Crypto arbitrage scanners allow users to profit from price differences across different cryptocurrency exchanges. Crypto arbitrage scanners enable traders to see what platforms are best for buying a particular cryptocurrency and where it should be sold to maximize returns.
In essence, crypto arbitrage is a trading strategy that takes advantage of price discrepancies for a particular cryptocurrency across multiple crypto exchanges. The concept of arbitrage is based on the principle of buying an asset at a lower price in one market and selling it at a higher price in another market, thus making a profit from the price differential.
Here are the best crypto arbitrage scanners for trading digital assets:
- Coinrule – The best crypto arbitrage trading platform overall
- Cryptohopper – AI-powered arbitrage bot trading platform
- Bitsgap – Bot trading templates for leveraging arbitrage opportunities across all major exchanges
- 3Commas – Crypto arbitrage scanner and trading platform with a native app marketplace
- Trality – Automated trading platform powered by Binance
- Pionex – Crypto exchange with powerful trading bot features
The 6 best crypto arbitrage scanners: Top arbitrage tools for trading with an edge in 2023
Listed below, you will find six of the best crypto arbitrage finder, trader, and scanner platforms. All of the tools support arbitrage trading and other advanced options, such as trading with leverage, stop loss and take profit orders, risk management tools, and more.
1. Coinrule – The best crypto arbitrage trading platform overall
Coinrule is a beginner-friendly automated platform designed to simplify and streamline cryptocurrency trading. It allows users to create and execute trading strategies without the need for coding or advanced technical knowledge. Traders can dozens of pre-made template strategies or construct their own base on the parameters they set. Coinrule operates on various cryptocurrency exchanges and supports a wide range of trading pairs.
With Coinrule, users can define trading rules and conditions using a visual interface, enabling them to implement their strategies easily. These rules are based on simple “if this, then that” logic, where users can specify certain events or market conditions that trigger specific actions, such as buying, selling, or executing other trade orders. In addition to regular orders, users can use leverage trading crypto strategies as well to increase their exposure to the markets.
Key features:
- Create rules based on popular indicators (RSI, SMA, etc.)
- Up to 50 live trading rules
- Unlimited template trading strategies (only in the “Pro” plan)
- Up to 10,000 executions per rule
- Leverage strategies
- Market and limit orders
| Starting Price | $29.99/month |
|---|---|
| Free Trial | Yes |
| Mobile Apps | Android |
| Supported Exchanges | Binance, KuCoin, Coinbase, Kraken, BitMEX, Crypto.com, OKX, etc. |
2. Cryptohopper – AI-powered arbitrage bot trading platform
Cryptohopper is an AI-powered trading bot for crypto markets, using algorithms and advanced strategies to trade on behalf of users. By connecting to cryptocurrency exchanges, it can access and trade with users’ accounts. Cryptohopper helps traders improve efficiency and profitability by automating various trading processes. Users can customize the bot by setting parameters like trading pairs, buy/sell signals, and stop-loss levels. They can also use templates
The bot continuously monitors the market and executes trades based on these settings. It can employ strategies like technical analysis and utilize signals from third-party sources. It can also conduct a triangular arbitrage scanner analysis and use Binance’s arbitrage scanner data. Cryptohopper provides a web-based interface for users to monitor trades, access historical data, and adjust settings. It also offers backtesting to evaluate strategies using past market data.
Key features:
- Scan markets with up to 75 trading bots
- Manage all exchange accounts from a unified terminal
- Advanced price trailing features
- AI-powered trading bot
- Copy trading and trading templates
- Dollar-cost averaging, market-making, short selling, and arbitrage options
| Starting Price | $16.58/month |
|---|---|
| Free Trial | Yes, 7-day |
| Mobile Apps | Android and iOS |
| Supported Exchanges | Binance, KuCoin, Coinbase, Kraken, Huobi, Bybit, Crypto.com, OKX, etc. |
3. Bitsgap – Bot trading templates for leveraging arbitrage opportunities across all major exchanges
Bitsgap is a trading bot and platform designed for cryptocurrency markets. It automates trades for users by connecting to their exchange accounts through API keys. The platform aims to simplify trading and enhance strategies. Users can customize parameters such as trading pairs, indicators, and stop-loss levels.
The bot continuously monitors the market and executes trades based on these settings. Bitsgap provides a unified interface for accessing multiple exchanges, real-time market data, and performance tracking. It also offers arbitrage opportunities by scanning for price discrepancies among more than 30 digital assets. Additionally, users can test their strategies using the demo trading mode.
Key features:
- Build GRID and DCA strategies with trading bots
- Smart orders to control risk-to-reward ratio
- Customizable Stop Loss, Take Profit, Trailing Take Profit, and OCO orders
- Supports limit, market, and scaled orders
- A trading terminal that connects to all popular exchanges
- Pre-made trading bot strategies
| Starting Price | $20/month |
|---|---|
| Free Trial | Yes, 7-day |
| Mobile Apps | Web App |
| Supported Exchanges | Binance, KuCoin, Coinbase, Kraken, Huobi, Bybit, Crypto.com, OKX, etc. |
4. 3Commas – Crypto arbitrage scanner and trading platform with a native app marketplace
3Commas is a popular trading platform among crypto arbitrage traders. It offers a range of tools and features to assist users in trading, managing portfolios, and implementing strategies that hinge on finding favorable exchange rates. Users can configure automated trading bots with specific parameters – like the amount of leverage to use – or use the intuitive SmartTrade terminal for manual trading (keep in mind that using leverage in crypto is high risk and could lead to significant losses).
Additionally, there is a “Copy Trading” feature to follow successful traders and a “Demo” account to practice trades without risking real money. The platform provides portfolio management tools, customizable alerts, and backtesting capabilities for strategy evaluation, which can help identify triangular arbitrage opportunities. In addition, 3Commas allows developers to leverage the service’s infrastructure to publish their own apps in the 3Commas marketplace.
Key features:
- Smart trading terminals (SmartTrade and Terminal features)
- Options bot, HODL bot, and GRID bot with trading presets
- Easily integrate signals into your bots
- Copy trading with seamless bot integration
- Advanced analytics and charting tools
- 3Commas Apps marketplace featuring user-deployed trading apps
| Starting Price | €22/month |
|---|---|
| Free Trial | Yes, Forever |
| Mobile Apps | Android and iOS |
| Supported Exchanges | Binance, KuCoin, Coinbase, Kraken, Huobi, Bybit, Crypto.com, OKX, etc. |
5. Trality – Automated trading platform powered by Binance
Trality is a bot trading platform that features several unique features, including Trality Wallet and Trality Code Editor. Trality Wallet is one of the best crypto arbitrage scanners in the industry, allowing users to trade on margin (by borrowing funds from a third party) or by spot trading. The Trality platform is powered by Binance, which means that fees (starting as low as 0.01%) are set by arguably the best cryptocurrency exchange in the industry.
Thanks to the Trality Code Editor feature, those familiar with the Python programming language can code their bots, which introduces additional options for margin trading users. The Trality platform is cloud-based, with all the trades and trading strategies encrypted, which means you don’t have to worry about the security of your trading account. In addition, users can choose to rent their trading bots on the Trality Marketplace to earn extra income.
Key features:
- Create and rent trading bots via the Trality marketplace
- Trality Wallet allows users to trade hundreds of crypto assets
- Trality Code Editor allows users to code their own bots
- Earn passive income by monetizing your Trality bots
- Unlimited backtests
- Increase your buying power with up to 3x leverage ratio
| Starting Price | €9.99/month |
|---|---|
| Free Trial | Yes (up to €5,000 trading volume) |
| Mobile Apps | Web App |
| Supported Exchanges | Binance, Bitpanda, Coinbase, Kraken, Binance.US |
6. Pionex – Crypto exchange with powerful trading bot features
Pionex is a cryptocurrency exchange that focuses on providing its users with powerful automated trading features. Pionex users can buy, sell, and trade crypto assets in their “physical” form in the spot markets, or use future markets to speculate on future prices. In addition, users can earn passive income by staking Ethereum and using other interest-bearing services.
The two primary bot options on Pionex are the DCA Bot, which can be very helpful for beginners investors, and the Rebalancing Bot, which allows users to create their own index and set trading parameters. In addition, there is a myriad of other trading bots available on Pionex, including the leverage and margin GRID bots, which pits Pionex against some of the top crypto margin exchanges in the digital asset space.
Key features:
- Spot and Futures trading options
- Bot, Manual, and Swap trading modes
- Leverage and Margin Grid bots (with Reverse and Leveraged Reverse grid options available)
- Stop-loss, take profit, and trail orders all within a single trade
- Users can deposit both crypto and fiat funds
- Premade bots for sideways, bullish, and bearish market scenarios
| Starting Price | Free |
| Free Trial | / |
| Mobile Apps | Android and iOS |
| Supported Exchanges | Pionex |
How do cryptocurrency arbitrage scanners work
Cryptocurrency arbitrage scanners identify price discrepancies between digital assets across multiple trading platforms. They monitor prices in real-time and allow traders and investors to make use of arbitrage opportunities that may arise.
In addition to monitoring the price of assets across different exchanges, arbitrage scanners can calculate the potential profit (a profit that could be made by executing an arbitrage trade) and assess risks (such as the cost of transaction fees). In addition, certain arbitrage scanners, such as those presented in our article, allow investors to react to price changes and leverage the power of preprogrammed bots to execute trades.
Types of crypto arbitrage opportunities
There are several types of arbitrage opportunities that traders can take advantage of in the cryptocurrency space, including:
- Exchange Arbitrage: This occurs when there is a price difference for the same cryptocurrency on different exchanges. Traders can buy the asset at a lower price on one exchange and sell it at a higher price on another, profiting from the price disparity.
- Cross-Border Arbitrage: Involves taking advantage of price differences between cryptocurrencies on different exchanges in different countries. Traders can exploit variations in supply and demand, regulatory environments, and liquidity to profit from cross-border arbitrage.
- Triangular Arbitrage: This strategy involves exploiting price discrepancies between three different cryptocurrencies. Traders can execute a series of trades across multiple exchanges to profit from the price imbalance. Making use of triangular arbitrage is virtually impossible without the use of crypto arbitrage scanners and automated trading tools.
- Statistical Arbitrage: This approach involves using statistical models and algorithms to identify patterns and anomalies in cryptocurrency prices. Traders aim to profit from the expected convergence of prices based on historical data and statistical analysis.
- Inter-exchange Arbitrage: Involves taking advantage of price differences between the same cryptocurrency listed on multiple exchanges. Traders can buy the asset at a lower price on one exchange and sell it at a higher price on another, capitalizing on the price differential.
- Risk Arbitrage: This type of arbitrage involves exploiting price discrepancies resulting from events such as airdrops, hard forks, or other market events. Traders can take advantage of the price movement caused by these events to generate profits.
It’s important to note that crypto arbitrage opportunities can be time-sensitive, require quick execution, and carry risks. Since traders must react quickly if they want to profit from arbitrage opportunities, they often rely on crypto arbitrage finder services and automated arbitrage trading bots – this allows them to react within moments and take advantage of premade trading orders that can be executed without human input.
The bottom line: Traders looking to benefit from arbitrage opportunities in the crypto sector have plenty of options
By leveraging advanced algorithms and comprehensive market monitoring, the top crypto arbitrage scanners empower traders to stay ahead of the game and capitalize on fleeting price differences. They enable efficient analysis of multiple exchanges simultaneously, saving time and effort for traders.
It’s important to note that arbitrage trading carries inherent risks, such as market volatility, transaction fees, and withdrawal limits. However, with the right arbitrage scanner in your arsenal, the chances of success by identifying and capitalizing on profitable arbitrage opportunities increase drastically.
If you want to learn more about investing in digital assets, you can check our ultimate guide on cryptocurrency investing or read the comprehensive guide on how to invest in Bitcoin.
Source: https://coincodex.com/article/27241/crypto-arbitrage-scanner/