marketplace Offering Access to Dozens of Futures Bots

CryptoHero lets you access bots developed by experienced crypto traders. These bots cater to both spot and futures markets. All available bots come with easy setup instructions, and there is no need to have any coding knowledge. And if you create a successful bot, you can lease it to earn a passive income too.

CryptoHero also has a dedicated platform named ‘CFDHero’ for CFD trading bots. You can also find bots with advanced strategies, including rising and falling trends. Furthermore, the platform facilitates strategy backtesting. Users can also deploy bots on an in-built paper exchange before testing in a live market.

CryptoHero also features a trading terminal. You can switch between multiple exchanges directly from a single account and trade from each. There is also support for TradingView signals and charts. To use futures grid bots on CryptoHero, you must pay $29.99 a month.

7. KuCoin – Choose a Crypto Derivative Bot Based on Daily Profits 

KuCoin is another leading crypto trading platform catering to bot users. It has a wide range of preset bots usable for futures trading. Within each preset strategy, you can find user-customized bots. Crucially, you can use the same parameters deployed by another user or adjust them as needed.

KuCoin showcases the best-performing bots based on the profits generated, crypto pairs, and the runtime. It shows the specific trading parameters in great detail. This includes the entry price, order quantity, profit rate, and more. Additionally, you can further customize user-generated bots to your liking.

KuCoin is great for those who know their way around a trading dashboard. Its interface offers easy access to indicators, drawing tools, charts, and more. In terms of pricing, users only need to cover standard trading commissions – meaning bots are free to use.

8. HaasOnline – Create Automated Long and Short Crypto Trading Strategies Using HaasScript

HaasOnline is also one of the best crypto trading platforms for short and long bots. It features a variety of preset bots with integrated strategies. This includes grid trading, market making, order bots, scalping, inter-exchange, and more. Several bots can be used for crypto derivatives such as delivery futures and perpetual contracts.

Moreover, automated positions can be leveraged to increase profit margins. For professionals, HaasScript is available to create manual trading strategies. With this feature, you get access to technical indicators and other advanced helper functions. You can also subscribe to crypto trading signals from other platforms.

The AI trading bots offered by HaasOnline are hosted on TradeServer Cloud. There are three subscription models available at $7.50, $40.83, and $82.50 a month. You also get 16% off when paying annually. HaasOnline bots are compatible with most reputable crypto exchanges.

9. Phemex – Go Long and Short on Crypto Using Grid or Martingale Strategies

Phemex is a leading crypto derivatives trading platform. It comes with thousands of prebuilt bots featuring Grid and Martingale strategies. With one click, you can copy the bots deployed by Phemex’s top-performing traders. The bots can be filtered based on the runtime, crypto pair, and ROI.

Should you need more command over positions, you can toggle into the bot builder mode. This lets you define the strategy and parameters to customize the bot. Phemex also offers up to 50x leverage when using automated strategies.

Another notable aspect is that trading bots are available for low-liquidity crypto coins, such as Popcat and Chromia. Phemex doesn’t charge any upfront fees for bots. But you will have to pay trading commissions, which are 0.06% for takers and 0.01% for makers. Fees can be reduced by holding PT coins, the native token of Phemex.

10. GunBot – Automate Derivatives Trading on Binance, ByBit, OKX, and Bitget 

GunBot has developed trading bots that are compatible with popular crypto exchanges. Those opting for long and short crypto trading can opt for Binance, ByBit, OKX, or Bitget. This covers delivery futures trading and perpetual contracts.

There are over 20 different preset bots available on Gunbot. Each of these can also be customized. Tech-savvy traders can also code their own trading bot This is ideal for automating proven trading strategies.

The platform also lets you execute trades based on TradingView signals. Gunbot has a subscription pricing model, starting at $29 a month to access one exchange. The price increases with the number of required trading platforms. There are also lifetime packages available.

What is Long and Short in Crypto Trading?

Before diving into the advanced features of long and short crypto trading, let’s look at the basics. At its core, crypto trading involves buying and selling digital tokens. Unlike traditional financial assets, the crypto markets don’t have restricted trading times.

This offers traders 24/7 opportunities. However, it also leads to high volatility. With such price fluctuations, traders must be equipped to profit from rising and falling markets.

Long trading in crypto

A trader opens a long position when they expect the market to move upward. In this case, you buy a crypto and hope to sell it at a higher price. Let us offer an example.

• Suppose you believe that Bitcoin’s price will rise from its current level of $50,000.
• You decide to buy 1 BTC token at this price.
• If your prediction is correct and the value of Bitcoin increases to $55,000, you can sell your BTC at this higher price.

Your profit from a long position would be the difference between the buying and the selling price. In this example, the profit would be $5,000.

The duration of long positions varies between strategies. While some traders close their long positions within minutes or hours, others choose to hold their crypto for years.

Short Trading in Crypto

In contrast, a short position is opened when the trader predicts that the market will move downward. Here, the aim is to sell crypto first and then repurchase it at a cheaper cost. The profit would be the price difference.

For example:

• Let’s say, you anticipate that the price of Ethereum will drop from its current level of $3,000.
• You decide to sell 10 Ethereum tokens immediately at $3,000 each.
• So, the total amount risked in the trade would be $30,000 worth of Ethereum.
• If the price of Ethereum then falls to $2,500, you can buy back the 10 ETH for $25,000.
• Your profit would be the price difference, which is $5,000.

To short-sell crypto, you can’t use the traditional spot markets. On the contrary, you’ll need to use complex derivative products. These typically ‘track’ real-time prices, meaning long and short positions are supported.

The most common derivative instruments for crypto are futures contracts, options, and CFDs. These products allow you to buy and sell crypto without owning it. When looking for long and short crypto trading bots, you must find platforms that support these instruments.

How Do Long and Short Crypto Trading Bots Work?

Now that you know what is long and short in crypto trading, let’s consider how to automate this process. This is where bots come in. In simple terms, bots can automatically execute trades in both bullish and bearish markets.

These crypto trading bots are designed based on predefined criteria. Bots are also equipped to scan the market for trading opportunities. When the bot spots a trading window based on the preset strategies, it will place a trade accordingly.

So, what are the advantages of long and short crypto trading bots?

Let’s examine them more closely:

• Constant market monitoring – Trading bots operate 24/7, continuously assessing the market for favorable conditions. This means traders don’t need to manually look for opportunities.
• Fast executions – Bots can execute trades significantly faster than human traders and react instantly to market changes. This is paramount in the highly volatile crypto space.
• Emotion-free decision-making – By using long and short crypto trading bots, traders can ensure that their strategies are consistently applied. This removes emotional decision-making and human error.
• Preset strategies – Trading crypto derivatives such as options and futures can be very complex. The best trading bots come with predefined strategies. This aspect makes derivative trading more accessible to inexperienced traders.
• Multitasking – Bots can manage multiple trading pairs simultaneously, which can be challenging for a human trader. This multitasking ability facilitates better diversification and capitalization of various market opportunities.

Moreover, traders can customize bots to suit their specific trading preferences and strategies. Whether it’s setting particular indicators, choosing time frames, or defining risk levels, bots can be tailored to fit individual needs.

Financial Instruments for Long and Short Crypto Trading 

We’ll now explore the most popular trading instruments supported by long and short bots.

Crypto Options

Crypto options are financial instruments that let you buy or sell a digital token at a predetermined price at an expiry date. This predefined rate is called the ‘Strike Price’ of an option. In other words, crypto options are derivatives; they only represent an underlying crypto.

This lets you go both long and short in the market easily. Moreover, with options – there is no obligation to carry out the trade on expiry.

There are two types of crypto options available:

• A Call option lets you buy a crypto token at the strike price.
• A Put option allows you to sell a crypto token at the strike price.

This way, you can profit from the rising and falling prices of crypto.

Here’s an example of how it works with Call options.

• If you expect the market to move bullish, you’ll buy a Call option.
• Let’s suppose the strike price of this Call option is $50,000.
• Meaning, you expect the price of the crypto to go above $50,000.
• You buy this Call option at a ‘premium’ of $1,000.
• Suppose the options expire at $60,000. This means you’ve made $10,000, less the $1,000 premium.
• However, if the options expire below $50,000, you simply lose the $1,000 premium.

Similarly, you buy crypto Put options if the market is expected to trend downward.

• In Put options, you want the market value of the crypto to fall below the strike price.
• Let’s say you’re expecting the price of the crypto to go below $50,000.
• You buy this Put option for a premium of $1,000.
• The options expire at $35,000, meaning a $15,000 profit less the $1,000 premium.
• Conversely, if the options expire above $50,000, you lose the $1,000 premium.

Crypto options are usually sold in lots. The price of crypto options is determined by various factors, not just the market movements. This includes the strike price, the time to expiry, and volatility.

The main advantage of options is that you’ll lose only the premium if the market goes against you. For instance, buying 1 whole BTC directly would cost you tens of thousands of dollars. On the other hand, you can buy BTC options with a small fraction of the position size.

This way, the capital required is much lower. However, you can still gain from the price fluctuations of Bitcoin, even with a small upfront allocation.

Trading crypto options manually can be very complex. However, with long and short crypto trading bots, these tools can automatically locate the best strike price and premium. The bot will also open and close multiple positions while managing risks.

Crypto Futures 

Crypto futures are another type of derivative that lets you buy or sell the underlying digital token at a future date. However, unlike options, you’re obligated to carry out the trade on expiry. This increases the risk spectrum.

• When opening a long position, you buy a crypto futures contract – anticipating the price of the coin to go higher.
• When opening a short position, you sell a crypto futures contract – expecting a decline in the coin’s price.

Crypto futures can be cost-effective, as exchanges require only a margin amount. However, this means that the position is overly leveraged, which can amplify potential profits and losses.

Crypto Perpetual Contracts 

Similar to crypto futures, many exchanges support perpetual contracts. Here, the key is that there is no expiration date. Put otherwise, you can hold your position open indefinitely. However, traders must pay funding rates, which are based on the position size and amount of leverage used.

Crypto perpetual contracts have a different funding mechanism. The funding price stays close to the spot value of the underlying crypto.

Exchanges usually settle this every eight hours. Once the positions become profitable, you can either withdraw your gains or continue holding. As with options and futures, perpetual contracts are also used for bullish and bearish markets.

Crypto CFDs

Contracts-for-Differences or CFDs are derivatives that let you trade digital currencies without owing the actual tokens. Instead, CFDs only track the price of the underlying asset.

Like other crypto derivatives, you can trade CFDs on bullish and bearish markets. Therefore, CFDs are also widely used for long and short crypto trading. Additionally, crypto CFD trades are often leveraged.

Meaning, you only need to cover a small percentage of the position value. The remaining amount can be borrowed from the trading platform. As always, leveraged profits will be magnified, but so will the losses.

How to Choose the Right Long and Short Crypto Trading Platform

Many crypto trading platforms support long and short bots. Therefore, finding the right one for your goals can be challenging.

Here is an overview of what to consider:

• Ease-of-Use – Some bots are better designed for beginners. Regardless of your trading level, make sure the platform offers a suitable user experience.
• Customization – Ensure the bot allows you to customize its settings. You should be able to set your own buy and sell parameters, stop-loss, and take-profit levels. This is crucial even if the bot is completely automated.
• Performance Tracking: The best crypto trading bots should offer performance tracking and backtesting features. This offers insight into how well the bot performs and makes adjustments as needed.
• Cost – Consider the cost of the bot. Some bots charge a monthly subscription fee. Conversely, if you use bots provided by crypto exchanges, you often only need to cover trading commissions.

Understanding what is long and short in crypto trading is crucial for picking the right bots. This will help you find the right strategies for your chosen crypto derivatives.

Crucially, always ensure that you have proper crypto risk management techniques in place. To do this effectively, you will need to monitor the performance of the bot regularly.

Long and Short Crypto Trading Bots – Understanding the Risks 

There is a misconception that long and short crypto trading bots are infallible. They aren’t. While these bots can be convenient and efficient, they also carry risks.

Here are some factors to consider:

• Profits aren’t guaranteed – No bot can assure 100% success while trading. Your positions can be affected by market conditions. This is largely true for crypto markets with notorious volatility.
• Preset strategies can fail – Long and short crypto trading bots execute positions based on preset conditions. However, if an unforeseen event arises, the bot can fail to place profitable trades.
• Missed opportunities – If the crypto price is outside the bot’s predefined range, it might not place positions. Meaning, you can miss out on opportunities unless the parameters are changed.

For those reasons, it’s imperative to use long and short trading bots wisely. You should regularly monitor market conditions and have a solid risk management plan.

Conclusion

Undeniably, long and short crypto trading bots are game changers. They help you capitalize on the high volatility of the crypto market. Moreover, you can also manage trades with more precision and less emotional influence.

We’re confident that Algobot is the overall best option in the market. You can use Algobot to trade multiple crypto derivatives and CFDs passively. It’s also possible to adjust the risk settings to your preference, such as the funds to trade and whether to go long or short.

FAQs

What is long and short crypto trading?

In long crypto trading, you buy a digital token expecting its price to increase. Short trading involves selling crypto, expecting the price to decrease. Both strategies can be used to capitalize on volatile crypto prices.

What are the best long and short crypto trading bots?

Those searching for the best crypto bots can consider Algobot. This risk-averse bot can trade in rising and falling markets in any time frame.

Are automated crypto bots profitable? 

Automated crypto bots can be profitable if well-designed algorithms and strategies are used and market conditions are favorable. However, they carry risks and require ongoing monitoring and updates to maintain profitability.