Bybit Unlocks Forex Trading for Crypto Traders Everywhere, Every Hour

Bybit has expanded its offerings to include perpetual contracts for three major currency pairs: EUR/USD, GBP/USD, and USD/JPY. These USDT-settled contracts trade around the clock with up to 100x leverage, allowing crypto-native traders to speculate on forex markets without leaving the exchange.

The new contracts are synthetic perpetuals that mirror spot forex rates but settle in USDT. This means traders can collateralize positions with crypto assets rather than fiat currency, eliminating the need for traditional forex brokers and their associated fees.

The funding rate has been capped at 0.5%, providing a degree of predictability that forex traders will appreciate. Bybit is also temporarily waiving fees on limit orders and offering a 50% discount on market order fees to sweeten the launch.