Depends on the horse.
The 26 y/o I ride often gets worked deep and low for his warm-up. Usually we hack out beforehand on a loose rein, then come in the arena, trot a little bit, then canter and add in some counter canter in his deep stretch, then he's pretty good to go. Since he's pretty fit right now his warm-ups take a little less time.
With the vast majority of horses I ride there's a 10-15 minute hack on a loose rein to begin, then they're off to either do trot sets around the property, or have a flat or jump school in the ring. If they're working in the ring the frame they warm up in is entirely dependent on the individual horse, but I try to include a good deal of trot and canter, more of one or the other depending on the horse.
Edit: Cool down is usually a 15-20 minute walk-hack on a loose rein. ;)
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