What is a USDC Perpetual contract?
A USDC Perpetual contract uses USDC as the settlement assets and quoted in USDC. Traders can place long or short contracts using USDC with no expiration date.
Taking BTC-PERP as an example, traders place an order based on the quantity of BTC, and calculate the margin, profit and loss based on USDC.
What is a USDC Futures contract?
Similarly to USDC perpetual contract, the USDC Futures contract is also quoted in USDC and settled in USDC. However, it has no Funding Fee and has a set expiration date (settlement date) that allows traders to buy or sell assets at a predetermined price on that future date. Upon the settlement date, the respective Futures positions will be settled and closed.
Which account is supporting USDC Perpetual & Futures Contract?
Currently, it is supported in Unified Trading Account. For Standard Trading Account, Bybit Kazakhstan will be phasing out USDC Derivatives account starting from 14 Aug, 2023 to optimize the structure of Bybit Kazakhstan’s trading account.
To learn more about how to upgrade your Standard Account to Unified Trading Account, please visit here.
What’s the difference between USDC Perpetual contracts and USDC Futures contracts?
Other than the difference mentioned above, USDC Futures contracts works similarly with USDC perpetual contracts. For more information, please refer to Introduction to USDC Perpetual and Futures Contracts.
What’s the difference between USDT perpetual contracts and USDC perpetual contracts?
Both USDT perpetual and USDC perpetual contracts are linear perpetual contract products. The difference between the two lies in the collateral used:
USDC Perpetual Contract — Perpetual Contract uses USDC as the collateral.
USDT Perpetual Contract — Perpetual Contract uses USDT as the collateral.
With Bybit Kazakhstan, some of the differences between USDT and USDC perpetual contracts are as follows:
Can the USDC Perpetual & Futures contract use the cross margin and isolated margin?
No. Only cross margin is supported. Traders can select their preferred leverage in this mode.
Why am I not able to trade USDC Futures?
Please note that USDC Futures is only available for users who have upgraded their account to Unified Trading Account.
What kinds of USDC Futures contract types does Bybit Kazakhstan offer?
The types of USDC Futures contracts offered by Bybit Kazakhstan include: Weekly, Bi-Weekly, Tri-Weekly, Monthly, Bi-Monthly, Quarterly, Bi-Quarterly
When will the new USDC Futures contract be listed?
The USDC Futures will be listed every Friday at 8 AM UTC. After the weekly contract has been delivered, the bi-weekly contracts will turn into the new weekly contract, while the tri-weekly contracts will become the new bi-weekly. At this point, a new tri-weekly contract will be generated.
Please note that if the delivery date of the monthly contract overlaps with the delivery date of the upcoming tri-weekly contract, the monthly contract will turn into a new tri-weekly contract. The bi-monthly contract becomes the new monthly contract, and a new bi-monthly contract will be generated at this point.
What is an 8-Hour session settlement mechanism?
USDC Perpetual & Futures contracts adopt a settlement mechanism every 8 hours to settle the unrealized profit and loss in the position into a realized profit and loss, which is reflected in the cash wallet balance account to improve the utilization rate of your assets.
For example, if the position held at the time of settlement has a profit of 200 USDC, it’s credited to the wallet balance. Settlement occurs every 8 hours at 08:00 UTC, 16:00 UTC, and 00:00 UTC.
For more information, please refer to 8-Hour Session Settlement Mechanism (USDC Perpetual & Futures).
I did not open any new orders, why did my average entry price change?
This is due to the 8 hours settlement mechanism applied on USDC Perpetual & Futures Contract. The average entry price of the USDC perpetual contract is the weighted average price of your position during the current settlement cycle, which will be affected by the increases in position size. At the end of each settlement cycle, the Mark Price at the time of settlement will become the new average entry price.
Can the unrealized profit of perpetual contracts be used to open a position?
Yes. Unrealized profit can be used to open a position at any time.
Will the unrealized profit and loss after 8 hours of settlement be credited to the account?
Yes. Unrealized profit and loss will be credited to your wallet balance after settlement.
Can I hold both long and short positions simultaneously on a contract?
No. Only the One-Way Mode is supported. Traders can hold either a long or a short position in a contract.
What’s the trading fee for a Bybit Kazakhstan USDC Perpetual & Futures contract?
Bybit Kazakhstan charges the taker a 0.055% trading fee, and the maker a 0.02% trading fee.
For more details, please refer to Perpetual & Futures Contract: Fees Explained.
What is Maker/Taker?
Traders pre-set the quantity and order price and place the order into the order book. The order waits in the order book to be matched, thus increasing the market depth. This is known as a maker, which provides liquidity for other traders.
A taker occurs when an order is executed instantly against an existing order in the order book, thus decreasing the market depth.
For more information, please refer to the Difference Between Maker Orders and Taker Orders.
What is the maximum leverage that can be used when trading USDC Perpetual & Futures contracts?
The maximum leverage for each symbol is different.
How many orders can a trader place?
— A maximum of 500 active orders can be placed, of which the latest 100 will be displayed in the active tab.
— Up to 10 conditional orders can be placed, and all orders will be displayed in the position tab.
What order types do USDC Perpetual & Futures support?
We support Market Order, Limit Order, Conditional Order and TP/SL Order on USDC Perpetual & Futures Contract.
For more information, please refer to:
How to correctly place a limit order and ensure that orders are executed only as maker orders?
Make sure that the order price you enter meets the following requirements:
For long orders, Order Price < Best Ask
For short orders, Order Price > Best Bid
In addition, enable the Post-Only feature to ensure that limit orders are executed only as maker orders.
For more information, please refer to
Is there any price limit for order placement for USDC Perpetual & Futures contracts?
Yes. The lowest/highest prices that can be set are as follows:
Under the portfolio margin, will the initial margin occupied by my position be less than that under the cross margin?
The proportion of initial margin (IM) in the account depends on the hedging relationship of all USDC perpetual contracts and options.
- If there are hedging positions, the IM under the portfolio margin will be lower than the IM under the cross margin.
- If all positions are in the same direction, the IM under the portfolio margin will be higher than that under the cross margin.
This is based on the calculation of different risk mechanisms in the two modes.
For more information, please refer to Margin Calculations under Portfolio Margin (Options).
Can I transfer USDT to my USDC account to trade USDC Perpetual & Futures?
Yes. On the asset transfer page, traders can convert the USDT in the Spot Account into USDC at the real-time exchange rate and transfer directly to the USDC account.
For more information, please refer to How to Transfer Assets on Bybit Kazakhstan.
How to manage position risk in USDC Perpetual & Futures Contract trading?
You can manage position risk through Subaccounts. The P&L of Subaccounts is segregated from the Main Account. Currently, the transfer of assets between Subaccounts and Main Accounts is only done via your Spot Account.
For more details about Subaccounts, please refer to the following two articles:
Note: Isolated margin is not supported in USDC Perpetual Contract trading.
What is laddered liquidation?
Bybit Kazakhstan uses laddered liquidation to reduce the required MM to avoid full liquidation of USDC positions. For more details, please refer to Liquidation Process (USDC Contract).