Bybit launches AI-powered engine, Position Builder tool
Singapore-based cryptocurrency exchange Bybit has launched a new AI-powered engine that provides personalized trading recommendations and strategies to users based on their unique trading habits and preferences.
Dubbed ‘Tools Discovery,” the new tool uses machine learning algorithms to analyze market data and identify potential trading opportunities. Traders can customize their strategies and receive alerts when specific trading conditions are met. By analyzing back tested data, the algorithm can suggest strategies that respond to current market conditions, taking the emotion out of trading and enabling users to make data-driven decisions tailored to their unique profile.
Tools Discovery also provides a range of advanced tools, including backtesting and simulated trading, to help traders refine their strategies and improve trading performance. It can also recommend one of Bybit’s trading products including Copy Trading, Dual Asset, Futures Grid Bot, Spot Grid Bot, DCA Bot, and Liquidity Mining, according to the user’s risk profile. Users can then copy the strategies straight away or add them to “My Watchlist” to test their performance over a two-month period.
Commenting on this launch Bill Xing, head of financial products at Bybit, said: “We understand how difficult it can be for beginner traders or even experienced traders who want to try something new. That’s why we built our Tools Discovery AI — it makes it easier to focus on the type of trading that suits each user’s unique requirements.”
“We believe that everyone should have access to the best tools as part of our mission to democratize access to financial opportunities in the digital economy. Tools Discovery gives all users access to personalized product and strategy recommendations so they can easily explore different trading strategies, find new ideas, and benefit from Bybit’s next-level opportunities,” he added.
Meanwhile, Bybit rolled out another product that allows clients to build portfolios using a full range of derivative products and trading strategies, suitable for both professionals and non-professionals.
The Bybit Position Builder provides smart strategy data for futures, perpetuals, and options contracts based on liquidity and price trends to help traders make advantageous decisions. With Position Builder, clients can submit multiple orders at once, and the tool will then simulate the positions’ possible outcomes to collectively measure profitability, risk, and overall trend. This feature also helps avoid the time and cost of placing orders across many exchanges or product lines.
In terms of options trading, the Position Builder calculates the delta exposure of options positions, which is designed to reduce unwanted risk exposure, and provides one-click delta hedging using the depth of Bybit’s USDT perpetual contract.
Additionally, the tool employs both cross margin and portfolio margin modes, giving traders an increased leverage for individual futures contracts or reducing the overall margin requirement of the portfolio.
“We are proud to offer our clients another innovative tool, which enables them greater capital efficiency and flexibility when building positions with our suite of crypto derivatives. Position Builder, along with our unified trading account, is essential for users looking to manage their positions at a granular level, allowing them to best utilize our ultra-fast trading engine and deep liquidity,” said Ben Zhou co-founder and CEO of Bybit.
