Bybit's new USDC perpetual contract will first open to whitelisted traders, allowing them to use USDC as collateral and place long or short contracts with up to 100x leverage and no expiration date.
Taking Bitcoin perpetual as an example, traders will be able to place an order based on the quantity of Bitcoin, and calculate the margin, profit, and loss based on USDC. The new contract joins Bybit's other perpetual offerings that accept USDT and several cryptocurrencies (BTC, ETH, EOS, and XRP) as collateral.
In a prominently bull or bear market, perpetual contracts are popular as a diversified trading product that can help make the most out of a volatile market. Bybit has released this series of articles to help users fully understand the product.
"We are excited to offer our clients another great trading opportunity in launching USDC perpetuals," said Ben Zhou, co-founder and CEO of Bybit. "We are always looking for ways to help our users make the most of market conditions, and our USDC perpetual contracts will make an excellent addition."
Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is the proud partner of Oracle Red Bull Racing, esports teams like NAVI, Alliance, Astralis and Virtus.pro; German soccer club Borussia Dortmund and Japanese soccer club Avispa Fukuoka.
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