Automated Telegram Trading Bot for Bybit Derivatives – SOW

Project Title:

Telegram Trade Bot for Bybit Derivatives Trading

Project Overview:

This project involves the development of an automated bot that will read trading signals from a designated Telegram channel and execute corresponding trades on the Bybit exchange, specifically under the derivatives section (for long and short positions). The bot should integrate seamlessly with both Telegram and Bybit's API to automate the trade execution process.

Scope of Work:

The development will focus on the following areas:

1. Telegram Integration:

• Objective: Build functionality to monitor and capture trading signals from a Telegram channel.
• Deliverables:
  • Set up a bot that connects to the designated Telegram channel.
  • Enable real-time reading and parsing of trade signals such as:
    • Signal type: Buy/Long or Sell/Short.
    • Asset pair: e.g., BTC/USDT.
    • Leverage information (if provided).
    • Stop loss, take profit levels (if provided).
  • Ensure that the bot filters and identifies valid trade signals to trigger the necessary trading actions.

2. Bybit API Integration:

• Objective: Integrate the bot with Bybit’s API to automate trades based on the signals from Telegram.
• Deliverables:
  • Authentication and setup with Bybit using API Keys.
  • Program to send long/short trade orders (buy/sell) under the derivatives section of Bybit.
  • Configure leverage (if mentioned in the signal).
  • Implement functionality to set stop-loss and take-profit levels (if provided).
  • Retrieve real-time trade execution status and handle potential errors or rejections from the exchange.

3. Trade Execution Logic:

• Objective: Define the logic for parsing the trade tips and executing corresponding trades.
• Deliverables:
  • Develop algorithms to parse text messages from the Telegram channel. For example:
    • If the message contains "BTC/USDT Long 10x" → Bot executes a long position on BTC/USDT with 10x leverage.
    • If the message says "Take profit at 30,000" → Bot sets the take profit level to 30,000 USDT.
  • Implement logic for executing market orders, limit orders, and canceling existing positions (if necessary).
  • Incorporate error handling for invalid signals or missing information.

4. Security & Authentication:

• Objective: Ensure that all communication between the bot, Telegram, and Bybit is secure and encrypted.
• Deliverables:
  • Use API Key authentication for secure communication with Bybit’s trading platform.
  • Implement access controls for Telegram monitoring (e.g., the bot only reads from pre-approved channels).
  • Log all bot activities (e.g., signals read, trades executed) to track performance and resolve issues.

5. User Interface (Optional):

• Objective: Provide a simple interface (CLI or web-based) for configuring the bot and monitoring trades.
• Deliverables:
  • Allow the user to configure settings such as:
    • Telegram channel link.
    • Bybit API key and secret.
    • Trading pairs and default leverage.
  • Display trade history, active positions, and performance metrics.

6. Testing & Validation:

• Objective: Ensure the bot functions reliably under real-world conditions.
• Deliverables:
  • Conduct tests in a Bybit Testnet environment to validate the bot’s ability to:
    • Parse Telegram signals.
    • Execute corresponding trades.
    • Handle errors (invalid signals, API issues).
  • Perform load testing to ensure the bot can handle high-frequency signals without lag.

7. Deployment & Support:

• Objective: Deploy the bot in a live environment and provide post-launch support.
• Deliverables:
  • Deploy the bot in the desired environment (e.g., cloud server or local server).
  • Provide documentation covering installation, configuration, and operation.
  • Offer 30 days of post-deployment support to fix bugs and ensure the bot runs smoothly in the live environment.