Depends on the nature of the trades. If you are hedging and maintaining a delta-neutral position (very common situation for market makers and arbitrageurs) then technically your trades are part of a straddle, which is reported separately from capital gains. (in the U.S., at least)

I learned this because I had a six-figure capital loss on my spot crypto trades, and a slightly larger gain on unregulated futures which do not fall under capital gains. Capital losses can only offset up to $3k in other income, so I was terrified that I’d have to pay taxes on the massive “gain” without being able to count the losses against it. Fortunately, the straddle is the correct way to report this, allowing gains and losses to be matched across instruments that may otherwise fall into different income categories.