Bybit Expands into Major Currency Pairs with Perpetual Contracts

Bybit has expanded its range of crypto-collateralized derivatives to include major currency pairs, launching perpetual contracts linked to EUR/USD, GBP/USD, and USD/JPY. The contracts are settled in USDT, have no expiry date, and can be traded around the clock, subject to Bybit's product and jurisdictional restrictions.

The products are not spot foreign-exchange accounts and do not deliver euros, pounds, dollars, or yen. They are derivatives designed to track the corresponding spot exchange rates. Traders post collateral and settle profit and loss in USDT, while funding payments and mark-price rules are used to keep each perpetual near its reference market.

Bybit is offering leverage of up to 100 times on the three listings, which creates a different risk profile from buying currency through a cash account. The contracts' own depth and spreads will depend on orders and market makers on Bybit.