If you're new to derivatives in general, I would look into starting out with a beginner-friendly platform first.

Bitmex is far from beginner-friendly - their UI is probably one of the most complex UI's out there.

For a simple UI and zero fees I would recommend mushino. They also give you a free trading bonus that you can use to test out the trading without taking any risk.

Another option (once you get a little more experienced) is  deribit. They are decent once you have a certain level of experience. Do note that they require KYC though.

For risk management you may want to consider combining all of your orders with a stop order and take profit order.

Stop order limits your loss and take profit locks in your profits.

Some exchanges will allow you to automatically submit stop orders along with your orders.

One that does this is mushino., other I believe is Blade.exchange.

It's okay IMO to list shitcoins as long as you can actually short them. Shorting shitcoins can be very profitable.

As far as I'm aware, there are just two exchanges that allow you to short shitcoins.

One is FTX, other is Mushino

They both have index futures where you can short multiple shitcoins at once.

Regular arbitrage is not very profitable anymore. It has become saturated.

Triangular arbitrage is much less known and much more profitable comparatively.

With triangular arbitrage, you buy a coin on one exchange, sell it for another coin, and then you sell that coin for the original coin, completing the cycle.

I like to use this this free triangular arbitrage tool (provided by a new exchange called mushino) that lets you track these opportunities across 250 trading pairs. Currently there are some 2% (!) triangular opportunities on some of the lesser known coins. This means that you can make 2% on every 2 trades (not taking into account fees and slippage).

Mushino has a triangular arbitrage tool that lets you find triangular arbitrage opportunities across 250 trading pairs.

Triangular arbitrage is a little bit harder to execute than regular arbitrage (you need to execute 2 trades, instead of 1), but it is also a lot more profitable!

Currently there is a 2% triangular arbitrage opportunity on some top 100 market cap coins. That means you can make 2% of your order size on executing those two trades (when not taking into account fees and slippage).

2% compounded over many trades can earn you a great amount.

Stop loss and take profit are essential for managing risk.

Before you enter a position, you want to know exactly how much you can lose (in worst case) and how much you can win (in best case).

I'm not sure if you are familiar with the exchange called mushino, but they allow you to do exactly that.

There you can attach a stop and take profit to your position and they will show you how much you can lose and how much you can win.

It's really great for risk management. Especially when playing on high-ish leverage.

Once you have found a bot or script, you may want to check out this tool.

It will help you find some phat profit opportunities for your bot.