How to trade TradFi Perpetuals on Bybit

Traditional financial markets run on set schedules. Bybit TradFi Perpetuals give eligible users 24/7 price exposure to selected traditional assets through USDT-denominated and USDT-settled contracts. You don't need to own the underlying stock, exchange-traded fund (ETF), currency or commodity.

If you want to trade gold online, XAUUSDT provides exposure through a perpetual contract. This makes Bybit a gold trading platform for derivatives rather than a venue for buying physical gold.

This guide explains how TradFi Perpetuals work, where to find them and how to place your first trade.

Key takeaways:

• TradFi Perpetuals are USDT-denominated and USDT-settled contracts that track traditional assets without giving you ownership of those assets.

• The live TradFi market groups available perpetual contracts under Stock, ETF, Commodity and FX tabs.

• These contracts use the margin, funding and liquidation mechanisms of standard USDT perpetuals, with pricing adjustments for traditional market hours.

What are TradFi Perpetuals?

TradFi Perpetuals are perpetual derivative contracts that track traditional financial assets. They have no expiry date and settle in USDT. You can take a long position if you expect a contract's price to rise or a short position if you expect it to fall.

The live Bybit TradFi market currently groups perpetual contracts under Stock, ETF, Commodity and FX tabs. You can explore the current selection on the TradFi Perpetuals market page. Availability can vary by country or region.

The following guides explain the main categories in more detail:

• Learn how stock TradFi Perpetuals provide price exposure without stock ownership.

• See how FX Perpetual Contracts work on Bybit.

• Explore ETF Perpetuals such as contracts that track SPY and QQQ.

• Read the guide to trading gold and silver on Bybit.

TradFi Perpetuals use the same margin, funding and liquidation mechanisms as standard USDT perpetual contracts. Their index price calculation and mark price deviation limits include adjustments for traditional market closures and lower-liquidity periods.

TradFi Perpetuals and CFDs are separate products. TradFi Perpetuals are USDT-settled contracts that use Bybit's perpetual trading infrastructure. CFDs use the MT5 trading environment and a dedicated CFD Account.

Key specifications

Bybit's current Help Center explains how the index price responds to traditional market sessions. During open-market periods, the index updates every second using a weighted average of its components. During closures, the system may exclude stale components. A smoothing mechanism applies during transitions between open and closed periods.

Before you start

• Check account eligibility: TradFi Perpetuals aren't available in every country or region. Check the product page and applicable terms for your location.

• Fund your Unified Trading Account: TradFi Perpetuals are denominated and settled in USDT. Your Unified Trading Account (UTA) needs enough eligible collateral for the order and its margin requirements.

• Review the contract details: Open the selected contract's information before trading. Check its available leverage, minimum order size, funding interval and current risk limits.

• Read the risk disclosure: TradFi Perpetuals are leveraged derivatives. They don't provide ownership of the underlying traditional asset.

How to find TradFi Perpetuals on Bybit

On the Bybit App

The exact layout can vary by app version. In the current article flow:

1. Tap TradFi in the bottom navigation bar.

2. Select the Futures sub-tab.

3. Open the symbol selector and choose an available TradFi Perpetual contract.

4. Review the contract details before opening the trading screen.

You can also open Trade, select TradFi from the product categories and choose a perpetual contract from the available list.

On the Bybit website

Bybit's current Help Center gives the following route:

1. Open the Futures trading page.

2. Select the symbol dropdown menu in the top-left corner.

3. Go to Perpetual → USDT, then select an available Commodity or Stock contract.

The TradFi Perpetuals market page also lets you browse the categories and open a trading pair.

How to place your first trade

The following steps describe the standard order flow. Labels can vary by platform version and contract.

1. Fund your UTA: Check that your UTA holds enough eligible collateral for the intended position and required margin.

2. Select a contract: Open the symbol selector and choose an available TradFi Perpetual contract.

3. Choose your direction: Select Long if you expect the contract price to rise or Short if you expect it to fall.

4. Set leverage: Choose from the leverage levels available for that contract. Higher leverage reduces the initial margin required but increases liquidation risk.

5. Choose an order type: Select Market, Limit or another order type supported by the contract. Review its execution conditions before submitting the order.

6. Enter your order size: Check the estimated margin and liquidation information shown on the order panel.

7. Set take-profit and stop-loss levels: These settings can help manage an open position, but an order trigger doesn't guarantee execution at the trigger price.

8. Confirm the order: Review the direction, size, leverage and order details, then submit the order.

Managing your position

Open positions appear in the Positions tab. From there, you can:

• Monitor unrealized profit and loss: Track how the position changes relative to its entry price.

• Review the mark price: TradFi Perpetuals use mark price constraints that vary by contract type. The Help Center lists a maximum deviation of 5% for single-stock contracts and 3% for ETF and commodity contracts.

• Track funding: Check the current funding rate and the next funding time shown for the contract. Funding can be paid or received depending on the position and prevailing rate.

• Adjust take-profit and stop-loss settings: Review the available controls for the open position.

• Close part or all of the position: Choose the quantity and available closing order type. Market orders can incur slippage, while limit orders may not fill.

What are the risks?

TradFi Perpetuals are leveraged derivatives. The main risks include:

• Leverage risk: Leverage can magnify losses and may result in the loss of your entire margin within a short period.

• Gap risk: Earnings announcements, economic releases and major news can cause sharp price changes when the underlying market reopens.

• Liquidity risk: Liquidity may fall and bid-ask spreads may widen while the underlying traditional market is closed.

• Pricing risk: Index and mark price adjustments help manage stale prices, but they don't remove volatility or liquidation risk.

• No asset ownership: A TradFi Perpetual position doesn't provide dividends, voting rights, shareholder privileges or physical delivery.

• Regulatory risk: Access may be restricted in certain countries or regions.

The bottom line

TradFi Perpetuals bring selected traditional market exposure into Bybit's perpetual trading environment. They settle in USDT, trade 24/7 and don't require ownership of the underlying asset.

Traders familiar with crypto perpetuals will recognize the core margin, funding and liquidation mechanics. However, traditional market closures affect liquidity and pricing, so the product uses specific index and mark price controls.

Explore the current contracts on the TradFi Perpetuals market page and review each contract's details before trading.

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