The biggest crypto exchange, Binance, introduced two fresh features for trading: spot copy trading and funding rate arbitrage bot. Users had been asking for these, and Binance finally rolled them out. Spot copy trading is now available on both the Binance website and app, while the funding rate arbitrage bot is currently on the website and will be on the app in June.

Spot copy trading lets users automatically copy the trading strategies of skilled traders, while checking their performance metrics like ROI and PnL. It also gives lead traders a chance to earn a 10% profit share from their copy traders and commissions from their trading fees. Binance CEO Richard Teng shared this news with users.

The funding rate arbitrage bot on Binance Futures allows traders to earn fees by opening positions on perpetual futures and hedging them on the spot market. Binance also announced a promotion program where users can earn from a $50,000 prize pool until May 29.

This new bot is Binance’s first to automate a spot and futures arbitrage strategy, removing the need for manual trades. The crypto community reacted positively to these updates, boosting bullish sentiment in the market. Trading volumes have increased across pairs on Binance, and Bitcoin's price rose by 4% in the past 24 hours, trading at around $63,964.