How to Open a BTCUSDT Futures Position on Bybit?

Account Setup and Verification

1. Download the official Bybit application from the Bybit website or authorized app stores. Android users may install the APK directly; iOS users must switch their Apple ID region to Taiwan, Japan, or South Korea before downloading.

2. Register using a valid email address or mobile number with international prefix. Input referral code JBZJ999 during registration to unlock new-user benefits including fee rebates and bonus rewards.

3. Complete KYC Level 1 verification by uploading a government-issued ID (passport recommended) and performing facial recognition. This step typically completes within minutes for passport holders.

4. Enable two-factor authentication immediately after account creation using Google Authenticator or a compatible authenticator app. This is mandatory for fund security and advanced trading features.

5. Upgrade to a Unified Trading Account (UTA) via the Assets section. UTA allows seamless margin sharing across spot, futures, and options while supporting BYUSDT as collateral.

Deposit and Asset Management

1. Navigate to Assets → Deposit → Cryptocurrency → USDT. Select BEP-20 network for lowest fees (~0.01 USDT) and fastest confirmation (1–5 minutes).

2. Copy the generated BEP-20 deposit address. Ensure network consistency: if BEP-20 is selected on Bybit, the sending exchange must also use BEP-20—not TRC-20, ERC-20, or any other chain.

3. Transfer USDT from your external wallet or another exchange. Confirm transaction hash on a blockchain explorer like BscScan to verify on-chain inclusion.

4. Once credited, USDT appears in your UTA balance. It automatically qualifies as margin for BTCUSDT perpetual contracts without manual transfer.

5. Optionally convert idle USDT into BYUSDT via the Earn section. BYUSDT earns up to 2.8% APY and retains full 100% collateral value for futures positions.

Futures Contract Configuration

1. Go to Trade → Derivatives → BTCUSDT Perpetual. Select the appropriate contract type: linear (USDT-margined) is default and recommended for beginners.

2. Adjust leverage using the slider or input field. Leverage ranges from 1x to 100x depending on position size and risk tier. Default is 10x for accounts under $10,000 equity.

3. Choose order type: Market, Limit, Stop Market, or Take Profit/Stop Loss. Market orders execute instantly at best available price; Limit orders require specifying entry price.

4. Set position mode: Hedge Mode enables simultaneous long and short positions on the same symbol; One-Way Mode restricts to directional exposure only.

5. Review contract specifications—funding rate schedule, mark price calculation method, and liquidation engine parameters—accessible via the info icon next to the symbol.

Order Execution and Risk Controls

1. Enter desired position size in USDT or contracts. The interface displays real-time margin requirements, estimated liquidation price, and unrealized PnL before submission.

2. Click Buy (for long) or Sell (for short) to open the position. A green confirmation banner appears upon successful execution, showing order ID and fill details.

3. Activate conditional orders immediately after opening: attach Stop Loss at a fixed distance or percentage below entry for longs; set Take Profit above entry to lock gains.

4. Monitor open positions in the Positions tab. Key metrics include entry price, size, leverage, margin used, and funding payment status (paid/received).

5. Use the Close button or place an opposing market order to exit manually. Partial closes are supported by entering reduced size in the close field.

Common Questions and Answers

Q: Can I open a BTCUSDT position without completing KYC Level 2?A: Yes. KYC Level 1 permits futures trading with withdrawal limits of 2 BTC per day. Full functionality—including higher withdrawal quotas and Card issuance—requires KYC Level 2.

Q: Why does my BTCUSDT position show “Unrealized PnL” but no profit in my wallet?A: Unrealized PnL reflects floating gains or losses based on current mark price. Profits only settle into your wallet upon position closure or partial realization through auto-deleveraging events.

Q: What happens if funding rate is negative and I hold a long position?A: You will pay funding to short holders every 8 hours. Funding amount is calculated as position value × funding rate and deducted from your available margin.

Q: Is it possible to change leverage after opening a position?A: Yes. Navigate to the Positions tab, locate your open BTCUSDT trade, click the gear icon, and adjust leverage. Note that changing leverage recalculates margin requirements and may trigger immediate liquidation if insufficient equity remains.