Does Bybit offer options trading on contracts?

Understanding Bybit’s Trading Offerings

Bybit is a well-known cryptocurrency derivatives exchange that provides users with a range of trading instruments, including futures, perpetual contracts, and spot trading. However, Bybit does not currently offer options trading on its platform. While the exchange supports various contract types such as USDT-margined perpetual contracts, inverse perpetual contracts, and inverse futures contracts, options contracts are not among the available products. This distinction is crucial for traders seeking exposure to options strategies like puts, calls, or combinations such as straddles and spreads.

Options trading allows investors to hedge positions or speculate on price movements with limited risk, typically through the purchase of call or put options. The absence of this product on Bybit means users must rely on other exchanges or financial instruments to achieve similar outcomes. Some traders may attempt to replicate options-like payoffs using combinations of futures and spot positions, but these are not true options and carry different risk profiles.

Available Contract Types on Bybit

Bybit supports several contract types, all centered around futures and perpetuals. These include:

• USDT-margined perpetual contracts, which are settled in USDT and allow trading of assets like BTC/USDT, ETH/USDT, and other major cryptocurrencies.
• Inverse perpetual contracts, which are denominated and settled in cryptocurrency (e.g., BTCUSD) rather than stablecoins.
• Inverse futures contracts, which have fixed expirations and are also settled in crypto.

Each of these contracts supports leverage, with options ranging from 1x to as high as 100x depending on the asset and contract type. Traders can go long or short based on their market outlook. Despite the flexibility of these instruments, none of them constitute options trading, as they do not involve the right (but not the obligation) to buy or sell an asset at a set price before a specific date.

How Options Differ from Futures and Perpetuals

It’s important to distinguish between options and the futures/perpetual contracts offered by Bybit. Options give the holder the right, but not the obligation, to execute a trade at a predetermined price (the strike price) before or at expiration. In contrast, futures and perpetual contracts obligate both parties to fulfill the contract terms, meaning traders must manage their positions actively to avoid liquidation.

For example, purchasing a call option on Bitcoin allows a trader to benefit from price increases while limiting downside risk to the premium paid. On Bybit, opening a long perpetual position requires posting margin and is subject to funding fees and liquidation risk if the price moves against the position. This structural difference means options provide asymmetric risk-reward profiles, while futures and perpetuals expose traders to linear, potentially unlimited losses.

Because Bybit does not offer options, traders looking for such instruments must explore alternative platforms like Deribit, OKX, or Binance, which do provide cryptocurrency options trading.

Setting Up a Trade on Bybit: A Step-by-Step Guide

Although options are not available, executing a trade on Bybit using perpetual or futures contracts involves several clear steps:

• Log in to your Bybit account and navigate to the Derivatives section.
• Select the type of contract you wish to trade—USDT Perpetual, Inverse Perpetual, or Inverse Futures.
• Choose the specific trading pair, such as BTC/USDT.
• Set your order type: Limit, Market, or Conditional (stop-limit, stop-market).
• Specify leverage using the leverage slider—adjust according to your risk tolerance.
• Enter the order size in either USD or the base cryptocurrency.
• Review the margin requirements and liquidation price displayed on the interface.
• Click Buy (Long) or Sell (Short) to open the position.

After opening a position, monitor it via the Positions tab. You can set take-profit and stop-loss orders to manage risk. Close the position manually by clicking Close or allow it to be liquidated if the price reaches the liquidation threshold.

Why Traders Might Seek Options on Bybit

Many traders inquire about options on Bybit due to the platform’s strong reputation for user experience, deep liquidity, and advanced trading tools. Features like grid trading bots, copy trading, and API access make Bybit appealing for both novice and experienced users. The desire for options arises from strategies that require defined risk, such as hedging existing crypto holdings or speculating on volatility without directional bias.

For instance, a Bitcoin holder might want to buy a put option to protect against downside risk without selling their asset. Since Bybit lacks this functionality, they must either use another exchange or create a synthetic hedge using futures. A common workaround is to short a futures contract equivalent to the value of their holdings, but this introduces unlimited downside risk and margin requirements, unlike a put option which caps loss at the premium.

Frequently Asked Questions

Does Bybit plan to launch options trading in the future?As of now, Bybit has not announced any official plans to introduce options trading. The platform continues to focus on enhancing its existing derivatives offerings, including new perpetual pairs and improved risk management tools. Users should monitor Bybit’s official blog and social media channels for any updates.

Can I simulate an options strategy using Bybit’s existing tools?Yes, traders can approximate certain options strategies using combinations of perpetual contracts, spot positions, and conditional orders. For example, a covered call can be mimicked by holding BTC in spot and shorting BTC/USDT perpetuals. However, this is not a perfect substitute and lacks the premium-based payoff structure of real options.

Are there any fees for opening or closing contracts on Bybit?Bybit charges a taker fee and a maker fee for each trade. Maker orders (limit orders that add liquidity) typically have lower fees, often around 0.025%, while taker fees (market orders that remove liquidity) are slightly higher. Funding fees apply to perpetual contracts every 8 hours and depend on the rate set by the market.

How does Bybit compare to exchanges that do offer options?Exchanges like Deribit and OKX offer full options trading with strike selection, expiration dates, and implied volatility tools. Bybit excels in perpetual contract liquidity and user interface design, but lacks the options-specific analytics, Greeks (delta, gamma, etc.), and volatility trading features found on dedicated options platforms.